
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 11 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Friday.</p>



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



<p>South African inflation-linked bond auction</p>



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



<p>The South African rand firmed against the dollar on Thursday after data showed a slight decline in U.S. inflation in September, keeping the Federal Reserve on track to cut interest rates again next month.</p>



<p>On the Johannesburg stock market, the Top-40 index closed little changed.</p>



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



<p>Asian shares were headed for their first weekly loss in five on Friday as a stunning rally in Chinese shares took a breather, although all eyes are on the details of much-anticipated fiscal stimulus from Beijing this weekend.</p>



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



<p>Wall Street&#8217;s main indexes closed lower on Thursday as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the U.S. economy and the path for interest rates. </p>



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



<p>Gold prices climbed on Friday after recent data firmed bets for a Federal Reserve rate cut next month, while market participants awaited the U.S. Producer Price Index (PPI) report for further direction.</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; Township malls thrive despite high rates, Nedbank says</p>



<p>&#8211; Manganese the target in Exxaro’s search for assets</p>



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



<p>&#8211; &#8216;Severe threat&#8217; of disruption at OR Tambo amid SARS delays, industry warns</p>



<p>&#8211; &#8216;Nothing to work with&#8217;: Good intentions, quick fixes not solving SA&#8217;s deep logistics problem</p>



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


istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Oct 11


<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>Oct 11 (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>Nigeria court to rule on Binance executive&#8217;s bail request</p>



<p>A Kenyan court is due to rule on whether a a case challenging deputy president Rigathi Gachagua&#8217;s impeachment should be referred to the Chief Justice for further direction.</p>



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



<p>Asian shares were headed for the first weekly loss in five as the stunning rally in Chinese shares took a breather, although all eyes are on the details of the much-anticipated fiscal stimulus from Beijing this weekend.</p>



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



<p>Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites.</p>



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



<p>The South African rand firmed against the dollar on Thursday after data showed a slight decline in U.S. inflation in September, keeping the Federal Reserve on track to cut interest rates again next month.</p>



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



<p>The Nigerian and Ghanaian currencies are expected to fall in the next week to Thursday, while Uganda&#8217;s and Zambia&#8217;s could be relatively steady, traders said.</p>



<h2 class="wp-block-heading" id="h-mozambique-election">MOZAMBIQUE ELECTION</h2>



<p>Votes were being counted by Mozambique&#8217;s national election authorities on Thursday as civil society monitors were compiling a parallel tally to try to detect possible signs of fraud.</p>



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



<p>Rights activists and local responders said scores of civilians had been killed at sites across Sudan in the past week as the army escalates air strikes nearly 18 months into its war with the paramilitary Rapid Support Forces.</p>



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



<p>The presidents of Egypt, Eritrea and Somalia agreed on Thursday to boost cooperation for the Somali army to confront &#8220;terrorism&#8221; and protect its land and sea borders, a joint statement said, leaving Ethiopia further isolated in the region.</p>



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


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Oct 11


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7XVXXY5BZZKBDMNDKCX3HG2N4A-820x547.jpg" alt="" class="wp-image-540667" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7XVXXY5BZZKBDMNDKCX3HG2N4A-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7XVXXY5BZZKBDMNDKCX3HG2N4A-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7XVXXY5BZZKBDMNDKCX3HG2N4A-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7XVXXY5BZZKBDMNDKCX3HG2N4A-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7XVXXY5BZZKBDMNDKCX3HG2N4A-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7XVXXY5BZZKBDMNDKCX3HG2N4A.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via Reuters</figcaption></figure>



<p>ABUJA, Oct 10 (Reuters)&nbsp;&#8211;&nbsp;The Nigerian and Ghanaian currencies are expected to fall in the next week to Thursday, while Uganda&#8217;s and Zambia&#8217;s could be relatively steady, traders said.</p>



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



<p>Nigeria&#8217;s naira could lose ground due to rising dollar demand from individuals paying school fees abroad and importers stocking up for the festive season.</p>



<p>The central bank has only intermittently intervened to support the currency.</p>



<p>The naira was quoted at 1,648 to the dollar on the official market on Thursday, LSEG data showed, compared with around 1,671 a week earlier.</p>



<p>The currency changed hands in street trading at 1,690 naira to the dollar on Thursday.</p>



<p>&#8220;The panic button is 1,700 naira and as it approaches those levels the central bank has intensified intervention, but it is not enough to quench demand,&#8221; one 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 due to corporate foreign-currency demand, mainly from the manufacturing and energy sectors.</p>



<p>LSEG data showed the cedi trading at 15.88 to the dollar on Thursday, compared to 15.77 at last Thursday&#8217;s close.</p>



<p>&#8220;The cedi weakened slightly against the dollar this week, driven by a reduced supply of dollars despite the central bank&#8217;s 7-day funded forward support of approximately $54 million,&#8221; head of trading Stanbic Bank Ghana Chris Nettey said.</p>



<p>&#8220;We anticipate a similar trend in the coming sessions,&#8221; he added.</p>



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



<p>Uganda&#8217;s shilling is seen broadly stable, underpinned by healthy inflows of hard currency from remittances and mid-month tax payments.</p>



<p>Commercial banks quoted the shilling at 3,670/3,680 to the dollar, compared to last Thursday&#8217;s close of 3,660/3,670.</p>



<p>&#8220;Remittances are coming in and we expect the volumes to increase for the remainder of October and going into November,&#8221; one trader said.</p>



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



<p>Zambia&#8217;s kwacha is likely to be little changed.</p>



<p>On Thursday the kwacha was trading at 26.37 per dollar from 26.20 a week ago.</p>



<p>&#8220;The kwacha is anticipated to remain rangebound, with factors of demand and supply dictating the currency&#8217;s next move,&#8221; Zambia National Commercial Bank said in a note.</p>



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


7XVXXY5BZZKBDMNDKCX3HG2N4A

Nigerian and Ghanaian currencies seen falling


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



<p>JOHANNESBURG, Oct 10 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand edged higher against the dollar on Thursday, ahead of local mining and manufacturing data and a U.S. inflation report.</p>



<p>At 0727 GMT, the rand traded at 17.6275 against the dollar, 0.13% stronger than its previous close.</p>



<p>The dollar index was steady against a basket of currencies. It had gained earlier following the release of minutes from the Federal Reserve&#8217;s September meeting on Wednesday, which confirmed the central bank would take a cautious approach to monetary easing.</p>



<p>The rand has lost some steam after rallying against the dollar in late September and much of its recent weakness can be attributed to the resurgence of the greenback, analysts said.</p>



<p>South African investor focus is now on the release of August mining and manufacturing data, while a U.S. consumer price index report looms later in the day.</p>



<p>&#8220;Even if (U.S.) CPI comes in lower than expected, the market seems to have largely priced in the Fed’s cautious approach, meaning that significant ZAR recovery against the USD is unlikely in the near term,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



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



<p>South Africa&#8217;s benchmark 2030 government bond was marginally weaker, with the yield up 1 basis point to 9.18%.</p>



<p>(Reporting by Bhargav Acharya; Editing by Christopher Cushing)</p>


South African Rand Rebound Snaps Streak of Weekly Losses

South African rand edges higher ahead of local data, US inflation report


<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>Oct 10 (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>Vote counting is underway in Mozambique after a general election on Wednesday that is widely expected to deliver another victory for the ruling Frelimo party, which has been in power since 1975.</p>



<p>Rwanda&#8217;s statistics office releases September inflation data.</p>



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



<p>Chinese stocks resumed their rally on Thursday, fanned by expectations a briefing from finance officials this weekend would deliver anticipated fiscal stimulus, while the dollar lingered near a two-month high before a U.S. inflation report.</p>



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



<p>Oil prices rose on Thursday underpinned by a spike in fuel demand as a major storm barreled into Florida and concerns about potential supply disruptions in the Middle East amid heightened tensions between Israel and major oil producer Iran.</p>



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



<p>South Africa&#8217;s rand softened on Wednesday, ahead of the closely watched minutes from the Federal Reserve&#8217;s September meeting.</p>



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



<p>Kenya&#8217;s shilling was steady against the dollar on Wednesday, supported by dollar inflows from the tea sector and diaspora remittances, one commercial bank trader said.</p>



<h2 class="wp-block-heading" id="h-mozambique-election">MOZAMBIQUE ELECTION</h2>



<p>Vote counting started in Mozambique on Wednesday evening for an election that is widely expected to deliver another victory for the ruling Frelimo party, which has been in power since 1975.</p>



<h2 class="wp-block-heading" id="h-sudan-war">SUDAN WAR</h2>



<p>The leader of the Sudanese paramilitary Rapid Support Forces (RSF) Mohamed Hamdan Dagalo, known as Hemedti, accused Egypt of being involved in airstrikes on the group&#8217;s troops in a recorded speech on Wednesday.</p>



<h2 class="wp-block-heading" id="h-chad-flood">CHAD FLOOD</h2>



<p>The Logone river in Chad&#8217;s capital has risen to its highest level in 30-40 years, the authorities said on Wednesday, threatening further turmoil to a country that has been battling devastating nationwide floods for weeks.</p>



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



<p>Kenya&#8217;s parliament voted on Tuesday to impeach Deputy President Rigathi Gachagua on charges including enriching himself and stirring ethnic hatred, the chamber&#8217;s speaker said, paving the way for the senate to consider the motion.</p>



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


African Markets – Factors to watch on Oct 10


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 10 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Thursday.</p>



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



<p>Statistics South Africa to release August mining production data at 0930 GMT</p>



<p>Statistics South Africa to release August manufacturing production data at 1100 GMT</p>



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



<p>South Africa&#8217;s rand softened on Wednesday, ahead of the closely watched minutes from the Federal Reserve&#8217;s September meeting.</p>



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



<p>Chinese stocks resumed their rally on Thursday, fanned by expectations a briefing from finance officials this weekend would deliver anticipated fiscal stimulus, while the dollar lingered near a two-month high before a U.S. inflation report.</p>



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



<p>Wall Street stocks advanced on Wednesday with the S&amp;P 500 and the Dow scoring record closing highs after the release of Federal Reserve meeting minutes and ahead of September inflation data and the earnings season.</p>



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



<p>Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve&#8217;s future monetary policy stance.</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; Minimum corporate tax proposal widely criticised and called unfair</p>



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



<p>&#8211; SARS warns it&#8217;s on the trail of taxpayers hiding crypto assets offshore</p>



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


South African Markets – Factors to watch on Oct 10


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017.   REUTERS/Thomas White/Illustration</figcaption></figure>



<p>JOHANNESBURG, Oct 9 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand edged lower on Wednesday, ahead of the closely watched minutes from the Federal Reserve&#8217;s September meeting.</p>



<p>At 0746 GMT, the rand traded at 17.6125 against the dollar, 0.11% lower than its previous close.</p>



<p>The dollar index was last up 0.17% against a basket of currencies.</p>



<p>Fed minutes due later in the day are expected to provide an explanation for the central bank&#8217;s big interest rate cut last month, and could potentially offer more clues on its interest rate trajectory.</p>



<p>The risk-sensitive rand is susceptible to global movers like the direction of U.S. monetary policy and its recent weakness was expected ahead of closely watched U.S. data, analysts say.</p>



<p>&#8220;Uncertainties in the US are keeping the rand under pressure. A stronger USD would make the ZAR relatively weaker, and the Fed&#8217;s messaging regarding interest rate cuts is a key factor here,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>On Thursday, September U.S. consumer inflation figures will be released, while domestic investors also turn their focus towards monthly mining and manufacturing data.</p>



<p>On the stock market, the Top-40 index was down 0.85%.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was stronger, with the yield down 2.5 basis points to 9.210%.</p>



<p>(Reporting by Bhargav Acharya, Editing by Louise Heavens)</p>


Illustration photo of South African rand

South African rand edges lower ahead of Fed minutes


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 9 (Reuters)&nbsp;&#8211;&nbsp;The following equity and currency market moves may affect South African markets on Wednesday.</p>



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



<p>The South African rand weakened on Tuesday, and is likely to take direction from U.S. inflation data and minutes from the Federal Reserve&#8217;s September meeting due this week.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed 0.95% lower.</p>



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



<p>Chinese shares slumped and commodities were struggling to find a footing on Wednesday as investors tempered expectations for a robust Chinese economic recovery, while a downbeat outlook from New Zealand&#8217;s central bank sent the kiwi to a seven-week low.</p>



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



<p>Wall Street&#8217;s benchmarks finished up on Tuesday, recouping some of the previous session&#8217;s losses, as investors bought back in to technology stocks and investors shifted their focus to upcoming inflation data and the start of third-quarter earnings season.</p>



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



<p>Gold prices were subdued on Wednesday as investors strapped in for minutes from the Federal Reserve&#8217;s latest policy meeting for insights into the U.S. central bank&#8217;s interest rate trajectory. </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; Visa relief for SA employers as Schreiber gazettes reforms</p>



<p>&#8211; ARC Investments reassesses JSE listing</p>



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



<p>&#8211; Facebook body to make key ruling over posts glorifying apartheid, old SA flag</p>



<p>&#8211; SA&#8217;s new transmission company needs cost-reflective power tariff &#8211; chair</p>



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


South African Markets – Factors to watch on Oct 9


<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>Oct 9 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.</p>



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



<p>Mozambicans talks about their hopes and fears as the country votes in presidential and parliamentary elections.</p>



<p>Nigeria&#8217;s Federal High Court in Abuja will rule on whether to release on bail Binance&#8217;s head of financial compliance Tigran Gambaryan or keep him in prison custody while he undergoes trial on money laundering charges, which he denies.</p>



<p>Kenya&#8217;s central bank governor holds a news conference a day after announcing the bank&#8217;s latest lending rate decision.</p>



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



<p>Mainland Chinese stocks returned from an extended break with a roaring start on Tuesday, scaling multi-year highs as investor exuberance over Beijing&#8217;s aggressive stimulus measures showed no signs of easing.</p>



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



<p>Oil prices steadied in Asian trading on Wednesday as traders weighed developments in the Middle East conflict against continued bearish expectations for demand.</p>



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



<p>The South African rand weakened on Tuesday, and is likely to take direction from U.S. inflation data and minutes from the Federal Reserve&#8217;s September meeting due this week.</p>



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



<p>Kenya&#8217;s shilling was unchanged against the dollar on Tuesday, data from the London Stock Exchange Group showed.</p>



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



<p>Kenya&#8217;s parliament voted on Tuesday to impeach Deputy President Rigathi Gachagua on charges including enriching himself and stirring ethnic hatred, the chamber&#8217;s speaker said, paving the way for the senate to consider the motion.</p>



<h2 class="wp-block-heading" id="h-mozambique-election">MOZAMBIQUE ELECTION</h2>



<p>Mozambique votes on Wednesday in a tense general election highly likely to deliver victory to the ruling party, Frelimo, which has governed the Southern African nation since 1975.</p>



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


African Markets – Factors to watch on Oct 9


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="500" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-820x500.jpg" alt="" class="wp-image-495627" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-820x500.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-300x183.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-148x90.jpg 148w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-768x468.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-1536x936.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: South African Rand coins are seen in this illustration picture taken October 28, 2020.  REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



<p>JOHANNESBURG, Oct 8 (Reuters)&nbsp;&#8211;&nbsp;The South African rand weakened in early trade on Tuesday, and was likely to take direction from U.S. inflation data and minutes from the Federal Reserve&#8217;s September meeting due this week.</p>



<p>At 0720 GMT, the rand traded at 17.48 against the dollar, about 0.6% weaker than its previous close.</p>



<p>&#8220;The USD/ZAR is influenced by U.S. CPI data, the Fed’s monetary policy direction, and the U.S. election,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>&#8220;The dollar remains strong, supported by solid U.S. jobs data, while the ZAR awaits further clarity on these factors.&#8221;</p>



<p>Minutes from the Fed&#8217;s September meeting due on Wednesday are expected to explain the central bank&#8217;s big rate cut last month, possibly offering further clues to the bank&#8217;s future path on interest rates.</p>



<p>Thursday&#8217;s focus will also be on U.S. September inflation figures, which Cilliers said could provide signs of disinflation, crucial for shaping Fed policy.</p>



<p>Like other risk-sensitive currencies, the rand often takes cues from global drivers such as U.S. monetary policy in the case of a light domestic calendar.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index was down about 1.7% in early trade.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was slightly weaker in early deals, with the yield up 0.5 basis points at 9.215%.</p>



<p>(Reporting by Tannur Anders; Editing by Clarence Fernandez)</p>


FILE PHOTO: South African Rand coins are seen in this illustration picture

South African rand weakens, focus on upcoming US data


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



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



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



<p>Africa Oil Week conference commences</p>



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



<p>South African government&#8217;s weekly long-term bonds auction</p>



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



<p>South Africa&#8217;s rand gained against the dollar on Monday after tumbling last week, as investors turned their attention towards U.S. inflation data later this week and comments by Federal Reserve officials.</p>



<p>On the stock market, the Top-40 index closed little changed.</p>



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



<p>Mainland Chinese stocks returned from an extended break with a roaring start on Tuesday, scaling multi-year highs as investor exuberance over Beijing&#8217;s aggressive stimulus measures showed no signs of easing.</p>



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



<p>Wall Street&#8217;s three major indexes closed down around 1% on Monday while Treasury yields rose, as traders tamped down bets for Federal Reserve interest-rate easing and worried about the Middle East conflict&#8217;s impact on oil prices.</p>



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



<p>Gold prices edged lower on Tuesday, pressured by a stronger dollar, while market participants awaited minutes of the Federal Reserve&#8217;s last meeting and economic data for further cues on U.S. interest rate path.</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 to file memorial against Israel at ICJ by month end, Lamola says</p>



<p>&#8211; Industry conditions still challenging but De Beers expects return to growth in 2025</p>



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



<p>&#8211; SA grid crisis: New National Transmission Company to open door for private sector</p>



<p>(Compiled by Tannur Anders; Editing by Kim Coghill)</p>


South African Markets – Factors to watch on Oct 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, Oct 8 (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>Kenya&#8217;s Deputy President Rigathi Gachagua will defend himself in parliament against an impeachment motion launched by allies of President William Ruto which accuses him of stirring ethnic hatred and undermining the government.</p>



<p>Tanzania statistics office releases consumer inflation data for September.</p>



<p>Kenya&#8217;s central bank is due to announce its latest lending rate decision.</p>



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



<p>Mainland Chinese stocks returned from an extended break with a roaring start on Tuesday, scaling multi-year highs as investor exuberance over Beijing&#8217;s aggressive stimulus measures showed no signs of easing.</p>



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



<p>Oil prices fell more than $1 on Tuesday as traders took profits from a rally in the previous session that lifted the market to its highest level in over a month amid fears that the Middle East could be on the brink of a region-wide war.</p>



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



<p>South Africa&#8217;s rand gained against the dollar on Monday after tumbling last week, as investors turned their attention towards U.S. inflation data later this week and comments by Federal Reserve officials.</p>



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



<p>Kenya&#8217;s shilling was steady against the dollar on Monday, and is expected to remain level in the coming week, traders said.</p>



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



<p>A U.S. congressional watchdog has found no evidence that a 2012 Securities and Exchange Commission (SEC) conflict minerals disclosure rule has reduced violence in Democratic Republic of Congo, it said in a report on Monday.</p>



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



<p>Uganda&#8217;s central bank trimmed its key lending rate on Monday by 25 basis points for the second time in a row, lowering it to 9.75%, saying that inflation was expected to remain below its target in the near term.</p>



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



<p>Fortuna Mining said on Monday that the government of Burkina Faso does not plan to withdraw the Canadian company&#8217;s existing mining permits in the country.</p>



<h2 class="wp-block-heading" id="h-rwanda-marburg">RWANDA MARBURG</h2>



<p>The U.S. Centers for Disease Control and Prevention will issue its second-highest level of travel notice for Rwanda, recommending people to avoid nonessential travel due to the Marburg disease outbreak in the east African country, the U.S. government said on Monday.</p>



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



<p>Rescue efforts were underway after a mine pit collapsed in Zambia&#8217;s Mumbwa District, killing 10 people and injuring five, police said on Monday.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



<p>Above average rainfall recorded in most of Ivory Coast’s main cocoa producing regions boosted farmers’ hopes of higher output in the ongoing October to March season.</p>



<h2 class="wp-block-heading" id="h-congo-mining-0">CONGO MINING</h2>



<p>Ivanhoe Mines plans to build a copper mine in the Democratic Republic of Congo, as it favours boosting output through organic growth in a sector dominated by deal-making.</p>



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


African Markets – Factors to watch on Oct 8


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="507" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg" alt="" class="wp-image-533970" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-300x186.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-145x90.jpg 145w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-768x475.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-1536x950.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



<p>JOHANNESBURG, Oct 4 (Reuters)&nbsp;&#8211;&nbsp;The South African rand recuperated some losses in early trade on Friday, ahead of a key U.S. payrolls data and after slumping on Thursday as tensions escalated in the Middle East.</p>



<p>By 0730 GMT, the rand traded about 0.5% firmer at 17.4275 against the dollar. Since the start of the week, however, the local unit was down nearly 2%.</p>



<p>&#8220;The ZAR had a tough week, largely driven by a USD resurgence fuelled by better-than-expected U.S. labour data and rising geopolitical risks,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>The dollar hovered near a six-week high ahead of a payrolls report that could give hints on the path of interest rate cuts in the world&#8217;s biggest economy.</p>



<p>The greenback was also supported by demand for safe-haven assets after an Iranian missile attack on Israel on Tuesday left investors assessing widening Middle East tensions and their impact on the global economy.</p>



<p>Like other risk-sensitive currencies, the rand often takes direction from global drivers in the absence of major local factors.</p>



<p>The local unit has gained more than&nbsp;4.5%&nbsp;against the greenback over the last three months.</p>



<p>&#8220;The ZAR&#8217;s correction was overdue after a period of significant appreciation, and the nonfarm payroll data today will play a key role in determining its next move,&#8221; Cilliers added.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index was about 0.6% up in early trade.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was slightly softer in early deals, with the yield up 3.5 basis points to 9.19%.</p>



<p>(Reporting by Tannur Anders; Editing by Varun H K)</p>


Photo illustration of South African bank notes displayed next to the American dollar notes in Johannesburg

South African rand gains, focus on Middle East tension and US payrolls data


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 4 (Reuters)&nbsp;&#8211;&nbsp;The following economic event, 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&#8217;s government will hold its weekly auction of inflation-linked bonds.</p>



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



<p>The South African rand slumped against a buoyant dollar on Thursday as tensions simmered in the Middle East following Iran&#8217;s ballistic missile attack on Israel.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed 0.75% weaker.</p>



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



<p>Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a U.S. jobs report later in the day.</p>



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



<p>U.S. stocks finished lower on Thursday ahead of Friday&#8217;s monthly U.S. payrolls report and as investors kept a watchful eye on the growing conflict in the Middle East.</p>



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



<p>Gold prices climbed on Friday, supported by safe-haven demand arising from the Middle East conflict, while spotlight shifted towards U.S. payrolls report to gauge the trajectory of the Federal Reserve&#8217;s policy path.</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-fin-24">FIN 24</h2>



<p>&#8211; Growth could triple if government reform accelerates, says think-tank</p>



<p>&#8211; Eskom price hike to kill smelters and create ghost towns, says Rio Tinto exec</p>



<p>&#8211; Ramokgopa will oppose Eskom hike above 20%, wants delay of carbon tax</p>



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


South African Markets – Factors to watch on Oct 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>NAIROBI, Oct 4 (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>*Ghana&#8217;s finance ministry and the International Monetary Fund (IMF) to hold a joint news conference following the third review of a $3 billion loan programme.</p>



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



<p>Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a U.S. jobs report later in the day.</p>



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



<p>Oil prices inched up in early Asian trading hours on Friday, holding on to their strong weekly gains, as investors weighed the Middle East conflict and the potential disruption in crude flows against an amply-supplied global market.</p>



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



<p>The South African rand slumped against a buoyant dollar on Thursday as tensions simmered in the Middle East following Iran&#8217;s ballistic missile attack on Israel.</p>



<h2 class="wp-block-heading" id="h-africa-currencies">AFRICA CURRENCIES</h2>



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



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



<p>Kenya&#8217;s shilling was unchanged on Thursday, with dollar inflows from tea exporters matching importer demand, traders said.</p>



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



<p>Kenya&#8217;s private sector saw a slight deterioration in business conditions in September as output and new orders contracted again, reversing the brief recovery seen in August, Stanbic Bank reported on Thursday.</p>



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



<p>Kenya&#8217;s government has asked the International Monetary Fund to conduct an official assessment of corruption and governance issues, two sources familiar with the situation told Reuters, after a push by Western nations.</p>



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



<p>Ghana&#8217;s investors have signed off on its proposal to restructure $13 billion worth of international bonds, the government said on Thursday, paving the way for the country to emerge from a painful 2022 debt default.</p>



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



<p>A group of Ethiopia&#8217;s international bondholders rejected on Thursday the outlines of a government restructuring proposal for its $1 billion bond that was presented in an investors call earlier this week.</p>



<h2 class="wp-block-heading" id="h-ethiopia-central-bank">ETHIOPIA CENTRAL BANK</h2>



<p>Ethiopia&#8217;s central bank said on Thursday it plans to sell $175 million into the foreign exchange market to address fuel-related import payments due over the coming months.</p>



<h2 class="wp-block-heading" id="h-tanzania-central-bank-rate">TANZANIA CENTRAL BANK RATE</h2>



<p>Tanzania&#8217;s central bank held its key interest rate unchanged at 6%, it said on Thursday.</p>



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



<p>Tanzania&#8217;s communications regulator has suspended the digital platforms of a local media company over the publication of what it called restricted content, a move one opposition group said was aimed at muzzling media that is critical of the government.</p>



<h2 class="wp-block-heading" id="h-mauritius-chagos-island">MAURITIUS CHAGOS ISLAND</h2>



<p>Britain said on Thursday it would cede sovereignty of the Chagos Islands to Mauritius in a deal it said secured the future of the UK-U.S. Diego Garcia military base, and which could also pave the way for people displaced decades ago to return home.</p>



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


African Markets – Factors to watch on Oct 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/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Oct 3 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves could affect South African markets on Thursday.</p>



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



<p>S&amp;P Global Whole Economy PMI for September.</p>



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



<p>South African mining executives gather for an annual industry conference.</p>



<p>South Africa&#8217;s second-biggest grocery group SPAR appointed Moegamat Reeza Isaacs as chief financial officer with effect from Jan. 1, 2025.</p>



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



<p>The South African rand weakened against a stronger dollar on Wednesday.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 0.6% higher.</p>



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



<p>Japanese stocks jumped and the yen fell on Thursday as the risk of further tightening in monetary policy this year faded, while a sizzling rally in Hong Kong&#8217;s share market took a breather.</p>



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



<p>The S&amp;P 500 ended little changed on Wednesday, with technology shares gaining but investors nervous about Middle East tensions and more U.S. labour data due this week.</p>



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



<p>Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of U.S. economic data that could provide clues about the size of Federal Reserve interest rate cuts expected later this year.</p>



<p>(Compiled by Tannur Anders; Editing by David Goodman)</p>


South African Markets – Factors to watch on Oct 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>



<p>NAIROBI, Oct 3 (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>*Tanzania&#8217;s central bank announces its latest lending rate decision.</p>



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



<p>Japanese stocks jumped and the yen fell on Thursday as the risk of further tightening in monetary policy this year faded, while the sizzling rally in Hong Kong&#8217;s share market took a breather.</p>



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



<p>Oil prices rose on Thursday as the prospect of a widening Middle East conflict that could disrupt crude oil flows from the key exporting region overshadowed a stronger global supply outlook.</p>



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



<p>The South African rand weakened against a stronger dollar on Wednesday, as markets worried about rising tensions in the Middle East.</p>



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



<p>Kenya&#8217;s shilling  was steady on Wednesday, and was expected to firm, helped by dollar inflows from tea exporters, traders said.</p>



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



<p>Kenya&#8217;s economy expanded by 4.6% year-on-year in the second quarter of 2024, down from 5.6% in the corresponding quarter of the previous year, the national statistics office said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-kenya-central-bank-rate">KENYA CENTRAL BANK RATE</h2>



<p>Kenya&#8217;s central bank rate should start lowering its lending rate due to falling inflation in recent months, Finance Minister John Mbadi said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-uganda-foreign-exchange-reserves">UGANDA FOREIGN EXCHANGE RESERVES</h2>



<p>Uganda&#8217;s foreign exchange reserves shrank 4.3% in the three months to the end of July from the previous three months, extending a recent downward trend, the central bank said in a report published on Wednesday.</p>



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



<p>Uganda is seeking funds to build three hydropower plants that would add over 1,600 megawatts (MW) of capacity to help meet rising power demand, an energy official said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-madagascar-mining">MADAGASCAR MINING</h2>



<p>Madagascar&#8217;s nickel and cobalt miner Ambatovy has shut down a pipeline supplying ore from its mine in the country&#8217;s east to a processing and refinery plant due to damage, its major shareholder Sumitomo Corp 8053.T said.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



<p>Ivory Coast, the world&#8217;s top cocoa producer, has granted cocoa export licences to 106 companies and cooperatives for the 2024/25 season, up from 92 last season, according to a document from the Coffee and Cocoa Council (CCC) seen by Reuters on Wednesday.</p>



<h2 class="wp-block-heading" id="h-mozambique-petroleum">MOZAMBIQUE PETROLEUM</h2>



<p>Patrick Pouyanne, the chairman and chief executive of TotalEnergies, said he planned to go to Mozambique later this month to meet the country&#8217;s new president over the company&#8217;s planned project in Mozambique.</p>



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


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