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African Markets - Factors to watch on Sept. 13
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
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*Kenya's finance minister launches 2019/20 budget process
Asian shares won a reprieve on Thursday as news the Trump
administration has reached out to China for a new round of
trade talks raised hopes a deal could be struck in the
bitter tariff dispute between the world's two biggest
WORLD OIL PRICES
Oil prices fell on Thursday, reversing some of the strong
gains from the previous session, as economic concerns raised
doubts about ongoing fuel demand growth.
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SOUTH AFRICA MARKETS
South Africa's rand firmed in late afternoon deals on
Wednesday as stronger retail sales data dimmed the spotlight
on economic growth concerns, while stocks followed global
Nigerian stocks posted their single biggest decline in three
months on Wednesday as investors sold off shares across
A $10.1 billion demand by Nigerian authorities from South
African telecoms group MTN makes its planned debut
stock market listing in the country "pretty challenging and
awkward", the group's chief financial officer said on
The Kenyan shilling weakened against the dollar on
Wednesday due to excess liquidity in the money market which
made it possible for traders to fund their dollar
KENYA CENTRAL BANK
Kenya's central bank fined five top commercial banks on
Wednesday for failing to report suspicious transactions in
connection with the theft of funds at the National Youth
Service (NYS), a state agency.
The Kenyan director of a movie banned in her home country
for telling the love story of two women has filed a lawsuit
seeking to lift the bar so it can be considered for the
country's Oscars entry, court documents show.
he Ugandan shilling inched down on Wednesday due to
an uptick in demand for dollars on the interbank
SOUTH SUDAN UNREST
South Sudan's President Salva Kiir signed a peace agreement
with rebel factions in the Ethiopian capital on Wednesday to
end a civil war that has killed at least 50,000 people,
displaced two million and held up the country's progress
since it gained independence seven years ago.
The top U.S. diplomat for Africa welcomed a rapprochement
between Ethiopia and Eritrea ending two decades of hostility
but said concerns over Eritrea's human rights record
hindered cooperation with Washington.
Zimbabwe's police on Wednesday issued a ban on all public
gatherings and illegal food vending to control the spread of
cholera, which has killed 21 people in the capital
GHANA COCOA/IVORY COAST
Ghana and Ivory Coast have agreed to coordinate the
announcement of bean prices with the opening of cocoa
season, part of a bid by the world's top producers to
harmonise operations and boost producer profits, industry
regulator Cocobod said on Wednesday.
The wife of former United Nations chief Kofi Annan joined
dignitaries on Wednesday to file past her husband's casket
amid traditional funeral rites by local chiefs and clan
Liberia president and former World Footballer of the Year
George Weah made a surprise return to international
competition in Monrovia on Tuesday, playing in a 2-1 loss to
Nigeria a few weeks short of his 52nd birthday.
Democratic Republic of Congo's mines minister said on
Wednesday that a new mining code signed into law in March
that hikes royalties and taxes cannot be called into
At least 20 people were killed in central Mali when a truck
fell into a river after a suspected brake failure, the
Malian government said on Wednesday.
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