AFRICA WEEK AHEAD: African Union Leaders Meet, Nigerian Rate
African heads of state meet at the annual African Union summit in Addis Ababa, Ethiopia’s capital, from Jan. 29. The meeting has a theme of boosting intra-Africa trade and will include statements from AU chairman Teodoro Obiang Nguema Mbasogo, the current president of Equatorial Guinea, and United Nations Secretary-General Ban Ki-Moon, according to the agenda.
South African Home Affairs Minister Nkosazana Dlamini-Zuma is seeking to depose AU Commission Chairman Jean Ping in a vote during the two-day meeting.
Nigeria’s central bank announces its decision on whether to adjust its key interest rate on Jan. 31 in Abuja, the capital. The rate, which was left unchanged at a record-high 12 percent on Nov. 21, may be held “for a bit” as increases in fuel prices add pressure to inflation, central bank Governor Lamido Sanusi said Jan. 16.
Central banks in Kenya and Uganda will also meet to decide on lending rates on Feb. 1. Kenya held its key rate at 18 percent on Jan. 11 and Uganda’s rate was maintained at 23 percent on Jan. 3.
WHAT TO WATCH:
* Kenya Releases January inflation figures on Jan. 30 in
Nairobi, the capital.
* Omobola Johnson, the Nigerian minister of technology and
communications, addresses a conference in Lagos, the commercial
capital, at 10 a.m. on Jan. 30.
* Nigeria’s central bank holds foreign-currency auctions on Jan.
30 and Feb. 1.
* Uganda’s coffee board announces weekly prices for arabica
beans on Jan. 31.
* Nigeria holds its weekly Cabinet meeting on Feb. 1.
* Botswana’s finance minister, Kenneth Matambo, gives the
southern African nation’s budget speech for 2012-13 on Feb. 1.
* Mauritania’s government may announce the weekly awarding of
mining licenses in Nouakchott on Feb. 2.
* Guinea’s central bank sells foreign currency to domestic banks
on Feb. 2 in Conakry, the capital.
BOND AND TREASURY-BILL SALES
* Mauritius will offer 200 million rupees ($6.8 million) of 182-
day Treasury bills on Jan. 30.
* Botswana will sell 14-day bills on Jan. 31.
* Mauritania will offer 5 billion ouguiya ($17 million) of 4-,
13-, 26-, 50- and 90-week Treasury bills at an auction Jan. 31.
* Gambia offers 190 million dalasi ($6.2 million) of 3-, 6- and
12-month Treasury bills and 91-day sukuk on Feb. 1.
* Uganda will offer 95 billion shillings ($40.5 million) of 2017
bonds on Feb. 1.
* Swaziland plans to sell 91-, 182-, 273- and 364-day securities
on Feb. 1 and 28-day and 56-day notes on Feb. 2.
* Namibia will offer 182-day bills on Feb. 1 and 90-day and 364-
day notes on Feb. 2.
* Zambia plans to offer 91-, 182-, 273- and 364-day paper on
Feb. 2.
* Rwanda will sell 28-, 91-, 182- and 364-day notes on Feb. 2.
* Seychelles will offer 91-, 182- and 365-day notes on Feb. 3.
* Ghana will offer 91-day and 182-day bills on Feb. 3 and 1-year
and 2-year notes the same day.
MARKETS:
* Ghana’s cedi gained for a third day, rising 0.2 percent to
1.6830 per dollar by 10:29 a.m. in Accra, for a weekly increase
of 1.3 percent. Kenya’s shilling strengthened 0.2 percent to
84.90 in Nairobi, bringing its weekly gain to 1.3 percent.
Uganda’s shilling climbed 0.9 percent to 2,345 per dollar in
Kampala for a 2.1 percent boost during the week. The Mauritian
rupee strengthened 0.7 percent to 29.25 in Port Louis, marking a
five-day advance of 0.7 percent. Tanzania’s shilling was
unchanged at 1,598 in Dar es Salaam for a weekly loss of 0.8
percent, while the Zambian kwacha weakened 0.5 percent to 5,128,
paring its five-day gain to 0.2 percent in Lusaka.
* Nigeria’s All-Share Index rose 0.4 percent to 20,877.47 by
11:34 a.m. in Lagos, the commercial capital, easing its weekly
decline to 0.3 percent. Kenya’s Nairobi Stock Exchange All Share
Index fell 0.2 percent to 53.67, bringing its five-day loss to
1.8 percent. Mauritius’s SEMDEX Index slipped less than 0.1
percent to 1,835.39 in Port Louis and dropped 0.9 percent over
the five days. The Ghana Stock Exchange Composite Index fell 2.1
percent to 953.83 951.37, expanding its one-week loss to 2.4
percent, while Ivory Coast’s BRVM Composite Index rose 0.8
percent to 140.43 late yesterday, bringing its four-day decline
to 1.2 percent.
To contact the reporter on this story: Emily Bowers in Accra at ebowers1@bloomberg.net
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net
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