African Markets: What to Watch on April 11 as Global Recession Fears and Oil Price Drops Rattle Investors

Markets across Africa are bracing for a turbulent Friday, April 11, as global financial shocks, commodity pressures, and political developments weigh on investor sentiment.

Global Markets in Turmoil

Global equity markets slumped sharply on Friday, deepening a week-long selloff fueled by escalating tariff tensions between the United States and several trading partners. Investor fears of a deep global recession intensified as U.S. assets came under heavy pressure. The dollar also slid, compounding uncertainty in emerging markets.

Oil Prices Dip on Trade Tensions

Oil prices extended losses and are set to end the week down for the second time, as investors grow more concerned that the ongoing U.S.-China trade dispute could curb global demand. Brent and WTI crude benchmarks are trading lower amid signs that slower economic activity could weigh heavily on fuel consumption in the months ahead.

African Market Snapshots

South Africa: Rand Wobbles, Stocks Jump

The South African rand weakened on Thursday amid global risk-off sentiment. However, the local equities market surged after U.S. President Donald Trump announced a 90-day pause on tariffs for several countries, offering a temporary boost to investor confidence.

Nigeria & Ghana: Currencies Steady

The Nigerian naira and Ghanaian cedi are expected to hold stable into next week, thanks to consistent central bank interventions and modest foreign exchange inflows, traders noted.

Uganda & Zambia: Downside Risk for Currencies

The Ugandan shilling and Zambian kwacha may face continued downward pressure as local demand for dollars grows amid sluggish export earnings and external investor caution.

Kenya: Shilling Strengthens

The Kenyan shilling gained ground against the U.S. dollar on Thursday following Trump’s surprise tariff suspension. The move eased fears of further market tightening and supported the local currency.

Geopolitical Flashpoints

Sudan: UAE Accused at World Court

Sudan has taken the United Arab Emirates to the International Court of Justice, accusing it of violating the Genocide Convention by supporting armed paramilitary groups in Darfur. The UAE has dismissed the case, arguing that the court lacks jurisdiction.

U.S. Aid Shift: Food Programme Affected

The U.S. government is pressing for adjustments to its aid support via the U.N. World Food Programme in six African nations. This comes after Washington temporarily suspended assistance, only to reinstate it under new conditions, a State Department spokesperson said.

Tanzania: Opposition Leader Charged with Treason

In a significant political development, Tanzanian opposition figure Tundu Lissu was charged with treason on Thursday. The charges stem from public comments last week that authorities say encouraged rebellion ahead of elections later this year.

What to Watch Ahead

As African markets absorb the fallout from global trade friction, oil volatility, and regional political shifts, traders will be closely monitoring central bank responses, currency pressures, and evolving diplomatic tensions. With volatility on the rise, investors are urged to remain cautious in the near term.

{Source: CNBC}

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