macroafricaintel Daily Brief | 1 Feb

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

Global Markets
• Wall Street gears up for 2nd bout against Reddit traders
• Asia shares rally as retail crowd catch silver bug; silver prices up
• Republicans press Biden to scale back $1.9 tln covid-19 relief plan
• Oil treads warily higher amid patchy vaccine rollouts, new coronavirus variants
• Brent up 10 cents at $55.14, WTI up 1 cent at $52.21 (0233GMT)
• Silver surges to near 6-mth peak on retail mania; spot up 5.3% at $28.44 (0451GMT)
• Spot gold up 0.8% at $1,860.76/oz., futures up 0.7% at $1,863.40

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana supreme court hears from key witnesses in Mahama petition
• South Africa state capture inquiry continues
• Nigeria police chief tenure expires; no sign replacement today
• South Africa’s Ramaphosa receives 1st 1 mln doses of covid vaccine
• Bank of Ghana decides interest rates [fcst. 14.5%, prev. 14.5%]
• Kenya’s Uhuru et al. campaign for BBI, amid Ruto pushback
• 2021 Investing in African Mining Indaba (virtual; 2-3 Feb)
• UK-Africa fintech summit (virtual; 3-4 Feb)
• Africa PMIs Jan-21 (3 Feb)
• South Africa FX reserves Jan-21 [prev. $55.0B]
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• Bird flu kills more than 250 pelicans in Mauritania, says ministry
• Bomb and gunfire rock Somalia hotel, militants claims responsibility
• Fugitive ex-leader of Ethiopia’s Tigray region vows ‘extended resistance’
• Zimbabwe has $100 mln to buy covid-19 vaccines, paper says
• South Africa to receive extra 20 mln covid-19 vaccines, paper says
• Tunisia to issue up to $3 bln debt and push reforms this year, finance ministry
• UN lists candidates to run Libya’s transitional govt until this year’s vote
• Algeria launches coronavirus vaccination campaign
• Wake-up call for Zimbabwe’s elite as covid-19 floods hospitals, killing rich and poor
• CAR suspect to fight war crimes allegations at ICC – lawyer
• More than 200,000 flee ‘apocalyptic’ conflict in CAR
• Congo prime minister resigns, increasing President Tshisekedi’s power
• South Africa cinema group Ster-Kinekor, hit by covid-19 curbs, files for bankruptcy
• J&J vaccine adds to covid-19 armoury, includes South Africa variant
• Ethiopia to seek debt relief under G20 debt framework – ministry
• CAR suspect to fight war crimes allegations at ICC – lawyer
• Airtel Africa to focus on current markets, will not bid for licenses in Ethiopia – CEO
• Kenya aims to vaccinate 16 mln people against covid-19 by June 2022
• Environmentalists, farmers win Dutch court case over Shell Nigeria spills
• South Africa medical schemes divided on vaccine funding model
• South Africa’s MTN wants court to scrap or fix 5G spectrum sale process
• Zambia, Ethiopia next in line for debt relief – France source

Bloomberg
• JP Morgan to BofA see scope for longer South Africa stock rally
• Unexplained elephant deaths resume in Botswana, govt says
• South Africa weighs lifting alcohol ban as covid cases ease: News24
• ANC’s labour ally says party is falling to act on South Africa graft
• Zimbabwe gross revenue collection for fourth quarter over target
• Zambia skips 2027 eurobond coupon payment, finance ministry says
• Ethiopia dissident vows to continue fighting federal govt
• France billionaire puts Mozambique leader at heart of debt scam
• eSwatini revamps tax system, cuts debt arrears amid virus crisis
• Tanzania gold export earnings rise 34% in 2020 on higher prices
• Gambia leader launches party he’s expected to lead in election
• Ghana banks extend relief measures as virus resurgence risks recovery
• Libya oil guards set new salary deadline as exports risk lingers
• MTN files lawsuit to challenge South Africa’s 5G spectrum sale
• South Africa’s Kganyago sees room to react to 3rd virus wave
• Barclays sees upside to South Africa’s vaccine rollout delay

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

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