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NAIROBI, Aug 5 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

GLOBAL MARKETS

Share markets tumbled and bonds rallied in Asia on Monday as fears the United States could be heading for recession sent investors rushing from risk assets while wagering interest rates will have to fall rapidly to rescue growth.

WORLD OIL PRICES

Oil prices hovered at eight-month lows on Monday as fears of a recession in the United States, the world’s top oil consumer, offset concerns that escalating tensions in the Middle East may affect supplies from the largest producing region.

The South African rand firmed on Friday as U.S. economic data showed a slowdown in jobs growth in July and a rise in the unemployment rate, boosting bets of a September rate cut in the world’s biggest economy and pressuring the dollar.

NIGERIA POLITICS

Nigeria’s President Bola Tinubu called on Sunday for a suspension of protests against a cost of living crisis, saying this would create an opportunity for dialogue, his first public comments since frustrated citizens took to the streets last week.

KENYA MARKETS

Kenya’s shilling slipped on Friday due to dollar demand from the manufacturing sector, traders said, adding that a credit rating review by S&P Global later this month could be a big driver in the weeks ahead.

KENYA RATINGS

Global credit ratings agency Fitch downgraded Kenya’s sovereign rating to “B-” from “B” on Friday, citing heightened risks to the East African country’s public finances after the government backtracked on key revenue measures following protests.

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KENYA ECONOMY

Kenya’s finance minister nominee on Saturday defended the International Monetary Fund’s role in supporting the economy for now, but said the country should become more self-reliant by cutting its budget deficit and shifting to cheaper debt.

ETHIOPIA DEBT

Ethiopia will save $4.9 billion from its debt restructuring exercise, State Finance Minister Eyob Tekalign said on Friday.

((Compiled by Nairobi Newsroom))