Market News
African Markets – Factors to watch on March 26 - REUTERS
March 26 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
EVENTS:
Kenya’s Finance Minister John Mbadi will launch the government’s medium term strategy, laying out his plans to keep the government afloat amid high debt service costs and squeezed revenues.
GLOBAL MARKETS
Asian stocks followed Wall Street higher on Wednesday and the U.S. dollar meandered as markets awaited clarity on President Donald Trump’s trade policy ahead of a new round of tariffs next week.
WORLD OIL PRICES
Oil prices climbed on Wednesday in early Asia trade on concerns of tighter supplies after U.S. President Donald Trump threatened tariffs against countries importing oil and gas from Venezuela and after U.S. crude inventories fell more than expected.
South Africa’s rand gained on Monday as investors awaited clarity on the next round of tariffs from U.S. President Donald Trump.
KENYA MARKETS
The Kenyan shilling was stable on Tuesday, supported by inflows of foreign exchange from several sectors including horticulture, traders said.
SUDAN POLITICS
A Sudanese paramilitary force locked in a war with the army has placed new constraints on aid deliveries to territories where it is seeking to cement its control, including areas where famine is spreading, humanitarian workers say.
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CONGO SECURITY
Rwandan-backed M23 rebels in eastern Democratic Republic of Congo battled militiamen allied with the government on Tuesday as regional countries tried to give fresh impetus to faltering peace initiatives.
SOUTH SUDAN SECURITY
South Sudan’s First Vice President Riek Machar has accused Uganda of violating a United Nations arms embargo by entering the country with armoured and air force units, and conducting airstrikes there.
BURUNDI SECURITY
Burundi’s President Evariste Ndayishimiye said he had seen “credible intelligence” that Rwanda has a plan to attack his country, whose forces have battled Rwandan-backed rebels in neighbouring Democratic Republic of Congo.
((Compiled by Nairobi Newsroom))
