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NAIROBI, Nov 29 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

EVENTS:

*Kenya and Uganda’s statistics offices are due to release their respective consumer inflation data for November.

GLOBAL MARKETS

Asian shares slipped on Friday while the yen was aiming for its best week in four months as strong local inflation data had traders favouring an imminent rate hike from the Bank of Japan.

WORLD OIL PRICES

Oil prices were mixed on Friday following a potential renewal of supply risk as Israel and Hezbollah traded accusations of ceasefire violations, and as a delay to an OPEC+ meeting left investors awaiting a decision on its output policy.

SOUTH AFRICA MARKETS

The South African rand strengthened on Thursday, after the release of October producer inflation data and the central bank’s November Financial Stability Review.

AFRICA CURRENCIES

Kenya’s currency is expected to weaken against the dollar in the next week to Thursday, while Ghana’s and Uganda’s could strengthen, and Nigeria’s and Zambia’s may be broadly stable, traders said.

KENYA MARKETS

The Kenyan shilling weakened slightly on Thursday, with traders attributing the depreciation to rising demand for the dollar from manufacturers and oil retailing companies.

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The Communications Regulatory Authority of Namibia said on Thursday it has issued a cease-and-desist order to Elon Musk’s satellite internet provider Starlink for operating in the country without a license.

SOMALIA POLITICS

The government of Somalia’s semi-autonomous Jubbaland state said on Thursday it was suspending relations and cooperation with the federal government in Mogadishu following a dispute over local elections in the region.

MADAGASCAR MINING

Madagascar’s Ambatovy nickel project companies expect to complete its debt restructuring in early December, the project’s major shareholder Sumitomo Corp 8053.T said on Thursday, adding that it was still considering all options for Ambatovy.

ZIMBABWE ECONOMY

Zimbabwe’s economic growth is expected to rebound to 6% in 2025 from 2% this year, helped by improved agricultural output and power generation, Finance Minister Mthuli Ncube said on Thursday.

((Compiled by Nairobi Newsroom))

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