March 20, 2018 / 4:31 AM / 5 months ago

African Markets - Factors to watch on March 20

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
    - - - - -
 EVENTS:
 *Central Bank Governor holds news conference a day after the
 bank's latest lending rate decision
 
 
 GLOBAL MARKETS
 Asian shares fell on Tuesday after investors took profits in
 high-flying U.S. technology shares on fears of stiffer
 regulation as Facebook came under fire following reports it
 allowed improper access to user data.                       
 
 WORLD OIL PRICES
 Oil prices edged up on Tuesday, lifted by tensions in the
 Middle East, although rising output in the United States and
 shaky stock markets put a lid on further
 gains.                 
 
 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 slipped to its weakest in more than a
 month on Monday as a broad sell-off of emerging markets
 triggered by an impending U.S. Federal Reserve meeting and
 fears of a global trade war added to worries about a ratings
 review this week.            
 
 
 NIGERIA SECURITY
 Nigerian security forces were warned about the presence of
 Boko Haram fighters near the town of Dapchi, but failed to
 respond, allowing insurgents to kidnap 110 schoolgirls
 almost unharrassed, Amnesty International said on
 Tuesday.                
 
 
 
 NIGERIA CENTRAL BANK
 Nigeria's central bank plans to hold its next interest rate
 meeting April 3-4, a spokesman said on Monday, contingent on
 the upper house of parliament confirming the president's
 nominees for the monetary policy committee
 (MPC).              
 
 
 
 KENYA MARKETS
 The Kenyan shilling        was steady against the dollar on
 Monday ahead of a central bank decision on lending rates
 later in the day, traders said.                
 
 
 
 KENYA RATES          
 Kenya's central bank cut base interest rates for the first
 time since September 2016 on Monday, fuelling talk that a
 government cap on commercial lending rates introduced in the
 same month will be modified or removed soon.            
 
 
 KENYA CAMBRIDGE ANALYTICA-FACEBOOK
 Cambridge Analytica, the UK political consultancy at the
 centre of Facebook's        election manipulation scandal,
 ran the campaigns of President Uhuru Kenyatta in the 2013
 and 2017 Kenyan elections, according to video secretly
 recorded and broadcast by Britain's Channel 4 News on
 Monday.                
 
 
 
 ZAMBIA TELECOMS
 Zambia has selected a unit of Dutch company Unitel
 International Holdings as the country's fourth mobile phone
 service provider, the communications regulator said on
 Monday.                
 
 
 ZIMBABWE ECONOMY
 Zimbabwe has changed its empowerment law to limit majority
 ownership by state entities to only diamond and platinum
 mines and not the entire mining sector as in previous
 legislation, according to a government notice.              
 
 
 
 
 ZIMBABWE POLITICS
 Zimbabwe's President Emmerson Mnangagwa said on Monday less
 than half of the money estimated to be stashed abroad by
 individuals and firms had been returned after the end of a
 90-day ultimatum and warned that those who did not comply
 could be prosecuted.             
 
 
 
 IVORY COAST COCOA
 Abundant and regular rainfall in most of Ivory Coast's
 cocoa-growing regions boded well for the last stages of the
 April-to-September mid-crop, farmers said on
 Monday.            
 
 
 MADAGASCAR STORM 
 At least 17 people died when a tropical storm hit eastern
 Madagascar over the weekend, authorities said.              
 
 
 
 CONGO UN
 Humanitarian needs caused by conflict in the Democratic
 Republic of Congo have doubled over the last year and a cash
 shortage is the "largest single impediment" for a proper
 response, the humanitarian chief at the United Nations said
 on Monday.            
 
 
 EGYPT SUDAN
 Sudan's President Omar al-Bashir welcomed his Egyptian
 counterpart's bid for re-election during his first visit to
 Egypt since 2016 and pledged further cooperation after a
 year of rocky relations between the neighbouring
 countries.                    
 
 
 ANGOLA CORRUPTION
 Britain's National Crime Agency said on Monday $500 million
 frozen in the UK as part of an ongoing investigation into a
 potential fraud against Angola's central bank can be
 returned to the southern African country.             
 
 
 
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