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African Markets - Factors to watch on May 29
NAIROBI, May 29 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
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*GHANA - South African telecom firm MTN Group's
Ghana unit launches an initial public offering to sell a 35
percent stake to Ghanaians.
Asian shares fell on Tuesday and the euro hovered near 6-1/2
month lows as early elections loomed in Italy, but a revival
in diplomatic talks with North Korea and a retreat in oil
prices from recent highs supported sentiment.
WORLD OIL PRICES
Oil prices were mixed in Asian trading on Tuesday, but
remained under pressure from expectations that Saudi Arabia
and Russia would pump more crude to ease a potential
shortfall in supply.
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SOUTH AFRICA MARKETS
South Africa's rand sustained gains on Monday after Friday's
affirmation by S&P Global Ratings of the country's
sub-investment credit rating.
Kenya's shilling eased on Monday, undermined by
dollar demand from oil companies, traders said.
KENYA CENTRAL BANK RATE
Kenya's central bank held its benchmark lending rate
at 9.5 percent on Monday, saying the impact of
the previous cut was yet to be fully felt.
Kenya's largest telecoms operator Safaricom SCOM.NR could be
forced to offer rivals access to its transmission sites and
its vast network of mobile money outlets if a draft
regulatory report on boosting competition in the sector is
Kenyan authorities charged 54 people, mainly civil servants,
on Monday in an investigation into the theft of nearly $100
million of public funds, a rare move to hold officials to
account for graft in a nation where it is widespread.
Madagascar's top court has ordered the president to dissolve
his government and appoint a new prime minister who had the
support of all political parties, part of moves to ease a
political crisis in the Indian Ocean island.
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