The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
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NIGERIA – Nigeria, struggling with low growth after a recession, releases Q4 and full year 2019 GDP figures.
RWANDA – The finance minister is scheduled to present a revised 2019/20 budget to parliament.
Global shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East.
WORLD OIL PRICES
Oil prices tumbled nearly 3% towards a one-week low on Monday as the rapid spread of the coronavirus in several countries outside China left investors fretting about a hit to demand.
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SOUTH AFRICA MARKETS
The South African rand recovered from a four-month low on Friday as the U.S. dollar fell on weak survey data, but traders were cautious before a closely watched budget speech next week.
The Kenyan shilling KES= was seen easing on Friday due to up-tick in end month dollar demand from merchandise importers and the energy sector, traders said.
Togo’s President Faure Gnassingbe has won re-election with 72% of the vote, according to preliminary results from the electoral commission on Monday, extending his 15-year rule and a family dynasty that began when his father took power in a 1967 coup.
SOUTH SUDAN POLITICS
Former rebel leader Riek Machar was sworn in as South Sudan’s first vice president on Saturday as part of a unity government with his former adversary President Salva Kiir, a tentative step towards peace after years of civil war ravaged the oil-rich yet impoverished nation.
ETHIOPIA CRASH REPORT
Ethiopia plans to release an interim report into a deadly Boeing 737 MAX crash, which killed 157 passengers and crew, ahead of the first anniversary of the accident next month, an official said on Saturday.
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