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AFRICA WEEK AHEAD: African Union Leaders Meet, Nigerian Rate – posted by www.equatorialguineaonline.com – January 27th, 2012

posted by www.equatorialguineaonline.com – January 27th, 2012

African heads of state meet at the annual African Union summit in Addis Ababa, Ethiopia’s capital, from Jan. 29. The meeting has a theme of boosting intra-Africa trade and will include statements from AU chairman Teodoro Obiang Nguema Mbasogo, the current president of Equatorial Guinea, and United Nations Secretary-General Ban Ki-Moon, according to the agenda.

South African Home Affairs Minister Nkosazana Dlamini-Zuma is seeking to depose AU Commission Chairman Jean Ping in a vote during the two-day meeting.

Nigeria’s central bank announces its decision on whether to adjust its key interest rate on Jan. 31 in Abuja, the capital. The rate, which was left unchanged at a record-high 12 percent on Nov. 21, may be held “for a bit” as increases in fuel prices add pressure to inflation, central bank Governor Lamido Sanusi said Jan. 16.

Central banks in Kenya and Uganda will also meet to decide on lending rates on Feb. 1. Kenya held its key rate at 18 percent on Jan. 11 and Uganda’s rate was maintained at 23 percent on Jan. 3.

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