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

EVENTS:

The IMF’s board will consider the seventh and eighth reviews of Kenya’s lending program.

Zimbabwe finance minister Mthuli Ncube will address the media on the sidelines of an EU-Zimbabwe Financing Deal signing ceremony.

Namibia’s Finance Minister Iipumbu Shiimi is expected to table the southern African country’s mid-year budget review in the National Assembly.

GLOBAL MARKETS

Asia shares eased on Wednesday on the back of weakness in China, as investors brace for a tightly contested U.S. election that could have huge ramifications for the world’s second-largest economy, even as Beijing tries to shore up growth.

WORLD OIL PRICES

Oil prices stabilised on Wednesday on industry data showing a surprise drop in U.S. crude and gasoline inventories, following two previous sessions of losses on the prospect of hostilities easing in the Middle East.

SOUTH AFRICA MARKETS

South Africa’s rand was little changed on Tuesday, as investors held off from placing big moves ahead of mid-term budget announcement this week.

KENYA MARKETS

The Kenyan shilling was steady against the dollar on Tuesday as companies exchanged hard currency to make end of month payments, one trader said.

BOTSWANA ELECTION

Botswana votes on Wednesday in an election that will determine whether President Mokgweetsi Masisi secures a second term, with economic woes caused by declining diamond demand in focus.

KENYA FINANCE

Kenya’s Supreme Court on Tuesday quashed a decision by an appeals court nullifying the 2023 finance law, a victory for the government after protests forced President William Ruto to withdraw this year’s finance bill.

NIGERIA CENBANK

Nigeria’s central bank is prepared to use any “tools at our disposal” to manage inflation, its head Olayemi Cardoso said on Tuesday.

((Compiled by Nairobi Newsroom))