African Markets – Factors to watch on Dec 29 – Reuters

NAIROBI, Dec 29 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
– – – – –
EVENTS:
*KENYA – The central bank auctions 91-day Treasury bills
worth a total 4 billion shillings.

GLOBAL MARKETS
Asian shares slipped on Thursday after Wall Street suffered
a mild setback after weeks of gains, while the dollar faded
against the yen in typical year-end profit
taking.

WORLD OIL PRICES
Oil prices fell in early trade in Asia on Thursday following
a surprise build in U.S. crude stocks shown in data
published by the American Petroleum Institute (API) late on
Wednesday.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand strengthened on Wednesday to a two-week
high, supported by firming demand for commodities in global
markets.

KENYA MARKETS
Kenya’s shilling was steady on Wednesday but could
come under pressure this week due to increased importer
dollar demand, traders said.

UGANDA CURRENCY
The Ugandan shilling UGX= was weaker on Wednesday, undercut
by a surge in demand by commercial banks moving to cover
short dollar positions as the year moves to a
close.

RWANDA LENDING RATE
Rwanda’s central bank on Wednesday lowered its repo rate
to 6.25 percent from 6.50 percent to help
stimulate credit growth, Governor John Rwangombwa
said.

GHANA ECONOMY
Ghana’s gross domestic product growth in the third quarter
of 2016 GDP rose to 4.0 percent year-on-year, up from 3.6
percent a year ago due to increased oil production, the
statistics office said on Wednesday.

ANGOLA ECONOMY
Angola will achieve its inflation and exchange rate targets
in 2017, the southern African nation’s central bank governor
said on state radio on Wednesday.

IVORY COAST ELECTRICITY
Ivory Coast will build two 350 megawatt (MW) charcoal power
stations in the western cocoa town of San Pedro by 2021 to
address growing national demand for electricity, the
government said on Wednesday.

MOZAMBIQUE BOND
The U.S. Securities and Exchange Commission is investigating
the sale of $850 million in bonds issued by Mozambique by
Credit Suisse, Russia’s VTB Group and BNP Paribas, the Wall
Street Journal reported on Wednesday.