
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 4 (Reuters)&nbsp;&#8211;&nbsp;The following economic event, equity and currency market moves may affect South African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s government will hold its weekly auction of inflation-linked bonds.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand slumped against a buoyant dollar on Thursday as tensions simmered in the Middle East following Iran&#8217;s ballistic missile attack on Israel.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed 0.75% weaker.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a U.S. jobs report later in the day.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>U.S. stocks finished lower on Thursday ahead of Friday&#8217;s monthly U.S. payrolls report and as investors kept a watchful eye on the growing conflict in the Middle East.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices climbed on Friday, supported by safe-haven demand arising from the Middle East conflict, while spotlight shifted towards U.S. payrolls report to gauge the trajectory of the Federal Reserve&#8217;s policy path.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Growth could triple if government reform accelerates, says think-tank</p>



<p>&#8211; Eskom price hike to kill smelters and create ghost towns, says Rio Tinto exec</p>



<p>&#8211; Ramokgopa will oppose Eskom hike above 20%, wants delay of carbon tax</p>



<p>(Compiled by Tannur Anders)</p>


istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Oct 4


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Oct 4 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Ghana&#8217;s finance ministry and the International Monetary Fund (IMF) to hold a joint news conference following the third review of a $3 billion loan programme.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a U.S. jobs report later in the day.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices inched up in early Asian trading hours on Friday, holding on to their strong weekly gains, as investors weighed the Middle East conflict and the potential disruption in crude flows against an amply-supplied global market.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand slumped against a buoyant dollar on Thursday as tensions simmered in the Middle East following Iran&#8217;s ballistic missile attack on Israel.</p>



<h2 class="wp-block-heading" id="h-africa-currencies">AFRICA CURRENCIES</h2>



<p>The Kenyan, Nigerian and Zambian currencies are expected to be broadly steady against the dollar in the next week to Thursday, while Ghana&#8217;s is forecast to weaken and Ugandan&#8217;s could strengthen, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling was unchanged on Thursday, with dollar inflows from tea exporters matching importer demand, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-pmi">KENYA PMI</h2>



<p>Kenya&#8217;s private sector saw a slight deterioration in business conditions in September as output and new orders contracted again, reversing the brief recovery seen in August, Stanbic Bank reported on Thursday.</p>



<h2 class="wp-block-heading" id="h-kenya-imf">KENYA IMF</h2>



<p>Kenya&#8217;s government has asked the International Monetary Fund to conduct an official assessment of corruption and governance issues, two sources familiar with the situation told Reuters, after a push by Western nations.</p>



<h2 class="wp-block-heading" id="h-ghana-debt">GHANA DEBT</h2>



<p>Ghana&#8217;s investors have signed off on its proposal to restructure $13 billion worth of international bonds, the government said on Thursday, paving the way for the country to emerge from a painful 2022 debt default.</p>



<h2 class="wp-block-heading" id="h-ethiopia-debt">ETHIOPIA DEBT</h2>



<p>A group of Ethiopia&#8217;s international bondholders rejected on Thursday the outlines of a government restructuring proposal for its $1 billion bond that was presented in an investors call earlier this week.</p>



<h2 class="wp-block-heading" id="h-ethiopia-central-bank">ETHIOPIA CENTRAL BANK</h2>



<p>Ethiopia&#8217;s central bank said on Thursday it plans to sell $175 million into the foreign exchange market to address fuel-related import payments due over the coming months.</p>



<h2 class="wp-block-heading" id="h-tanzania-central-bank-rate">TANZANIA CENTRAL BANK RATE</h2>



<p>Tanzania&#8217;s central bank held its key interest rate unchanged at 6%, it said on Thursday.</p>



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



<p>Tanzania&#8217;s communications regulator has suspended the digital platforms of a local media company over the publication of what it called restricted content, a move one opposition group said was aimed at muzzling media that is critical of the government.</p>



<h2 class="wp-block-heading" id="h-mauritius-chagos-island">MAURITIUS CHAGOS ISLAND</h2>



<p>Britain said on Thursday it would cede sovereignty of the Chagos Islands to Mauritius in a deal it said secured the future of the UK-U.S. Diego Garcia military base, and which could also pave the way for people displaced decades ago to return home.</p>



<p>((Compiled by Nairobi Newsroom))</p>


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Oct 4


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 3 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves could affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>S&amp;P Global Whole Economy PMI for September.</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>South African mining executives gather for an annual industry conference.</p>



<p>South Africa&#8217;s second-biggest grocery group SPAR appointed Moegamat Reeza Isaacs as chief financial officer with effect from Jan. 1, 2025.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand weakened against a stronger dollar on Wednesday.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 0.6% higher.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Japanese stocks jumped and the yen fell on Thursday as the risk of further tightening in monetary policy this year faded, while a sizzling rally in Hong Kong&#8217;s share market took a breather.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 ended little changed on Wednesday, with technology shares gaining but investors nervous about Middle East tensions and more U.S. labour data due this week.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of U.S. economic data that could provide clues about the size of Federal Reserve interest rate cuts expected later this year.</p>



<p>(Compiled by Tannur Anders; Editing by David Goodman)</p>


South African Markets – Factors to watch on Oct 3


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Oct 3 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Tanzania&#8217;s central bank announces its latest lending rate decision.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Japanese stocks jumped and the yen fell on Thursday as the risk of further tightening in monetary policy this year faded, while the sizzling rally in Hong Kong&#8217;s share market took a breather.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rose on Thursday as the prospect of a widening Middle East conflict that could disrupt crude oil flows from the key exporting region overshadowed a stronger global supply outlook.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand weakened against a stronger dollar on Wednesday, as markets worried about rising tensions in the Middle East.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling  was steady on Wednesday, and was expected to firm, helped by dollar inflows from tea exporters, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-economy">KENYA ECONOMY</h2>



<p>Kenya&#8217;s economy expanded by 4.6% year-on-year in the second quarter of 2024, down from 5.6% in the corresponding quarter of the previous year, the national statistics office said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-kenya-central-bank-rate">KENYA CENTRAL BANK RATE</h2>



<p>Kenya&#8217;s central bank rate should start lowering its lending rate due to falling inflation in recent months, Finance Minister John Mbadi said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-uganda-foreign-exchange-reserves">UGANDA FOREIGN EXCHANGE RESERVES</h2>



<p>Uganda&#8217;s foreign exchange reserves shrank 4.3% in the three months to the end of July from the previous three months, extending a recent downward trend, the central bank said in a report published on Wednesday.</p>



<h2 class="wp-block-heading" id="h-uganda-electricity">UGANDA ELECTRICITY</h2>



<p>Uganda is seeking funds to build three hydropower plants that would add over 1,600 megawatts (MW) of capacity to help meet rising power demand, an energy official said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-madagascar-mining">MADAGASCAR MINING</h2>



<p>Madagascar&#8217;s nickel and cobalt miner Ambatovy has shut down a pipeline supplying ore from its mine in the country&#8217;s east to a processing and refinery plant due to damage, its major shareholder Sumitomo Corp 8053.T said.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



<p>Ivory Coast, the world&#8217;s top cocoa producer, has granted cocoa export licences to 106 companies and cooperatives for the 2024/25 season, up from 92 last season, according to a document from the Coffee and Cocoa Council (CCC) seen by Reuters on Wednesday.</p>



<h2 class="wp-block-heading" id="h-mozambique-petroleum">MOZAMBIQUE PETROLEUM</h2>



<p>Patrick Pouyanne, the chairman and chief executive of TotalEnergies, said he planned to go to Mozambique later this month to meet the country&#8217;s new president over the company&#8217;s planned project in Mozambique.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Oct 3


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="576" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-820x576.jpg" alt="" class="wp-image-534754" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-820x576.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-768x540.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-1536x1079.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A street money changer counts South African Rands in Harare, Zimbabwe,  file.  REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



<p>JOHANNESBURG, Oct 1 (Reuters)&nbsp;&#8211;&nbsp;The South African rand weakened in early trade on Tuesday, ahead of a purchasing managers&#8217; index (PMI) for the domestic manufacturing sector.</p>



<p>At 0747 GMT, the rand traded at 17.32 against the dollar, about 0.3% softer than its previous close.</p>



<p>The Absa PMI for September is set to be released at 0900 GMT and should shed light on conditions in South Africa&#8217;s manufacturing sector.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index traded about 0.6% up.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 8 basis points to 8.925%.</p>



<p>(Reporting by Tannur Anders)</p>


FILE PHOTO: A street money changer counts South African Rands in Harare

South African rand slips ahead of manufacturing PMI


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 1 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa September manufacturing sector PMI</p>



<p>South Africa September vehicle sales</p>



<p>South African government&#8217;s weekly long-term bonds auction</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>South African lender Capitec half-year results</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand slipped on Monday as it took a breather after two weeks of gains following an improvement in investor sentiment towards the currency.</p>



<p>On the stock market, the Top-40 .JTOPI index closed 1.26% lower.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks pulled back from two-and-half-year highs and the dollar firmed following comments from Federal Reserve Chair Jerome Powell that scuppered bets of big interest rate cuts, while Middle-East tension kept risk sentiment in check.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 sputtered to a record high close on Monday, rebounding from a brief setback after Federal Reserve Chair Jerome Powell said the U.S. central bank is in no hurry to implement further interest rate cuts.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices were hovering below recent record peaks on Tuesday after U.S. Fed chair tempered expectations for more substantial interest rate cuts this year, with investors looking forward to a series of labour data this week for further insights.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Nersa a &#8216;bottleneck&#8217; for new renewable energy projects, says industry</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Fuel price shocker: Some areas to miss out on large cuts this week as port woes bite</p>



<p>(Compiled by Tannur Anders)</p>


South African Markets -Factors to watch on Oct 1


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Oct 1 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks eased near two-and-half-year highs on Tuesday and the U.S. dollar firmed following hawkish comments from Federal Reserve Chair Jerome Powell that scuppered bets of big interest rate cuts, while Mid-East tension kept risk sentiment in check.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices were little changed on Tuesday as stronger supply prospects and tepid global demand growth outweighed worries that escalating tensions in the Middle East could impact output from the key exporting region.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand slipped on Monday as it took a breather after two weeks of gains following an improvement in investor sentiment towards the currency.</p>



<h2 class="wp-block-heading" id="h-nigeria-loan">NIGERIA LOAN</h2>



<p>The World Bank has approved a $1.57 billion financing package for Nigeria under a new programme to support its health and education sectors and help provide sustainable power, the bank said on Monday.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling was stable on Monday, with dollar inflows from tea exports matching month-end importer demand, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>Kenyan lawmakers plan to launch impeachment proceedings against Deputy President Rigathi Gachagua, accusing him of undermining the government, parliament&#8217;s majority leader said, reflecting a widening rift between President William Ruto and his deputy.</p>



<h2 class="wp-block-heading" id="h-mali-mining">MALI MINING</h2>



<p>Barrick Gold Corp and the Mali government have decided to find a resolution to existing claims and disputes over the Loulo and Gounkoto gold mines in the West African country, the company said on Monday.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



<p>Ivory Coast has raised the fixed farmgate price paid to cocoa farmers by 20% to 1,800 CFA francs ($3.09) per kg for the main crop of the new season, the West African country&#8217;s agriculture minister said on Monday.</p>



<h2 class="wp-block-heading" id="h-mozambique-central-bank-rate">MOZAMBIQUE CENTRAL BANK RATE</h2>



<p>Mozambique&#8217;s central bank cut its main interest rate for the fifth meeting in a row on Monday, saying the inflation outlook remained favourable.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Oct 1


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PF3JNZQUQ5M65OD7XXTYURHSSI-820x429.jpg" alt="" class="wp-image-536822" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PF3JNZQUQ5M65OD7XXTYURHSSI-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PF3JNZQUQ5M65OD7XXTYURHSSI-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PF3JNZQUQ5M65OD7XXTYURHSSI-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PF3JNZQUQ5M65OD7XXTYURHSSI-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PF3JNZQUQ5M65OD7XXTYURHSSI-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PF3JNZQUQ5M65OD7XXTYURHSSI.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Construction work is seen opposite a statue of Samora Machel, the first President of Mozambique, and the Cathedral of the Immaculate Conception, a Roman Catholic cathedral in downtown Maputo, Mozambique, September 1, 2019. REUTERS/Siphiwe Sibeko</figcaption></figure>



<p>MAPUTO, Sept 30 (Reuters)&nbsp;&#8211;&nbsp;Mozambique&#8217;s central bank cut its main interest rate for the fifth meeting in a row on Monday, saying the inflation outlook remained favourable.</p>



<p>The central bank reduced its MIMO interest rate&nbsp;MZMIMO=ECI&nbsp;by 75 basis points to 13.50%.</p>



<p>The southern African country&#8217;s inflation slowed to 2.75% year on year in August&nbsp;MZCPIY=ECI&nbsp;from 2.97% in July, statistics agency data showed.</p>



<p>The Bank of Mozambique reiterated in a statement that it expected to continue to lower the MIMO rate over the medium term.</p>



<p>(Reporting by Manuel Mucari; Writing by Bhargav Acharya; Editing by Alexander Winning)</p>


PF3JNZQUQ5M65OD7XXTYURHSSI

Mozambique central bank cuts main interest rate again


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="458" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/X6NY63TYXVKRFCEWGIZJ6ESKB4.avif" alt="" class="wp-image-536752"/><figcaption class="wp-element-caption">A man compares different grains of rice at a wholesale market in Navi Mumbai, India August 4, 2023. REUTERS/Francis Mascarenhas/File Photo</figcaption></figure>



<p>MUMBAI/HANOI, Sept 30 (Reuters)&nbsp;&#8211;&nbsp;Global rice prices fell on Monday after India, the world&#8217;s No.1 exporter of the grain, gave the go-ahead for exports to resume, boosting global supply and helping poor Asian and African buyers secure more affordable supplies, exporters said.</p>



<p>India on Saturday allowed exports of non-basmati&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3LC05C&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">white rice</a>. That came a day after New Delhi cut export duty on&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3LC05A&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">parboiled rice</a>&nbsp;to 10%, buoyed by a new crop in the offing and higher inventories in state warehouses.</p>



<p>&#8220;Suppliers from Thailand, Vietnam, and Pakistan are responding to India&#8217;s move by lowering their export prices,&#8221; said Himanshu Agarwal, executive director at Satyam Balajee, a leading rice exporter. &#8220;Everyone&#8217;s trying to stay competitive to hold their spot in the market.&#8221;</p>



<p>Global rice prices soared to their highest level in over 15 years following India&#8217;s decision last year to ban the export of white rice and impose a 20% duty on parboiled rice exports.</p>



<p>Last year&#8217;s export curbs imposed by India allowed competing suppliers like Vietnam, Thailand, Pakistan, and Myanmar to increase their market share and command higher prices in the global market.</p>



<p>On Monday, India&#8217;s 5% broken parboiled variety&nbsp;RI-INBKN5-P1&nbsp;was quoted at $500-$510 per metric ton, down from the last week&#8217;s $530-$536. Indian 5% broken white rice was offered around $490.</p>



<p>Exporters in Vietnam, Pakistan, Thailand and Myanmar also lowered prices by at least $10 per ton on Monday, dealers said.</p>



<p>The Philippines, Nigeria, Iraq, Senegal, Indonesia, and Malaysia are among the key importers of Asian rice.</p>



<p>Buyers and sellers are evaluating the potential impact of increased Indian rice supplies and accordingly prices would settle this week, said Nitin Gupta, senior vice president of Olam Agri India.</p>



<p>India accounted for more than 40% of the world&#8217;s rice exports in 2022, a record 22.2 million metric tons out of a total 55.4 million metric tons of global trade.</p>



<p>Thai rice prices were quoted at $540-$550 on Monday, down from last week&#8217;s $550 to $560 per ton.</p>



<p>Thailand&#8217;s rice export prices could decrease due to increased supplies in the market, but the extent of the decline would depend on several factors, including the appreciating Thai currency, said Chukiat Opaswong, honorary president of the Thai Rice Exporters Association.</p>



<p>Rice prices have started to correct, even in Vietnam, but traders caution that the full impact of Indian supplies has yet to be seen.</p>



<p>&#8220;(Vietnamese) exporters should stay calm and avoid reducing prices to secure contracts,&#8221; said Truong Tan Tai, chief executive of Vinarice Co., a rice exporter.</p>



<p>(Reporting by Rajendra Jadhav in Mumbai, Khanh Vu in Hanoi, Mayank Bhardwaj in New Delhi and Panarat Thepgumpanat in Bangkok; editing by David Evans)</p>


X6NY63TYXVKRFCEWGIZJ6ESKB4

Global rice prices drop after India allows white rice exports


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BNNVWMSIARI3XAWVJ7B3VBLVLQ-scaled.jpg" alt="" class="wp-image-536675" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BNNVWMSIARI3XAWVJ7B3VBLVLQ-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BNNVWMSIARI3XAWVJ7B3VBLVLQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BNNVWMSIARI3XAWVJ7B3VBLVLQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BNNVWMSIARI3XAWVJ7B3VBLVLQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BNNVWMSIARI3XAWVJ7B3VBLVLQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BNNVWMSIARI3XAWVJ7B3VBLVLQ-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: Quareebullahi Ajenifuja, 12, and Joy Adeniji, 12, take notes together during class at Ilorin Grammar school, in Ilorin, Kwara state, Nigeria, March 26, 2021. REUTERS/Temilade Adelaj</figcaption></figure>



<p>LAGOS, Sept 30 (Reuters)&nbsp;&#8211;&nbsp;The World Bank has approved a $1.57 billion financing package for Nigeria under a new programme to support its health and education sectors and help provide sustainable power, the bank said on Monday.</p>



<p>The World Bank is the largest lender to Nigeria, with more than $15 billion in loans at the end of March, data from the Debt Management Office showed.</p>



<p>The bank said in a statement that the money would help increase availability and effectiveness of financing for basic education and primary healthcare service delivery.</p>



<p>&#8220;The new financing includes $500 million for addressing governance issues that constrain the delivery of education and health, $570 million for the Primary Healthcare Provision Strengthening Program and $500 million for the Sustainable Power and Irrigation for Nigeria Project,&#8221; the bank said.</p>



<p>Nigeria is among countries with the highest number of out of school children mainly due to insecurity, especially in the north of the country where a long-running Islamist insurgency and armed kidnapping gangs have caused havoc.</p>



<p>The World Bank said part of the money would be used to improve dam safety to protect people from floods.</p>



<p>Nigeria faces frequent flooding and this year up to&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3KT0SF&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">a million people were affected</a>&nbsp;after a dam in northeastern Borno state burst.</p>



<p>More floods are expected in Nigeria after authorities in&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3KO1PZ&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Cameroon started releasing water from a large dam</a>&nbsp;to prevent it from overflowing.</p>



<p>(Reporting by MacDonald Dzirutwe, editing by Ed Osmond)</p>


FILE PHOTO: Two children take notes during class in Kwara state, Nigeria. March 2021.

World Bank approves $1.57 billion loan for Nigeria


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TMUP3J2JWZJPFD5BVSEVXEPZS4.jpg" alt="" class="wp-image-536648" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TMUP3J2JWZJPFD5BVSEVXEPZS4.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TMUP3J2JWZJPFD5BVSEVXEPZS4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TMUP3J2JWZJPFD5BVSEVXEPZS4-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">Kenya Central Bank Governor Patrick Njoroge displays the newly designed Kenyan shilling bank notes during a news conference at the Central Bank in Nairobi, Kenya, June 3, 2019. REUTERS/Baz Ratner</figcaption></figure>



<p>NAIROBI, Sept 30 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s shilling&nbsp;KES=&nbsp;was stable on Monday, with dollar inflows from tea exports matching month-end importer demand, traders said.</p>



<p>At 0647 GMT, commercial banks quoted the shilling at 128.50/129.50 to the dollar, the same as Friday&#8217;s closing rate.</p>



<p>Traders said central bank dollar-buying had prevented the shilling from gaining ground in recent weeks.</p>



<p>&#8220;If they (central bank) had stayed out, the shilling would have strengthened,&#8221; one trader said.</p>



<p>The central bank says it has no preferred level for the shilling and only steps in to smooth out volatility in either direction.</p>



<p>(Reporting by Sonia Rao; Editing by George Obulutsa and Alexander Winning)</p>


https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TMUP3J2JWZJPFD5BVSEVXEPZS4

Kenyan shilling stable; dollar inflows from tea exports match demand


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg" alt="" class="wp-image-536645" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File.   REUTERS/Siphiwe Sibeko</figcaption></figure>



<p>JOHANNESBURG, Sept 30 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Monday.</p>



<p><strong>ECONOMIC EVENTS</strong></p>



<p>August money supply and credit data&nbsp;ZAM3=ECI,&nbsp;ZACRED=ECI</p>



<p>August budget balance&nbsp;ZABUDM=ECI</p>



<p>August trade balance&nbsp;ZATBAL=ECI</p>



<p>Treasury-bill auction</p>



<p>Offshore trading in bonds and equities</p>



<p><strong>SOUTH AFRICAN MARKETS</strong></p>



<p>South Africa&#8217;s rand extended gains against the dollar on Friday, hitting a fresh 20-month high amid improved risk appetite and positive sentiment at home.&nbsp;.JZAR/</p>



<p><strong>GLOBAL MARKETS</strong></p>



<p>Share markets turned hesitant in Asia on Monday as strife in the Middle East offset more policy measures in China, while the Nikkei dived on concerns Japan&#8217;s new prime minister favoured normalising interest rates.&nbsp;MKTS/GLOB</p>



<p><strong>WALL STREET</strong></p>



<p>The blue-chip Dow Jones Industrial Average closed at a record high as a subdued inflation report stoked hopes for more Federal Reserve rate cuts, which enabled Wall Street&#8217;s three main indexes to post weekly gains.&nbsp;.N</p>



<p><strong>GOLD</strong></p>



<p>Gold prices eased on Monday but hovered near the record peak hit last week, setting bullion on track for its best quarter in over eight years following a jumbo U.S. rate cut decision and expectations of another outsized reduction in November.&nbsp;GOL/</p>



<p><strong>EMERGING MARKETS</strong></p>



<p>For the top emerging markets news, double click on&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3ARR:347&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<p><strong>BUSINESS DAY</strong></p>



<p>&#8211; Grindrod deal points to SA firms favouring port of Maputo</p>



<p>&#8211; SA miners slash almost 7,000 jobs in second quarter</p>



<p><strong>FIN 24</strong></p>



<p>&#8211; Fabergé owner Gemfields expects to double its debt as it bets on growth</p>



<p>&#8211; Treasury&#8217;s new plan to attract companies to transmission: A credit guarantee vehicle</p>



<p>(Compiled by Alexander Winning)</p>



<p></p>


New South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg

South African Markets – Factors to watch on Sept 30


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="507" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg" alt="" class="wp-image-533970" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-300x186.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-145x90.jpg 145w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-768x475.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-1536x950.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



<p>JOHANNESBURG, Sept 27 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand was steady against the dollar on Friday, as the local currency held onto recent gains amid improved risk appetite and positive sentiment at home.</p>



<p>At 0758 GMT, the rand traded at 17.1975 against the dollar, not far from its previous close.</p>



<p>The rand has been on an upward trajectory since a big interest rate hike by the Federal Reserve last week, hitting repeated 20-month highs.</p>



<p>Analysts say the improvement in South Africa&#8217;s risk profile following the formation of a coalition government after an election in May has also contributed to the currency&#8217;s strength.</p>



<p>On the stock market, the Top-40 index was down about 0.4%.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was stronger, with the yield down 4 basis points to 8.79%.</p>



<p>(Reporting by Bhargav Acharya; Editing by Ros Russell)</p>


Photo illustration of South African bank notes displayed next to the American dollar notes in Johannesburg

South African rand holds on to gains against dollar


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>Sept 27 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Zambia&#8217;s finance minister Situmbeko Musokotwane will present the 2025 national budget on Friday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Chinese stocks are headed for the best week since 2008 as Beijing rolled out a huge stimulus package to revive the economy, lifting Asian shares to 2-1/2-year highs, while a sharp fall in oil prices bodes well for disinflation globally.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices eased for a third day on Friday and were on track to fall for the week as investors focused on expectations of increased output from Libya and the broader OPEC+ group, although fresh stimulus from top importer China limited losses.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand edged higher on Thursday, with stronger risk appetite among investors after rate cuts by the U.S. Federal Reserve last week and positive sentiment in the months following May&#8217;s national election.</p>



<h2 class="wp-block-heading" id="h-africa-markets">AFRICA MARKETS</h2>



<p>The Kenyan, Ugandan and Nigerian currencies are expected to strengthen in the next week to Thursday, Ghana&#8217;s is forecast to weaken and Zambia&#8217;s could be little changed, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling was steady on Thursday, as the central bank bought dollars to stabilise fluctuations in the market and bolster their reserves, a commercial trader said.</p>



<h2 class="wp-block-heading" id="h-sudan-politics">SUDAN POLITICS</h2>



<p>Sudan&#8217;s army launched artillery and airstrikes in Sudan&#8217;s capital on Thursday in its biggest operation to regain ground there since early in its 17-month war with the Rapid Support Forces (RSF), witnesses and military sources said.</p>



<h2 class="wp-block-heading" id="h-africa-debt-swaps">AFRICA DEBT-SWAPS</h2>



<p>At least five African countries are working on what could be the world&#8217;s first joint &#8220;debt-for-nature&#8221; swap to raise at least $2 billion to protect a coral-rich swathe of Indian Ocean, according to a global conservation group.</p>



<h2 class="wp-block-heading" id="h-uganda-power">UGANDA POWER</h2>



<p>Uganda on Thursday commissioned its largest electricity generation plant, a 600 megawatt (MW) power plant built on the River Nile that cost $1.7 billion, financed with a loan from China.</p>



<h2 class="wp-block-heading" id="h-uganda-world-bank">UGANDA WORLD BANK</h2>



<p>The World Bank said on Thursday it is rolling out measures to ensure the recipients of any fresh lending to Uganda are not discriminated against by a tough anti-gay law.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Sept 27


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Sept 27 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>Inflation-linked bond auction</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Insurer Momentum full-year results</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand edged higher on Thursday, with stronger risk appetite among investors after rate cuts by the U.S. Federal Reserve last week and positive sentiment in the months following May&#8217;s national election.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Chinese stocks are headed for the best week since 2008 as Beijing rolled out a stimulus package to revive the economy, lifting Asian shares to 2-1/2-year highs, while a sharp fall in oil prices bodes well for disinflation globally. </p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 scored a record closing high and the Dow and Nasdaq rose on Thursday, as Micron Technology shares rallied and a strong U.S. jobless claims report eased labour market concerns.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited an inflation report for guidance. </p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; MultiChoice and NBC fork out 3 bln rand on Showmax since April</p>



<p>(Compiled by Alexander Winning)</p>


South African Markets – Factors to watch on Sept 27


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Sept 25 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>The South African Reserve Bank will publish the country&#8217;s leading indicator for July</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand strengthened to a fresh 20-month high against the dollar on Monday after a slight hiccup in the morning session.</p>



<p>On the stock market, the Top-40 index closed up 1.22%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Chinese stocks made brisk gains on Wednesday, extending their stimulus-fueled rally to a second day, even as equities in the rest of the region struggled and crude oil retreated from a multi-week high.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 and Dow ended at record highs on Tuesday, shrugging off weak consumer confidence data, as mining stocks surged following China&#8217;s announcement of a sweeping stimulus package.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold hit a record high on Wednesday, boosted by a softer U.S. dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal Reserve&#8217;s interest rate trajectory. </p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Eskom targets revenue of R1.4-trillion from 2026-2028</p>



<p>&#8211; Musk says he had ‘great meeting’ with Ramaphosa</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; SA manufacturers fear they are paying the price for Pretoria&#8217;s cosy relationship with Beijing</p>



<p>&#8211; Huawei&#8217;s SA workforce is now majority local, from 90% foreign two years ago</p>



<p>(Compiled by Bhargav Acharya)</p>


South African Markets – Factors to watch on Sept 25


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Sept 25 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Chinese stocks surged on Wednesday, lifting regional markets and helping extend a stimulus-fueled global rally that also underpinned risk-sensitive currencies, while Brent crude hovered near a three-week high.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices fell on Wednesday as investors reassessed the ability of China&#8217;s stimulus plans to boost the economy enough to drive more fuel demand growth in the world&#8217;s largest crude importer.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand strengthened to a fresh 20-month high against the dollar on Monday after a slight hiccup in the morning session.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling strengthened slightly against the dollar on Tuesday, bolstered by hard currency inflows from the diaspora and foreign investors following the U.S. Federal Reserve&#8217;s interest rate cut last week.</p>



<h2 class="wp-block-heading" id="h-somalia-security">SOMALIA SECURITY</h2>



<p>Somalia accused Ethiopia of smuggling weapons on Tuesday amid fears that arms going into the conflict-riven Horn of Africa nation could end up in the hands of Islamist militants.</p>



<p>((Compiled by Nairobi Newsroom))</p>


Economy

South African Markets – Factors to watch on Oct 4

African Markets – Factors to watch on Oct 4

South African Markets – Factors to watch on Oct 3

African Markets – Factors to watch on Oct 3

South African rand slips ahead of manufacturing PMI

South African Markets -Factors to watch on Oct 1

African Markets – Factors to watch on Oct 1

Mozambique central bank cuts main interest rate again

Global rice prices drop after India allows white rice exports

World Bank approves $1.57 billion loan for Nigeria

Kenyan shilling stable; dollar inflows from tea exports match demand

South African Markets – Factors to watch on Sept 30

South African rand holds on to gains against dollar

African Markets – Factors to watch on Sept 27

South African Markets – Factors to watch on Sept 27

South African Markets – Factors to watch on Sept 25

African Markets – Factors to watch on Sept 25

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Economy

South African Markets – Factors to watch on Oct 4

African Markets – Factors to watch on Oct 4

South African Markets – Factors to watch on Oct 3

African Markets – Factors to watch on Oct 3

South African rand slips ahead of manufacturing PMI

South African Markets -Factors to watch on Oct 1

African Markets – Factors to watch on Oct 1

Mozambique central bank cuts main interest rate again

Global rice prices drop after India allows white rice exports

World Bank approves $1.57 billion loan for Nigeria

Kenyan shilling stable; dollar inflows from tea exports match demand

South African Markets – Factors to watch on Sept 30

South African rand holds on to gains against dollar

African Markets – Factors to watch on Sept 27

South African Markets – Factors to watch on Sept 27

South African Markets – Factors to watch on Sept 25

African Markets – Factors to watch on Sept 25

News Tips

Advertise With Us

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