Africa business report – Thursday 27th April

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The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets
    - - - - -
 EVENTS:
 *KENYA - Opposition National Super Alliance of Kenya (Nasa)
 to announce its presidential flagbearer to stand in August 8
 elections.
 *Kenya's central bank to auction 91-day and 364-day Treasury
 bills worth a total 20 billion shillings.
 
 GLOBAL MARKETS
 Asian shares eased from a near two-year high on Thursday as
 a long-awaited U.S. tax cut plan failed to inspire
 investors, though sentiment remained supported by global
 growth prospects and receding worries about political risks
 in Europe.                       
 
 WORLD OIL PRICES
 Oil prices dipped on Thursday, weighed down by a general
 sentiment of globally bloated markets, though traders said
 that prices seemed to have found support around current
 levels.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand fell from a 3-week high against the U.S.
 dollar on Wednesday as the greenback rose and traders closed
 positions ahead of a national holiday.            
 
 NIGERIA MARKETS
 The value of Nigeria's latest naira exchange rate, set
 specifically for portfolio investors, eased for a second
 straight day on Wednesday even as the central bank stepped
 up dollar sales on the spot and forward markets.            
 
 NIGERIA DEBT
 Nigerian President Muhammadu Buhari is seeking parliament's
 approval for a proposal to borrow $5.85 billion from China
 to modernise its rail network and another $1.075 billion
 from the World Bank to help rebuild the insurgency-torn
 northeast.            
 
 KENYA MARKETS
 The Kenyan shilling        was stable against the dollar on
 Wednesday, helped by foreign exchange inflows from
 remittances and flat end-month dollar demand from oil
 importers, traders said.            
 
 GHANA ECONOMY
 Ghana's gross domestic product growth in 2016 GDP stood at a
 provisional figure of 3.5 percent year-on-year, down from
 3.9 percent in 2015, acting government statistician Baah
 Wadieh told a news conference on Wednesday.            
 
 GUINEA MINING
 Guinea will not accept any major changes to the terms of the
 Simandou iron ore project that Chinalco bought from Rio
 Tinto, including building a 650-km railway rather than
 taking a shorter route via its neighbours, the mines
 minister said on Wednesday.            
 
 SOUTH SUDAN UNREST
 East African states and South Africa believe that allowing
 South Sudanese rebel leader Riek Machar to return to the
 war-torn country would not "necessarily be positive at this
 stage," said United Nations envoy David Shearer on
 Wednesday.            
 
 SOUTH SUDAN ECONOMY
 Banks in war-ravaged South Sudan have run out of cash and
 the crunch is exacerbating hunger and widespread famine, the
 deputy finance minister said on Wednesday.            
 
 BOTSWANA ELECTRICITY
 Botswana's government on Wednesday granted First Quantum
 Minerals Ltd FM.TO and African Energy          a tax holiday
 to build the 450 megawatt (MW) Sese coal power plant in a
 bid to encourage private sector investment in the
 sector.

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