February 22, 2019 / 4:35 AM / 4 months ago

African Markets - Factors to watch on Feb.22

    NAIROBI, Feb 22 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Friday.
                     - - - - -
 EVENTS:
 *MAURITIUS - The central bank to announce its latest repo rate
 decision.
 
 GLOBAL MARKETS
 Shares in Asia slipped on Friday as a deteriorating global
 economic outlook outweighed further signs of progress in trade
 talks between China and the United States.                       
 
 WORLD OIL PRICES
 Oil prices fell on Friday after the United States reported its
 crude output hit a record 12 million barrels per day (bpd),
 undermining efforts by Middle East-dominated producer club OPEC
 to withhold supply and tighten global markets.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand traded slightly weaker on Thursday, a day
 after the finance minister announced a partial bailout for ailing
 power utility Eskom in an annual budget reflecting sluggish
 growth while deficits and debt widened.            
 
 NIGERIA BANKING
 Nigeria's Zenith Bank expects loan volumes to return to growth
 this year after 2018's decline, and is targeting higher activity
 in the agricultural sector, the bank said on
 Thursday.            
 
 NIGERIA PETROLEUM
 Nigeria has ordered foreign oil and gas companies to pay nearly
 $20 billion in taxes it says are owed to local states, industry
 and government sources said, in a move that could deter
 investment in Africa's largest economy.            
 
 NIGERIA ELECTION
 Nigeria's President Muhammadu Buhari and his closest rival Atiku
 Abubakar made their final appeal for votes on the last day of
 campaigning on Thursday ahead of a presidential election on
 Saturday that was delayed by a week.            
 
 KENYA MARKETS
 The Kenyan shilling        was stable against the dollar on
 Thursday as the market basked in ample dollar supplies from
 offshore investors into government securities.            
 
 ETHIOPIA HYUNDAI MOTOR PLANT
 South Korea's Hyundai Motor Co             opened a 10,000-a-year
 vehicle capacity assembly plant in the Ethiopian capital Addis
 Ababa on Thursday, its first factory in East Africa.            
 
 UGANDA TELECOMS
 The Ugandan unit of South African telecommunications firm MTN
 Group MTNJ.J has denied government accusations it has been
 understating its revenues and said it was fully meeting all its
 tax obligations.            
 
 ZIMBABWE CURRENCY
 Zimbabwe's decision to scrap a peg between its quasi-currency
 bond notes and the U.S. dollar brings a welcome end to a failing
 monetary policy, but it is not the solution to a deeper crisis,
 economists said on Thursday.            
 
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