African Markets - Factors to watch on September 28

By Reuters News

NAIROBI, Sept 28 (Reuters) - 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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GLOBAL MARKETS

Share markets were mostly lower on Monday as oil prices popped higher again amid doubts the United States and Iran will reach a truce anytime soon, keeping bonds under pressure ahead of a week packed with economic news.MKTS/GLOB


WORLD OIL PRICES

Oil prices rebounded more than 1% on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz, keeping tensions in the Middle East elevated.

O/R


AFRICA STOCKS

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SOUTH AFRICA MARKETS

The South African rand softened in early trade on Friday as markets digested the central bank's interest rate hike, while growing expectations that the Federal Reserve will keep interest rates elevated weighed on the risk-sensitive currency.


NIGERIA PETROLEUM

Nigeria's state oil firm NNPC Ltd said on Friday that a proposed $800 million offshore natural gas project by local producer Amni International and TotalEnergies had reached a final investment decision, marking one of the biggest recent investments in Nigeria's upstream gas sector.


MALI BARRICK MINING

Canada's Barrick Mining ABX.TO has signed a new collective bargaining agreement with unions representing workers at its Loulo-Gounkoto gold mine in western Mali, a company spokesperson and a union official said on Sunday, easing the threat of a strike.


GHANA COCOA

Ghana, the world's second-largest cocoa producer, raised the farmgate price paid to cocoa farmers by 2.4% to 42,400 cedis ($3,686) per metric ton for the 2026/27 crop season, COCOBOD's CEO Ransford Abbey told a press briefing on Friday.


ETHIOPIA SECURITY

Internet and phone networks were disrupted in the northern Ethiopian region of Tigray on Friday, as Ethiopia's military said it had inflicted major losses on Tigrayan forces in the most serious escalation of violence since a 2020-2022 war.

QATAR AIRWAYS RWANDAIR

Qatar Airways has retired its last Airbus A330 passenger jets and seconded some pilots to Rwanda's flag carrier as the prolonged Iran war disrupts Gulf aviation and accelerates the global phase-out of older jets, according to two people with knowledge of the matter and data reviewed by Reuters.


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