Monthly Archives: October 2020

macroafricaintel Daily Brief | 27 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• US stock market braces for rocky week ahead of contentious US election
• China’s industrial profit growth slows as factory-gate deflation weighs
• Oil steadies, but outlook gloomy as coronaviru cases, supply grow
• Brent up 0.5% at $40.65, WTI up 0.4% at $38.71 (0324GMT)
• Gold ticks up on softer dollar, coronavirus woes
• Spot gold up 0.3% at $1,907.77/oz., futures up 0.2% at $1,909.20/oz.
(0116GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• AU-backed Ethiopia GERD negotiations resume; after Trump bombing remark
• Nigeria’s Lagos judicial inquiry into police brutality begins proceedings
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• South Africa’s finmin Mboweni delivers medium term budget policy
statement (28 Oct)
• Tanzania holds general elections (28 Oct)
• US Prosper Africa digital press briefing (29 Oct)
• Ivory Coast holds general elections (31 Oct)
• South Africa consumer inflation Sep-20 [fcst. 3.2% yy, prev. 3.1%] (28 Oct)
• South Africa M3 Sep-20 [fcst. 11.8% yy, prev. 10.9%] (29 Oct)
• South Africa PSCE Sep-20 [fcst. 4.2% yy, prev. 3.9%] (29 Oct)
• South Africa producer inflation Sep-20 [fcst. 2.4% yy, prev. 2.4%] (29 Oct)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Seventh child dies as Cameroon reels from shooting attack on school
• Judicial panel into shooting, police brutality convenes in Nigeria’s Lagos
• Rwanda genocide suspect in detention in The Hague
• Climate change poses growing threats to vulnerable Africa, UN says
• Morocco condemns publication of Prophet Mohammad cartoons: statement
• Mali & France at odds over talks with militants
• Three-way talks on Blue Nile dam dispute to resume Tuesday
• Seychelles opposition wins presidency for first time in 43 years
• Tanzania’s ‘Bulldozer’ president hopes mega-projects impress voters
• Africa money transfer firms thrive as pandemic spurs online remittances
• France’s Orange says Guinea network suffered cuts without prior warning

Bloomberg
• Ghana misses out on Africa bond rally due to election concerns
• How the virus worsened South Africa’s debt woes
• Kenya president, deputy spar over plan to bridge ethnic divides
• Risks abound for emerging markets in final week before US vote
• Contract discrepancies forced South Africa’s Eskom to delay release of results
• South Africa may give more funds to state arms company & govt lender
• Liquid Telecom raises $307 mln in Africa data centre push
• South Africa stocks fall as virus cases surge & US stimulus deal elusive
• Talks on Ethiopia’s mega-dam resume after Trump weighs in
• Libya reopens the last of its oil fields with El Feel to restart

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 26 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Asian shares subdued as S&P slips, virus surges
• Oil falls as Covid-19 case surge stokes demand concerns
• Brent & WTI down 1.7% at $41.07 & $39.16 respectively (0353GMT)
• Gold hits over 1-wk low as dollar gains ground
• Spot gold down 0.1% at $1,898.28/oz., futures down 0.3% at
$1,899.30/oz. (0347GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria businesses open in Lagos, after order restored & easing of curfew
• ECOWAS & AU delegation in Guinea over post-election violence
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• South Africa’s finmin Mboweni delivers medium term budget policy
statement (28 Oct)
• Tanzania holds general elections (28 Oct)
• US Prosper Africa digital press briefing (29 Oct)
• Ivory Coast holds general elections (31 Oct)
• South Africa consumer inflation Sep-20 [fcst. 3.2% yy, prev. 3.1%] (28 Oct)
• South Africa M3 Sep-20 [fcst. 11.8% yy, prev. 10.9%] (29 Oct)
• South Africa PSCE Sep-20 [fcst. 4.2% yy, prev. 3.9%] (29 Oct)
• South Africa producer inflation Sep-20 [fcst. 2.4% yy, prev. 2.4%] (29 Oct)
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• Seventh child dies as Cameroon reels from shooting attack on school
• Russia sends more military equipment to CAR: RIA
• Guinea’s Conde wins presidency with 59.5% of vote: election commission
• Militants from Mozambique staged deadly attack in Tanzania, police say
• Tanzania: Zanzibar opposition campaign manager says he was
threatened by armed men
• Seychelles opposition wins presidency for first time in 43 years
• Embattled South Africa chief resigns along with four board members
• Gunmen storm school in Cameroon, killing at least six children
• Nigeria anti-police protesters must enter dialogue, minister says
• Deal to normalise ties with Israel stirs opposition in Sudan
• Nigeria police mobilize to quell worst unrest in two decades
• Ethiopia summons US ambassador over Trump comments in dam dispute
• Israel envoys will travel to Sudan for normalisation deal, Netanyahu says
• Palestine President Abbas condemns Israel-Sudan ties
• Iran says US-brokered Sudan-Israel deal secured by ‘ransom’
• Egypt begins voting to elect new parliament
• Ethiopia says it will not cave to ‘aggression’ in dam dispute
• Mali says troops regain control of village besieged by militants
• Gunfire and barricades in Guinea as president heads for third term
• Egypt’s Sisi welcomes normalising of ties between Sudan and Israel – tweet
• Warring Libya rivals sign truce but tough political talks ahead
• Nigeria’s Ogu calls on players to boycott games amid unrest
• Burned-out buildings and armed gangs in Nigeria’s Lagos despite
president’s plea
• Rwanda court denies ‘Hotel Rwanda’ hero Rusesabagina bail, extends detention
• First Tripoli-Benghazi flight for a year follows Libya talks
• Guinea President Conde wins re-election in landslide: preliminary results
• Nigeria’s president urges end to protests but remains silent on
demonstration shooting
• Afreximbank ready to raise up to $5 bln for Covid-19 vaccines for
Africa: CDC head
• Pro-Sisi party set to lock in control as Egypt head to polls
• Refusing to wear a mask in Ethiopia could cost you 2 years in jail
• US urges restraint after shooting of protesters in Nigeria
• Mali’s ousted president returns home after treatment abroad
• Botswana approaches World Bank for budgetary support
• South Africa’s Click Group aims to sell Covid-19 vaccine once
country gets access
• South Afriac’s cabinet approves export tax on chrome ore
• S&P cuts Zambia credit rating to “selective default”

Bloomberg
• Nigeria protests over police killings draw warning from Buhari
• Wealth tax among Mboweni’s options to fund South Africa’s budget
• South Africa & Eskom: Africa’s only atomic plant bets $1.2 bln on a 2nd life
• Egypt’s biggest listed bank slumps after chairman steps down
• Seychelles elects Wavel Ramkalawan as new president
• Ivory Coast president blames challenger for Dabou killings
• UBS cuts ties with Ivory Coast clients, SonntagsZeitung reports
• Zimbabwe collects revenue over target in 3rd quarter
• Dana Gas agrees to $236 mln sale of Egypt assets to IPR
• Egypt debt attracts more foreigners as holdings double since May
• South Africa’s rail expansion plan links Soweto to Johannesburg
• Sixteen killed in Ivory Coast town ahead of presidential vote
• Police deployed to halt looting across Nigeria after protests
• Algeria president starts quarantine: Al Arabiya TV
• Guinea’s Conde secures 3rd term in vote marred by violence
• Ethiopia slams pressure after Trump remark about destroying dam
• Somalia lawmakers approve all members of nation’s new cabinet
• Libya oil output set for 1 mln barrels daily as ports reopen
• South Africa may ring-fence Transnet’s irregular spending: BD
• Ivory Coast exporters halt cocoa purchases over pricing dispute
• Nigeria eases curfew in Lagos after protests abate
• Trumps says Israel & Sudan reach peace accord, after UAE deal
• South Africa’s Transnet reports $617 mln of irregular spending
• Libya UN mission says warring sides agree to permanent truce
• Nigeria’s rising tensions aren’t yet touching vital oil industry
• Nigeria hire litigation firm Franklin Wyatt for Eni dispute
• South Africa business leaders urge ‘tough budget’ to trim fat
• Guinea govt deploys army to quell post-election protests
• Africa’s top insurer refocuses on home base after deal misfires
• Our lives matter, Nigeria protesters say over police killings
• Nigeria president urges end to protests, warns state will act
• Zimbabwe capital shutters main water plant on chemical shortage
• IMF names representative to Zambia in sign of thawing ties
• Africa to fall behind world growth as region faces slow recovery
• Eritrea president accused of crimes against humanity in Sweden
• Congo Republic plans to settle domestic debt ahead of 2021 vote
• Ivory Coast mulls talks between election rivals ahead of vote
• South Africa sounds alarm over resurgence in virus cases

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 23 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Asian stocks set for slight gains after Wall Street ends higher
• Oil steady as Russia holds out prospect of output cut extension
• Brent off 1 cent at $42.45, WTI down 2 cents at $40.62 (0040GMT)
• Gold eases as dollar firms; US election debate in focus
• Spot gold down 0.1% at $1,902.57/oz., futures little changed at
$1,904.80 (0110GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Easing of curfew in Nigeria’s Lagos expected
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Mali army liberates village besieged by militants: army statement
• Guinea President Conde wins re-election in landslide: preliminary results
• Guinea opposition candidate to contest election result in court: spokesman
• Kenya documentary spotlights activist torn between family and the struggle
• Six killed in Ivory Coast town ahead of presidential election
• Nigeria’s president urges end to protests but remains silent on
demonstration shooting
• Afreximbank ready to raise up to $5 bln for Covid-19 vaccines for
Africa: CDC head
• Pro-Sisi party set to lock in control as Egypt heads to polls
• Refusing to wear a mask in Ethiopia could cost you two years in jail
• US urges restraint after shooting of protesters in Nigeria
• Mali’s ousted president returns home after treatment abroad
• Botswana approaches World Bank for budgetary support
• South Africa’s Clicks Group aims to sell Covid-19 vaccine once
country gets access
• South Africa’s cabinet approves export on chrome ore
• S&P cuts Zambia credit rating to “selective default”
• Nigeria president appeals for calm after soldiers fire at protesters
• Guinea president retains election lead as protests turn deadly

Bloomberg
• Nigeria president urges end to protests, warns state will act
• Zimbabwe capital shutters main water plant on chemical shortage
• IMF names representative to Zambia in sign of thawing ties
• Africa to fall behind world growth as region faces slow recovery
• Eritrea president accused of crimes against humanity in Sweden
• Guinea’s President Conde leads vote count as tension rises
• Ivory Coast mulls talks between election rivals ahead of vote
• Congo Republic plans to settle domestic debt ahead of 2021 vote
• South Africa sounds alarm over resurgence in virus cases
• Anglo American’s mining output bounces back after lockdowns
• Sudan set to normalize ties with Israel, report says
• Nigeria protest death toll surges after authorities clamp down
• S&P cuts Zambia to default after eurobond payment missed

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 22 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Asian shares drop as US stimulus talks drag on
• MSCI Asia ex-Japan shares down 0.6%, Nikkei down 0.7%
• Australia shares up 0.6%, Chinese blue chips down 1.1%
• Oil slips on weaker demand outlook after US gasoline stocks build
• Brent down 0.5% at $41.52, WTI down 0.7% at $39.76 (0328GMT)
• Gold retreats as dollar gains, US stimulus hopes wane
• Spot gold down 0.6% at $1,913.45/oz., futures down 0.7% at $1,916 (0343GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• IMF SSA economic outlook briefing
• Bank of Uganda decides on interest rates [fcst. 7.0%, prev. 7.0%]
• Nigeria businesses in Lagos close, following week-long curfew order
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Nigeria soldiers fire at protesters, at least two hit: witnesses
• Fires burn in Lagos after Nigeria soldiers shoot anti-police protesters
• Guinea president retains election lead as protests turn deadly
• Congo leader boosts influence with new constitutional court judges
• ECOWAS urges Nigeria security forces to ‘exercise restraint’ in
handling protests: statement
• UK calls for an end to violence in Nigeria
• Rwanda genocide suspect Kabuga to be sent to Hague pending trial
• Nigeria’s Lagos governor says one dead after shooting
• Egypt upgrades visitor experience at Giza pyramids site
• Man Utd’s Ighalo slams Nigeria govt after soldiers fire at protesters
• Ex-Burundi president gets prison term for 1993 killing of victorious
election opponent
• ICC prosecutor says Bashir & other suspects must face justice over Darfur
• Anglo American’s South Africa unit faces class action over Zambia
lead poisoning
• Kenya documentary spotlights activist torn between family and the struggle
• Rise of Covid-19 resurgence in South Africa as cases rise in Cape Town
• UN acting Libya envoy ‘optimistic’ on ceasefire talks
• South Africa pays $3 bln in pandemic-related jobless claims since March
• Intensive care units in Tunisia state hospitals reach 80% of capacity
• Nigeria’s Lagos locked down after protests fired on, president urges calm
• Nigeria president appeals for calm after soldiers fire at protesters
• Guinea President Conde ahead of rivals in election
• Exclusive: Process to elect ICC war crimes prosecutor stalls amid US sanctions
• Nigeria’s battered farmers to get $20 mln to aid crop output

Bloomberg
• Zimbabwe’s measures to stabilize the country’s currency are finally paying off
• At least 56 people died in Nigeria in 2 weeks of protests against
police brutality
• The EU removes Canada, Tunisia and Georgia from its list of
countries whose residents are allowed to visit
• Mozambique seeks extradition of ex-Credit Suisse staff: Noticias
• Anglo American sued for lead poisoning in Zambia mining town
• Africa’s biggest fiber-network company opts for solar to cut power costs
• Kenya proposes prime minister post in overhaul of govt
• Protectionism in Africa raises concern over continent’s free trade deal
• Tullow jumps after Uganda approves $575 mln stake sale
• Libya rivals agree to extend truce as peace talks inch forward
• South Africa stocks miss out on stimulus rally as heavyweights fall
• South Africa cleans oil spill as Transnet fights pipeline theft
• Second-biggest Morocco bnak weighs stake sale in pivot to Asia
• Europe will back Nigeria’s WTO candidate: Brussels Edition
• US Trump is making Sudan’s comeback harder
• South Africa moves to soothe investor fears over land grabs

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 21 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Asian stocks set for modest gains as tech woes check stimulus hopes
• Oil down after US inventory build feeds oversupply fears
• Brent down 0.5% at $42.94, WTI down 0.7% at $41.47 (0035GMT)
• Gold prices gain on weaker dollar, stimulus hopes
• Spot gold up 0.3% at $1,912.11/oz., futures steady at $1,916.40/oz.

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Bank of Namibia decides interest rates [fcst. 3.5%, prev. 3.75%]
• Guinea presidential election provisional results expected
• Curfew & protest ban in Nigeria’s Lagos, after youth protests turn violent [Govt briefing on reported shootings by soldiers expected]
• Ghana AfCFTA conference; 20-21 Oct
• South Africa’s Mabuza responds to questions in parliament
• Ghana raises fuel prices
• IMF SSA economic outlook briefing (22 Oct)
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• At least 2 hit as soldiers fire on Nigerians protesting police
brutality in Lagos: witnesses
• Lagos imposes indefinite curfew to curb Nigeria protests, police
deploy anti-riot squad
• Guinea President Conde ahead of rivals in election
• Nigeria’s Lagos governor orders investigation into reports of
shooting: spokesman’s tweet
• ICC prosecutor says Bashir & other suspects must face justice over Darfur
• Netflix turns to telecoms tie-ups in challenging Africa markets
• South Africa trims high risk country list, but adds Germany
• Nigeria’s battered farmers to get $20 mln to aid crop output
• France activists say 100,000 hurt by Total’s Uganda oil operation
• Mali soldiers air drop provisions to village besieged by suspected militants
• Nigeria police chief orders immediate deployment of anti-riot police
unit, spokesman says
• Sudan strains surface as US pressure triggers debate on Israel
• Suspected militants free 1,300 prisoners from east Congo jail
• Nigeria’s Lagos imposes 24-hour curfew amid protests against police
• Botswana sees 7.7% growth in 2021 on diamond industry recovery
• Swelled by rain and Covid curbs, locust swarms ravage Ethiopia
• Zambia adjourns creditor meetings to defer eurobond payments
• South Africa investigates Covid-19 contracts for corruption
• Sudan has transferred compensation for US bombing victims: cenbank
• South Africa stock exchange fines Steinhoff for breaching listing requirements
• South Africa’s Pick n Pay ventures into difficult Nigeria market
• Guinea opposition candidate claims victory, violence erupts

Bloomberg
• The US & Europe are heading for a clash over their preferred
candidates to lead the WTO
• Former Burundi president gets life sentence for 1993 bloody coup
• Zambia debt-relief votes postponed with default clock ticking
• Nigeria pays oil majors $3 bln, moving closer to ending dues
• South Africa’s Sibanye weighed M&A deals before Gold’s rally boosted values
• Uganda plans to spend $53.6 mln on three roads in mineral-rich eastern DRC
• Losses mount from Nigeria police brutality protests
• Sudan to get funding after terror delisting, minister says
• South Africa stocks fall as Standard Bank update weighs on lenders

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 20 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
• Asian stocks dip as US political concerns grow
• MSCI Asia ex-Japan shares down 0.1%
• Australia & Japan shares down as well
• Nikkei slips 0.3%, Hang Seng up 0.2%
• Netflix & Tesla et al. earnings results awaited
• Spot gold down 0.2% at $1,901.16/oz., futures down 0.3% at
$1,905.20/oz. (0335GMT)
• Brent down 0.8% at $42.30, WTI down 0.6% at $40.57 (0418GMT)
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya Mashujaa Day [BBI constitutional reforms proposal expected to
be key highlights of Kenyatta speech in Kisii]
• Bank of Namibia decides interest rates [fcst. 3.5%, prev. 3.75%]
• Guinea presidential election vote-counting; provisional results
expected on Wednesday [Opposition already claiming victory]
• Nigeria youth protests over police brutality continue
• Corporate Council on Africa hosts US-Ethiopia investment dialogue
• Afreximbank hosts 4th Babacar Ndiaye lecture
• Re-opened Nigeria firms, which closed last week owing to protests,
may close again [Most workers & customers unable to commute, after
transport system held hostage by protesters]
• Nigeria army begin annual military exercises
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
Reuters
• Guinea opposition candidate claims victory, violence erupts
• Millenials get little satisfaction from democracy: Cambridge study
• Nigeria anti-police protesters must enter dialogue, minister says
• One killed as pre-election protests spread in Ivory Coast
• With Instagram, hashtags & bitcoin, young Nigerians boost anti-police protests
• Tunisia PM orders nationwide curfew over pandemic
• Ethiopia’s economy grew 6.1% in the 2019/20 fiscal year – prime minister
• Nigeria police pledge ICRC training as thousands protest nationwide
• Sudan’s premier backs demands for justice as ICC prosecutor visits
Bloomberg
• Trump removes Sudan from state of sponsor of terrorism list
• Guinea ex-premier claims election win before official results
• Zambia debt-relief vote sets tone for stormy restructuring
• Child labour worsened on West Africa cocoa farms, study shows
• Nigeria venture plans to raise $1.2 bln to plug power gap
• South Africa track record bodes ill for investment drive
• ADQ to back Lulu’s expansion in Egypt with $1 bln investment
N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 19 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Asian markets jump on vaccine, US aid hopes; gains capped by China data
• MSCI Asia ex-Japan shares up 0.6%
• China shares pare gains after Q3 GDP data misses forecasts; act.
4.9% yy v fcst. 5.2%
• Japan & Australia shares up 1.1%
• S&P 500 shares up 0.6% in Asia
• Spot gold a shade firmer at $1,900.8/oz.
• Brent & WTI slip 14 cents at $42.79 & $40.74 respectively

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria youth protests over police brutality continue
• Nigeria firms, which closed owing to protests, reopen
• Kenya BBI constitutional reforms proposal in focus; as key highlights emerge
• Newly formed Nigeria police tactical unit begin training
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekeend & early a.m today
Reuters
• Guinea votes on 3rd term for Conde amid voter-card concerns
• Nigeria police pledge ICRC training as thousands protest nationwide
• South Africa’s health minister tests positive for Covid-19
• Ivory Coast president’s supporters & opponents clash ahead of election
• Guinea military base attacked two days before presidential election
• Why are Nigerians protesting against police brutality?
• South Africa white farmers, black protesters face off over farm murder
• Foreign lawyers for ‘Hotel Rwanda’ hero say they have been denied
access to him
• ‘Dangerious rhetoric’ as Conde seeks 3rd presidential term in Guinea
• Uber launches medicines delivery service in South Africa
• Nigeria army plans nationwide exercise as protests rock country
• Zambia suspends output at copper processor after waste dam burst
• ICC delegation to visit Sudan to discuss case against Bashir
• Dreams dashed: Malawi migrants return empty-handed from South Africa
• South Africa’s coronavirus cases cross 700,000, says health ministry
• Silicon Valley payments firm Stripe buys Nigeria startup Paystack
• Zimbabwe expects inflation of 134% this year – finmin
• Dozen reported killed in clashes between Somalia govt, fighters
• New Africa-made films challenge Hollywood stereotypes
• Guinea officer killed on military base two days before presidential election
• South Africa puts public works, jobs at heart of Covid-19 recovery plan
• South Africa cannot sustain current levels of debt, Ramaphosa says
• Tanzania deploys helicopter to boost fight to douse Kilimanjaro fires
• Protesters march on Nigeria parliament after army threatens to step in
• Libya’s Tripoli govt says it holds UN-sanctioned alleged people smuggler

Bloomberg
• Next Africa: Zambia is focus of global debt crisis
• South Africa to allow municipalities to source their own power
• Bulls lose nerve in test of emerging markets’ October resilience
• Ex-dictator’s fate hangs in balance as ICC official visits Sudan
• A mass die-off of seals in Namibia has triggered an inquiry
• New currency notes gets 1 mln Ethiopians into banking system
• Guinea holds presidential vote amid tension over 3rd term bid
• Zambia heads to showdown with bondholders
• OPEC+ faces growing pressure to change course as ministers meet
• Russia, Saudi Arabia prepared to keep energy market stable
• Congo govt proposes $7.2 bln budget for 2021
• Tanzania opposition leader backs Lissu as presidential candidate
• Nigeria protests unwavering even as govt meets demand
• US agency to support 2,500MW nuclear project in South Africa
• Zimbabwe sees economy expanding in 2021 in waning virus impact
• South Africa to find $363 mln for covid grant in current budget
• Ivory Coast president snubs opposition’s call for talks before vote
• Copper firm ordered to halt operations after Zambia waste spill
• Ethiopia targets March to complete Max crash report
• Abu Dhabi wealth fund ADQ said to pursue Bausch’s Egypt unit
• Libya’s oil output reaches 500,000 barrels a day after truce
• Mauritius stocks lag most markets as virus clears beaches
• South Africa’s Momentum, Absa agree deal to fund share program for black staff
• South Sudan currency crisis sees shops close as prices surge

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 16 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Asian shares perk up on China gains, virus woes linger
• MSCI Asia ex-Japan shares & US stock futures in Asia up 0.3%
• China shares up 0.4%, Australia stocks flat
• Nikkei up 0.1%, South Korea shares down 0.3%
• Spot gold little changed at $1,908.40/oz.
• Brent down 0.6% at $42.90, WTI down 0.4% at $40.77

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria youth protests expected to subside, after authorities show
good faith [Law & order imperative may override solidarity sentiment
the longer the street protests persist]

• CSIS hosts 2nd annual Sahel summit
• Atlantic Council & DFC host Africa investment conference
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Libya’s Tripoli govt says it holds UN-sanctioned alleged peopole smuggler
• Nigeria’s army says it is ready to maintain order as police protests continue
• Ten migrant bodies washed up on Djibouti coast
• Uber launches medicines delivery service in South Africa
• Kenya couple set off to motorbike around the world – but run into Covid
• World Bank to propose $25 bln in extra funding for poorest countries
• At least 16 artisanal miners down in flooded mining field in Mozambique
• “Dangerous rhetoric” as Conde seeks third presidential term in Guinea
• Uganda presidential hopeful Bobi Wine says security forces raid his office
• Thousands of dead seal pups wash ashore in Namibia, says conservancy group
• At least six killed in tribal clashes in Sudan port city, doctors say
• South Africa’s Biovac in talks to manufacture Covid-19 vaccines
• EU agrees to help Mozambique tackle insurgency: statement
• Robbery or social justice? France court fines activist who pinches
colonial relics
• Rwanda in talks with EU, US firms to produce cannabis for export
• Kidnappings by pirates up 40% in Gulf of Guinea – IMB

Bloomberg
• Economist shakes up Guinea’s male-dominated leadership race
• South Sudan currency crisis sees shops close as prices surge
• Twitter CEO Jack Dorsey & Google come out in support of Nigerians
protesting controversial police unit
• Ivory Coast’s main opposition leaders called on voters to boycott
October 31 elections
• Stripe agrees to buy Nigeria startup Paystack for $200 mln
• Angola says stolen assets worth more than $24 bln estimate
• South Africa recovery plan targets jobs, new infrastructure
• Nigeria state oil company lost $4.5 mln last year
• Kenya economy shrinks for first time in 17 years due to virus
• South Africa stocks drop as US stimulus, lockdowns hit sentiment
• Zambia closer to default after missing eurobond interest payment
• Nigeria inflation rate rises more than expected on food costs
• Nigeria army offers to back civil authorities amid protests
• Stalled trucks at borders cast pall on Africa free trade pact
• Africa’s biggest bank is bulking up to fend off fintech rivals
• Barrick deal, smuggling crackdown revive Tanzania gold industry
• Pirate kidnappings off West Africa coast rise 40%, study shows
• Die-off of 5,000 seal pups on beach triggers inquiry in Namibia

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 15 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Global shares slop on pandemic surge, failing stimulus hopes
• MSCI Asia ex-Japan & Nikkei down 0.5%
• S&P 500 futures down 0.3% in Asia
• Poor BofA & Wells Fargo results weigh on banks index
• Brent & WTI up 0.1% at $43.37 & $41.08 respectively (0032GMT)
• Spot gold down 0.2% at $1,896.26/oz., futures down 0.4% at
$1,899/oz. (0320GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa’s Ramaphosa presents economic recovery plan to parliament
• Some Nigeria firms close for the week over youth protests for police reforms
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Nigeria inflation Sep-20 [fcst. 13.5% yy, prev. 13.2%]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Rwanda in talks with EU, US firms to produce cannabis for export
• Kidnappings by pirates up 40% in Gulf of Guinea – IMB
• Uganda presidential hopeful Bobi Wine says security forces raided his office
• ‘Super efficient’ Somalia militants rake in cash
• Mozambique’s health minister tests positive for coronavirus
• Central bank says no license needed for foreign lending in Uganda
• Poisoned carcasses killing off Kenya’s vultures
• Nigeria police vow to stop using force against protesters in wake of deaths
• Death toll in migrant ship accident off Tunisia rises to 17
• Suspected militants kill 25 in central Mali attacks
• IMF sees slower rebound in South Africa’s economy next year
• Extension of G20 debt freeze would be very beneficial – Angola
• Eni seeks World Bank arbitration in Nigeria oilfield dispute
• At least 12 people killed in western Ethiopia
• Tunisia protesters clash with police after man dies in bulldozed kiosk

Bloomberg
• Barrick deal, smuggling crackdown revive Tanzania gold industry
• Pirate kidnappings off West Africa coast rise 40%, study shows
• Die-off of 5,000 seal pups in beach triggers inquiry in Namibia
• G20 to extend poor nations’ debt relief, Malpass says
• G20 extends debt relief plan amid warnings it’s not enough
• Uganda central bank absolves itself of blame in DTB loans case
• Ghana inflation slows for 2nd straight month on food prices
• Horn of Africa better able to fight new locust swarms, FAO says
• Eni accuses Nigeria & US litigation funder of ‘opaque’ deal
• De Beers sells most diamonds since virus paralyzed industry
• Northan weighs buyout of south Africa black investors’ $1.8 bln stake
• South Africa treasury requests budget delay over recovery plan
• Countries start hoarding food as prices rise and covid worsens
• Saudi prince and Putin urge OPEC+ compliance as oil prices sag
• Zambia warns of default if creditors refuse interest holiday
• Caledonia plans listing on Zimbabwe’s new stock exchange
• Macron is paying the price for France’s bloody history in Africa
• Subpar economic recovery seen piling more pain on Nigeria banks

N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 14 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Asian equities slip as vaccine trials, stimulus talks stall
• MSCI Asia ex-Japan shares down 0.2%
• Nikkei down 0.2%, South Korea’s down 0.7%
• Chinese shares opened in the red too, down 0.3%
• Brent down 8 cents at $42.37, WTI at $40.1
• Spot gold steady at $1,895.04/oz., futures flat at $1,898.30

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Some Nigeria firms close for the week over youth protests for police reforms
• South Africa retail sales Aug-20 [act. -11.1% yy, prev. -9.0%]
• Eritrea’s Afwerki visits Ethiopia; 12-14 Oct
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Nigeria inflation Sep-20 [fcst. 13.5% yy, prev. 13.2%]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent
• South Africa’s Ramaphosa presents economic recovery plan to
parliament (15 Oct)

Key African events or data releases yesterday & early a.m today
Reuters
• Nigeria’s police vow to stop using force against protesters in wake of deaths
• Death toll in migrant ship accident off Tunisia rises to 17
• Suspected militants kill 25 in central Mali attacks
• IMF sees slower rebound in South Africa’s economy next year
• Extension of G20 debt freeze would be very beneficial – Angola
• Eni seeks World Bank arbitration in Nigeria oilfield dispute
• At least 12 people killed in western Ethiopia
• Tunisia protesters clash with police after man dies in bulldozed kiosk
• Ramaphosa advisors say South Africa debt reduction plans too ambitious
• Turkey exporters complain of new customs delays in Morocco, Algeria
• South Sudan families displaced by fighting forced out again by floods
• Tanzania firefighters battle blaze on slopes of Mount Kilimanjaro
• Malnutrition stalks Congo’s overcrowded prisons
• Pandemic adds to war in keeping Libya children out of school
• Kenya supplier dropped by UK’s Tesco calls for probe into allegations

Bloomberg
• Trump demands plan to pull hundreds of US troops from Somalia
• Trump student visa plan will hurt Africa – and the US
• Renewed clashes in West Ethiopia leave at least 12 people dead
• Online disinformation campaigns undermine Africa elections
• IEA’s Birol sees Libya oil restart potentially lowering prices
• PwC hit by $40 mln lawsuit from Botswana supermarket chain
• Nigeria oil hub braces for protests against police brutality
• Mozambique outlines fund plan for $96 bln gas windfall
• Nigeria’s delayed oil bill to get lawmakers’ backing, Kyari says
• South Africa won’t meet debt targets, President’s council says

N.B. Full stories of above headlines are available on Reuters & Bloomberg