African markets round-up

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Annual inflation in Sudan eased slightly to 20,7% in September from 21,1% in August but remained very high as prices of fish, cooking oil and other basic food items rose, adding pressure on ordinary Sudanese hit by an economic crisis.

Analysts say food inflation could stoke dissent among people already hit hard by unemployment, a devalued local currency, a lack of foreign currency and US trade sanctions.

Month-on-month inflation decelerated sharply to 0,4% in September, the Central Bureau of Statistics said in a statement on Tuesday, from 3,7% in August.

Namibia markets

Namibia’s consumer inflation slowed to 5,3% year-on-year in September from 5,4% in August, the Central Bureau of Statistics said on Tuesday.

On a month-on-month basis, prices fell by 0,04% in September after a 0,4 percent increase in August, the statistics agency said in a statement.

Nigeria markets

Nigeria’s central bank raised interest rates far further than analysts expected on Monday, in the clearest sign yet of its commitment to support the local naira currency and keep a lid on inflation.

Kenya markets

Kenya’s shilling extended its slide to a new record traded low of 106,20 per dollar yesterday , pushed lower by heavy demand for greenbacks from importers and banks covering their short positions amid uncertainty which direction the shilling would take, traders said.

At 0948 GMT, commercial banks quoted the shilling 106,10/30 compared with Monday’s close of 103,50/104,00.

Djibouti port

Djibouti plans to spend $330 million on expanding its port, an exercise that is expected to be complete by 2014 and to increase the cargo throughput, its port authority said. Djibouti’s port, run by Dubai’s DP World, is the lifeblood of its economy.