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Africa, Forex

African Markets – Factors to watch on Oct 21

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – EVENTS: The International Monetary Fund releases its regional economic outlook for Sub-Saharan Africa. GLOBAL MARKETS Asian stocks eked small gains on Thursday but the upbeat mood that lifted the Dow Jones and bitcoin to records ebbed on fresh worries about China’s property sector after an asset sale at embattled developer Evergrande collapsed. WORLD OIL PRICES Oil prices rose on Thursday to extend gains from the previous session as U.S. crude and fuel inventories tightened further, with supplies of gasoline hitting a two-year low, pointing to strong demand. 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 The South African rand advanced on Wednesday, bolstered by data showing consumer price inflation quickened slightly to 5.0% last month. KENYA MONEY LAUNDERING Kenya’s president on Wednesday asked the finance ministry to increase the threshold of suspicious cash transactions commercial banks are required to report by anti-money laundering laws to facilitate cash deals among small businesses. KENYA CORONAVIRUS Kenya lifted a nationwide curfew on Wednesday that has been in place since March 2020 to curb the spread of the coronavirus, President Uhuru Kenyatta announced. ETHIOPIA CONFLICT The Ethiopian government carried out a second air strike within hours on the Tigray region on Wednesday, significantly escalating a campaign to weaken rebellious Tigrayan forces in an almost one-year-old war. ZAMBIA DEBT Zambia’s total public debt to foreign and local lenders was just shy of $27 billion at the end of June, the Finance Ministry revealed on Wednesday. RWANDA POLITICS Rwandan prosecutors said on Wednesday they would appeal against a 25-year jail sentence handed to Paul Rusesabagina, a one-time hotel manager portrayed as a hero in a Hollywood film about the 1994 genocide. 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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