African Markets – Factors to watch on March 29

PUBLISHED: Mon, 29 Mar 2021 04:12:49 GMT
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NAIROBI, March 29 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – EVENTS: *KENYA – The central to announces its latest benchmark lending rate decision. *KENYA – Equity Group Holdings to release its full-year 2020 earnings. GLOBAL MARKETS Asian share markets edged higher on Monday while oil prices slipped as the ship blocking the Suez Canal was re-floated, raising hopes the vital waterway could reopen and ease global shipping backlogs. WORLD OIL PRICES Oil was slightly lower on Monday, relatively placid after four sessions of wild swings in price, as efforts continued to dig out the giant container ship clogging the Suez Canal and little new emerged in the demand picture. 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 was a touch weaker on Friday, with investors still digesting the central bank’s decision to keep lending rates unchanged in the face of global inflation pressures and rate hikes in other emerging markets. KENYA MARKETS The Kenyan shilling was stable on Friday as demand was met with sufficient inflows of hard currency, traders said. KENYA COVID-19 RESTRICTIONS Kenya’s President Uhuru Kenyatta restricted travel in the capital Nairobi and four surrounding counties on Friday as COVID-19 infections hit record levels in East Africa’s richest economy. KENYA SAFARICOM Kenya’s biggest telecoms operator Safaricom has started trials for 5G high-speed internet network using technology from Nokia and Huawei, it said. TANZANIA CORRUPTION Tanzania’s new president, Samia Suluhu Hassan, on Sunday ordered the suspension of the head of the ports authority over corruption allegations, continuing her late predecessor’s anti-graft drive. MADAGASCAR MINING Japanese trading company Sumitomo Corp 8053.T said on Monday its Ambatovy nickel project in Madagascar resumed operation on March 23 after it had been shut since March last year due to the COVID-19 pandemic. MOZAMBIQUE SECURITY Dozens of people were killed in an attack on the northern Mozambique town of Palma this week, a spokesman for the country’s defence and security forces said, including seven people when a convoy of cars was ambushed in an escape attempt. ZAMBIA ECONOMY Zambia, Africa’s first pandemic-era sovereign default, will resume virtual talks with the International Monetary Fund next week as it seeks to stabilise its debt-burdened economy, its finance ministry said in a statement on Friday. 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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