African Markets – Factors to watch on April 13 – Reuters

NAIROBI, April 13 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
– – – – –
EVENTS:
*NAMIBIA – Bank of Namibia announces its decision on its
main lending rate.
*GHANA – Ghana Statistical Service releases consumer
inflation data for March.
*KENYA – The central bank to auction 182-day and 364-day
Treasury bills worth a total 12 billion shillings.

GLOBAL MARKETS
Asian share markets extended early gains on Wednesday after
upbeat Chinese trade data offered hope the economy was
stabilising, underpinning both risk sentiment and commodity
prices.

WORLD OIL PRICES
Oil futures fell in Asian trade on Wednesday as
profit-taking and concern over a larger-than-expected build
in U.S. crude stocks outweighed a report that Russia and
Saudi Arabia had reached consensus on an oil output cap.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand firmed for the third day against the
dollar on Tuesday, riding on increased appetite for emerging
markets and as local political headlines which have weighed
on the currency in recent weeks took a back seat

NIGERIA MARKETS
Nigeria plans to raise 167.51 billion naira ($843.67
million) in treasury bills with maturities ranging between
3-month and 1-year on April 20, the central bank said on
Tuesday.

NIGERIA CHINA LOAN
China has offered Nigeria a loan worth $6 billion to fund
infrastructure projects, the Nigerian foreign minister said
on Tuesday.
Also, Dangote Group, the company owned by Africa’s
richest man Aliko Dangote, signed a deal on Tuesday for a $2
billion loan from the Industrial Commercial Bank of China
Ltd for two cement plants, he told
Reuters.

NIGERIA INFLATION
Nigeria’s annual inflation rose to a near four year high of
12.8 percent in March from 11.4 percent in February, driven
by a rise in food prices, the National Bureau of Statistics
said.

KENYA MARKETS
The Kenyan shilling held steady on Tuesday and
traders said it was likely to strengthen as tight liquidity
forces banks to sell their dollars to fund the local
currency.

ZIMBABWE COMPANY OWNERSHIP
Zimbabwe’s black empowerment policy that aims to transfer
majority shares from foreign-owned firms to locals is
confusing potential investors and makes it hard to compete
for foreign investment, President Robert Mugabe said on
Tuesday.