African Markets – Factors to watch on March 20

This post was originally published here

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
    - - - - - -
 GLOBAL MARKETS
 Asian stocks were mixed on Monday in thin trade, following
 Wall Street's declines and the G20's decision to drop a
 pledge to avoid trade protectionism, while the Federal
 Reserve's less hawkish-than-expected comments continued to
 drag the dollar lower.
            
 
 WORLD OIL PRICES
 Oil prices fell on Monday as rising U.S. drilling activity
 and steady supplies from OPEC countries despite touted
 production cuts pressured already-bloated markets.    
      
 
 EMERGING MARKETS
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 AFRICA STOCKS
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 SOUTH AFRICA MARKETS
 South Africa's rand firmed to a near 19-month high on Friday
 over dovish comments by the U.S. Federal Reserve, which gave
 impetus to emerging market currencies against the retreating
 greenback.
             
 
 NIGERIA MARKETS
 Nigeria's overnight lending rate eased to 12 percent on
 Friday compared with 15 percent at the start of the week, as
 commercial lenders anticipated fresh inflows from state
 bodies.
                     
 
 NIGERIA RATES
 Nigeria's central bank will leave its benchmark interest
 rate unchanged on Tuesday to try and curtail high inflation
 as Africa's top economy grapples with its first recession in
 25 years, a Reuters poll found on Friday.
             
 
 NIGERIA POLICY
 Nigeria's monetary and fiscal authorities must cooperate on
 their policies to help Africa's largest economy to develop,
 the central bank governor said, according to his spokesman.
             
 
 KENYA MARKETS
 The Kenyan shilling KES= was seen to be under pressure from
 the dollar on Friday due to oil importers buying dollars,
 traders said.
             
 
 KENYA CENTRAL BANKER
 The governor of Kenya's central bank Patrick Njoroge should
 be investigated in connection with a multi-million-dollar
 scam at a youth employment programme, a parliamentary
 committee said.
             
 
 GHANA MARKETS
 The Bank of Ghana said the yield on its weekly 91-day bill
 rose to 17.2108 percent at an auction on Friday, from
 16.4392 percent at the last sale, on March 10.
             
 
 ZIMBABWE BOND NOTES
 Zimbabwe's central bank has printed half of the 'bond notes'
 quasi-currency it intends to issue under a $200 million
 scheme, a state newspaper reported on Friday, as the country
 grapples with a biting shortage of U.S. dollars.
             
 
 
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