<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="576" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-820x576.jpg" alt="" class="wp-image-424954" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-820x576.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-768x540.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-1536x1079.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-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>



JOHANNESBURG, Jan 21 (Reuters) &#8211; South Africa&#8217;s rand retreated early on Tuesday against a buoyant dollar after U.S. President Donald Trump announced a flurry of policy changes following his Monday inauguration.



At 0712 GMT, the rand traded at 18.6150 against the U.S. dollar, about 0.6% weaker than its previous close. It gained about 1% on Monday ahead of Trump&#8217;s swearing in.



The dollar last traded about 0.4% stronger against a basket of currencies.



Trump did not take immediate action to raise tariffs, a focus for global markets, but said the world&#8217;s biggest economy could impose tariffs on Canada and Mexico in the near future.



&#8220;I think we need to wait until Trump&#8217;s government is fully installed before decisions come on tariffs,&#8221; said Adam Phillips, treasury specialist at Umkhulu Treasury.



Like other risk-sensitive currencies, the rand often takes direction from global drivers like U.S. fiscal policy in addition to local factors.



Domestically focused investors will on Tuesday look to November mining production data expected at 0930 GMT and South African President Cyril Ramaphosa&#8217;s address to the World Economic Forum later in the day.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded about 0.1% down.



South Africa&#8217;s benchmark 2030 government bond was stronger, with the yield down 2.5 basis points to 9.145%.



(Reporting by Tannur Anders: Editing by Neil Fullick)

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

South African rand retreats against sturdy dollar after Trump swearing in

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg" alt="" class="wp-image-568119" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-135x90.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>



JOHANNESBURG, Jan 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand strengthened in cautious trade on Friday, as investor focus shifted towards U.S. President-elect Donald Trump&#8217;s inauguration on Monday.



At 0808 GMT, the rand traded at 18.755 against the dollar, about 0.4% stronger than its previous close.



&#8220;Trump&#8217;s policies and U.S. Treasury movements will dominate sentiment in the short term, with limited market activity expected until after his inauguration,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



A sturdy labour market, sticky inflation and uncertainty over the potential impact of Trump&#8217;s tariffs and tax plans have led the U.S. Federal Reserve to project two interest rate cuts this year.



However, Fed Governor Christopher Waller said on Thursday three or four rate cuts are still possible if economic data weakens further.



On the stock market, South Africa&#8217;s Top-40 index was up about 0.6%.



Its benchmark 2030 government bond also strengthened, with the yield down 5.5 basis points to 9.15%.



(Reporting by Sfundo Parakozov. Editing by Bhargav Acharya and Mark Potter)

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South African rand firms ahead of Trump inauguration

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1005" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/WHL3PMZZNBJG7KMG7OAQESM3PM.avif" alt="" class="wp-image-574986"/><figcaption class="wp-element-caption">People attend a demonstration against Kenya&#8217;s proposed finance bill in Nairobi, Kenya, June 25. REUTERS/Monicah Mwangi</figcaption></figure>



NAIROBI/LAGOS/MAPUTO/JOHANNESBURG, Jan 14 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;Kenyan activist Boniface Mwangi has been part of countless demonstrations over the years, but the anti-government protests that hit the country last June and July defied all expectations.



Mwangi said he witnessed something unprecedented &#8211; a powerful awakening of the Kenyan youth who leveraged social media to mobilise against a finance bill which proposed a raft of tax hikes.



&#8220;The biggest mobilisers of the protest were the Gen Zs. They were on TikTok, Instagram and on X. The majority of the people in the streets were young people,&#8221; Mwangi told the Thomson Reuters Foundation.



&#8220;For the first time in history, Kenyans were united for one purpose, to defeat the finance bill,&#8221; he said. &#8220;It was us waking up to the power we have and becoming active citizens to demand accountability and meaningful change in our country.&#8221;



The nationwide protests forced President William Ruto to make a historic U-turn by scrapping his reviled law, sacking cabinet ministers and pledging a slate of measures to cut wasteful spending of public funds.



Africa, home to the world&#8217;s youngest population, has seen a wave of youth-led protests fuelled by frustrations over rampant corruption, poor governance, high living costs and rising unemployment.



Gen Z and millennials protested in Kenya, Ghana, Uganda, Nigeria and Mozambique in 2024, and some analysts expect this activism to intensify in 2025 as grievances persist.



Murithi Mutiga, program director for Africa for the International Crisis Group, said frustrations partly arise from Africa&#8217;s struggle to recover from economic shocks like COVID-19 and the Russia-Ukraine war, which has driven up food and fuel prices.



There is also growing resentment among a generation increasingly aware of its rights, empowered by the internet to take action for change, said Mutiga.



&#8220;The young want more than their parents. They are more informed. They are more politically active,&#8221; he said. &#8220;I think it&#8217;s possible that you&#8217;ll see more protests in 2025.&#8221;



<h2 class="wp-block-heading" id="h-youth-disillusionment">YOUTH DISILLUSIONMENT</h2>



Africa has the fastest growing, youngest population of any continent, with 70% of sub-Saharan Africa&#8217;s people under the age of 30.



Fueling their growing wave of disillusionment are scarce job opportunities. Some 53 million youth &#8211; more than one in five &#8211; in sub-Saharan Africa are not engaged in any form of employment, education or training, says the U.N.&#8217;s International Labour Organization.



A 2024 survey of African youth found three-quarters of respondents said it was difficult to find a job, and two-thirds were dissatisfied with their governments&#8217; efforts to create employment opportunities.



The survey, which polled more than 5,600 Africans ages 18 to 25 in 13 countries, also found that four in five were worried about corruption, most notably in the government, private sector and the police.



&#8220;Most are dissatisfied with efforts to tackle corruption and there is widespread support for a range of policies to address it,&#8221; the Africa Youth Survey said.



Political analysts and observers said it was not surprising to see youth beginning to push back against their governments.



Aslak Orre, a senior researcher at Chr. Michelsen Institute, a development research institute based in Norway, said young people across the region were exasperated with poor economic growth, few jobs, high public debt and austerity measures.



&#8220;And for that, they blame the politicians from a different generation, who they see as working for themselves rather than the public good,&#8221; Orre said.



In Mozambique, a disputed October election that extended the Frelimo party&#8217;s 49-year rule sparked more than three months of protests against corruption, living costs and unemployment.



&#8220;We are demanding change,&#8221; said Ronaldo António, a 25-year-old street vendor in Maputo, during December protests when crowds marched, whistled and chanted, blocking traffic with trash bins, stones and tyres.



&#8220;We eat chicken feet and necks while government officials are eating the chickens,&#8221; he added.



In Ghana, ahead of Dec. 7 presidential and parliamentary elections, young people mounted street protests against the nation’s debt crisis and high inflation, which have triggered the worst economic crisis in a generation.



Ghanaian filmmaker Kwame Addae, 26, said he voted for businessman Nana Kwame Bediako, even though he knew the newcomer would not win against seasoned politician and former president John Mahama.



&#8220;We are tired of the status quo, and I wanted someone like him (Bediako) that was thinking of the digital economy as a means to provide jobs and move us to a modern Ghana,&#8221; said Addae, adding that Bediako’s political message resonated with young voters.



Activists noted that the protests across Africa had particularly significant impact because young people can skillfully wield digital activism.



In Mozambique, Ângelo do Rosário, who is known as Maxh on social media, said he used his 1.2 million Facebook and more than 300,000 TikTok, Instagram and YouTube followers respectively to encourage young Mozambicans to demand their rights.



&#8220;(We demand) quality education in Mozambique, the availability of a decent health service and all of this the people believe is the result of the bad governance we have in Mozambique,&#8221; said Rosário.



<h2 class="wp-block-heading" id="h-police-killings-abductions">POLICE KILLINGS, ABDUCTIONS</h2>



The protests across the continent have not been without consequence.



Hundreds of young people have been detained or killed in clashes with police, and scores of protesters remain missing.



In Kenya, some prominent rights groups have accused authorities of a cover-up of dozens of alleged police killings, unexplained abductions and illegal detentions related to the Gen Z protests.



Kenya&#8217;s National Commission on Human Rights, a government-funded body, recorded 82 cases of enforced disappearances in the period between the protests, from June and December. Of those, 29 people remain unaccounted for. At least 40 people have been killed.



In Mozambique, at least 278 people have been killed in police crackdowns against protesters, and more than 2,000 families have fled and sought refuge in neighbouring Malawi.



In November, Nigeria charged 76 people, including children, with treason and inciting a military coup after deadly August protests erupted against economic hardship and spiralling inflation.



Nigerian activist Rinu Oduala &#8211; one of the organisers of prominent #EndSARS protests against police brutality in 2020 &#8211; warned that youth uprisings are unlikely to die down anytime soon.



&#8220;Protests by young people aren&#8217;t a crime, we are doing it out of love for our countries and hope for a better future &#8211; they must be seen as calls for change and what&#8217;s rightfully ours,&#8221; said Oduala, 24, who has more than 800,000 followers on X.



&#8220;But the lesson is clear: ignoring youth voices will be a huge political risk to any government going forward,&#8221; she added.



(Reporting by Nita Bhalla @nitabhalla; Bukola Adebayo @BUKAdebayo; Samuel Comé and Kim Harrisberg @KimHarrisberg. Editing by Ellen Wulfhorst. The Thomson Reuters Foundation is the charitable arm of Thomson Reuters.)

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Africa’s youth protests: A storm brewing for 2025?

<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>



Jan 13 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.



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



Stocks slid broadly in Asia on Monday while the dollar hit 14-month peaks in the wake of an unambiguously strong payrolls report that pushed up bond yields and tested lofty equity valuations just as the earnings season gets under way.



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



Oil prices extended gains for a third session on Monday, with Brent rising above $81 a barrel to its highest in more than four months, as wider U.S. sanctions are expected to affect Russian crude exports to top buyers China and India.



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



The South African rand weakened to an eight-month low on Friday after U.S. non-farm payrolls data reinforced bets that the Federal Reserve will pause its rate-cutting cycle later this month.



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



Kenya&#8217;s shilling firmed slightly against the dollar on Friday, data from the London Stock Exchange Group showed.



<h2 class="wp-block-heading" id="h-zambia-banking">ZAMBIA BANKING</h2>



Zambia&#8217;s Securities and Exchange Commission (SEC) has sanctioned Standard Chartered for mis-selling a Chinese property company&#8217;s bonds to one of the bank&#8217;s local wealth clients at the height of the Asian country&#8217;s real-estate crisis, according to a source.



<h2 class="wp-block-heading" id="h-somalia-diplomacy">SOMALIA DIPLOMACY</h2>



Somalia&#8217;s president visited Ethiopia on Saturday, his office said, the strongest sign yet of improving relations between the two neighbours after a year of tensions over Addis Ababa&#8217;s plans to build a naval base in a breakaway Somali region.



<h2 class="wp-block-heading" id="h-chad-election">CHAD ELECTION</h2>



Chad&#8217;s ruling party won two-thirds of the seats in the legislative election which was boycotted by many in the opposition last month, provisional results showed on Sunday, reinforcing President Mahamat Idriss Deby&#8217;s hold on power.



<h2 class="wp-block-heading" id="h-sudan-security">SUDAN SECURITY</h2>



Sudan&#8217;s army said on Saturday it had entered the central city of Wad Madani and was pushing out its paramilitary rivals the Rapid Support Forces (RSF), a step which if completed successfully would be its biggest gain in nearly two years of war.



<h2 class="wp-block-heading" id="h-tanzania-justice">TANZANIA JUSTICE</h2>



A prominent Tanzanian activist has been released after being &#8220;kidnapped&#8221; on Sunday by three armed men on the streets of Kenya&#8217;s capital Nairobi, her husband said, accusing Tanzania&#8217;s national intelligence service of responsibility.



((Compiled by Nairobi Newsroom))

istockphoto-1076949610-612×612-1-2

African Markets – Factors to watch on Jan 13

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" style="width:840px;height:auto" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Jan 13 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand hovered near a nine-month low early on Monday against a buoyant dollar, amid an uncertain outlook for further interest rate cuts by the Federal Reserve.



At 0721 GMT, the rand traded at 19.1525 against the dollar, about 0.3% softer than its previous close. It hit 19.2050 per dollar on Friday, its weakest level since late April.



The dollar was last trading about 0.21% stronger against a basket of currencies, after surging to its highest in over two years at the expense of emerging market currencies such as the rand.



Data on Friday showed U.S. job growth unexpectedly accelerated in December while the unemployment rate fell, underscoring the strength of the world&#8217;s largest economy and leaving traders heavily scaling back bets of Fed rate cuts in 2025.



On the stock market, the Top-40 index was down about 1%.



South Africa&#8217;s benchmark 2030 government bond was weaker, with the yield up 5.5 basis points to 9.32%.



(Reporting by Bhargav Acharya; Editing by Alison Williams)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand hovers near 9-month low against buoyant dollar

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="418" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/LYEEWJTJKRPK3GJPCKWFP3EK7E.avif" alt="" class="wp-image-573641"/><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File photo</figcaption></figure>



NAIROBI, Jan 9 (Reuters)&nbsp;&#8211;&nbsp;The Kenyan and Ugandan shillings, Ghanaian cedi and Zambia&#8217;s kwacha are all expected to ease against the dollar in the next week to Thursday, traders said.



KENYA



Kenya&#8217;s shilling&nbsp;KES=&nbsp;is forecast to weaken on increased demand for dollars from importers across all sectors of the economy.



Commercial banks quoted the shilling at 129.00/130.00 per dollar, compared with last Thursday&#8217;s close of 129.00/129.50.



&#8220;The shilling is on an upward (weakening) trend. Right now (dollar demand) is from a mix of all sectors in the economy,&#8221; a trader at one commercial bank said.



UGANDA



The Ugandan shilling&nbsp;UGX=&nbsp;is seen weakening on the back of strong demand by players in the interbank market looking to build healthy foreign exchange positions as the new year starts, traders said.



Commercial banks quoted the shilling at 3,694/3,704 on Thursday, compared to 3,673/3,683 a week ago.



&#8220;Normally as the year starts we tend to see elevated (dollar) demand,&#8221; said a trader at one commercial bank.



He said the shilling was likely to weaken to around 3,720 against the dollar.



GHANA



Ghana&#8217;s cedi&nbsp;GHS=&nbsp;is expected to remain softer against the dollar next week as demand remains subdued, traders said.



LSEG data showed the cedi trading at 14.70 to the dollar on Thursday, compared to 14.65 at last Thursday&#8217;s close.



&#8220;The cedi has been on the ropes recently, largely on the back of weaker FX flows. Demand from local corporates has also begun to ramp up, further contributing to the weaker cedi in the week,&#8221; said Sedem Dornoo, a senior trader at Absa Bank Ghana.



&#8220;It is likely that the local unit will remain under pressure in the coming week as demand continues to ramp up as several businesses kick start operations for the year,&#8221; he added.



ZAMBIA



Zambia&#8217;s kwacha&nbsp;ZMW=&nbsp;is likely to remain under pressure against the dollar as a severe drought continues to weigh on the local currency.



On Thursday, the currency of Africa’s second largest copper producer was trading at 27.9000 compared to 27.7750 last Thursday. It has hit a series of record lows since the start of the year.



&#8220;The drought has resulted in significant payments for imported electricity and reduced copper production – a key foreign currency earner – weighing on the kwacha,&#8221; Access Bank said in a note on Thursday.



(Reporting by George Obulutsa, Elias Biryabarema, Christian Akorlie and Chris Mfula; Editing by Kirsten Donovan)

LYEEWJTJKRPK3GJPCKWFP3EK7E

AFRICA-FX – African currencies seen weakening

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/FHI2NVCH5ZJB7MSERIE6PSCJPE.avif" alt="" class="wp-image-573381"/><figcaption class="wp-element-caption">A woman displays a selection of Kwacha notes, the national currency and money used in Zambia in Lusaka, Zambia February 27, 2024. REUTERS/Namukolo Siyumbwa/File Photo</figcaption></figure>



LUSAKA, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;Zambia&#8217;s kwacha&nbsp;ZMW=&nbsp;has hit a series of record lows since the start of the year as a severe drought keeps the pressure firmly on the copper-producing Southern African country&#8217;s economy.



Analysts had hoped Zambia&#8217;s emergence from default early last year would have helped sentiment, but the currency is now roughly 3% below where it was before its debt restructuring deal and has fallen nearly 15% over the last six months.



It was trading at 27.95 per dollar on Wednesday, just above the latest record low of 28.05 on Tuesday.



&#8220;Zambia is in a state of severe drought, and this appears to manifest in currency weakness as the hydroelectrically dependent country faces an industrial slowdown,&#8221; Access Bank Zambia said in a research note.



&#8220;Mining companies are being forced to reduce copper production, a key foreign revenue earner,&#8221; it added.



The severe effects of El Niño caused the worst dry spell in southern Africa in a century last year, devastating crop production and forcing Zambia&#8217;s authorities to cut electricity generation on the Kariba dam, the biggest source of electricity.



The kwacha plunged when Zambia defaulted on $11 billion worth of external debt in November 2020, but saw a brief 20% jump last February when it became clear its restructuring efforts were going to be successful.



One financial analyst in Lusaka said some companies had sold dollars during Wednesday&#8217;s session in preparation for local tax payments next week, offering some support to the kwacha.



(Reporting by Chris Mfula; Writing by Duncan Miriri; Editing by Marc Jones and Christina Fincher)

FHI2NVCH5ZJB7MSERIE6PSCJPE

Zambia’s currency stuck at record low as drought persists

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/AXGKYDH4PFJ6TDMBPUR33LNVXM.avif" alt="" class="wp-image-573364"/><figcaption class="wp-element-caption">A general view of the Makola market, one of the country&#8217;s largest trading centres in Accra, Ghana March 26, 2022. Picture taken March 26, 2022. REUTERS/Francis Kokoroko/File Photo</figcaption></figure>



ACCRA, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;Ghana&#8217;s consumer inflation&nbsp;GHCPIY=ECI&nbsp;rose for a fourth month in a row in December, to 23.8% year on year from 23.0% in November, the statistics service said on Wednesday.



Government statistician Samuel Kobina Annim told a news conference that the latest increase was driven by higher food prices.



&#8220;The rate of inflation&#8230; is the third highest in the last 13 months and highest in the last eight months,&#8221; Annim said.



The West African gold and cocoa producer has been struggling to emerge from its worst economic crisis in a generation.



President John Dramani Mahama, who was sworn in for a second term on Tuesday, has pledged to tackle inflation and currency depreciation to mitigate Ghana&#8217;s cost-of-living crisis.



(Reporting by Maxwell Akalaare Adombila and Christian Akorlie; Writing by Anait Miridzhanian;Editing by Bernadette Baum and Christina Fincher)

AXGKYDH4PFJ6TDMBPUR33LNVXM

Ghana inflation rises for fourth straight month in December

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/FN6SHZMGJVMXJICANZS4G326BA.avif" alt="" class="wp-image-573328"/><figcaption class="wp-element-caption">A general view shows the Tetra Pak factory floor in Durban, South Africa, April 4, 2024. REUTERS/Rogan Ward/File photo</figcaption></figure>



JOHANNESBURG, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;South African manufacturing activity fell for the second month in a row in December, a local purchasing managers&#8217; index (PMI) survey showed, as demand declined.



The seasonally-adjusted PMI sponsored by South African bank Absa slipped to 46.2 points in December 2024 from 48.1 points in November, remaining below the 50-point mark that separates expansion from contraction of manufacturing output in Africa&#8217;s most industrialised economy.



&#8220;The manufacturing sector experienced a volatile 2024, with this second consecutive monthly decline in December reversing the upward momentum seen in September and October,&#8221; Absa said in a statement.



The business activity index fell 8.7 points to 40.3, and the new sales orders sub-index also fell.



&#8220;Worryingly, some respondents noted that conditions in December 2024 were worse than usually seen in December,&#8221; Absa added.



But the bank said the sub-index which measures expected business conditions in six months&#8217; time rose in December, showing that manufacturers remain positive about future business conditions.



Export sales figures fell to levels seen in the first half of 2024, while the supplier deliveries index moved above 50 points for the first time in three months.



(Reporting by Tannur Anders; Editing by Tim Cocks)

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South African factory sector contracts for second consecutive month in December, Absa PMI shows

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-573311" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.



ECONOMIC EVENTS



South Africa&#8217;s December reserves data



Absa manufacturing sector PMI survey



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand slipped against a resurgent dollar on Tuesday, after positive U.S. data suggested the Federal Reserve would likely be cautious in cutting interest rates.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index closed about 1% lower.&nbsp;.JZAR/



GLOBAL MARKETS



Asian stocks drifted lower on Wednesday, with a robust dollar keeping the yen pinned near six-month lows as traders wagered the Federal Reserve will likely be slow in cutting rates after data showed the U.S. economy and labour market remained stable.MKTS/GLOB



WALL STREET



U.S. stocks tumbled on Tuesday after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve&#8217;s pace of monetary policy easing.&nbsp;.N



GOLD



Gold prices edged lower on Wednesday, pressured by higher U.S. Treasury yields and a stronger dollar after data suggested the Federal Reserve might slow the pace of rate cuts this year.GOL/



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



BUSINESS DAY



&#8211; IMF says Reserve Bank is a model of transparency but must do more



&#8211; A fun year ahead for deal making



FIN 24



&#8211; Naspers group loses R225bn as US labels Tencent a &#8216;Chinese military company&#8217;



(Compiled by Sfundo Parakozov; Editing by Tannur Anders)

South African Markets – Factors to watch on Jan 8

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="440" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/N6JMI7GRCBPGVF6Q5MVQNIPZDY.avif" alt="" class="wp-image-573067"/><figcaption class="wp-element-caption">A worker walks by an oil well at the Toma South oil field to Heglig, in Ruweng State, South Sudan August 25, 2018. REUTERS/Jok Solomun/File photo</figcaption></figure>



JUBA, Jan 7 (Reuters)&nbsp;&#8211;&nbsp;South Sudan aims to resume oil production at its Blocks 3 and 7 on Jan. 8 with&nbsp;an initial&nbsp;output&nbsp;target of&nbsp;90,000 barrels per day, Petroleum Minister Puot Kang Chol said on Tuesday.



South Sudan&#8217;s economy has been under pressure in recent years amid communal violence while vital crude oil export revenue has been hurt by export disruptions due to war in Sudan.



Over the weekend, Sudan lifted a nearly year-long force majeure on the transport of crude oil from its neighbour South Sudan to a port on the Red Sea after security conditions improved.



&#8220;You all know it is going to be a gradual process, you will not get the required figure in one day, but our target is 90,000 barrels a day,&#8221; Chol told a news conference.



&#8220;This is what the pipeline will accommodate in the first phase and then there after if we have the capacity to increase more than that we shall do so.&#8221;



Chol also said the government has reached an agreement with Petronas to pay off its shares until it finds a new partner to replace the Malaysian producer, who announced in August it would exit the country after nearly three decades of operations.



Petronas said at the time its unit had initiated proceedings against South Sudan on accusations of blocking a $1.25 billion sale of its local assets and of taking over the business.



Chol said the arrangement would not affect Petronas&#8217; partners; China National Petroleum Corporation, SINOPEC and Tri-Ocean Energy.



Prior to the war in Sudan, South Sudan had been pumping about 150,000 barrels per day of crude through Sudan for export, under a formula established when South Sudan gained independence from Khartoum in 2011.



(Reporting by Denis Elamu, writing by George Obulutsa; Editing by Elisha Bala-Gbogbo and Jason Neely)

N6JMI7GRCBPGVF6Q5MVQNIPZDY

South Sudan to restart pumping crude oil on Jan 8, minister says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="397" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/KE6WLMXLLRKUPODPWLRXZ6RVSI.avif" alt="" class="wp-image-573024"/><figcaption class="wp-element-caption">A motorist drives on the controlled section during the construction of the Nairobi Expressway, undertaken by the China Road and Bridge Corporation (CRBC) on a public-private partnership (PPP) basis, along Uhuru highway in Nairobi, Kenya August 5, 2021. REUTERS/Thomas Mukoya/File photo</figcaption></figure>



NAIROBI, Jan 7 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s economic growth slowed in the third quarter of 2024 from the same period a year earlier due to underperformance in most sectors of the economy, the statistics office said on Tuesday.



The economy&nbsp;KEGDPQ=ECI&nbsp;grew 4.0% year-on-year from 6.0% in the same quarter the previous year, the Kenya National Bureau of Statistics said in a statement.



&#8220;The decelerated growth was largely due to a general decline in growth in most sectors of the economy. The growth was constrained by contractions in construction and mining and quarrying activities,&#8221; the statistics office said.



Construction activities contracted 2.0% while mining and



quarrying shrank 11.1%, the office said.



Growth in agriculture, forestry and fishing, transportation and storage activities, financial and insurance activities, real estate activities, wholesale and retail activities and accommodation and food service activities helped cushion the economy from slowing further, the statistics office said.



Nationwide protests against proposed tax increases at the end of the second quarter resulted in disruptions and incidents of violence in major towns.



President William Ruto subsequently scrapped the tax measures, but demonstrations persisted into the third quarter, with protesters calling for better governance, an end to corruption and better service delivery.



The World Bank has downgraded Kenya&#8217;s economic growth estimate for 2024 to 4.7%, from an initial 5.0%, citing the impact of floods, anti-government protests and faltering fiscal consolidation efforts.



The finance ministry has estimated that the economy expanded 5.2% in 2024 and projects growth of 5.4% in 2025. The economy grew 5.6% in 2023.



(Reporting by George Obulutsa and Hereward Holland; Editing by Ed Osmond and Jacqueline Wong)

KE6WLMXLLRKUPODPWLRXZ6RVSI

Kenya’s Q3 GDP growth slows on weak construction, mining sectors

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-820x462.jpeg" alt="" class="wp-image-452310" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118.jpeg 929w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Gold purchases from central banks led to last year’s surge, with purchases exceeding 1,000 tons for two consecutive years.
Traffic_analyzer | Istock | Getty Images</figcaption></figure>



Commodity prices are largely expected to fall in 2025 due to a sluggish global economic outlook and a resurgent dollar, but gold and gas prices are poised to rally this year, according to industry experts.



Commodities had a mixed 2024: While investors flocked to gold to hedge against inflation, commodities such as iron ore fell as the world’s largest consumer of metals, China, struggled with tepid growth. The story this year is likely to be the same.



“Commodities in general will be under pressure across the board in 2025,” said research firm BMI’s head of commodities analysis Sabrin Chowdhury, adding that the strength of the U.S. dollar will cap demand for commodities priced in the greenback.&nbsp;



Market participants will be keeping an eye on further China stimulus in hopes that it may fuel a recovery in commodities demand in the world’s second-largest economy.&nbsp;



<h2 class="wp-block-heading" id="h-oil-prices-to-slip"><a></a>Oil prices to slip</h2>



Crude oil prices last year were dragged down by weak Chinese demand and a supply glut, and market watchers expect prices to remain pressured in 2025.



The International Energy Agency in November painted a bearish oil market picture for 2025, forecasting global oil demand to grow under a million barrels per day. This compares to a two million barrel per day increase in 2023.



Commonwealth Bank of Australia sees Brent oil prices falling to $70 per barrel this year on expectations increased oil supply from non‑OPEC+ countries that’ll eclipse the rise in global oil consumption.



BMI said in its December note that the first half of 2025 was likely to see a supply glut as substantial new production from U.S., Canada, Guyana and Brazil comes online.&nbsp;Also, if OPEC+ plans to roll back voluntary cuts materialize, the oversupply will further pressure prices.



BMI noted that the demand picture in 2025 was not clear yet. “Global oil and gas demand remains uncertain, with stable economic growth and rising fuel demand offset by trade war impacts, inflation and contracting demand in developed markets.”



Global crude benchmark Brent was last trading at $76.34 per barrel, around the same levels as it was a year ago in early January.



<h3 class="wp-block-heading">Gas set to rise</h3>



Global natural gas prices have rallied since mid-December 2024, driven by cold weather and geopolitics, Citi analysts said.



Ukraine’s recent halt of Russian gas flow to several European nations on New Year’s Day has introduced greater uncertainty to the global gas markets. As long as the cutoff remains in place, gas prices are likely to remain elevated.



Colder weather for the rest of winter in the U.S. and Asia could also keep prices elevated, said Citi.



BMI forecasts gas prices to rise by about 40% in 2025 to $3.4 per million British thermal units (MMbtu) compared to an average of $2.4 per MMbtu in 2024, driven by growing demand from the LNG sector and higher net pipeline exports.&nbsp;



U.S. Henry Hub natural gas prices, which was the gauge that BMI referred to, are currently trading at $2.95 per MMbtu.



“LNG will continue to drive new consumption, supported by rising export capacity and strong demand in Europe and Asia,” BMI analysts wrote.&nbsp;



<h3 class="wp-block-heading">Gold may add sheen</h3>



Gold prices notched a slew of all-time highs last year, and the run of fresh records could extend in 2025.



“Investors are optimistic about gold and silver for 2025 because they are so pessimistic on geopolitics and government debt,” said Adrian Ash, director of research at BullionVault, a gold investment services firm, emphasizing on the yellow metal’s role as a hedge against risk.&nbsp;



JPMorgan analysts also expect gold prices to rise, especially if U.S. policies become “more disruptive” in the form of increased tariffs, elevated trade tensions and higher risks to economic growth.&nbsp;&nbsp;



Gold notched its best annual performance in over a decade last year. Bullion prices rose about 26% in 2024, data from FactSet showed, driven by central bank as well as retail investor purchases.



BullionVault and JPMorgan expect gold prices to go up to $3,000 per ounce in 2025.



<h3 class="wp-block-heading">Silver and platinum likely to advance</h3>



Gold’s poorer cousin, silver, could also see prices rise, especially as demand for solar power — silver is used in building solar panels — remains resilient and the metal’s supply stays limited.



“Both silver and platinum have strong underlying deficit fundamentals, and we think a catch up trade later in 2025, once base metals find firmer footing, could be quite potent,”&nbsp;JPMorgan analysts noted.&nbsp;



Silver is primarily utilized in industrial applications and is frequently incorporated in the production of automobiles, solar panels, jewelry and electronics. It is also needed in building artificial intelligence products and has military applications as well, said CIO of Swiss Asia Capital’s CIO Juerg Kiener.



That said, silver’s upside will be dependent on global industrial demand which will be impacted by Trump’s tariffs, precious metals trading services group MKS Pamp wrote in an outlook report.



<h3 class="wp-block-heading">Copper faces demand worries</h3>



Prices of copper, which is key to the manufacturing of electric vehicles and power grids, may see a dent after shooting to a record high this year on the back of a global energy transition.



“A potential deceleration in energy transition amid Trump’s policy shifts might dampen, to some extent, the ‘green sentiment’ that bolstered prices in 2024,” BMI wrote in a note.



While copper prices rose to a record high in May 2024 largely as a result of a squeezed market, they trended lower for the rest of the year, and will continue to do so, John Gross, president at the eponymous metals management consultancy John Gross and Company, told CNBC.



A cocktail mix of high inflation, elevated interest rates and a stronger dollar will weigh on all metals markets, the metals market veteran said.



<h3 class="wp-block-heading">Iron ore forecast to drop</h3>



Iron ore prices may also slide on the back of an oversupply resulting from Chinese policies and geopolitics.&nbsp;



“The expected U.S. tariffs on China, changing nature of Chinese stimulus and new low-cost supply [will] push the market into further surplus,” Goldman Sachs said, forecasting prices to decline to $95 per ton in 2025.



This despite China likely to import record amount of iron ore this year, according to Reuters. Iron ore prices fell over 24%, according to data from FactSet.



<h3 class="wp-block-heading">Cocoa and coffee</h3>



Cocoa and coffee prices stand out amongst the soft commodities basket, having scaled record highs in 2024 fueled by adverse weather conditions and supply tightness in key producing regions. But demand may taper in 2025.



“Given that these commodities are trading at levels well above cost of production, we expect production to expand and demand to contract in the coming year,” Rabobank researchers said.

107308670-1695930955313-gettyimages-1478432952-118

Several commodities face headwinds in 2025 — but this metal’s record rally is set to continue

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108076833-1734433401543-gettyimages-1981155057-q1015064_nluf1lrf-820x462.png" alt="" class="wp-image-567109" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108076833-1734433401543-gettyimages-1981155057-q1015064_nluf1lrf-820x462.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108076833-1734433401543-gettyimages-1981155057-q1015064_nluf1lrf-300x169.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108076833-1734433401543-gettyimages-1981155057-q1015064_nluf1lrf-160x90.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108076833-1734433401543-gettyimages-1981155057-q1015064_nluf1lrf-768x432.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108076833-1734433401543-gettyimages-1981155057-q1015064_nluf1lrf.png 1480w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker prepares a flight of drinking chocolate for a customer at Katherine Anne Confections, an artisanal chocolate shop and cafe on February 02, 2024 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images</figcaption></figure>



The price of chocolate’s key ingredient has skyrocketed this year, prompting analysts to issue fresh warnings about extreme price volatility.



Cocoa futures for March delivery in New York traded as much as 1% higher at $11,938 per metric ton on Tuesday, notching yet another record high. It has since pared some of those gains, trading at $11,864 at around 8:20 a.m. ET.



The benchmark contract, which hit an all-time intraday high of $11,925 in the previous session, is up over 180% year-to-date.



It comes amid renewed concerns about adverse weather conditions and supply tightness in West Africa, home to around three-quarters of the world’s cocoa production.



Strategists at Dutch bank ING said persistent tightness in cocoa and coffee markets, coupled with weather uncertainty, meant that prices were likely to remain volatile through next year.



The global cocoa market registered its largest deficit in over 60 years in the 2023-2024 marketing year, ING said in a research note, citing data from the International Cocoa Organization (ICCO). It attributed this shortfall to crop failures in Ivory Coast and Ghana, the world’s largest cocoa producers.



“While prospects for the 2024/25 marketing year are looking better, there are still concerns over weather developments in West Africa and what it could mean for output this season,” Warren Patterson, head of commodities strategy at ING, said in a note published Dec. 11.



“Forecasts currently show that West African output – which accounts for more than 70% of global output – will edge higher. However, there are risks to this due to recent poor weather,” he continued.



Looking ahead, Patterson said prices were likely to remain historically elevated next year, which will be necessary “to keep a lid on demand.”



<h2 class="wp-block-heading" id="h-commodity-markets-remain-very-dangerous"><a></a>Commodity markets remain ‘very dangerous’</h2>



Like cocoa, coffee prices have also soared in 2024, with analysts recently warning it could take years for one of the world’s most traded commodities to recover.



Rabobank’s Carlos Mera singled out cocoa and coffee as commodities of interest to professional traders, although cautioned that commodity markets remain “very volatile” and “very dangerous.”



″[Cocoa] is one of the most obscure commodities so I wouldn’t advise anyone that doesn’t know to go in there but certainly it is one of the most fun commodities to look at,” Mera told CNBC’s “Squawk Box Europe” on Tuesday.



“And then coffee, we have another spike. Coffee has hit its highest price since 1977 [and] depending on which contract you look [at], it might be a historical record and record robusta prices as well … It is quite an interesting situation,” he added.

108076833-1734433401543-gettyimages-1981155057-q1015064_nluf1lrf

Cocoa prices climb to new record high, prompting fresh warnings about extreme volatility

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Dec 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand slipped against a stronger dollar on Tuesday, as investors turn their attention to the Federal Reserve&#8217;s interest rate decision.



At 0820 GMT, the rand traded at 17.93 against the greenback, about 0.4% weaker than its previous close.



The dollar index was last trading up about 0.2% against a basket of currencies.



The Fed will announce its interest rate decision on Wednesday, with markets expecting a 25 basis point cut, but the focus will also be on the central bank&#8217;s tone on rates for the year ahead.



&#8220;A conservative tone will likely support the USD and pressure EM (emerging market) currencies, including ZAR,&#8221; said Andre Cilliers, Currency Strategist at TreasuryONE.



On the stock market, the Top-40 index was down about 0.9%.



South Africa&#8217;s benchmark 2030 government bond was slightly weaker, with the yield up 1 basis point at 8.93%.



(Reporting by Bhargav Acharya; Editing by Kirsten Donovan)

South African rand weakens ahead of Fed decision

<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>



NAIROBI, Dec 17 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.



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



-Ethiopian lawmakers to consider new laws that might allow foreign banks to operate in the country



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



Asian stocks wobbled while the dollar held firm on Tuesday as traders braced for a slate of central bank meetings this week that is likely to see the U.S. Federal Reserve deliver a rate cut and the Bank of Japan stand pat for now.



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



Oil prices eased further on Tuesday as China&#8217;s economic data renewed demand concerns, while investors remained cautious ahead of the U.S. Federal Reserve&#8217;s interest rate decision.



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



The Kenyan shilling held steady in Monday&#8217;s trading session compared to its last close, as trading activities slowed ahead of the Christmas holidays, according to traders.



<h2 class="wp-block-heading" id="h-nigeria-inflation">NIGERIA INFLATION</h2>



Nigeria&#8217;s inflation rate rose for the third straight month in November, advancing to 34.60% in annual terms from 33.88% in October, data from the statistics agency showed on Monday.



<h2 class="wp-block-heading" id="h-nigeria-oil">NIGERIA OIL</h2>



Shell said on Monday its Nigerian subsidiary has announced a final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria.



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



Barrick Gold will suspend operations in Mali if gold shipments continue to be blocked, the company said on Monday as it struggles to reach agreement with authorities on a new mining code in the West African country.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Dec 17

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg" alt="" class="wp-image-404443" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg 1254w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering</figcaption></figure>



NAIROBI, Dec 13 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.



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



Asia shares fell on Friday as a strong dollar kept risk sentiment fragile, while longer-dated Treasury yields are heading for their biggest weekly rise this year as expectations for deep U.S. rate cuts in 2025 recede.



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



Oil prices inched lower on Friday as investors focused on a forecast of ample supply and shrugged off expectations of higher demand next year from Chinese stimulus measures, while eyeing another Federal Reserve interest rate cut next week.



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



The South African rand was steady against the dollar on Thursday, after the release of third quarter employment data and producer inflation figures.



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



The Ghanaian and Ugandan currencies are expected to continue strengthening against the dollar in the next week to Thursday, while Nigeria&#8217;s and Zambia&#8217;s could be broadly steady, traders said.



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



Ivory Coast&#8217;s cocoa grind rose 16.1% year-on-year in November to 60,694 metric tons, data from exporter association GEPEX showed on Thursday.



((Compiled by Nairobi Newsroom))

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Several commodities face headwinds in 2025 — but this metal’s record rally is set to continue

Cocoa prices climb to new record high, prompting fresh warnings about extreme volatility

South African rand weakens ahead of Fed decision

African Markets – Factors to watch on Dec 17

African Markets – Factors to watch on Dec 13

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Economy

South African rand retreats against sturdy dollar after Trump swearing in

South African rand firms ahead of Trump inauguration

Africa’s youth protests: A storm brewing for 2025?

African Markets – Factors to watch on Jan 13

South African rand hovers near 9-month low against buoyant dollar

AFRICA-FX – African currencies seen weakening

Zambia’s currency stuck at record low as drought persists

Ghana inflation rises for fourth straight month in December

South African factory sector contracts for second consecutive month in December, Absa PMI shows

South African Markets – Factors to watch on Jan 8

South Sudan to restart pumping crude oil on Jan 8, minister says

Kenya’s Q3 GDP growth slows on weak construction, mining sectors

Several commodities face headwinds in 2025 — but this metal’s record rally is set to continue

Cocoa prices climb to new record high, prompting fresh warnings about extreme volatility

South African rand weakens ahead of Fed decision

African Markets – Factors to watch on Dec 17

African Markets – Factors to watch on Dec 13

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