April 9 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

EVENTS:

Kenya’s central bank governor holds a news conference a day after announcing the latest lending rate decision.

The African Development Bank will host a press conference on its upcoming annual meeting in the last week of May.

GLOBAL MARKETS

Stocks in Asia extended a slide on Wall Street on Wednesday as President Donald Trump looked set to press ahead with whopping 104% tariffs on Chinese goods, pummelling oil prices to four-year lows as global recession fears gripped financial markets.

WORLD OIL PRICES

Oil prices dropped to their lowest in more than four years in early trade on Wednesday on looming demand concerns fuelled by an escalating tariff war between the U.S. and China, the world’s two biggest economies, and a rising supply outlook.

SOUTH AFRICA MARKETS

South Africa’s rand strengthened on Tuesday as the country’s two biggest political parties said they were not walking away from the coalition government and were open to further talks to try to resolve a bitter dispute over the budget.

KENYA MARKETS

Kenya’s shilling strengthened slightly against the dollar on Tuesday, data from the London Stock Exchange Group showed.

US AID

President Donald Trump’s administration on Tuesday moved to reinstate at least six recently canceled U.S. foreign aid programs for emergency food assistance, six sources familiar with the matter told Reuters.

KENYA RATES

Kenya’s central bank cut its policy rate on Tuesday for the fifth meeting in a row, a surprise move aimed at further stimulating private sector lending.

CONGO JUSTICE

Three American citizens jailed over a failed coup attempt in Democratic Republic of Congo were handed over to U.S. custody on Tuesday, officials said, following high-level talks between the two countries on security and mining deals, the Congolese presidency told Reuters on Tuesday.

ETHIOPIA POLITICS

Ethiopia’s Prime Minister Abiy Ahmed on Tuesday appointed Tadesse Worede to lead the interim administration in the northern Tigray region, where divisions in the ruling party have sparked fears of a renewed war between Ethiopia and Eritrea.

((Compiled by Nairobi Newsroom))