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NAIROBI, July 8 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

EVENTS:

*Tanzania’s statistics office releases consumer inflation data for June.

GLOBAL MARKETS

Asian stocks inched higher on Monday as investors grew more confident about a September U.S. rate cut, while the euro grappled with political uncertainty as French elections pointed to a hung parliament.

WORLD OIL PRICES

Oil prices dipped on Monday after rising for four weeks, as the prospect of a ceasefire deal in Gaza eased geopolitical tensions in the Middle East, while investors assessed potential disruption to U.S. energy supplies from Tropical Storm Beryl.

SOUTH AFRICA MARKETS

South Africa’s rand extended its gains against a weaker dollar on Friday, fuelled by expectations that the Federal Reserve will cut interest rates later this year.

KENYA MARKETS

The Kenyan shilling was unchanged in quiet trade on Friday morning, as traders saw anti-government protests easing off.

KENYA BUDGET

Kenyan President William Ruto on Friday proposed spending cuts and additional borrowing in roughly equal measure to fill a nearly $2.7 billion budget hole caused by his withdrawal of planned tax hikes in the face of nationwide protests.

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WEST AFRICA POLITICS

The Economic Community of West African States (ECOWAS) said on Sunday the region risked disintegration and worsening insecurity after junta-led Burkina Faso, Mali and Niger made clear their intentions to leave the bloc by signing a confederation treaty.

RWANDA SOUTH KOREA FUNDING

Rwanda’s Finance Ministry said on Friday that South Korea has awarded it $1 billion in concessionary loans to fund projects in several sectors including transport, healthcare, and education.

ZAMBIA MINING

Vedanta Resources Ltd said on Friday it has arranged the financing it needs to start paying creditors of its Konkola Copper Mines in Zambia as it takes steps to revive operations after regaining control of the assets.

((Compiled by Nairobi Newsroom))