The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
- - - - -
EVENTS:
ETHIOPIA - The Tigray region holds an election, in defiance
of the national government which says the vote is illegal.
GHANA - The statistics office releases the latest consumer
price index data.
GLOBAL MARKETS
Asian shares fell on Wednesday and oil prices hit lows not
seen since June after a rout of technology shares sank Wall
Street for a third consecutive day and a major drugmaker
delayed testing of a coronavirus vaccine.
MKTS/GLOB
WORLD OIL PRICES
Oil futures fell further on Wednesday after big declines the
previous session with Brent sliding below $40 a barrel for
the first time since June as COVID-19 cases rebounded in
several countries.
O/R
EMERGING MARKETS
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AFRICA BITCOIN
Four months ago, Abolaji Odunjo made a fundamental change to
his business selling mobile phones in a bustling street
market in Lagos: He started paying his suppliers in bitcoin.
AFRICA MARKETS
South Africa's rand tumbled more than one percent on Tuesday
after data showed the economy contracted sharply in the
second quarter due to coronavirus restrictions, rattling
already fragile investor sentiment and upping expectations
of reforms.
FIDELITY BANK
Nigeria's Fidelity Bank FIDELIT.LG plans to issue up to 50
billion naira ($131.3 million) in local bonds by the fourth
quarter to refinance existing debt as yields fall, a senior
executive said on Tuesday.
MARKETS
The Kenyan shilling KES= edged down against the dollar on
Tuesday on the back of demand for hard currency, amid a
shortage of offers in the currency market.
SHOPRITE
South Africa's Shoprite Holdings SHPJ.J plans to sell or
close its remaining two stores in Kenya by the end of
December, leaving the East African country two years after
entering it.
FLIGHTS
Zimbabwe will resume domestic flights from Thursday and
international flights next month in a boost to tourism, but
travellers will be required to have COVID-19 clearance
certificates, the government said.
MINING
Zimbabwe's government has banned mining in game reserves
following concerns from conservationists who accused two
Chinese companies of exploring for coal in the biggest
national park, Hwange.
FINANCES
Angola's state auditor said some government-owned companies
were a net drain on the finances of sub-Saharan Africa's
third-biggest economy while oil giant Sonangol failed to
report its results, state news agency Angop reported late
Monday.
LENDING WINDOW
Uganda's central bank has introduced a new lending window
for commercial banks that might encounter short-term
liquidity challenges, it said on Tuesday, unveiling another
tool to complement its main monetary policy instrument.
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