macroafricaintel Daily Brief | 7 Dec

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

Global Markets
• Asian shares ease from record high; oil falls on virus case surge
• China’s exports surge on hot demand for PPE, remote working tech
• Oil prices stumbles as coronavirus resurgence forces more lockdowns
• Brent down 0.4% at $49.05, WTI down 0.4% at $46.06 (0401GMT)
• Gold edges higher as US stimulus bets outweigh vaccine hopes
• Spot gold up 0.2% at $1,841.93/oz., futures up 0.2% at $1,844.20 (0554GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana presidential & parliamentary polls today; public holiday
• AfDB hosts Africa economic conference (8-10 Dec)
• Top executives of South Africa’s ruling ANC meet (6-8 Dec) [Embattled scribe Magashule’s fate likely on agenda]
• Nigeria’s Buhari to address lawmakers on insecurity in the north; governors expected to meet him beforehand [dates TBC]
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent
• Liberia holds mid-term senate elections & constitutional referendum (8 Dec)
• South Africa GDP Q3-20 (8 Dec) [fcst. 4.0% qq saa, prev. -51.0%]
• South Africa CPI Nov-20 (9 Dec) [fcst. 3.5% yy, prev. 3.0%]
• South Africa retail sales Oct-20 [fcst. -3.2% yy, prev. -2.7%]
• South Africa current account balance Q3-20 [fcst. 1.1% of GDP, prev. -2.4%]
• South Africa mining production Oct-20 [fcst. -3.8% yy, prev. -2.8%]
• South Africa manufacturing production Oct-20 [fcst. -2.9% yy, prev. -2.6%]

Key African events or data releases over the weekend & early a.m today
Reuters
• Ghana votes as candidates pitch route out of economic crisis
• Insecurity holds up aid to Ethiopia’s Tigray region, aid workers say
• South Africa urges quarantine after ‘super-spreader’ student parties
• Fighting flares in Ethiopia’s Tigray as army says closing in on
rebellious force
• One killed, others wounded as Cameroon holds first ever regional election
• Egypt rights group head hopes release will help other prisoners
• War in Ethiopia’s Tigray wrenches families apart
• Ethiopia sees war ending, EU complains of partisan aid access
• Ethiopia aid pact not good enough, says EU official
• US decision to withdraw troops dismays some Somalia citizens
• Blast-rocked South Africa oil refinery shut down for investigations
• ‘Disturbing reports’ from Eritrea refugee camps in Tigray: UN
• Ivory Coast cocoa farmers threaten to boycott industry sustainability programs
• Egypt frees members of leading rights group
• South Africa tightens covid-19 rules in Eastern Cape, Ramaphosa says
‘in the fight of our lives’
• CAR court rejects ex-president Bozize’s candidacy

Bloomberg
• Congo’s president seeks new majority to end govt crisis
• China & the US are facing off in the third world
• Egypt court upholds asset freeze of 3 rights workers
• Sudan minister says army forging Israel ties without oversight
• A leader of Mali’s coup was elected head of transitional council
• Investors want more of same in Ghana as fiscal challenges mount
• Ivory Coast and Hershey kiss and make up in cocoa premium spat
• Tanzania’s re-elected president retains Biteko as mines minister
• Elephants for sale as Namibia responds to overcrowding
• Nigeria’s naira gains in parallel market as dollar supply rises
• Exiled Ivory Coast ex-president Gbagbo plans December return
• South Africa expects first virus vaccine delivery by mid-2021
• Rising attacks on Nigeria farmers hit nation’s food reserves
• New South Africa airline to fly even as crisis grips industry
• Trump orders most US troops out of Somalia by early 2021
• Ethiopia rebels says fighting persists after their capital’s fall
• South Africa seeking several partners for units of state airline
• Salif Keita, one of Mali’s most beloved singers, enters politics
• Uganda approves environmental impact report for oil pipeline
• Mali interim govt considers talks with militants

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

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