The following announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets.
Most Asian stock markets slipped on Monday after three consecutive weeks of gains as a retreat in oil prices made investors cautious, but losses were tempered by hopes that China may soon cut interest rates again as pressure on the Yuan eases.
SOUTH AFRICA MARKETS
South African financial markets is closed for a national holiday on Monday, March 21. Trading in Johannesburg will resume on Tuesday.
Nigerian exports slumped 40.3 percent last year after a fall in crude prices slashed government revenues, weakened the currency and caused the economy to grow at its slowest pace in decades, the national bureau of statistics (NBS) said Nigeria's overnight interbank lending rate inched up marginally week-on-week to an average 6 percent on Friday, up from 5.5 percent last week, as the naira cash level dropped after payment for bonds and treasury bills purchases.
Kenya's shilling was stable in early trading on friday, supported by inflows of foreign exchange from charities and horticultural exports that helped meet demand for dollars from energy and telecom firms.
SOUTH AFRICA BUDGET
South Africa's ruling party has full confidence in President Jacob Zuma, its Secretary General Gwede Mantashe said on Sunday after a three-day party summit following allegations of political interference by Zuma's business friends.
EAST AFRICA OIL
Kenya and Uganda's presidents and oil company executives will meet on Monday to hold further discussions on a route for a pipeline to transport the two countries' oil, the Kenyan president's spokesman said on Sunday.
Tanzania's semi-autonomous Zanzibar archipelago went to the polls on Sunday amid tight security in a re-run of disputed elections that have been boycotted by the main opposition party.
Police fired tear gas at opposition supporters in Congo Republic on Sunday, witnesses said, after voting ended in a poll expected to see long-time leader Denis Sassou Nguesso extend his three-decade rule.
(by Edith Honan)
South Africa has moved up a notch in terms of its overall competitiveness. This is according to The 2016 Institute for Management Development (IMD) World Competitiveness Yearbook (WCY). The minimal upward trajectory in South Africa ‘s competitiveness is however scant consolation for an economy that has seen a decline in Real GDP growth per capita from -0.06 in 2016 to -0.46 in 2016.Economic policy and legal 996
Britain's Serious Fraud Office (SFO) has widened its investigation into Rolls Royce to examine allegations of suspected bribery in Nigeria, the Financial Times reported on Thursday. Rolls Royce, the world's second-largest maker of aircraft engines, said in 2013 the SFO had launched a formal investigation into concerns about possible bribery and corruption in China and Indonesia.Economic policy and legal 1143
The 26thWorld Economic Forum on Africa (WEF Africa) will take place in Kigali, the capital of Rwanda, from 11th–13thMay. The annual gathering, which brings together leaders in business, civil society and government from across Africa and the globe, is an influential platform in shaping the continent’s business and policy landscape. This year’s theme is Connecting Africa’s Resources through Digital Transformation.Economic policy and legal 1444
Finance Minister Pravin Gordhan’s desperate efforts to salvage the economy from its slowing growth are bearing fruit. The International Monetary Fund (IMF) says that a muted South African recovery is envisaged from 2017 and ratings agency Moody’s has given the country a stay of execution on its credit rating.Economic policy and legal 1026
The Morgan Stanley Capital International (MSCI) has said that it will keep Nigeria in its benchmark frontier-market index after saying earlier this month that it might exclude the country because of the government's capital controls.Economic policy and legal 1335