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African Markets - Factors to watch on March 14
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
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Asian shares barely budged on Thursday as investors reacted
cautiously to mixed data from China, while the pound hovered
near nine-month highs as the risk of a no-deal Brexit
receded following a late-night vote.
WORLD OIL PRICES
Oil prices nudged higher on Thursday to sit just off a
four-month high reached in the previous session as investors
focused on global production cuts and supply disruptions in
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SOUTH AFRICA MARKETS
South Africa's rand weakened against the dollar on Wednesday
as investors stayed away from riskier assets ahead of
another British parliamentary showdown over
At least one person was killed and dozens of children were
among those feared trapped after a four-storey building
containing a primary school collapsed in Nigeria's
commercial capital Lagos on Wednesday.
MTN GROUP NIGERIA
South African telecoms firm MTN Group Ltd expects
its Nigerian subsidiary to list on the local stock exchange
"probably more towards April and May", the unit's chief
executive said on Wednesday.
The Kenyan shilling edged down against the dollar on
Wednesday due to dollar demand from the manufacturing and
energy sector outweighing inflows from diaspora remittances,
The Ugandan shilling was little-changed on Wednesday
although it was inclined on the weaker side amid limited
demand for hard currency from energy, manufacturing and
other importers, traders said.
Ugandan authorities said on Wednesday they are investigating
the country's biggest gold refinery over recent imports of
an estimated 7.4 tonnes of gold, worth some $300
UGANDA RWANDA TRADE
Uganda said on Wednesday all its exports of goods to Rwanda
were being barred from entering its southwestern neighbour,
which it accused of imposing a trade embargo.
Doctors said on Wednesday that patients in Zimbabwe's
biggest state hospital were dying due to a lack of medicines
and basic supplies, brought on by a cash crunch that has
crippled the economy.
Botswana's High Court will hear on Thursday a case
challenging the criminalisation of gay sex, offering
campaigners a rare chance to argue for lesbian, gay,
bisexual and transgender rights (LGBT) on a continent where
homosexuality remains highly contentious.
Congo's new president, Felix Tshisekedi, pardoned three
prominent political prisoners and 700 regular ones on
Wednesday, state TV reported, a good will gesture signalling
a break with a predecessor who had scores of his opponents
France's air accident investigation agency BEA will analyse
black-box flight recorders from a Boeing 737 MAX 8 which
crashed near Addis Ababa on Sunday, a spokesman
MOZAMBIQUE CREDIT SUISSE
Mozambique is seeking the cancellation of government
guarantees on debts run up by state-run security firm
Proindicus which helped spark a debt crisis in the country,
its prime minister was quoted as saying on
Mali expects its economy to grow 5 percent this year,
matching 2018, driven by grain, cotton and livestock
farming, the finance ministry said on Wednesday.
The number of people killed in floods in southern Malawi has
risen to 56, an official said on Wednesday, with the country
now also on alert for an approaching tropical
IVORY COAST COCOA/BICYCLE
Dana Mroueh's chocolate factory is a rarity for Ivory Coast
and not only because the world's top cocoa grower produces
precious little finished chocolate.
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