Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on Sept. 16

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS Most Asian shares rose on Wednesday, extending a rally driven by upbeat Chinese and U.S. economic data, but the dollar, U.S. yields and gold held steady as investors awaited the Federal Reserve’s view on the economy at its policy meeting. WORLD OIL PRICES 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 against the U.S. dollar early on Tuesday as renewed hopes for a COVID-19 vaccine lifted risk appetite, while investors awaited monetary policy directions from central banks this week. NIGERIA AGRICULTURE Nigeria needs to more than double the proportion of bank loans it makes to the agricultural sector to 10% within the next four years to boost food production in Africa’s biggest economy, its central bank governor said on Tuesday. KENYA ECONOMY Kenya’s budget deficit for this financial year could increase due to revenue shortfalls and coronavirus-related disruptions, the finance minister said on Tuesday. UGANDA MARKETS The Ugandan shilling traded in the same position on Tuesday from the previous session as subdued importer activity and mid-month tax payments by big firms cut appetite for hard currency. CONGO PRISON Fifty-two inmates at a prison in the northeastern Congo city of Bunia have starved to death this year because of insufficient government funding, the United Nations and local authorities said. ETHIOPIA GRAINS The Ethiopian government has issued a new international tender to buy about 400,000 tonnes of milling wheat, European traders said on Tuesday. ZIMBABWE ECONOMY Zimbabwe’s consumer price inflation slowed to 761.02% year-on-year in August compared to 837.53% the previous month, the statistics agency said on Tuesday. ZIMBABWE PROTESTS/BRITAIN Britain’s foreign minister Dominic Raab said on Tuesday he was following the court case in Zimbabwe of journalist Hopewell Chin’ono, who has been critical of President Emmerson Mnangagwa’s government. MALI SECURITY West African mediators failed to persuade leaders of a military coup in Mali to immediately hand over power to a civilian government during talks on Tuesday, the chairman of the regional bloc said. MOZAMBIQUE INSURGENCY The Mozambican army has condemned the apparent execution of a naked woman by men wearing military uniforms, shown in video footage, where she is beaten with a stick before being shot in the back as she tries to flee. GAMBIA SANCTIONS/US Zineb Jammeh, the wife of Gambia’s former president, Yahya Jammeh, has been hit with U.S. sanctions for her role in the economic plunder of the tiny West African county during her husband’s 22-year rule, the U.S. Treasury said on Tuesday. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on


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