African Markets – Factors to watch on Aug.31

    NAIROBI, Aug 31 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
    - - - - -
 EVENTS:
 *Kenya, Uganda to release their consumer inflation data for
 August.
 *KENYA - The central bank to auction 91-day, 182-day and
 364-day Treasury bills worth a total 24 billion shillings.
 
 GLOBAL MARKETS
 Investors rediscovered a taste for the dollar and Asian
 shares on Thursday as upbeat Chinese and U.S. economic news
 whetted appetite for riskier assets globally, even as
 tensions over North Korea simmered in the
 background.                       
 
 WORLD OIL PRICES
 Tropical Storm Harvey's effect on the energy industry has
 spread beyond flooded U.S. refiners as fuel pipelines are
 also shut, threatening a supply squeeze around the country
 and roiling world markets as traders scramble to find
 alternative supplies.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand fell very slightly on Wednesday after
 data showed private sector credit demand growth slowed in
 July.            
 
 NIGERIA PRESIDENT
 Nigeria's President Muhammadu Buhari on Wednesday chaired
 his first cabinet meeting since returning from sick leave in
 Britain this month.                
 
 NIGERIA ELECTRICITY
 Nigeria has approved the construction of a $5.8 billion
 hydroelectric power plant by a Chinese state firm, the power
 minister said on Wednesday, the latest in a series of
 Chinese deals since the project was first envisioned decades
 ago.            
 
 KENYA MARKETS
 The Kenyan shilling        was unchanged against the dollar
 on Wednesday as the market awaits a court ruling on the
 outcome of a petition challenging the results of the
 presidential election earlier this month.            
 
 UGANDA MARKETS
 The Ugandan shilling        was firm on Wednesday, supported
 by typical end-month hard currency inflows from charities
 and commodity exporters weighing against scant
 demand.                
 
 GHANA ECONOMY
 The International Monetary Fund (IMF) approved an extension
 of an aid package for Ghana initially worth $918 million
 that will see the programme continue for an extra year
 beyond its original April 2018 end date, it said on
 Wednesday.            
 
 SOUTH SUDAN UNREST
 South Sudanese soldiers are passing through the territory of
 neighbouring Uganda to launch assaults against rebels,
 raising the risk of the civil war spilling over into
 neighbouring East African countries, South Sudanese rebels
 and witnesses said.            
 
 CAMEROON ECONOMY 
 Cameroon's economic growth rate will slip to around 4
 percent this year, down from a revised 2016 rate of 4.5
 percent because of a slowdown in its oil and gas sector, the
 International Monetary Fund (IMF) said on
 Wednesday.            
 
 SIERRA LEONE MUDSLIDE
 The bodies of 19 people thought to have perished in a
 mudslide in Sierra Leone more than a fortnight ago have
 washed up on Guinea's shores, the government in Conakry said
 on Wednesday.             
 
 SOMALIA SECURITY
 A raid involving U.S. troops in Somalia has caused a rift
 between the precarious U.S.-backed government and a powerful
 clan that says innocent farmers were massacred, months after
 President Donald Trump approved stepped-up operations
 there.                
 
 ETHIOPIA AID
 An abattoir located among herding communities in Ethiopia's
 eastern Somali region, known more for droughts and famine
 than business opportunities, is an unusual stop for a U.S.
 aid administrator.                
 
 ZAMBIA MINING
 Zambian electricity utility Copperbelt Energy Corporation
 (CEC) and Glencore's          Mopani Copper Mines have
 reached an agreement to restore full power supply to the
 mine from Wednesday, the president's office said on
 Wednesday.            
 
 RWANDA POLITICS
 The brother of a leading critic of Rwandan President Paul
 Kagame said on Wednesday she had been taken from her home by
 police along with four family members, something police
 denied.            
 
 IVORY COAST COCOA
 Ivory Coast sold forward 1.32 million tonnes of its 2017/18
 cocoa crop by Aug. 25 as it anticipates a drop in output,
 two sources from the marketing board, the Coffee and Cocoa
 Council (CCC), said on Wednesday.             
 
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Source
Reuters: Ivory Coast News




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