MARKET NEWS

NAIROBI, Feb 21 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS

Asian shares rose on Friday, reversing Wall Street’s negative lead as the U.S. exceptionalism narrative continued to lose its shine, while once unloved Chinese stocks found themselves more buyers thanks to optimism over artificial intelligence (AI).

WORLD OIL PRICES

Oil prices extended gains on Friday, headed for a weekly increase, as falling inventories of U.S. gasoline and distillate raised expectations of solid demand while concerns over supply disruptions in Russia lent support.

SOUTH AFRICA MARKETS

South Africa’s rand strengthened against a weaker dollar on Thursday, as investors digested U.S. data and President Donald Trump’s tariff plans.

NIGERIA CENTRAL BANK RATE

Nigeria’s central bank left its benchmark interest rate unchanged on Thursday after six hikes last year, saying that it was reassured by stability in the foreign exchange market and saw inflation gradually falling.

AFRICA CURRENCIES

The Kenyan, Nigerian, Ghanaian and Zambian currencies are expected to be broadly stable in the next week to Thursday, while Uganda’s could come under pressure, traders said.

KENYA MARKETS

Kenya’s shilling was stable on Thursday, but traders expect it to weaken soon as importers increase their dollar purchases.

DEMOCRATIC REPUBLIC OF CONGO SECURITY

The United States on Thursday said it was imposing sanctions on a Rwandan government minister and a senior member of an armed group for their alleged role in the conflict in the eastern Democratic Republic of Congo (DRC).

IVORY COAST SECURITY

France said on Thursday it would keep 80 military personnel in Ivory Coast largely for training purposes, as it handed over control of a military base in the commercial capital amid a scaling back of its forces across West and Central Africa.

IVORY COAST COCOA

Ivory Coast’s cocoa grind fell 0.2% year-on-year in January to 63,225 metric tons, data from exporter association GEPEX showed on Thursday.

GHANA ECONOMY

Ghana’s government and the labour unions have agreed to increase public servants’ salaries by 10%, they said in a joint statement on Thursday, as the new administration prepares to present its budget next month.

NIGER POLITICS

A commission in military junta-led Niger has recommended a minimum five-year transition to democratic rule following national discussions, officials said.

(Compiled by Nairobi Newsroom)