Market News

NAIROBI, April 17 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

GLOBAL MARKETS

Asian stocks wavered on Thursday after Federal Reserve Chair Jerome Powell warned of the risk of slowing growth and rising prices due to tariffs, while the uncertainty around U.S. trade policies kept the dollar rooted near three-year lows.

WORLD OIL PRICES

Oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged more output cuts to compensate for pumping above agreed quotas.

SOUTH AFRICA MARKETS

South African assets firmed on Wednesday as uncertainty around U.S. tariffs lifted gold prices to record highs and depressed the dollar.

KENYA MARKETS

The Kenyan shilling was marginally stronger against the dollar on Wednesday, LSEG data showed.

KENYA BANKING

The Central Bank of Kenya (CBK) will lift a decade-long moratorium on licensing new commercial banks on July 1, it said on Wednesday.

KENYA ROADS FUNDING

Kenya has received $600 million in short-term financing from commercial banks, backed by the country’s fuel levy collections from motorists, the finance minister said on Wednesday, to fund construction of roads in the face of budgetary constraints.

MALI ECONOMY

The IMF on Wednesday said it would release $129 million to Mali from its Rapid Credit Facility that will help the country address balance of payment needs following floods there.

GAMBIA ECONOMY

The International Monetary Fund and Gambian authorities reached a staff-level agreement that would give the West African nation access to part of $100.9 mln in funding approved in 2024, the IMF said in a statement.

GHANA MINING

Ghana has assumed operational control of Gold Fields’ Damang mine after it rejected an application from the South African company to renew its lease, the government said on Wednesday, breaking a tradition of automatically renewing licenses and calling it a critical step in the country’s “economic reset.”

NAMIBIA CENTRAL BANK RATE

Namibia’s central bank held its main interest rate on Wednesday, citing heightened global policy uncertainty as it raised its inflation forecasts for this year and next.

((Compiled by Nairobi Newsroom))