March 12, 2019 / 5:11 AM / 2 months ago

African Markets - Factors to watch on March 12

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
    - - - - -
 EVENTS:
 *French President Emmanuel Macron visits Djibouti
 
 
 GLOBAL MARKETS
 The pound jumped and Asian shares rallied on Tuesday after
 the European Commission agreed to changes in a Brexit deal
 ahead of a vote in the British parliament on a divorce
 agreement.                       
 
 WORLD OIL PRICES
 Oil prices rose on Tuesday, lifted by healthy demand and
 output cuts led by producer group OPEC.                 
 
 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 firmed on Monday, helped by increasing
 demand for emerging market currencies amid a slew of
 disappointing economic data in developed markets and growth
 warnings from central banks.            
 
 
 
 NIGERIA ELECTION
 Nigeria's elections need serious reform after being marred
 by violence, systemic failings and low turnout, the European
 Union observer mission said on Monday.            
 
 
 
 KENYA MARKETS
 The Kenyan shilling        firmed against the dollar to its
 strongest level in over three years on Monday as hard
 currency inflows from diaspora remittances and off-shsore
 investors continued to subdue weak demand from oil and goods
 importers, traders said.            
 
 
 
 ETHIOPIA AIRPLANE 
 The United States will mandate that Boeing Co       
 implement design changes by April that have been in the
 works for months for the 737 MAX 8 fleet after a fatal crash
 in October but said the plane was airworthy and did not need
 to be grounded after a second crash on Sunday.              
 
 
 
 
 IVORY COAST COCOA
 Below average rainfall in most of Ivory Coast's cocoa
 growing regions last week has raised concern about the
 April-to-September mid-crop, farmers said on
 Monday.            
 
 
 
 UGANDA MARKETS
 The Ugandan shilling        was unchanged on Monday but was
 inclined on the stronger side amid ebbing appetite for hard
 currency from both commercial banks and
 importers.             
 
 
 
 UGANDA COFFEE
 Uganda's coffee exports dipped slightly in January compared
 to the same month a year earlier, according to a report by
 the state-run regulator Uganda Coffee Development Authority
 (UCDA).            
 
 
 
 UGANDA CONGO/PLAGUE 
 A deadly form of plague has broken out on Uganda's border
 with Democratic Republic of Congo and several people are
 thought to have died of the disease, the World Health
 Organization said on Monday.               
 
 
 
 CONGO WAR CRIMES
 Former Congolese vice president and militia leader
 Jean-Pierre Bemba, who was acquitted of war crimes by the
 International Criminal Court (ICC) last year, is seeking
 nearly 70 million euros ($75 million dollars) in
 damages.                
 
 
 
 ALGERIA PROTESTS/FRANCE
 France's Foreign Minister Jean-Yves Le Drian said on Monday
 he welcomed Algerian President Abdelaziz Bouteflika's
 announcement that he would not seek a fifth term, after week
 of mass demonstrations against his rule.             
 
 
 
 ZAMBIA DEBT
 Zambia's external debt rose to $10.05 billion at the end of
 last year from $8.74 billion at the end of 2017, Finance
 Minister Margaret Mwanakatwe said on Monday.                
 
 
 
 ZIMBABWE ECONOMY
 Zimbabwe's central bank governor on Monday said the exchange
 rate for the new transitional currency is unlikely to remain
 at 2.5 per U.S. dollar by the time tobacco auctions open
 next week, suggesting the local unit will be devalued
 further.             
 
 
 
 SUDAN PROTESTS
 Sudan's parliament voted on Monday to shorten from one year
 to six months a state of emergency declared by President
 Omar al-Bashir last month in response to widespread
 protests.             
 
 
 
 GUINEA BISSAU DRUGS
 A man arrested in Guinea Bissau last week following the
 seizure of nearly 800 kg of cocaine from a fish truck is an
 adviser to the speaker in Niger's parliament, judicial
 police in Guinea Bissau said on Monday.                
 
 
 
 
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