NAIROBI, Aug 2 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS

Asian shares and U.S. Treasury yields slid while the Swiss franc and yen rose on safety bids on Friday after weaker-than-expected U.S. factory data sparked fears of a worsening economic outlook.

WORLD OIL PRICES

Oil prices rose on Friday but were set for a fourth successive weekly decline, as signs of disappointing global fuel demand growth outweighed fears of supply disruptions.

SOUTH AFRICA MARKETS

South Africa’s rand firmed on Thursday as investors bet on a September interest rate cut in the world’s biggest economy after dovish comments by the U.S. Federal Reserve on Wednesday.

AFRICA CURRENCIES

Kenya’s shilling is expected to be stable in the next week to Thursday, while Ghana’s cedi and Uganda’s shilling could weaken and Zambia’s kwacha could gain, traders said.

NIGERIA ELECTRICITY

African Development Bank has approved a loan of $500 million for Nigeria to boost its electricity sector, the bank said on Thursday.

NIGERIA POLITICS

At least three protesters were killed in Nigeria’s Kaduna state on Thursday, Reuters reporters and eyewitnesses said, as demonstrators rallied across the West African nation against rising cost of living and governance issues.

KENYA MARKETS

The Kenyan shilling dipped against the US dollar on Thursday, according to data from the London Stock Exchange Group (LSEG).

TANZANIA RAILWAY

Tanzania on Thursday launched a 541-km modern standard gauge railway running between its administrative and commercial capitals, built by a Turkish firm as part of a government drive to improve transport infrastructure.

ETHIOPIA ECONOMY

At least two Ethiopian local governments have ordered the closure of dozens of businesses found hiking prices of basic commodities after the central bank floated the national currency, officials said on Thursday.

TOGO POLITICS

Togo’s President Faure Gnassingbe has retained Victoire Sidemeho Tomegah-Dogbe as prime minister and a government will be formed in the coming days in line with a new constitution, the presidency said on Thursday.

ZAMBIA ELECTRICITY

Zambia’s state-owned power utility ZESCO has agreed to buy 218 megawatts (MW) of electricity from South Africa and Zimbabwe to cushion a shortfall caused by reduced hydropower capacity, its energy minister said on Thursday.

BOTSWANA DIAMONDS

Sales of rough diamonds at Debswana Diamond Company fell 49.2% in the first half of 2024, according to data released by the Botswana central bank late on Wednesday, as the downturn in the global diamond market continued.

((Compiled by Nairobi Newsroom))