Several economic indicators, company announcements, debt and currency market developments, and political events are expected to influence African markets on Thursday, with movements already being seen across global markets, commodity prices, and local currencies.
Globally, the U.S. dollar came under pressure as traders increased bets that the U.S. Federal Reserve will resume cutting interest rates as early as next month. This speculation has fueled investor appetite for alternative assets, pushing Bitcoin to a record high. However, after days of strong gains, stock markets in several regions slowed down as investors took a breather. Analysts say that the weakening dollar could support commodity prices and offer relief to emerging market currencies, including those in Africa.
In the oil market, prices edged higher on Thursday after falling sharply in the previous session. Traders are closely watching an upcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin, which has raised concerns over possible geopolitical tensions that could affect oil supply and demand. Higher oil prices could benefit major African oil producers like Nigeria and Angola, although rising prices may also lead to increased fuel costs for oil-importing countries.
In South Africa, the rand extended its gains against the U.S. dollar on Wednesday, benefiting from the greenback’s weakness and positive local economic data. The latest business confidence index and retail sales figures showed signs of resilience in Africa’s most industrialised economy. The stronger rand could help reduce import costs, although economists warn that continued currency strength will depend on both global market trends and domestic economic performance.
In the Democratic Republic of Congo (DRC), mining operations remain under tense conditions. Around the mining town of Rubaya, men in rubber boots were seen carrying sacks of crushed rock under the watch of M23 rebels in the surrounding hills. The DRC is a major global supplier of minerals such as coltan and cobalt, which are key components in batteries and electronics. However, ongoing insecurity in mining regions continues to pose risks to production, investment, and supply chains.
In Nigeria, Dangote Refinery announced on Wednesday that it has reduced fuel prices to ₦820 per litre (about $0.54). This price cut comes just days before the refinery is expected to begin supplying fuel directly into the local market. The move could intensify competition with existing fuel traders and may influence retail pump prices across the country. Industry analysts believe this could also affect Nigeria’s fuel import needs, potentially saving foreign exchange if the refinery’s output meets a significant portion of local demand.
In Kenya, the Central Bank Governor stated on Wednesday that the country will request its next International Monetary Fund (IMF) programme to be a funded one. The announcement comes ahead of an IMF delegation’s visit next month to discuss the new programme. A funded IMF arrangement could help Kenya access additional financial support to manage its debt obligations and strengthen foreign reserves. However, such a programme often comes with fiscal policy conditions, which may require budget adjustments and reforms.
Market watchers say Thursday’s trading will likely be influenced by a mix of global and domestic factors — from U.S. monetary policy expectations and oil price movements to local political and economic developments in key African economies. Investors are expected to pay close attention to official announcements, currency performance, commodity prices, and any new policy signals that could affect market sentiment.
