macroafricaintel Daily Brief | 23 Nov

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

Global Markets
• Asian shares rise as vaccine hopes inject relief
• In latest China jab, US drafts list of 89 firms with military ties
• Oil prices extend gains on covid vaccine hopes, OPEC+
• Brent up 0.5% at $45.17, WTI up 0.2% at $42.52 (0436GMT)
• Gold rises as softer dollar, stimulus hopes outweigh vaccine optimism
• Spot gold up 0.2% at $1,873.51/oz., futures little changed at $1,871.70

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Bank of Ghana announces rate decision [fcst. 14.5%, prev. 14.5%]
• Central Bank of Nigeria decides interest rates (23-24 Nov) [fcst. 11.5%, prev. 11.5%]
• Finance minister Ahmed opens 26th NESG Nigeria economic summit (23-24 Nov)
• Electoral Commission of Ghana chair Mensa briefs press on election preparations
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama back on the campaign trail
• South Africa state capture inquiry continues
• South Africa ruling ANC top executives meet [during the week] to discuss embattled scribe Magashule’s fate
• South Africa consumer inflation Oct-20 (25 Nov) [fcst. 3.2% yy, prev. 3.0%]
• South Africa producer inflation Oct-20 (26 Nov) [fcst. 2.5% yy, prev. 2.5%]
• Central Bank of Kenya decides interest rates (26 Nov) [fcst. 7.0%, prev. 7.0%]
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• UN urges civilian protection after Ethiopia’s 72-hr deadline for Tigray forces
• Spain to send more police to Senegal to curb illegal migration, says
foreign minister
• Nigeria general dismisses bloody protest videos as fake
• Ethiopia PM gives Tigray forces 72 hours to surrender regional capital
• Burkina Faso holds election under looming threat of violence
• Ethiopia govt says its forces have taken town around 100 km from
Tigray capital
• Militant group in North Africa names new leader to succeed Droukdel
• Search for last miner trapped at South Africa’s Gamsberg goes on,
mining halted
• Sudan cuts petrol and diesel prices for consumers – minister
• South Africa’s ‘painful’ ratings downgrade will raise borrowing
costs – minister
• Uganda’s Bobi Wine released on bail as protest death toll rises to 37
• Nigeria slips into recession, weighed down by covid-19 and oil prices
• Covid-19 exposed Kenya’s debt vulnerability though measures helped – IMF
• Ethiopia rejects African mediation, pushes toward rebel-held Tigray capital
• In Burkina Faso, voters left voiceless amid escalating violence
• Egypt arrests executive director of prominent rights group in latest crackdown
• UN says it plans for 200,000 Ethiopia refugees in Sudan
• Zimbabwe issues six new TV licences, including to defence ministry
• Zimbabwe court frees journalist charged with obstructing justice
• As covid toll among Kenya doctors jumps, one widow shares her grief
• South Africa insurer Santam to appeal coronavirus ruling
• Mozambique police say northern village, site of reported beheadings,
retaken from insurgents
• UN aid agencies call for ceasefire in Ethiopia, seek $200 mln aid
• Sierra Leone considering a warrant for the arrest of former president
• Death toll rises to 28 in Uganda protests after Bobi Wine’s arrest: police
• Jordan to open consulate in Western Sahara amid dispute
• UN Libya envoy urges UN to blacklist anyone who obstructs peace talks

Bloomberg
• Africa’s biggest fund manager is seeking new business
• Kenya seeks $2.3 bln loan from IMF to help economic recovery
• UAE calls on Ethiopia parties to end fighting, resume dialogue
• South Africa’s President Ramaphosa says the country can avoid a debt crisis
• G20: World leders praise Paris climate pact as Trump justifies exit
• G20: Trump stays mum on vaccine sharing despite pledges from others
• Tanzania, Mozambique launch joint operations against insurgents
• Ethiopia conflict sparks conflicting narratives as battle rages
• Emergin markets look to 2021 as Goldman adds to bullishe calls
• Militant group names new North Africa leader, report kidnap death
• South Africa study puts covid deaths much higher than official toll
• Militant violence casts shadow over Burkina Faso elections
• Ethiopia’s telecom auction plan falters before bidder meeting
• Madagascar expects economic turnaround in 2021 with 4.5% growth
• Disaffected Angolans prepare for fresh protest over the economy
• AU to send envoys to mediate Ethiopia conflict
• South Africa descends deeper into junk after two downgrades
• South Africa ruling party to discuss fate of Ramaphosa’s rival
• Nigeria economy falls into recession with 3.62% contraction
• Nigeria backtracks on currency rules after naira weakens
• Macron says Russia, Turkey fueling anti-France sentiment in Africa
• Clashes erupt after racism protest at South Africa school
• Cocoa extends rally to 8-mth high on Hershey trade
• Ghana’s 2nd – biggest bank sees stronger loans growth in 2021
• Ethiopia faces risk of protracted war with dissident state
• Uganda court grants bail to presidential candidate amid protests
• Tiger Brands to cut 400 jobs as new CEO strives to reduce costs

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

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