September 24, 2019 / 4:37 AM / a month ago

African Markets - Factors to watch on Sept. 24

    NAIROBI, Sept 24 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.
    - - - - -
 EVENTS:
 *Kenyan lawmakers discuss keeping commercial interest rate
 caps. Last week, a Kenyan parliamentary committee blocked
 the finance ministry's move to scrap a cap on commercial
 lending rates imposed by lawmakers in 2016. Lawmakers are
 due to vote on this, along other measure as part of the
 2019/20 (July-June) fiscal budget.
 
 
 GLOBAL MARKETS
 Global shares ticked up on Tuesday after U.S. Treasury
 Secretary Steven Mnuchin said U.S.-China trade talks will
 resume next month, but lingering concerns about slowing
 global growth tempered the overall appetite for riskier
 assets.                        
 
 WORLD OIL PRICES
 Oil prices eased on Tuesday as weak manufacturing data from
 Europe and Japan focused market attention on the gloomy
 outlook for demand and away from uncertainty around supply
 disruptions in Saudi Arabia.                  
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 KENYA RATES
 Kenya's central bank held its benchmark lending rate at 9.0%
 on Monday, saying inflation was well anchored within the
 government's preferred range and that the economy was
 operating close to its potential.             
 
 
 
 ZAMBIA MINING    
 Canada's First Quantum Minerals Ltd FM.TO on Monday
 confirmed it was in talks with China-based Jiangxi Copper Co
 Ltd 600362.SS for a potential sale of a minority interest in
 its Zambian copper assets.             
 
 
 
 TANZANIA BANKING
 Tanzania's central bank said on Monday it had fined five
 commercial banks over $800,000 for breaching anti-money
 laundering rules, the latest in a series of moves aimed at
 tightening regulation in the financial services sector.
             
 
 
 
 ZIMBABWE WATER
 Zimbabwe's capital shut its main water works on Monday
 citing shortages of foreign currency to import treatment
 chemicals, the deputy mayor said, potentially leaving the
 city dry and raising the risk of water borne diseases like
 cholera.             
 
 
 
 NIGERIA OIL
 Nigeria is claiming "colossal" sums of money from oil
 majors, its attorney general said on Monday, under
 regulations that allow the government to revisit revenue
 sharing from petroleum sales if crude exceeds $20 a barrel.
             
 
 
 
 IVORY COAST COCOA        
 Cocoa harvesting has picked up in Ivory Coast as rains
 continue ahead of the October-to-March main crop, farmers
 said on Monday.             
 
 
 
 
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