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The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
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EVENTS:
UGANDA - The central bank sets its benchmark lending rate at
about 0900 GMT. The bank cut its main lending rate to 8%
from 9% during its last rate-setting meeting in April.
GLOBAL MARKETS
Global share prices edged higher on Monday after a surprise
recovery in U.S. employment provided cause for optimism that
global economies could quickly revive after many weeks of
lockdowns aimed at controlling the coronavirus pandemic.
MKTS/GLOB
WORLD OIL PRICES
Oil crept higher on Monday, but gave up big early gains as
optimism over major crude producers' deal to extend record
output cuts gave way to disappointment that the accord
didn't extend beyond the end of July.
O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand raced to an 11-week high against the
U.S. dollar Friday, supported by a risk rally as an
unexpected fall in the U.S. unemployment rate brought back
hopes of a swift economic recovery.
BUDGET
Nigeria is proposing slashing its basic healthcare funding
by almost half as government finances in Africa's biggest
economy take a hit from the novel coronavirus pandemic and
low oil prices, according to the latest budget proposal
documents.
MARKETS
The Kenyan shilling KES= was unchanged on Friday due to
muted dollar demand from merchandise and oil importers,
traders said.
BONDS
Kenya will sell a five-year and a 10-year Treasury bond to
raise a total of 40 billion shillings ($377 million) this
month, the central bank said on Friday.
BUDGET
Zambia's attempt to force Copperbelt Energy Corp (CEC)
CECZ.LZ to open up its infrastructure to other power
producers has dented the country's image as an investment
destination, the Chamber of Mines said on Friday.
GRAIN DEFICIT
Zimbabwe's grain deficit is expected to widen to 1.17
million tonnes this year despite a small increase in
production, the latest official crop report showed on
Saturday, leaving the majority of the population facing food
shortages.
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