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African Markets – Factors to watch on April 7

PUBLISHED: Wed, 07 Apr 2021 05:09:56 GMT

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS Asia equities are set for a sluggish open on Wednesday after Wall Street pulled back from record highs reached in previous sessions, as investors eye the upcoming earnings season for more signs of a recovery following a series of strong U.S. economic data. WORLD OIL PRICES Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell. 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 edged firmer to a new five-week best on Tuesday, boosted by greater risk demand as U.S. treasuries slipped and global commodity prices rallied. NIGERIA PRISON More than 1,800 prisoners are on the run in southeast Nigeria after escaping when heavily armed gunmen attacked their prison using explosives and rocket-propelled grenades, the authorities said. KENYA MARKETS Kenya’s shilling gained ground against the dollar on Tuesday due to lack of importer demand, traders said. MOZAMBIQUE INSURGENCY/TANZANIA United Nations teams have received “worrying” reports that Tanzania has rejected over 1,000 people seeking refuge from an Islamic State-claimed attack on a town in northern Mozambique, the U.N. refugee agency UNHCR said on Tuesday. TANZANIA PRESS Tanzania’s new President Samia Suluhu Hassan said on Tuesday she would lift a ban on all media in the country, a radical shift from a press crackdown implemented by her late predecessor John Magufuli. IVORY COAST POLITICS Ivory Coast’s President Alassane Ouattara has confirmed his younger brother Tene Birahima Ouattara as minister of defence, part of a slate of new appointments announced on Tuesday. IVORY COAST COCOA Cocoa arrivals at ports in top grower Ivory Coast reached 1.660 million tonnes by April 4 since the start of the 2020/2021 season on Oct. 1, exporters estimated on Tuesday, up 1.6% from the same period last season. ETHIOPIA SECURITY Border clashes between Ethiopia’s Afar and Somali regions have killed at least 100 people, a regional official said on Tuesday, the latest outbreak of violence ahead of national elections in June. ETHIOPIA DAM/EGYPT Egypt and Sudan said on Tuesday that the latest round of talks with Ethiopia over the Grand Ethiopian Renaissance Dam (GERD) in Kinshasa have ended with no progress. CHAD DEBT/IMF Chad’s creditors will get together within the next week to deal with the African country’s request for debt relief under a new common framework agreed last year by the Group of 20 major economies and the Paris Club of official creditors, IMF chief Kristalina Georgieva said on Tuesday. CONGO MINING/GLENCORE Glencore’s Kamoto Copper Company (KCC) mine in the Congo had a “limited release” of sulphuric acid from a tank during maintenance work on March 16, the commodities trading giant said on Tuesday. BENIN ELECTION/PROTEST Opponents of Benin’s President Patrice Talon protested in several cities and towns on Monday night and Tuesday morning, denouncing his decision to stand for re-election next week. 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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