May 23 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

Asian shares made some tentative gains on Friday as beaten-down Treasuries found buyers after U.S. President Donald Trump’s tax bill narrowly passed the lower house, although debt worries still lingered.

Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible OPEC+ output hike in July.

South Africa’s rand was steady for most of Thursday’s trading session, as markets tried to digest U.S. President Donald Trump’s Oval Office ambush of South African leader Cyril Ramaphosa, which overshadowed the country’s budget presentation.

Kenya’s shilling was stable against the dollar on Thursday, with foreign exchange supply and demand well-matched, traders said.

The Ghanaian and Ugandan currencies are expected to strengthen in the next week to Thursday, while Nigeria’s could be stable and Kenya’s and Zambia’s may fall, traders said.

The United States will impose sanctions on Sudan after determining its government used chemical weapons in 2024 during the army’s conflict with the paramilitary Rapid Support Forces, the State Department said on Thursday.

Britain signed a deal on Thursday to cede sovereignty of the Chagos Islands to Mauritius, after a London judge overturned a last-minute injunction and cleared the way for an agreement the government says is vital to protect the nation’s security.

Nigeria’s ruling All Progressives Congress (APC) party on Thursday endorsed President Bola Tinubu to run for a second and final term at the next election, due in early 2027.

Tanzania has released a Kenyan activist who had been arrested after he tried to attend a hearing in the treason case against a detained opposition leader in Dar es Salaam, Kenyan authorities said on Thursday.

Tropical forests in eastern Congo that fell into rebel hands this year have seen a spike in illegal logging to produce charcoal and timber, residents and environmentalists said, raising fears of large-scale degradation.

((Compiled by Nairobi Newsroom))