The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
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GLOBAL MARKETS
Asian shares scaled a record high on Friday on the growing
prospect of a large U.S. economic package, while hopes that
vaccine rollouts will boost the global economy underpinned
investor sentiment.
MKTS/GLOB
WORLD OIL PRICES
Oil prices rose on Friday, heading for a fifth week of
gains, after major producers agreed to continue to restrain
production to cope with coronavirus-hit demand but the
compromise fell short of expectations.
O/R
EMERGING MARKETS
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AFRICA CURRENCIES
Kenya's and Uganda's currencies are expected to remain
stable in the coming week. Zambia's is expected to be under
pressure versus the U.S. dollar.
AFRICA MARKETS
South Africa's rand gained on Thursday, boosted by optimism
about COVID-19 vaccines that have whetted risk appetite
among global investors hungry for yield.
MARKETS
Nigeria's central bank has introduced special bills to
manage excess liquidity on the money market awash with naira
after foreign investors dumped local assets as a result of
the pandemic-induced oil price crash.
BANKS
Nigerian banks will on Friday commence dollar payout for
diaspora inflows and close naira remittance accounts after
the regulator eased money transfer rules to try to boost
forex liquidity in the country, the central bank said on
Thursday.
MARKETS
Kenya's shilling KES= weakened against the dollar on
Thursday, prompting the central bank to pump in dollars and
stabilise it, traders said, adding a row over the emergence
of dual exchange rates had been resolved.
IMF FACILITY
International Monetary Fund staff and Kenyan authorities are
continuing talks on remaining provisions of an IMF financing
program for Kenya that could be presented to the IMF board
in early 2021, Fund spokesman Gerry Rice said on Thursday.
FX
Stanbic Bank Kenya SBIC.NR , a unit of South Africa's
Standard Bank SBKJ.J , has distanced itself from a research
note issued by its parent that said a parallel exchange rate
was emerging in Kenya, where the coranavirus crisis has hit
dollar earnings.
PMI
Kenyan private sector activity rose modestly in November as
new orders edged up, after a big rebound in October
following government restrictions imposed the previous month
to fight COVID-19, a survey showed on Thursday.
ELECTION
Ghana holds a presidential election on Dec. 7 in what is
expected to be a two-horse race between the incumbent,
President Nana Akufo-Addo, and the leader of the main
opposition party, former president John Mahama.
COAST COCOA
Cocoa farmers in Ivory Coast said on Thursday they would
withdraw from chocolate industry sustainability programs if
companies try to avoid paying a premium aimed at combating
farmer poverty.
CONFLICT
Relief agencies in Ethiopia prepared convoys on Thursday to
truck aid into Tigray region, where a month of war is feared
to have killed thousands of people and has forced refugees
to flee along corpse-strewn roads.
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