NAIROBI, July 30 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

GLOBAL MARKETS

Oil traded near seven-week lows on Tuesday as a softening demand outlook weighed on commodities, while bond, currency and stock markets traded cautiously ahead of central bank meetings in the U.S. and Japan and a slew of major corporate earnings reports.

WORLD OIL PRICES

Oil prices fell on Tuesday, extending losses from the previous session, amid concerns about demand in China, the world’s largest crude importer, while the market shrugged off the risk of conflict escalating in the Middle East.

SOUTH AFRICA MARKETS

South Africa’s rand slipped against a stronger dollar on Monday as markets looked towards a U.S. policy decision later this week, while concerns grew over a possible escalation in conflict in the Middle East.

NIGERIA PETROLEUM

Nigeria’s government gave approval on Monday for state oil company NNPC Ltd to sell crude in the naira currency to the mega Dangote refinery effective immediately to help ease foreign exchange pressure.

KENYA MARKETS

The Kenyan shilling slightly strengthened early on Monday, and traders anticipate further gains backed by expected dollar inflows from tea exports.

KENYA EAST AFRICAN BREWERIES RESULTS

Kenya’s East African Breweries said on Tuesday its pretax profit dropped to 16.77 billion Kenyan shillings ($129.0 million) in its full year to end-June, down from 18.71 billion shillings in the previous year.

KENYA CENTUM INVESTMENTS RESULTS

Kenya’s Centum Investments Company said on Tuesday it swung into a pretax profit of 2.91 billion shillings ($22.38 million)in its full year to March-end from a loss of 6.25 billion shillings in the same period a year earlier.

ETHIOPIAN AIRLINES RESULTS

Ethiopian Airlines posted revenue of $7 billion for its 2023/24 financial year, up from $6.1 billion a year earlier, helped by higher passenger numbers, state-owned Ethiopian Broadcasting Corporation (EBC) reported on Monday.

ETHIOPIA CURRENCY

Ethiopia’s central bank floated the birr currency on Monday, a move it hopes will secure International Monetary Fund (IMF) support and enable progress on a long-delayed debt restructuring.

ETHIOPIA IMF

Ethiopia has secured an agreement with the International Monetary Fund for a new financing program worth $3.4 billion, the IMF said on Monday.

MOZAMBIQUE BOND

Mozambique has substantially won its $3.1-billion lawsuit at London’s High Court against Emirati-Lebanese shipbuilder Privinvest for allegedly paying bribes in relation to the decade-old “tuna bond” scandal.

IVORY COAST COCOA

Cocoa arrivals at ports in top grower Ivory Coast had reached 1.655 million metric tons by July 28 since the start of the season on Oct. 1, down 27.1% from the same period last season, exporters estimated on Monday.

((Compiled by Nairobi Newsroom))