African business agenda – 6-9 June

Monday June 6

  • African Development Bank releases latest African Economic Outlook (0800 GMT)
  • Zimbabwe Electoral Commission due to hold press conference that may shed light on whether elections can and will be held this year, as President Robert Mugabe’s ZANU-PF party wants.

Tuesday June 7

  • South Africa May reserves data. Net gold and fx reserves rose to $46.039 billion at the end of April (0600 GTM)
  • Reuters releases June poll for South Africa’s rand. The currency looks likely to weaken against the dollar in the short term and could fall by 8 percent over the next 12 months. (1220 GMT)

Wednesday June 8

  • Kenya, Uganda and Tanzania announce 2011/12 budgets. Borrowing costs are soaring across east Africa in line with sharply rising inflation, which is also putting a dampener on growth prospects.
  • South Africa Business confidence index. The SACCI survey fell to 86.9 points in April (0930 GMT)
  • Zambia hosts annual African Growth and Opportunity Act (AGOA) Forum, attended by U.S. Secretary of State Hillary Clinton (to June 10)

Thursday June 9

  • Reuters releases May Econometer survey of South African economy. Inflation is likely to continue to edge higher this year, causing the central bank to raise interest rates by the end of this year (0930 GMT)
  • South Africa April manufacturing output data. Growth in factory output slowed to 4.6 percent year-on-year in volume terms in March. (1100 GMT)
  • African Development Bank annual meeting starts in Portugal, with a focus on North Africa.

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