African Markets - Factors to watch on Jan 30 - Reuters

January 30, 2017
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
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EVENTS:
KENYA - The central bank sets its benchmark lending rate. Analysts expect the bank to hold rates.
ETHIOPIA - The African Union votes for a new chairperson of its commission, the governing body.
GLOBAL MARKETS
Asian share markets and U.S. stock futures fell on Monday after President Donald Trump introduced immigration curbs that sparked criticism at home and abroad, adding to fears that his 'America First' policy may prove destabilising for the rest of the world.

WORLD OIL PRICES
Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that could partly offset output cuts by OPEC and other producers.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand weakened on Friday, hurt by a stronger dollar and by media reports that President Jacob Zuma was considering firing ministers who opposed him and backed calls for his resignation.

NIGERIA MARKETS
Nigeria's interbank lending rate dropped 6.5 percentage points on Friday to 5 percent on average as the money market was awash with cash from budgetary disbursal and coupon payment on matured bonds, traders said.

KENYA MARKETS
Kenya's shilling KES= was little changed against the dollar on Friday, amid subdued trade as market players awaited the central bank's Monetary Policy Committee (MPC) meeting next week.

KENYA RATES
Kenya's central bank is expected to hold interest rates at its policy meeting on Monday as drought-related inflation threatens to quicken, according to a Reuters poll that also forecast policy would remain steady for the rest of the year.

GHANA MARKETS
The Bank of Ghana said the yield on its weekly 91-day bill rose to 15.9376 percent at an auction on Friday from 15.7952 percent at the last sale, on Jan. 20.

UGANDA DEBT
Uganda needs to tap more of its domestic revenues to fund infrastructure development, because reliance on borrowed funds is "unworkable" and could lead to a spike in debt, IMF Managing Director Christine Lagarde said on Friday.

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Steven Rich
Sep 17, 2018:
Well done
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