
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 8 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s Johannesburg Stock Exchange will release data on foreigners&#8217; buying and selling of bonds and stocks during the previous week.</p>



<p>South Africa&#8217;s government will hold its weekly auction for Treasury bills.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;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.</p>



<p>On the stock market, the Top-40 index closed 0.35% higher. South Africa&#8217;s benchmark 2030 government bond was stronger, as the yield fell 2.5 basis points to 9.76%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street stock indexes closed firmer on Friday, with the tech-heavy Nasdaq and benchmark S&amp;P 500 hitting record highs, as new data showing U.S. labour market weakness boosted expectations for interest rate cuts as early as September.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices slipped on Monday, as investors booked profits after bullion hit a more than one-month high in the previous session on rising bets of U.S. interest rate cuts in September.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; SA faces tough times ahead amid global economic uncertainties</p>



<p>(Compiled by Tannur Anders)</p>


istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on July 8


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 8 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Tanzania&#8217;s statistics office releases consumer inflation data for June.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;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.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



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



<h2 class="wp-block-heading" id="h-kenya-budget">KENYA BUDGET</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-west-africa-politics">WEST AFRICA POLITICS</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-rwanda-south-korea-funding">RWANDA SOUTH KOREA FUNDING</h2>



<p>Rwanda&#8217;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.</p>



<h2 class="wp-block-heading" id="h-zambia-mining">ZAMBIA MINING</h2>



<p>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.</p>



<p>((Compiled by Nairobi Newsroom))</p>


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on July 8


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 5 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa June reserves data</p>



<p>Inflation-linked bond auction</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand extended its gains against the dollar on Thursday after the U.S. currency slipped on rising expectations that U.S. interest rate cuts are on the way.</p>



<p>On the stock market, the Top-40 index closed more than 0.4% higher.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian share markets scaled new highs on Friday as investors sized up U.S. rate cuts for September and the mood was upbeat, while the euro hit a three-week peak ahead of French elections.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 index and technology-laden Nasdaq rose on Wednesday to post record high closes, as data pointing to a softening economy raised hopes the Federal Reserve could cut interest rates in September.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices firmed on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve&#8217;s potential interest rate cuts.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Bank of America says GDP to grow 2% if Eskom maintains momentum</p>



<p>&#8211; Former Tongaat CFO denies responsibility for accounting fraud</p>



<p>(Compiled by Bhargav Acharya)</p>


South African Markets – Factors to watch on July 5


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>July 5 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Kenya&#8217;s President William Ruto and his ministers are due to hold discussions on social media platform X, targeting youth after anti-government protests.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian share markets scaled new highs on Friday as investors sized up U.S. rate cuts for September and the mood was upbeat, while the euro hit a three-week peak ahead of French elections.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices were little changed in Asian trade on Friday but were on track for a fourth straight week of gains and holding near their highest levels since late April on hopes of strong summer fuel demand and some supply concerns.</p>



<h2 class="wp-block-heading" id="h-africa-markets">AFRICA MARKETS</h2>



<p>The Kenyan, Ghanaian, Ugandan and Zambian currencies are forecast to be broadly steady against the dollar in the next week to Thursday, while Nigeria&#8217;s naira is expected to weaken, traders said.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand extended its gains against the dollar on Thursday after the U.S. currency slipped on rising expectations that U.S. interest rate cuts are on the way.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was flat in a quiet session on Thursday, as traders said they thought the worst anti-government protests were probably over.</p>



<h2 class="wp-block-heading" id="h-nigeria-economy">NIGERIA ECONOMY</h2>



<p>Nigerian President Bola Tinubu has asked his economic management team to prepare a 2 trillion naira ($1.33 billion) stimulus plan to address concerns about food supplies and pricing and bolster key sectors, the finance minister said on Thursday.</p>



<h2 class="wp-block-heading" id="h-sudan-politics">SUDAN POLITICS</h2>



<p>More than 136,000 people have fled Sudan&#8217;s southeastern Sennar state since the paramilitary Rapid Support Forces began a series of attacks on towns, the United Nations said on Thursday, the latest wave of displacement caused by Sudan&#8217;s almost 15-month long war.</p>



<h2 class="wp-block-heading" id="h-ghana-politics">GHANA POLITICS</h2>



<p>Ghana&#8217;s Vice-President Mahamudu Bawumia of the country&#8217;s ruling New Patriotic Party (NPP) has picked the current energy minister as his running mate for December&#8217;s presidential election.</p>



<h2 class="wp-block-heading" id="h-nigeria-debt">NIGERIA DEBT</h2>



<p>Nigeria&#8217;s debt to gasoline suppliers has surpassed $6 billion &#8211; doubling since early April &#8211; as state oil firm NNPC struggles to cover the gap between fixed pump prices and international fuel costs, six industry sources said.</p>



<h2 class="wp-block-heading" id="h-ethiopia-debt">ETHIOPIA DEBT</h2>



<p>Ethiopia will receive $10.5 billion in support over the coming years if long-running negotiations with the International Monetary Fund and World Bank are successful, Prime Minister Abiy Ahmed said on Thursday.</p>



<h2 class="wp-block-heading" id="h-tanzania-rates">TANZANIA RATES</h2>



<p>Tanzania&#8217;s central bank left its key interest rate unchanged at 6%, it said on Thursday, adding that inflation expectations were well below target, the economy was growing strongly and exchange rate pressures were expected to ease.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 5


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 4 (Reuters)&nbsp;&#8211;&nbsp;The following equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South African assets gained on Wednesday, lifted by optimism over comments by the Federal Reserve chair that reinforced expectations that U.S. interest rate cuts were not far off.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asia stocks hit 27-month highs on Thursday as softer U.S. data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 index and technology-laden Nasdaq rose on Wednesday to post record high closes, as data pointing to a softening economy raised hopes the Federal Reserve could cut interest rates in September.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices eased on Thursday but hovered near a two-week high hit in the previous session after softer-than-expected U.S. economic data fuelled hopes that the Federal Reserve could cut interest rates as soon as September.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Bidvest to end 26-year bank journey</p>



<p>&#8211; Leon Schreiber extends temporary concession for foreign nationals</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Global giants are ditching SA&#8217;s massive gas find amid frustration with govt, insiders say</p>



<p>(Compiled by Bhargav Acharya)</p>


South African Markets – Factors to watch on July 4


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>July 4 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Ethiopia&#8217;s Prime Minister Abiy Ahmed to appear in parliament to answer wide-ranging questions from lawmakers.</p>



<p>Tanzania&#8217;s central bank announces its latest lending rate decision.</p>



<p>After Kenya&#8217;s President William Ruto withdrew the contentious finance bill of 2024, anti-government protesters vowed to keep demonstrating as their demands spread to include a call for his resignation.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asia stocks hit 27-month highs on Thursday as softer U.S. data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices fell in Asia on Thursday, with investors turning cautious on expectations of lower demand as U.S. employment and business data came in weaker than forecast, signalling the economy of the world&#8217;s top oil consumer may be cooling.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South African assets gained on Wednesday, lifted by optimism over comments by the Federal Reserve chair that reinforced expectations that U.S. interest rate cuts were not far off.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling shrugged off uncertainty caused by nationwide anti-government protests and firmed slightly on Wednesday, bolstered by hard currency inflows from tea exporters and diaspora remittances, traders said.</p>



<h2 class="wp-block-heading" id="h-niger-security">NIGER SECURITY</h2>



<p>Niger&#8217;s junta has agreed to talks with Benin&#8217;s government, led by two former Benin presidents, to help restore relations after a coup in Niger last year led to the border closing and a China-backed oil pipeline shutting down.</p>



<h2 class="wp-block-heading" id="h-congo-imf">CONGO IMF</h2>



<p>The International Monetary Fund said on Wednesday its executive board had concluded a sixth and last review of Congo&#8217;s loan program, allowing for an immediate disbursement of about $224.7 million.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 4


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 3 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-economic-event">ECONOMIC EVENT</h2>



<p>S&amp;P Global Whole Econ PMI for June</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand extended losses on Tuesday after a turbulent start to the week as markets waited to see how the new government of national unity (GNU) would approach economic reform following the formation of the cabinet.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed down 0.3%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks rose on Wednesday as comments from Federal Reserve Chair Jerome Powell reinforced expectations that U.S. rate cuts were not far off, while the yen struggled at levels last seen in 1986, keeping traders wary of Japanese intervention.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main stock indexes closed higher on Tuesday, boosted by gains in Tesla and megacap growth stocks, but volumes were thin ahead of the July Fourth holiday and the closely watched release of June nonfarm payrolls on Friday.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices were flat on Wednesday as investors awaited minutes of the Federal Reserve&#8217;s last policy meeting for fresh cues on when the U.S. central bank will start cutting interest rates.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Sibanye carves away over 11,000 jobs in 18 months</p>



<p>&#8211; Sasol warns of uncertain future for piped-gas market</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Discovery ordered to withdraw &#8216;misleading&#8217; gap cover ad</p>



<p>(Compiled by Bhargav Acharya)</p>


South African Markets – Factors to watch on July 3


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Release of the Stanbic Bank Kenya Purchasing Managers&#8217; Index survey for June.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks rose on Wednesday as comments from Fed Chair Jerome Powell reinforced expectations that U.S. rate cuts were not far off, while the yen remained pinned near levels last seen in 1986, keeping traders wary of Japanese intervention.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rose on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stockpiles, while the market kept tabs on flaring tensions in the Middle East.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand extended losses on Tuesday after a turbulent start to the week as markets waited to see how the new government of national unity (GNU) would approach economic reform following the formation of the cabinet.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was steady on Tuesday, with ample hard-currency supply preventing a sell-off over anti-government protests that prompted the president to abandon planned tax hikes last week, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>Riot police fired tear gas grenades and charged at stone-throwing protesters in downtown Nairobi and across Kenya on Tuesday in the most widespread unrest since at least two dozen protesters died in clashes a week ago.</p>



<h2 class="wp-block-heading" id="h-burkina-faso-security">BURKINA FASO SECURITY</h2>



<p>Arouna Loure, a vocal critic of Burkina Faso&#8217;s ruling military junta, received a conscription order on Sept. 7 last year requesting that the anaesthesiologist start a month of military service four days later.</p>



<h2 class="wp-block-heading" id="h-mali-security">MALI SECURITY</h2>



<p>Unidentified armed men have killed around 40 people in an attack on a village in insurgent-plagued central Mali, local officials said on Tuesday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 3


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 2 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s government will hold its weekly auction of long-term bonds.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South African assets gave up some gains on Monday as the initial optimism shown by the markets waned a day after President Cyril Ramaphosa formed a new cabinet.</p>



<p>On the Johannesburg Stock Exchange, the Top-40 index closed around 0.2% weaker. The country&#8217;s benchmark 2030 government bond rose, with the yield down 3 basis points at 9.955%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>The U.S. dollar hovered near an almost 38-year high to the yen on Tuesday following a surge in Treasury yields as investors contemplated the potential for a second Donald Trump presidency.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Megacap growth stocks led by Apple and Tesla lifted the tech-heavy Nasdaq to a higher close on Monday, while the Dow and the S&amp;P 500 also eked out slight gains in light pre-holiday trading.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices slipped on Tuesday as the U.S. dollar held firm, while investors awaited comments from Federal Reserve Chair Jerome Powell as well as the country&#8217;s jobs data for further clues about the interest rate outlook.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Election outcome a boon for JSE and bonds</p>



<p>&#8211; Work visas high on new home affairs minister’s agenda</p>



<p>(Compiled by Tannur Anders)</p>


South African Markets – Factors to watch on July 2


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 2 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Protesters in Kenya have said they will embark on another week of anti-government activism including strikes and demonstrations, that last week forced President William Ruto to abandon deeply unpopular tax hikes.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>The U.S. dollar hovered near an almost 38-year high to the yen on Tuesday following a surge in Treasury yields as investors contemplated the potential for a second Donald Trump presidency.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices were little changed on Tuesday, holding near the two-month highs reached in the previous session, on expectations for rising fuel demand from the summer travel season and possible U.S. interest rate cuts that could boost economic growth.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South African assets gave up some gains on Monday as the initial optimism shown by the markets waned a day after President Cyril Ramaphosa formed a new cabinet.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling held steady against the dollar on Monday, but was under pressure as importers and manufacturers sought hard currency, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>Kenyan activists called for protesters to take to the streets again on Tuesday, with many rejecting appeals from President William Ruto for dialogue following his decision to withdraw proposed tax hikes.</p>



<h2 class="wp-block-heading" id="h-somalia-ethiopia-security">SOMALIA-ETHIOPIA SECURITY</h2>



<p>Turkey has begun mediating talks between Somalia and Ethiopia over a port deal Addis Ababa signed with the breakaway region of Somaliland earlier this year, Ankara and four officials familiar with the matter said.</p>



<h2 class="wp-block-heading" id="h-ghana-debt">GHANA DEBT</h2>



<p>The International Monetary Fund said on Monday it had revised up Ghana&#8217;s growth forecast for 2024 to reflect the West African nation&#8217;s improved economic stability.</p>



<h2 class="wp-block-heading" id="h-congo-aid">CONGO AID</h2>



<p>Two employees of Britain-based aid agency Tearfund have been killed in an attack on their convoy in eastern Democratic Republic of Congo, the charity said on Monday.</p>



<h2 class="wp-block-heading" id="h-congo-mining">CONGO MINING</h2>



<p>Democratic Republic of Congo&#8217;s state miner Gecamines said on Monday it would not approve the sale of cobalt miner Chemaf SA and its Congolese assets to Chinese miner Norin Mining.</p>



<h2 class="wp-block-heading" id="h-nigeria-oil">NIGERIA OIL</h2>



<p>Nigeria&#8217;s new Dangote oil refinery is increasing gasoil exports to West Africa, taking market share from European refiners, according to traders and shipping data.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 2


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 1 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks were subdued on Monday as traders pondered the U.S rates outlook, while the euro rose after the first-round voting in France&#8217;s shock snap election was won by the far-right, albeit with a smaller share than some polls had projected.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices edged up in early trade on Monday, supported by forecasts of a supply deficit stemming from peak summer fuel consumption and OPEC+ cuts in the third quarter, although global economic headwinds and rising non-OPEC+ output capped gains.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand rallied on Friday on optimism that the Democratic Alliance (DA) and African National Congress (ANC) would reach an agreement over cabinet positions, a day after local media reported a major disagreement between the parties.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling eased slightly on Friday as markets awaited the outcome of protests against a now-shelved tax increase plan.</p>



<h2 class="wp-block-heading" id="h-nigeria-security">NIGERIA SECURITY</h2>



<p>At least 18 people were killed and 30 others injured after a series of attacks by suspected female suicide bombers in Nigeria&#8217;s northeastern Borno state on Saturday, the head of the local state emergency management agency said.</p>



<h2 class="wp-block-heading" id="h-ghana-debt">GHANA DEBT</h2>



<p>The International Monetary Fund&#8217;s executive board approved the second review of Ghana&#8217;s $3 billion loan programme on Friday, allowing for the immediate disbursement of around $360 million, the Fund said.</p>



<h2 class="wp-block-heading" id="h-kenya-debt">KENYA DEBT</h2>



<p>Kenyan activists on Friday circulated calls for fresh protests, strikes and sit-ins demanding President William Ruto quit, after nationwide demonstrations forced him to U-turn on proposed tax hikes.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 1


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, June 27 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled political and economic events, equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-political-events">POLITICAL EVENTS</h2>



<p>Negotiations over cabinet positions continue between the 10 political parties that make up the government of national unity. The cabinet could be announced on Thursday, judging by comments by party officials.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>The South African Reserve Bank will release the June Quarterly Bulletin.</p>



<p>Statistics South Africa will publish May producer price inflation figures.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand edged lower on Wednesday, as an announcement on President Cyril Ramaphosa&#8217;s cabinet appeared imminent amid uncertainty over key appointments in the executive.</p>



<p>On the stock market, the Top-40 index closed 0.5% lower.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares fell and bond yields spiked on nervousness about inflation on Thursday, while the yen&#8217;s slide past 160-per-dollar had currency traders bracing for Japan to step in and steady it.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Major U.S. stock indexes closed with modest gains on Wednesday after a choppy trading session, with investors holding their cards close to the vest ahead of a presidential debate and an inflation report closely watched by Federal Reserve policy makers.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Bank of America raises red flag over stability of GNU</p>



<p>&#8211; Ramaphosa draws DA closer as he prepares to announce cabinet</p>



<p>(Compiled by Tannur Anders; Editing by Mark Potter)</p>


South African Markets – Factors to watch on June 27


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, June 27 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares fell and bond yields spiked on nervousness about inflation on Thursday, while the yen&#8217;s slide past 160-per-dollar had currency traders bracing for Japan to step in and steady it.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices dipped on Thursday as a surprise build in U.S. stockpiles fuelled fears about slow demand from the world&#8217;s top oil consumer, though declines were capped by worries a potential expansion of the Gaza war may disrupt Middle East supplies.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand edged lower on Wednesday, as an announcement on President Cyril Ramaphosa&#8217;s cabinet appeared imminent amid uncertainty over key appointments in the executive.</p>



<h2 class="wp-block-heading" id="h-nigeria-refinery">NIGERIA REFINERY</h2>



<p>Nigeria&#8217;s Dangote Refinery is operating normally after a fire at its effluent treatment plant, it said on Wednesday, after videos circulated online of dark plumes of smoke at the 650,000 barrel-per-day facility.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was flat on Wednesday, as traders waited to see how protests against tax hikes unfolded.</p>



<h2 class="wp-block-heading" id="h-kenya-budget">KENYA BUDGET</h2>



<p>Kenyan President William Ruto on Wednesday withdrew planned tax hikes, bowing to pressure from protesters who had stormed parliament, launched demonstrations across the country and threatened more action this week.</p>



<h2 class="wp-block-heading" id="h-zambia-debt">ZAMBIA DEBT</h2>



<p>The International Monetary Fund (IMF) said on Wednesday its executive board had completed a third review of Zambia&#8217;s Extended Credit Facility and approved an immediate disbursement of some $569.6 million.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on June 27


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, June 24 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s Johannesburg Stock Exchange will release data on foreigners&#8217; buying and selling of bonds and stocks during the previous week.</p>



<p>South Africa&#8217;s government will hold its weekly auction for Treasury bills.</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>South African technology investor Naspers&nbsp;NPNJn.J&nbsp;will report its full-year results in which it expects profits to more than double on improved performance of its e-commerce businesses and China&#8217;s Tencent.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand was little changed on Friday, as investor focus remained on President Cyril Ramaphosa&#8217;s imminent cabinet appointments under a new unity government.</p>



<p>On the stock market, the Top-40 index closed 0.56% lower while the broader all-share index closed 0.38% lower.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asia shares slipped on Monday in a countdown for U.S. price data that investors are banking on to show a renewed moderation in inflation, while markets were on alert for possible Japanese intervention as the dollar tested the 160 yen barrier.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 and Nasdaq closed marginally lower on Friday, weighed down by a decline in Nvidia shares for a second straight day, which dragged down the technology sector.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials&#8217; comments through the week for fresh clues on the potential timing of the central bank&#8217;s interest rate cut.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Patel gives rail network and ports a lifeline in last act as minister</p>



<p>&#8211; Standard Bank sees two repo rate cuts this year</p>



<p>(Compiled by Tannur Anders)</p>


South African Markets – Factors to watch on June 24


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, June 24 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asia shares slipped on Monday in a countdown for U.S. price data that investors are banking on to show a renewed moderation in inflation, while markets were on alert for possible Japanese intervention as the dollar tested the 160 yen barrier.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices fell in early Asian trade on Monday for a second straight session, weighed down by a stronger dollar after concerns of higher-for-longer interest rates resurfaced and cooled investors&#8217; risk appetite.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand was little changed on Friday, as investor focus remained on President Cyril Ramaphosa&#8217;s imminent cabinet appointments under a new unity government.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigerian energy firm Aiteo has resumed production after stopping an oil leak at its nearly 50,000 barrels per day (bpd) Nembe field earlier this week in southern Bayelsa state, the company said.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was unchanged on Friday, as hard-currency inflows from tea exporters matched demand from manufacturers, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-budget">KENYA BUDGET</h2>



<p>One person was killed and at least 200 people injured across Kenya in Thursday&#8217;s nationwide protests against government plans to raise $2.7 billion in additional taxes, an alliance of rights groups and the police watchdog said.</p>



<h2 class="wp-block-heading" id="h-uganda-corruption">UGANDA CORRUPTION</h2>



<p>Three Ugandan legislators have been charged with corruption-related offences, according to a charge sheet seen by Reuters on Saturday, as President Yoweri Museveni&#8217;s government widens its crackdown on rampant graft among lawmakers.</p>



<h2 class="wp-block-heading" id="h-madagascar-economy">MADAGASCAR ECONOMY</h2>



<p>The IMF said on Friday that its executive board had approved $337 million for Madagascar to help increase economic resilience and about $321 million to address the country&#8217;s climate vulnerabilities.</p>



<h2 class="wp-block-heading" id="h-mali-politics">MALI POLITICS</h2>



<p>An alliance of political parties and civil society groups in junta-led Mali said several of their leaders were arrested on Thursday evening during a private meeting at a house of a former minister. The alliance in a statement demanded their prompt release.</p>



<h2 class="wp-block-heading" id="h-gabon-petroleum">GABON PETROLEUM</h2>



<p>Carlyle Group said on Friday that it had completed the sale of its oil and gas company Assala Energy to Gabon&#8217;s national oil company.</p>



<h2 class="wp-block-heading" id="h-zambia-economy">ZAMBIA ECONOMY</h2>



<p>Zambia&#8217;s finance minister asked parliament on Friday to approve an additional funding of 41.9 billion kwacha ($1.65 billion) for repaying the country&#8217;s external debt and addressing a severe drought that has affected crops.</p>



<p>(Compiled by Nairobi Newsroom)</p>


African Markets – Factors to watch on June 24


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg" alt="" class="wp-image-498541" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg 720w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-300x177.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-152x90.jpg 152w" sizes="auto, (max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Kenya shilling coins and notes are pictured inside a cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



<p>NAIROBI, June 20 (Reuters)&nbsp;&#8211;&nbsp;The Kenyan, Ghanaian and Ugandan currencies are expected to weaken over the next week to Thursday, while Nigeria&#8217;s and Zambia&#8217;s could trade around their current levels, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya">KENYA</h2>



<p>Kenya&#8217;s shilling is expected to slip on foreign-currency demand from manufacturers and importers.</p>



<p>Commercial banks quoted the shilling at 128.50/129.50 per dollar, compared with last Thursday&#8217;s closing rate of 128.00/129.00.</p>



<p>&#8220;Manufacturers and importers are starting to cover their mid-month and month-end needs,&#8221; one trader said. &#8220;I think it (the shilling) will weaken towards the middle of next week.&#8221;</p>



<p>The shilling has strengthened 22% against the dollar since the start of the year, according to LSEG data, boosted by a government debt management exercise that saw it buy back most of a $2 billion Eurobond that had unnerved investors.</p>



<h2 class="wp-block-heading" id="h-nigeria">NIGERIA</h2>



<p>Nigeria&#8217;s naira is seen range-bound on the official market next week, as demand for foreign exchange slows and central bank interventions dry up.</p>



<p>LSEG data showed the naira trading at 1,481 to the dollar on the official market on Thursday, around the same level as a week ago. The unit hit 1,492 naira versus the U.S. currency on the parallel market.</p>



<p>&#8220;We expect the naira to remain relatively stable next week,&#8221; a trader said.</p>



<h2 class="wp-block-heading" id="h-ghana">GHANA</h2>



<p>Ghana&#8217;s cedi is expected to weaken further next week as local firms, especially in the manufacturing and telecommunication sectors, seek more dollars to buy imported goods.</p>



<p>LSEG data showed the cedi trading at 15.10 to the dollar on Thursday, compared with 15.00 at last Thursday&#8217;s close.</p>



<p>&#8220;The cedi lost further ground against the dollar this week, driven by continued demand pressures amid limited supply,&#8221; said Chris Nettey, head of trading at Stanbic Bank Ghana.</p>



<p>&#8220;We expect a similar narrative in the coming sessions, but the cedi&#8217;s downside could be limited by anticipation of the IMF disbursement of $360 million and Bank of Ghana interventions,&#8221; he added.</p>



<p>Sedem Dornoo, senior trader at Absa Bank Ghana, said foreign-currency flows were expected to remain thin and demand elevated.</p>



<h2 class="wp-block-heading" id="h-uganda">UGANDA</h2>



<p>Uganda&#8217;s shilling is seen trading with a weakening bias over the coming days, undermined by elevated demand for hard currency from merchandise importers.</p>



<p>Commercial banks quoted the shilling at 3,740/3,750 to the dollar on Thursday, compared to last Thursday&#8217;s close of 3,710/3,720.</p>



<p>&#8220;We are seeing significant (dollar) demand from importers which I reckon will remain elevated in the short term, particularly as we move toward the close of the fiscal year,&#8221; one trader said.</p>



<p>Uganda&#8217;s fiscal year ends in June.</p>



<p>The trader said the shilling was likely to weaken to around 3,780 against the dollar in the coming week.</p>



<h2 class="wp-block-heading" id="h-zambia">ZAMBIA</h2>



<p>Zambia&#8217;s kwacha is likely to hold steady following a decrease in demand for hard currency.</p>



<p>On Thursday commercial banks quoted the currency at 25.45 per dollar from 26.30 a week ago.</p>



<p>&#8220;The local unit is expected to exhibit forms of stability in the short run,&#8221; Access Bank said in a note.</p>



<p>(Reporting by Hereward Holland, Christian Akorlie, Chijioke Ohuocha, Elias Biryabarema and Chris Mfula; Editing by Alexander Winning)</p>


ANCK25OQIFMHTJYACOM5XU5T24

WEEKAHEAD-Kenyan, Ghanaian and Ugandan currencies seen falling


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1152" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg" alt="" class="wp-image-400641" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-1536x864.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">A collection of mixed denomination South African rand coins sit in an arranged photo in Johannesburg, South Africa, on Thursday, June 22, 2017. South Africas inflation rate rose for the first time this year in May after food-price growth quickened from the slowest pace since December 2015. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



<p>JOHANNESBURG, June 20 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand edged lower early on Thursday, as investors turned cautious ahead of newly re-elected President Cyril Ramaphosa&#8217;s cabinet appointments under a unity government.</p>



<p>At 0726 GMT, the rand traded at 17.9850 against the dollar, 0.15% weaker than its previous close.</p>



<p>The local currency had strengthened to a near 11-month high of 17.9200 on Wednesday after five political parties joined the African National Congress last week in forming a government of national unity, after it lost its absolute majority in general election.</p>



<p>&#8220;Markets will now be watching President Ramaphosa&#8217;s cabinet appointments with interest,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>There is no major economic data due in South Africa till next Thursday when Statistics South Africa will release monthly producer inflation figures.</p>



<p>On the stock market, the Top-40 index was up 0.2% in early trade.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker, with the yield up 4 basis points at 9.785%.</p>



<p>(Reporting by Bhargav Acharya; Editing by Shinjini Ganguli)</p>


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