NAIROBI, Sept 27 – The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Tuesday.
*Zambia’s central bank announces its latest decision on the
benchmark lending rate, and also inflation figures, any time
*Botswana releases GDP data for second quarter 2016 any time
Asian shares recovered from an early bout of nerves while
the Mexican peso surged on Tuesday as investors awarded the
first U.S. presidential debate to Democrat Hillary Clinton
over Republican Donald Trump.
WORLD OIL PRICES
Crude futures slipped in Asian trade on Tuesday as investors
took profits after prices climbed more than three percent in
the previous session.
The dollar was also weighing on oil prices after rising
against a basket of currencies , suggesting markets
were judging Democrat Hillary Clinton as the winner in the
first U.S. presidential debate with Republican candidate
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SOUTH AFRICA MARKETS
South Africa’s rand firmed on Monday, shaking off a slight
dip in sentiment towards emerging market currencies to
resume a recent rally as the dollar stumbled ahead of the
first debate between the two U.S. presidential candidates.
NIGERIA MARKETS The Nigerian naira fell 1.1 percent to a record low of 445 to the dollar on the black market on Monday as the dollar woes of Africa’s biggest economy persist. Traders said that speculators and strong demand from parents buying dollars to pay school fees abroad are putting pressure on the Nigerian currency.
The Kenyan shilling was seen to be under pressure
against the dollar during Monday’s session with demand for
dollars from oil importers being met by increased
remittances, traders said.
Fitch Ratings has assigned Ghana’s USD750m six-year 9.25
percent senior unsecured notes a final rating of ‘B’. The
final rating replaces the expected rating that Fitch
assigned on 1 August 2016
Kenya Airways is talking to “about three or four”
foreign institutional investors and airlines about buying a
stake to raise cash for the lossmaking carrier, its chief
executive said on Monday.
Kenya’s oil importers are seeking over 600,000 tonnes of oil
products for delivery over November to December, a tender
document showed on Monday.
NIGERIA OIL Nigeria’s Trans Niger Pipeline, which carries Bonny Light crude, has been shut as a precautionary measure after a fire was seen, a spokesman for the Shell Petroleum Development Company of Nigeria Ltd (SPDC) said on Monday.
NIGERIAN BANKING African Development Bank President said on Monday the lender had invested $500 million dollars in the Development Bank of Nigeria.
The death toll from militia clashes with security forces in
the Democratic Republic of Congo last week was at least 49,
more than three times the number earlier reported, the
governor of the province hit by the violence was quoted on
Monday as saying.