EVENTS:
Uganda releases April inflation statistics
GLOBAL MARKETS
Shares struggled for direction on Wednesday and oil prices slid as relief over a potential easing of global trade tensions was offset by a worsening economic outlook and dour signals from corporates swept up by Donald Trump’s tariffs.
WORLD OIL PRICES
Oil prices extended declines on Wednesday and were set for their largest monthly drop in more than three years as the global trade war eroded the outlook for fuel demand, while fears of mounting supply also weighed.
SOUTH AFRICA MARKETS
The South African rand weakened on Tuesday as investors waited for the finance minister to say when he will present another revised national budget.
KENYA MARKETS
The Kenyan Shilling was steady against the dollar in early trade on Tuesday with traders noting minimal activity on both the demand and supply sides.
KENYA INFLATION
Kenya’s inflation rate in April rose to 4.1% year-on-year, up from 3.6% a month before, the statistics office said on Wednesday.
KENYA DEFICIT
Kenya will cap its fiscal deficit at 4.5% of GDP in 2025/26, down from 5.1% the previous year, and revise its initial budget of 4.3 trillion Kenyan shillings ($33 billion) substantially, its cabinet said on Tuesday.
SOMALIA TAIWAN DIPLOMACY
Somalia has banned entry to Taiwan passport holders citing compliance with a United Nations resolution, the island’s foreign ministry said, blaming Chinese pressure on Mogadishu at a time Taiwan is boosting ties with Somaliland.
MALI POLITICS
A national conference of political actors in Mali has recommended naming junta leader Assimi Goita, who seized power following coups in 2020 and 2021, as president with a five-year mandate, it said in a statement on Tuesday.
CONGO SECURITY
Rwanda escorted the troops of a Southern African force through Rwandan territory to Tanzania on Tuesday as they pulled out from eastern Democratic Republic of Congo, Rwanda’s foreign minister and army spokesperson said.
