NAIROBI, Nov 29 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
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KENYA – Central bank governor expected to address a news
conference following the bank’s announcement of the latest
decision on its lending rate.
The U.S. dollar took a breather on Tuesday as global bonds
steadied from their recent rout, while equities flatlined as
political risk resurfaced in Europe ahead of a referendum in
Italy this weekend.
WORLD OIL PRICES
Oil prices dipped on Tuesday on doubts that producer cartel
OPEC will be able to hammer out a meaningful output cut
during a meeting on Wednesday aimed at reining in a global
supply overhang and propping up prices.
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SOUTH AFRICA MARKETS
South Africa’s rand firmed to near three-week highs against
the dollar and yields on government bonds fell on Monday
after rating agencies Fitch and Moody’s affirmed the
country’s investment-grade credit ratings.
SOUTH AFRICA POLITICS
South African President Jacob Zuma was expected to survive a
no confidence vote at a meeting of the ANC’s National
Executive Committee (ANC) extended into Monday night,
despite media reports of at least three cabinet ministers
turning against him.
Vandals have attacked a crude pipeline operated by Nigeria’s
state oil firm NNPC and independent Nigerian firm ND Western
in the restive Niger Delta, a community leader said on
South Africa’s telecom group MTN has met with
Nigeria’s Securities and Exchange Commission (SEC) to
discuss a possible initial public offering and how it wanted
to structure the share sale, the head of Nigeria’s SEC told
The Kenyan shilling was steady on Monday, and was
seen firming against the dollar due to easing importer
demand with traders keeping an eye on the central bank’s
lending rate decision later in the day.
KENYA INTEREST RATES
Kenya’s central bank held its benchmark lending rate
at 10.0 percent on Monday, as expected, and
said it expected inflation to remain within the government’s
short-term target of 5 percent.
Amnesty International on Monday accused Uganda of carrying
out extrajudicial executions as authorities in the east
African country said 62 people had died in clashes between a
tribal militia and security forces in a restive western
IVORY COAST COCOA
Light rain mixed with sunny spells across most of Ivory
Coast’s main cocoa growing regions last week will boost the
October-to-March main crop, farmers said on Monday, though
some reported dry seasonal winds had started early.
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