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

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