The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets today, Tuesday, February 28, 2017, reports reuters
Nigeria Q4 GDP is due to be released.
Kenya National Bureau of Statistics to release inflation rate for February.
Asian shares edged up on Tuesday, bolstered by gains on Wall Street as investors awaited a speech by U.S. President Donald Trump for signals on tax reform and infrastructure spending.
WORLD OIL PRICES
U.S. crude oil edged higher for a second day on Tuesday, underpinned by high compliance with OPEC’s production cuts even as the market remains anchored by rising U.S. production.
SOUTH AFRICA MARKETS
South Africa’s rand firmed on Monday, shaking off a sluggish start to rise along other emerging currencies as investors closed dollar positions ahead of a speech by U.S. President Donald Trump expected to give clues on his fiscal policy.
Nigeria central bank said on Monday it sold $80 million to retail customers and another $100 million in currency forwards to increase dollar liquidity and support the naira.
A Nigerian court will rule on March 13 on a request by Royal Dutch Shell and Italy’s Eni to lift the
temporary seizing of a long-disputed oilfield, a judge said on Monday.
The Kenyan shilling gained ground against the dollar on Monday, helped by inflows from charities, reducing pressure from end-month oil importer demand, traders said.
Acacia Mining has found an “inferred mineral resource” estimated to be 1.31 million ounces of gold at 12.1 grams per tonne at the company’s project on the Liranda Corridor in western Kenya, it said on Monday.
The U.S. Federal Aviation Administration said Monday that Kenya now complies with international aviation safety standards and has been granted a Category 1 rating.
The Ugandan shilling was seen weakening on Monday due to a slight pick up in dollar demand from small and medium-sized importers, traders said.
Uganda’s economy will grow 5.5 percent in the year to June 2018, edging up from estimates for the current fiscal year thanks to lower borrowing costs and higher oil sector investments, a budget paper seen by Reuters on Monday showed.
Gambia’s new government has endorsed the “one China” policy and said it would not establish any official relations or contacts with Taiwan, continuing a policy adopted in March 2016 by the government of former leader Yahya Jammeh.
Gambian President Adama Barrow has replaced the head of the military, a pillar of his predecessor Yahya Jammeh’s repressive government, and dismissed a number of senior military officers, officials said on Monday.
Guinea’s President Alpha Conde fired three ministers, according to a decree read on state television on Monday, following violent protests over a teachers’ strike last week in which seven people were killed and dozens more were injured.
More than 31,000 South Sudanese refugees – mostly women and children – have crossed the border into Sudan this year,fleeing famine and conflict, the United Nations refugee agency said on Monday.