SOUTH AFRICA MARKETS

South Africa’s rand slipped sharply after Finance Minister

Pravin Gordhan cut his 2016 growth forecast on Wednesday to

0.9 percent, down from a previous forecast of 1.7 percent,

citing a recent drought.

 NIGERIA MARKETS

Nigeria’s naira firmed sharply on the parallel market on

Wednesday as retail traders, having anticipated a cut in its

official rate and stocked up on dollars, bought the local

currency back after the government said it would not

devalue.

Also, Nigeria plans to raise 329.93 billion naira in

treasury bills with maturities range between 3-month and

1-year at an auction on March 2, the central bank said on

Wednesday.

 NIGERIA TELECOMS

South African mobile phone operator MTN Group

withdrew its lawsuit against Nigeria’s regulator over a $3.9

billion fine and paid $250 million towards a possible

settlement.

NIGERIA PETROLEUM

Nigeria is on the verge of another round of gasoline

shortages as the precipitous decline in oil prices leaves

one of Africa’s largest crude producers with fewer options

for importing fuel.

NAIROBI, Feb 25 (Reuters) – The following company announcements, scheduled economic

Indicators, debt and currency market moves and political events may affect African markets on Thursday.

KENYA – The central bank to auction 91-day Treasury bills

Worth 4 billion shillings.

 GLOBAL MARKETS

Asian shares slipped on Thursday as a fragile recovery in

Volatile crude oil unraveled, reviving anxiety about the

Health of the global economy, and Chinese shares

Skidded.

 WORLD OIL PRICES

Crude prices dipped on Thursday as strong U.S. gasoline

Demand failed to counter downward pressure from global

Over production that has left storage facilities swelling

with unsold oil.

 SOUTH AFRICA MARKETS

South Africa’s rand slipped sharply after Finance Minister

Pravin Gordhan cut his 2016 growth forecast on Wednesday to

0.9 percent, down from a previous forecast of 1.7 percent,

Citing a recent drought.

 NIGERIA MARKETS

Nigeria’s naira firmed sharply on the parallel market on

Wednesday as retail traders, having anticipated a cut in its

Official rate and stocked up on dollars, bought the local

Currency back after the government said it would not

Devalue.

Also, Nigeria plans to raise 329.93 billion naira in

Treasury bills with maturities range between 3-month and

1-year at an auction on March 2, the central bank said on

Wednesday.

NIGERIA TELECOMS

South African mobile phone operator MTN Group

Withdrew its lawsuit against Nigeria’s regulator over a $3.9

Billion fine and paid $250 million towards a possible

Settlement.

NIGERIA PETROLEUM

Nigeria is on the verge of another round of gasoline

Shortages as the precipitous decline in oil prices leaves

One of Africa’s largest crude producers with fewer options

For importing fuel.

KENYA MARKETS

Kenya’s shilling was steady on Wednesday and traders

said they expected it to firm slightly in coming days,

helped by dollar inflows from tea exports.

KENYA BONDS

The weighted average yield of accepted bids for Kenya’s

Five-year Treasury bond            was 13.947 percent at

Auction on Wednesday, compared with 13.920 percent at the

Previous auction on Nov. 30, the central bank

Said.

MAURITIUS TRADE

Mauritius’ trade deficit narrowed 21 percent to 7.24 billion

Rupees ($204.23 million) in December from a year earlier due

to lower imports of machinery and transport equipment, the

statistics office said on Wednesday.

SOUTH SUDAN UNREST

Troops allied with South Sudan’s Riek Machar, the former

Rebel leader and rival to President Salva Kiir, will deploy

To the capital in March, a regional peace observer said,

Bolstering a fragile peace accord that ended two years of

Fighting.

GHANA ECONOMY

Ghana’s producer price inflation rose sharply to 16.3

percent in January from a revised figure of 11.0 percent the

month before, pushed up mainly by an increase in petroleum

prices, the statistics office said on Wednesday.

DEMOCRATIC REPUBLIC OF CONGO POLITICS

Six Congolese activists were sentenced on Wednesday to two

years in prison, after they were arrested last week as they

prepared for a general strike calling on President Joseph

Kabila to step down, their lawyer said.

MOZAMBIQUE NATURAL GAS

Eni said on Wednesday the Mozambique government had

approved the plan of development (POD) for the Italian oil

major’s Coral FLNG project, a key step towards a final

investment decision.

SOURCE:Reuters