ACCRA - Ghana's currency is expected to weaken further against the dollar in the next week to Thursday, while Uganda's may strengthen and those of Nigeria, Kenya and Zambia ‍are likely to be ‍little changed, traders said.

GHANA

Ghana's cedi could slip on strong corporate dollar demand, mostly from businesses seeking foreign currency ​for imports.

LSEG data showed the cedi trading at 10.85 to the U.S. currency from 10.78 a week ago.

"We expect the (cedi) currency to extend ⁠its losses against the dollar next week, weighed down by persistent demand from the energy, construction and commerce sectors," one trader said.

"Judging by ⁠recent trends, ‌upcoming central bank auctions will likely meet only a fraction of the outstanding demand," the trader added.

Another trader said the central bank would need to offer more dollars at its auctions to clear a backlog of ⁠demand on the interbank market.

UGANDA

Uganda's shilling may gain as foreign-currency demand remains subdued in the wake of last week's election, with many businesses holding off from imports because of lingering fears of post-election violence.

Commercial banks quoted the shilling at 3,475/3,485 to the dollar, compared to Monday's close of 3,470/3,480.

Markets were closed on Thursday and Friday last week because of the election.

President Yoweri ⁠Museveni was declared winner, extending his four ​decades in power, but his main opponent Bobi Wine has rejected the results and is in hiding. There are differing accounts of post-election clashes between security ‍forces and opposition supporters.

"Business activity has not fully recovered, and it will take some time because fears of post-election violence have not gone away," a trader said, adding ​the shilling could trade in a range of 3,400-3,480 to the dollar in the coming days.

NIGERIA

Nigeria's naira is seen range-bound next week, supported by central bank dollar sales, portfolio inflows and diaspora remittances.

The naira was quoted at 1,419 to the dollar on the official market on Thursday, compared with 1,422 a week earlier.

The currency was changing hands at 1,480 to the dollar in street trading.

"We expect the naira to trade within a narrow range of 1,415 to 1,435 per dollar next week, mainly because forex supply has picked up thanks to ... remittances and portfolio inflows," a trader said.

KENYA

Kenya's shilling is expected to extend its long-running stable trend.

Commercial banks quoted the currency of East Africa's largest economy at 128.95/129.05 per dollar, the same level as at last Thursday's close.

"We expect the ⁠shilling to remain as it is around 129," a trader said.

ZAMBIA

Zambia's kwacha is forecast ‌to be little changed, with analysts saying a positive economic outlook and buoyant copper prices should counteract hard-currency demand from companies resuming operations after the December holidays.

Commercial banks quoted the kwacha at 20.53 per dollar from 20.05 a week ago.

"Beyond the latest weakness, ‌the kwacha's outlook ⁠remains broadly constructive amid the government's de-dollarisation policies, favourable copper prices, progress on debt restructuring and optimistic growth forecasts," Access Bank said in a note.