African Markets - Factors to watch on Feb.14
NAIROBI, Feb 14 (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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Asian shares edged up on Friday, on course to post the second
straight week of gains, helped by hopes governments will make
provisions to soften the impact on their economies from the
WORLD OIL PRICES
Oil prices were steady on Friday but are set for their first
weekly gain in six weeks on the assumption major producers
will implement deeper output cuts to offset slowing demand in
China, the world's second-largest crude user.
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SOUTH AFRICA MARKETS
South Africa's rand was slightly weaker on Thursday ahead of
President Cyril Ramaphosa's State of the Nation address, with
investors treading cautiously before hearing the government's
plans to grow a limping economy.
Nigeria's central bank has introduced longer-term contracts on
the naira in a move to attract more foreign inflows, shore up
its dwindling dollar reserves and stave off a currency
devaluation, traders said on Thursday.
Cost increases and uncertainty in Nigeria's crucial energy
sector could lead to a 35% decline in oil output over 10 years
as companies delay investments in key oilfields, consultancy
Wood Mackenzie said in new research due to be published on
The Kenyan shilling was stable on Thursday and was
forecast to trade in a narrow range amid some dollar demand
from the energy sector, traders said.
UGANDA CENTRAL BANK RATE
Uganda's central bank kept its benchmark lending rate
unchanged on Thursday, saying an accommodative
monetary policy stance is still needed to support economic
growth that could be hit by weak exports.
The World Bank and the International Monetary Fund on Thursday
said they had taken a next historic step toward forgiveness of
Somalia's $5.3 billion in debt, with a final decision possible
by the end of March.
ConocoPhillips' sale of a stake in a $4.2 billion
Senegal oil and gas project to Woodside Petroleum has
been cleared by an international tribunal, resolving a
long-running challenge by Australian partner FAR Ltd
Mozambique's gross domestic product (GDP) grew 2.03% year on
year in the fourth quarter of 2019, versus 2.01% growth in the
previous quarter, data from the national statistics office
Ethiopia’s parliament passed a law on Thursday imposing jail
terms for people whose internet posts stir unrest, a move the
government says is needed to prevent violence ahead of
elections but which the United Nations says will stifle free
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