African Markets – Factors to watch on Oct 17 – Reuters

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
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GLOBAL MARKETS
Asian shares fell on Monday while the dollar held firm near
seven-month high against a basket of major currencies after
comments from Federal Reserve Chair Janet Yellen boosted
long-dated U.S. bond yields.

WORLD OIL PRICES
Oil prices fell early on Monday, pulled down by a rising rig
count in the United States, a strong dollar and record
OPEC-output which comes amid slowing global economic growth
that could erode fuel demand.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand rallied against the dollar on Friday
after Finance Minister Pravin Gordhan described fraud
charges against him as frivolous and said he intended to
continue in his job.

NIGERIA MARKETS
Nigeria’s central bank will sell two-month dollar forwards
at an auction on Friday to clear a backlog of demand from
airlines, manufacturers and other companies, traders and the
ministry of transport said, as the country’s currency crisis
deepens.

NIGERIA INFLATION
Annual inflation in Nigeria accelerated in September to 17.9
percent, a more than 11-year high and the eighth monthly
rise in a row, highlighting the economic crisis in Africa’s
most populous nation.

KENYA MARKETS
The Kenyan shilling KES= was under pressure on Friday as
energy firms sought dollars, although foreign exchange
inflows from some companies and charities provided a buffer,
traders said.

KENYA ISLAMIC FINANCE
Kenya launched an office dedicated to oversee its fledgling
Islamic finance industry and help prepare for the issue a
debut sovereign shariah-compliant bond, known as a sukuk.

GHANA MARKETS
Ghana has issued its first dollar denominated domestic bond
worth $94.64 million in two-year paper with a coupon rate of
6 percent, consistent with an initial price range of 5.5-6.5
percent, the Finance Ministry said on Monday.

ETHIOPIA PROTESTS
Ethiopia imposed curbs on its opposition, travel
restrictions on diplomats, and a dusk-to-dawn curfew around
major projects in new measures announced on Sunday that
follow the declaration of a six-month, nationwide state of
emergency.

ZAMBIA FUEL PRICES
The retail price of petrol in Zambia will rise by nearly 39
percent from Saturday, while the price of diesel will go up
by 33 percent, its energy regulator said on Friday.

IVORY COAST TREASURIES
Ivory Coast will auction a one-month treasury bill worth 50
billion CFA francs ($85.38 million) on Oct. 21, the regional
debt planning agency said on Friday.