African Markets - Factors to watch on Nov 26

Nov 26 (Reuters) - 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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EVENTS

* Power distributor Kenya Power and Lighting Company (KPLC.NR) launches its rights issue. KPLC said last week it was aiming to raise 9.5 billion shillings ($119 million) from the issue.

* Bank of Mauritius auctions Treasury bills of various maturities.

* KENYA - South African Deputy President Kgalema Motlanthe on final day of official visit to Kenya. He will attend a Kenya- South Africa business symposium, sign a double taxation agreement between Kenya and South Africa, and a memorandum of understanding on cooperation in agriculture.

GLOBAL MARKETS

The U.S. dollar steadied on Friday, as traders girded for a break above tough chart obstacles on Europe's fiscal problems, while the looming year end kept many equity investors eager to take profits, weighing on Asian stock markets. [ID:nL3E6MQ05I]

SOUTH AFRICA MARKETS

South Africa's rand gained ground against the dollar in a quiet Thursday session due to a holiday in the U.S., tracking moves on the euro. [ID:nLDE6AO1QR]

AFRICAN MARKETS

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AFRICA CURRENCIES

Lower copper prices look set to keep the Zambian kwacha on the defensive next week and Kenya's shilling may also be under pressure if the central bank keeps buying foreign exchange and on worries about eurozone debt crisis. [ID:nLDE6AO169]

NIGERIA PETROLEUM

Nigeria will stop subsidising marketers who buy gasoline from Noble Group (NOBG.SI), according to a document seen by Reuters, in a move likely to prevent the trader from dealing in the country's $6 billion fuel market. [ID:nLDE6AI1UR]

Also, Royal Dutch Shell Plc (RDSa.L) said on Thursday it was restoring production of Nigerian crude oil after repairing a pipeline damaged by oil theft in Africa's top exporter last week. [ID:nLDE6AO1AE]

And Petrofac (PFC.L) has spent $100 million on a 15 percent stake in Nigerian oil explorer Seven Energy, fulfilling the British oil and gas company's long-term ambitions to enter sub-Saharan Africa's second-biggest economy. [ID:nLDE6AO17I]

NIGERIA WAGES

Nigerian President Goodluck Jonathan will send a bill to parliament more than doubling the minimum wage, meeting union demands after a nationwide strike this month, a senior advisory council said on Thursday. [ID:nLDE6AO0LI]

KENYA MARKETS

The Nairobi Stock Exchange's main NSE-20 Share Index .NSE20 closed down 20.51 points at 4,528.26 on Thursday, while the All Share Index .NASI closed 0.54 points lower at 99.63.

The shilling KES= closed at 80.35/45 to the dollar, against 80.25/35 on Wednesday. [ID:nLDE6AO0HM]

KENYA RATES

Kenya's central bank left its key lending rate unchanged as expected on Thursday, citing growing confidence in the economy, and analysts said the easing cycle in east Africa's biggest economy may now be over. [ID:nLDE6AO18E]

Also, the weighted average yield on Kenya's 182-day Treasury bills rose to 2.464 percent at auction on Thursday from 2.256 percent at the previous sale after total bids came in at less than half the offered amount. [ID:nLDE6AO1M4]

KENYA NIC BANK

Kenya's NIC Bank (NIC.NR) posted a 69 percent jump in nine-month pretax profit to 2.0 billion shillings ($25 million), helped by growth in its loan book and falling cost of funds. [ID:nLDE6AN22M]

TANZANIA ECONOMY

Tanzania's overall balance of payments swung to a deficit of $25.7 million in the year to September from a surplus of $619.8 million a year ago, the central bank said in its latest monthly economic review. [ID:nLDE6AO0PA]

UGANDA BOND

Standard Chartered Bank Uganda plans to issue a 40 billion shilling ($17.5 million) bond which will be listed on the Uganda Stock Exchange (USE), the bank said in a statement on Thursday. [ID:nLDE6AO1FZ]

GHANA MARKETS

The Ghana All-Share index .GSEGH fell 84.7 points or 1.2 percent to 6,936.67 points, dragged down by heavyweight Ecobank Transnational Incorporated (ETI.GH), down 6.7 percent on 9,500 shares traded. Traded volumes were 505,190 shares, valued at 698,638.42 cedis.

GHANA OIL PRODUCTION

Ghana announced on Thursday it expected the first oil from its Jubilee offshore field to be pumped on Dec. 17, in line with earlier forecasts that it would take its place as a major oil producer by year-end.[ID:nN25285194]

BURKINA FASO ELECTION

Burkina Faso's leader Blaise Compaore won a presidential poll in his West African state with 80.21 percent of the vote on Thursday, although his landslide victory faced an early legal challenge. [ID:nLDE6AO206]

ZIMBABWE ECONOMY

Zimbabwe expects its economy to grow nearly 10 percent next year as the key mining and agriculture sectors expand, and will rely largely on domestic revenue to fund its budget as donors hold back aid.

Finance Minister Tendai Biti presented Zimbabwe's 2011 budget against the backdrop of scant aid flows, with donors withholding funds crucial to boost an economy emerging from a decade of contraction mainly over Mugabe's seizure of white-owned farms for blacks. [ID:nNLDE6AO1C]

ZIMBABWE MINING

Zimbabwe will increase royalties on diamond sales to 15 percent from the current 10 percent, Finance Minister Tendai Biti said on Thursday. [ID:nWEA1781]

The country produced 2.7 million carats of diamond this year and conducted three diamond sales, Biti said. [ID:nWEA1745]

ZIMBABWE ELECTRICITY

Zimbabwe will spend $135 million to raise its power generation capacity to 1,650 MW in 2011 from current supply of around 1,000 MW, Finance Minister Tendai Biti said on Thursday. [ID:nWEA1766]

ZAMBIA MINING

Zambia, Africa's largest copper producer, has reached a deal with foreign mining companies whose long-term agreements the government had cancelled in 2008 to introduce higher taxes, the finance minister said on Thursday. [ID:nLDE6AO1PV]

ZAMBIA INFLATION

Zambia's annual inflation slowed to 7.1 percent in November due to easing food prices, putting it on course to end 2010 well below the central bank's year-end target of 8 percent, data showed on Thursday. [ID:nLDE6AO0UJ]

TULLOW OIL CONGO

London-listed Tullow Oil Plc (TLW.L) lost an injunction to stop two offshore companies developing oil blocks to which it lost the rights in Democratic Republic of Congo, according to a court ruling seen by Reuters. [ID:nLDE6AO1RZ]

TOTAL GABON EXPLORATION

Total (TOTF.PA) has revived large-scale oil exploration in Gabon with the acquisition of interests in three onshore exploration licences, the group said on Thursday.

COMMODITIES

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