Market Commentary

Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States.

Brent crude futures rose 66 cents, or 0.8%, to $82.87 per barrel by 0715 GMT. West Texas Intermediate crude futures (WTI) rose 62 cents, or 0.8%, to $76.01.

GHANA: The German government says it is willing to assist Ghana push through its proposal with its external creditors, especially with China. The European country is also willing to take its share of responsibility as one of the major bilateral creditors to Ghana.

NIGERIA: Banks have issued notice to their customers that they would be closing earlier than their usual 4:00pm closing time a day ahead of the presidential polls nationwide on Saturday. Meanwhile, the continued scarcity of the naira has increased the hardship of many bank customers who are now forced to join long queues to withdraw N5,000 over-the-counter.

KENYA: Kenya’s National Treasury intends to issue syndicated bonds in local currency in the financial year 2023/2024 as it explores new ways to raise money to finance the country’s 3.6 trillion shillings (about 28.56 billion U.S. dollars) budget