African Markets – Factors to watch on March 24




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NAIROBI - The following company
announcements, scheduled economic indicators, debt and currency
 moves and political events may affect African markets on
.
    - - - - -
 EVENTS:
 * NIGERIA - Nigeria's central bank has been holding its
 second monetary policy committee meeting for 2015 on March 23
 and 24, with its decision announced on March 24.
 *  AFRICA - The central bank releases business cycle
 indicators every month, to gauge the economic outlook. 
 * SOUTH AFRICA - South Africa's Treasury auctions 2.35
 billion rand ($197 million) worth  its 2031, 2037 and 2048
 bonds at a weekly sale to primary dealers.          
                    
 * IVORY COAST - The International Cocoa Organisation and
 subsidiary bodies, including the Consultative Board on the
 World Cocoa Economy, as well as the Economics and
 Administration and Finance Committees, meets in Abidjan.
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 GLOBAL MARKETS
 An index of Asian shares erased its early gains on Tuesday
 after a measure of Chinese factory activity unexpectedly
 skidded to an 11-month low.            
 
 WORLD OIL PRICES
 Oil prices dropped on Tuesday after activity in
 China's factory sector fell to an 11-month low and as Saudi
 Arabia said its production was close to an all-time high.
      
 
 EMERGING MARKETS
 For the top emerging markets news, double click on           
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 * South Africa's rand climbed to its strongest level
 in two weeks against U.S. dollar on Monday, tracking a
 buoyant euro and breaking through a key psychological
 technical resistance point.                       
 * South African share prices eased slightly on
 Monday with heavy hitters such as MTN Group trading
 ex-dividend and despite higher copper prices boosting
 producers of the metal.                 
 
 SOUTH AFRICA RATES
 South Africa's Reserve Bank is likely to wait until the
 fourth quarter before raising interest rates,a
 Reuters poll shows, meaning no change at a policy meeting
 this Thursday.                
 
 KENYA MARKETS  
 Kenya's shilling was stable on Monday, supported by
 offshore investors preparing to participate in this week's
 government bond sale, while stocks closed lower         .
                       
 
 NIGERIA ELECTION
 Uncertainty about the outcome of this weekend's presidential
 election will prompt Nigeria's central bank to keep interest
 rates on hold at a meeting on Tuesday, but a
 rise is likely in the second quarter, a Reuters poll found on
 Monday.                         
 
 NIGERIA RESERVES
 Nigeria's foreign  reserves fell to
 $30.01 billion by March 20, down 6.7 percent from $32.17
 billion a month earlier, data from the central bank showed on
 Monday.                
 
 MAURITIUS BUDGET
 The Mauritius economy will grow rapidly in the coming fiscal
 year, but the budget deficit will also widen as the 
 government invests heavily to try to ratchet up output, the
 finance minister said on Monday.                
 
 IVORY COAST COCOA
 Rains fell across most of Ivory Coast's main cocoa growing
 regions last week as the world's top producer emerged from a
 particularly harsh dry season that farmers said on Monday
 would delay the start for the April-to-September mid-crop
 harvest.                
 

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 IVORY COAST GOLD
 Ivory Coast launched an operation on Monday to shut down
 hundreds of illegal gold mining sites blamed for violence,
 unregulated immigration and environmental destruction, the
 defence and mining ministers said.                
 
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(Reuters)