African currencies week ahead: Zambia, Uganda currencies seen up, Kenya's shilling stable

The currencies of Zambia and Uganda are likely to firm in the coming week while Kenya's is expected to remain stable.
ZAMBIA - The kwacha will likely hold firm next week due to increasing dollar sales by companies preparing to settle month-end obligations in the local currency.
At 1048 GMT on Thursday, commercial banks quoted the currency of Africa's second-largest copper producer at 11.8500 per dollar, almost the same as last week's close of 11.9000.
"It is inclined to gain with low demand for dollars and rising supply," independent financial analyst Maambo Hamaundu said.
UGANDA - The Ugandan shilling is seen trading toward the stronger side in the coming days on the back of hard currency inflows from commodity exporters and charities.
At 0953 GMT commercial banks quoted the shilling at 3,712/3,722, stronger than last Thursday's close of 3,733/3,743.
"I expect the overall tone to be biased toward firming because inflows are quite healthy while on the demand side we are not seeing much interest," said Robert Mpuuga, head of treasury at Bank of Africa.
KENYA - The Kenyan shilling is seen stable in the coming week due to tightening liquidity in the local money market and inflows from portfolio investors buying government debt matching increased demand from merchandise importers ahead of the holiday season, traders said.
Commercial banks quoted the shilling at 102.35/55 per dollar, compared with 103.30/50 at last Thursday's close.
"Players are unwinding their long dollar positions to fund their money market position ... it's anticipated there might be a tap sale on the bond," said a senior trader from one commercial bank.