By Ukumbi Afrika 
August 17, 2026
Global Markets
Asian shares moved largely sideways on Monday as investors remained cautious over oil prices. Crude posted strong gains last week amid the lack of progress toward ending the Iran conflict, keeping concerns over inflation and global interest rates elevated.
World Oil Prices
Oil prices rose on Monday as expectations of a near-term U.S.-Iran peace breakthrough faded. Slower tanker traffic through the Strait of Hormuz also reinforced concerns over potential supply disruptions and geopolitical risk.
South Africa Markets
The rand was little changed on Friday. Easing U.S. inflation increased expectations that the Federal Reserve could keep interest rates unchanged, while continuing Middle East tensions provided support for the U.S. dollar.
Zambia Politics
President Hakainde Hichilema held a strong lead in Zambia's national election count on Sunday, with nearly half of constituencies declared by the electoral commission. The election outcome remains closely watched by investors because of its implications for Zambia's economic policy, mining sector and IMF-backed reforms.
Republic Of Congo
Fitch Ratings upgraded the Republic of Congo's long-term local-currency rating to CCC+ from CCC, while affirming its foreign-currency rating. Fitch cited improved regional financing conditions and a smoother debt repayment profile.
Kenya Bonds
Kenya is considering issuing its first panda bond on China's domestic debt market as the government seeks additional financing to address a significant budget funding gap.
Kenya Budget
Kenya's budget deficit is projected to increase slightly to 5.7% of GDP in 2027/28, from 5.5% in 2026/27, according to the Finance Ministry. The wider deficit highlights continued pressure on government finances and borrowing needs.
Nigeria Dangote Refinery
Dangote Petroleum Refinery is planning an October initial public offering that could become Africa's largest IPO. Chief Executive Devakumar Edwin told Reuters the listing is intended to give Nigerians an opportunity to participate in the company's growth, while a foreign listing is not expected for at least three years.
African markets enter the week against a backdrop of higher oil prices, geopolitical uncertainty, changing global interest-rate expectations and continued government financing pressures. Investors will be watching developments in Zambia, Kenya, Nigeria and the Republic of Congo alongside movements in global oil and currency markets.
Source: Reuters