Category Archives: Daily briefs

macroafricaintel Daily Brief | 4 Dec

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

Global Markets
• Asian shares vault to record high as US stimulus seen within reach
• Biden says he has asked Dr. Fauci to join covid-19 team
• US expected to report slowest job growth in 6 mths
• Dollar weakening expected to last into 2021 as risky bets remain
• Oil prices jump after OPEC+ inks supply compromise
• Brent up 2.1% at $49.75, WTI up 1.8% at $46.48 (0555GMT)
• Gold set for weekly gain as US stimulus hopes dent dollar
• Spot gold little changed at $1,840.75/oz., futures up 0.2% at
$1,844.10 (0528GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• AU hosts AfCFTA business forum
• AU chair Ramaphosa presides over UN high-level debate on UN-AU cooperation
• Nigeria’s central bank kicks off new policy on easing diaspora remittances
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama in final campaign push
• 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
• Ivory Coast cocoa farmers threaten to boycott industry sustainability programs
• As Cameroon prepares first regional election on Sunday, opponents
say it’s too late
• CAR court rejects ex-president Bozize’s candidacy
• Aid coming to north Ethiopia, refugees recount war suffering
• South Africa gives national airline $98 mln, but administrators can’t use it
• UN panel says South Sudan blocking its missions to violence-hit areas
• Liberia rebel commander shouts out at start of Swiss trial for
cannibalism, rape
• Nigeria oilfield sale to Eni, Shell was legally ‘perfect’, say
ex-oil minister lawyer
• Africa foresees 60% of people vaccinated against covid in 2-3 years
• Eyes on female VP candidate as Ghana heads to the polls

Bloomberg
• South Africa: Africa’s top pension fund backs scandal-plagued money manager
• Land Bank creditor urges South Africa to speed up rescue efforts
• Ramaphosa reinstates restrictions in South Africa virus hotspot
• Ivory Coast farmers threaten to boycott programs in price spat
• Pandemic pushed 32 mln people into extreme poverty, UN says
• South Africa funds for airline breach rules, administrators say
• South Africa seeks $400 mln from buyer from stake in airline

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

macroafricaintel Daily Brief | 3 Dec

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

Global Markets
• Asia shares mixed, US dollar neear 2-1/2 year lows
• Higher US inflation hopes finally look credible
• Fed sees little to no growth in much of US as stress mounts
• US issues travel curbs for Chinese communist party members: NYT
• Oil drops as OPEC+ resume talks on output cut extension after impasse
• Brent down 0.3% at $48.10, WTI down 0.4% at $45.11 (0155GMT)
• Gold rises to over 1-wk high on sagging dollar
• Spot gold up 0.2% at $1,835.37/oz., futures up 0.5% at $1,838.60 (0402GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa parliament debates & votes on Ramaphosa no-confidence motion [Expected to fail but could herald more challenges to president’s authority]
• South Africa Standard Bank PMI Nov-20 [prev. 51.0]
• Nigeria Stanbic IBTC PMI Nov-20 [prev. 53.5]
• Nov-20 PMIs for Kenya, Ghana, etc. also due
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama in final campaign push
• South Africa’s Ramaphosa addresses UNGA special session on covid-19
• South Africa’s Ramaphosa delivers speeches on various subjects, expected to address nation on covid-19 measures before end-of-week
• AU hosts AfCFTA business forum (4 Dec)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Four aid workers killed in Ethiopia’s Tigray, sources say
• UN & Ethiopia reach aid pact for war-hit Tigray
• Nissan sets up new business unit for Africa region
• eSwatini’s prime minister moved to South Africa hospital for
coronavirus treatment
• Militant violence escalates in Burkina Faso, making widespread hunger worse

Bloomberg
• Land Bank creditor urges South Africa to speed up rescue efforts
• South Africa worst hit by covid-19 falling behind on vaccines
• Elephants for sale as Namibia responds to overcrowding
• Cocoa war sends spreads tumbling as traders fear Africa backlash
• Ghana ex-president plans infrastructure splurge if he wins vote
• Libya must ned war to expel ‘occupying’ foreign forces, UN says
• Nigeria starts bills to boost banks’ liquidity, grow economy
• Oil rises after US supply drop and signs OPEC talks in advance
• Russia’s answer to office 365 helps Putin with Africa ambitions
• Nigeria’s biggest bank in talks to buy Atlas Mara assets
• Morocco needs new IMF deal to ride out virus, finance body says
• Uganda’s Bobi Wine suspends presidential campaign: report
• South Africa virus fears cloud outlook for banks tied to economy

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

macroafricaintel Daily Brief | 2 Dec

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

Global Markets
• Asia shares bounce on hopes for US stimulus, vaccine
• Biden would not immediately remove Phase 1 trade agreement with China: NYT
• Oil prices drop on US stock build, delay in OPEC+ meeting
• Brent down 0.9% at $47.01, WTI down 1% at $44.09 (0358GMT)
• Gold dips as doubts linger over US stimulus bill
• Spot gold down 0.3% at $1,810.36/oz., futures down 0.4% at $1,812.60 (0311GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria’s Buhari chairs cabinet meeting; insecurity in the north expected to top agenda [Senate wants military chiefs replaced]
• South Africa’s Ramaphosa participates in dialogue on ILO convention no. 190
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama in final campaign push
• Kenya’s Ruto meets allies on BBI strategy
• South Africa public sector unions ask court to force govt’s hand on 2018 wage increases agreement [Govt wants case postponed to after 1
Feb.]

• South Africa’s Mabuza delivers keynote at World AIDS day event in Soweto
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Violence, floods in South Sudan’s Warrap state displace thousands
• Ethiopia war may turn into guerrilla insurgency, experts say
• Regulations needed to stem cocoa sector abuses: report
• Ethiopia govt says senior politician linked to Tigray region
rebellion surrenders
• Historic Liberia war crimes trial to open in Switzerland
• HIV generic drug for babies to be rolled out in Africa in 2021 – aid agencies
• Africa retail tech startup Sokowatch eyes electric tuk tuks to cut costs
• South Africa tries to delay wage dispute hearing, unions opposed
• UN seeks access to 96,000 Eritrea refugees in Tigray where food running out
• Somalia expels Kenya ambassador over ‘interference’

Bloomberg
• South Africa virus fears cloud outlook for banks tied to economy
• Mars throws shade at chocolate rivals in global cocoa fight
• Ethiopia govt says member of Tigray executive surrenders
• South Africa govt pay dispute with unions heads for court
• EU may suspend budget funding to Ethiopia over Tigray conflict
• South Africa factory mood drop signals recovery is losing steam
• OPEC+ talks delayed as countries fight over oil output
• Zimbabwe $1.25 bln plan sees cannabis as biggest cash crop

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

macroafricaintel Daily Brief | 1 Dec

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

Global Markets
• Asia shares extend gains on recovery hopes, following stellar November
• Asian factories continue recovery from covid-19 woes as China booms
• US housing, manufacturing data suggest economic recovery slowing
• Oil drops as OPEC+ delays talks, raising supply alarm
• Brent down 0.5% at $47.62, WTI down 0.5% at $45.11 (0550GMT)
• Gold rebounds from 5-mth lows as virus fears outweigh vaccine cheer
• Spot gold up 0.4% at $1,784.37/oz., futures up 0.4% at $1,787.90 (0349GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana elections special voting today; main polls on 7 Dec
• Nigeria’s Buhari rolls out national gas expansion programme [1 mln petrol/diesel to autogas vehicle conversions by end-2021 targeted]
• South Africa ABSA manufacturing PMI Nov-20 [prev. 60.9]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa’s Mabuza delivers keynote at World AIDS day event in Soweto
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Ivory Coast, Ghana cancel cocoa sustainability schemes run by Hershey
• US Pompeo voices ‘grave concern’ about ongoing Ethiopia Tigray hostilities
• Somalia expels Kenya ambassador over ‘interference’
• Abiy says Ethiopia’s federal forces have not killed civilians in Tigray
• Malaria death toll to exceed covid-19’s in sub-Saharan Africa: WHO
• Militants attack three France military bases in Mali
• In Sudan camp, a Tigray farmer once displaced by famine now shelters from war
• Ivory Coast, Ghana withdraw membership of US trade body – document
• Violence, floods in South Sudan’s Warrap state displace thousands
• Threats, detentions and frozen assets: Nigeria’s protesters depict
pattern of intimidation
• Ethiopia’s PM savours victory, Tigrayan leader says war not finished
• Electricity grid collapses in Nigeria, Africa’s largest economy
• Nigeria buries 43 farmers killed by militants, dozens missing
• Allies of Burkina Faso’s Kabore retain control of parliament

Bloomberg
• Oil rally stalls on uncertainty over OPEC+ output plan
• Zimbabwe $1.25 bln plan sees cannabis as biggest cash crop
• Cocoa growers, Ivory Coast & Ghana, hit back at Hershey, ban ethical efforts
• Naira hits 4-yr low as Nigeria central bank adjusts rate
• Kenya shilling set for longest losing streak ever on virus hit
• Zimbabwe rules out return to US dollar, backs local currency
• South Africa stocks fall, paring best November gains since 2001
• South Africa buyout firms take equity in Zimbabwe border post

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

macroafricaintel Daily Brief | 30 Nov

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

Global Markets
• Global shares rest after ‘awesome’ month, China factories speed up
• China’s factory activity expands at fastest pace in over three years
• OPEC+ yet to find compromise on oil policy for 2021, say sources
• Oil prices slip in cautious trade ahead of OPEC+ meet
• Brent down 1% at $47.72, WTI down 1.1% at $45.05 (0355GMT)
• Vaccine optimism puts gold on course for worst month in 4 years
• Spot gold down 1% at $1,771.22/oz., futures down 0.7% at $1,775 (0452GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana electoral chief Mensa briefs press on polls prep
• South Africa PSCE Oct-20 [act. 3.2% yy, fcst. 2.8%, prev. 3.1%]
• South Africa M3 Oct-20 [act. 9.8% yy, fcst. 9.3%, prev. 9.5%]
• Nigeria FX reserves Nov-20 [prev. $35.7B]
• South Africa ABSA manufacturing PMI Nov-20 [prev. 60.9]
• South Africa balance of trade Oct-20 [prev. ZAR33.5B]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• Gordhan testifies before South Africa state capture inquiry
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• Malaria death toll to exceed covid-19’s in sub-Saharan Africa: WHO
• International Red Cross says hospitals in Ethiopia city of Mekelle
low on supplies to treat wounded
• UNHCR says it hopes humanitarian access to Tigray will be granted soon
• Nigeria buries 43 farmers killed by militants, dozens missing
• Tigray forces claim to have shot down Ethiopia plane, taken town
• Allies of Burkina Faso’s Kabore retain control of parliament
• UK ‘very concerned’ by reports of fighting in Ethiopia’s Mekelle,
attacks on Eritrea
• Militant attack on farm in northern Nigeria leaves 40 dead – sources
• Ethiopia military operation in Tigray is complete, prime minister says
• Tigray leader says Ethiopia offensive on regional capital of Mekelle has begun
• Somalia: Suicide bomber kills six in Mogadishu ice-cream parlour
• Nigeria’s economy set to grow 2% in 2021 – central bank governor
• Ethiopia forces capture town, move toward Tigrayan capital, senior
armed forces officer says
• Mozambique unaware of Exxon, Total talks on LNG resource-sharing deal
• ‘Hotel Rwanda’ hero says he was kidnapped and blindfolded before arrest
• Refugees in Ethiopia’s Tigray set to run out of food: UN
• Thousands attend funeral of Sudan’s last democratically elected PM
• Analysis: How attempts to unify Ethiopia may be deepening its
divides, say analysts

Bloomberg
• Lockdowns in South Africa freed township entrepreneurs to thrive
• Fighting in Ethiopia’s Tigray still going on, TPLF head asserts
• Nigeria says militant group attack on rice farmers leaves 42 dead
• Eritrea capital hit by rockets from Ethiopia for 3rd time
• Somali military executes three militant group members
• OPEC faces seismic demand split as cartel plots next move
• South Africa retailers turn from China to source local clothes
• Ethiopia troops begin Tigray capital assault as deadline lapses
• Nigeria supreme court upholds oil spill award against Shell
• Nigeria sees 2% GDP growth in 2021; inflation to moderate in 1H
• Nigeria’s dollar crunch pushes naira to the weakest since 2017
• Ethiopia leader rebuffs AU bid to end civil conflict
• Ethiopia PM rejects dialogue in meeting with AU envoys
• Nigeria expects to exit recession in fourth quarter: minister
• Nigeria says World Bank loan discussions in final stage
• South Africa treasury warns of fiscal crisis over state wages
• Libya’s oil comeback has legs even if reliability is in doubt
• Burkina Faso’s Kabore wins new team in vote marred by insecurity
• Nigeria central bank rule leaves cocoa stranded at ports

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

macroafricaintel Daily Brief | 27 Nov

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

Global Markets
• AstraZeneca faces questions about its success rate
• Inching toward exit, Trump says he’ll leave if Biden wins electoral
college vote
• Global stocks hover near record high, oil skids on demand outlook
• Oil mixed as rally falters over supply concerns, vaccine doubts
• Brent up 9 cents at $47.89, WTI down 69 cents at $45.02 (0104GMT)
• Gold set for third weekly decline as vaccine optimism weighs
• Spot gold down 0.2% at $1,807.86/oz., futures steady at $1,806 (0335GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• AU envoys meet Ethiopia’s PM Abiy in Addis to mediate Tigray conflict, as military assault on region begins
• Central Bank of Kenya’s Njoroge briefs press on MPC outcomes
• 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 court hears blasphemy conviction appeals in northern city Kano
• Sixty km queues as covid turns Kenya border crossing into lorry park
• Africa faces wait for mass covid-19 vaccination – disease control group
• Analysis: Libya rival forces have stopped shooting, but they are not
pulling back
• Burkina Faso President Kabore secures re-election, preliminary results show
• Ethiopia to launch ‘final phase’ of offensive in Tigray region, says PM
• South Africa’s Ramaphosa faces no-confidence vote next week
• Sudan’s former PM Sadiq al-Mahdi dies from coronavirus in UAE
• South Africa’s Western Cape officials warn of covid-19 resurgence
• Kenya’s KCB clinches $40 mln Rwanda, Tanzania deals, eyes DRC

Bloomberg
• JPMorgan favours South Africa domestics over gold, tech stocks
• Lockdowns in South Africa freed township entrepreneurs to thrive
• Libya’s oil comeback has legs even if reliability is in doubt
• Burkina Faso Kabore wins new term in vote marred by insecurity
• Nigeria central bank rule leaves cocoa stranded at ports
• South Africa’s FirstRand, Africa’s most valuable bank, sees profit
rebound as payrolls jump
• Kenya central bank maintains benchmark rate for fifth meeting
• Nigeria to strengthen infrastructure company to boost recovery
• Rwanda seeks $15 mln to secure early coronavirus vaccines
• Uganda sugar millers seek state to help over ‘unfair competition’
• Zambia inflation accelerates to 4-yr high
• Bob Diamond’s African Bank exits two markets as it enters debt talks
• Ethiopia prime minister orders army to move on Tigray capital
• Sadiq al-Mahdi, Sudan premier turned opposition head, dies at 84
• South Africa hospitals warn of virus surge in holiday season

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

macroafricaintel Daily Brief | 26 Nov

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

Global Markets
• Asian shares advance as vaccine, recovery hopes triumph soft US data
• Hit by pandemic, Americans line up for Thanksgiving meals
• Bitcoin price drops more than $1,000 in Asian trade
• Oil rally boosted by surprise fall in US stocks
• Brent up 0.9% at $49.06, WTI up 0.7% at $46.05 (0245GMT)
• Gold gains as weak US jobs data, virus worries dim recovery hopes
• Spot gold up 0.3% at $1,811.31/oz., futures up 0.2% at $1,808.70 (0324GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• AU envoys in Ethiopia to mediate Tigray conflict, as military assault on region about to begin
• Central Bank of Kenya decides interest rates [fcst. 7.0%, prev. 7.0%]
• South Africa producer inflation Oct-20 [fcst. 2.5% yy, prev. 2.5%]
• 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
• Exxon & Total in talks over Mozambique LNG resource-sharing deal – sources
• Ethiopia news agency says 10,000 people ‘destroyed’ in war
• Suspected militant attack kills four Chad soldiers
• Africa envoys head for Ethiopia as ultimatum expires for assault
• South Africa business confidence improves in fourth quarter as
lockdowns ease – survey
• Malawi ready to produce cannabis for industrial and medicinal use
• South Africa confirms going for COVAX vaccine scheme for 10% of population
• Tigrayans accused of massacre in Ethiopia war, both sides claim advances

Bloomberg
• South Africa hospitals warn of virus surge in holiday season
• The cost of shorting South Africa’s rand is higher than ever
• World’s outlier Nigeria on remittances has its currency woes to blame
• Top cocoa grower Ivory Coast says chocolatiers favor profit over farmers
• South Africa’s Mboweni says PIC willing to help Eskom resolve debt
• Burundi urges UN to push Rwanda for handover of dissidents
• Alleged member of Nigeria cybercrime ring arrested in Lagos
• Africa looks to China, Russia to boost scant vaccine supplies
• South Africa holds five days of mourning for coronavirus victims
• Pandemic created new class of Kenya poor, World Bank says
• UN fears for potential of civilian casaulties in Ethiopia
• Moody’s says Nigeria banks are more equipped for expansion push
• Coronavirus is helping Africa economies compete
• Senegal cautions against private-debt relief for Africa nations
• South Africa business mood jumps to highest in more than two years
• Kenya seeks to refinance foreign commercial debt at 5% ceiling
• South Africa stocks edge higher as upgrades boost Bidvest, Tiger
• South Africa inflation quickens to 7-mth high on food costs
• Israel should invest in its new ties to Sudan
• Ethiopia fighting leaves Sudan hosting refugees it can’t support
• South Africa could sells shares in restructured national airline

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

macroafricaintel Daily Brief | 25 Nov

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

Global Markets
• Rejecting Trump’s foreign policy approach, Biden says ‘America is back’
• Global stocks hit record high as Biden, vaccine lift global prospects
• Oil prices rally further on vaccine optimism despite inventory rise
• Brent up 1.1% at $48.40, WTI up 1.1% at $45.38 (0247GMT)
• Gold inches higher from over 4-mth low as dollar weakens
• Spot gold up 0.1% at $1,809.41/oz., futures up 0.2% at $1,807.60 (0124GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya’s Uhuru & Raila start BBI signatures collection campaign
• South Africa consumer inflation Oct-20 [fcst. 3.2% yy, prev. 3.0%]
• South Africa business confidence Q4-20 [prev. 24]
• Electoral Commission of Ghana chair Mensa briefs press on election preparations
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• 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 yesterday & early a.m today
Reuters
• EU says Ethiopia fighting destabilising region, urges ceasefire
• Ethiopia sent home soldiers of Tigray ethnicity from UN force in
South Sudan: sources
• Niger ex-president Tandja, toppled after extending rule, dies at 82
• UN chief urges Ethiopia’s leaders to protect civilians in Tigray region
• South Africa confirms going for COVAX vaccine scheme for 10% of population
• Nigeria central bank holds benchmark lending rate at 11.5%
• Ethiopia commission says Tigray youth group killed 600 civilians in
November 9 attack
• Tigrayans accused of massacre in Ethiopia war, both sides claim advances
• Higher public debt threatens South Africa’s financial system, c.bank says
• UN alarmed at military build-up around Tigray capital
• Nigeria court jails seven for oil theft
• Mozambique, Tanzania to launch joint operations against insurgents
• Nigeria to bar those who flout covid-19 test rules from flying
• Head of Egypt rights group held in solitary confinement – lawyers
• Congo warlord sentenced to life for war crimes

Bloomberg
• Ethiopia fighting leaves Sudan hosting refugees it can’t support
• South Africa could sell shares in restructured national airline
• Nigeria starts era of micro oil refineries with tiny new plant
• South Africa to be in frontline for covid-19 vaccine, Mboweni says
• Angola plans to sell stakes in state companies to raise funds
• South Africa paid covax 500 mln rand for vaccine access
• Nigeria parallel market can’t dictate naira rate, Emefiele says
• Ivory Coast politics no deterrent for yield-chasing investors
• South Africa’s Mboweni says PIC willing to help Eskom resolve debt
• Ethiopia agency blames Tigray youth for massacre of 600 people
• Long-isolated Ethiopia to take major step to open phone market
• Nigeria central bank holds key rate, expects a short recession
• OPEC production cuts limit scope of Nigeria’s recovery
• South Africa to lift dividend guidance once out of virus crisis
• Zimbabwe gold smugglers estimated to ship $1.5 bln a year
• South Africa’s SAA needs partner to strengthen management, administrator says
• Nigeria court jails Ukrainians, Pakistanis for stealing crude
• A ‘missing’ president is sparking déjà vu in rudderless Algeria
• South Africa rising debt is ‘major’ threat to finance industry
• The world needs to head off the worst in Ethiopia
• South Africa treasury says SAA bailout still intact
• South Africa’s ANC looks to employment fund to rescue Eskom
• Rwanda finance minister warns of moderate risk of debt default

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

macroafricaintel Daily Brief | 24 Nov

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

Global Markets
• Trump administration gives green light for Biden transition
• Biden to name Yellen to Treasury to lead US from sharp economic
downturn [Awesome!]
• New Trump rule may require some African tourists to pay up to $15,000 in bonds
• BOJ’s Kuroda rebuffs view Japan heading towards deflation
• Brent hits highest since March, spurred by coronavirus vaccine hopes
• Brent up 0.9% at $46.49, WTI up 1.1% at $43.51 (0522GMT)
• Gold dips as vaccine hopes, strong US data signal recovery
• Spot gold down 0.1% at $1,834.40/oz., futures down 0.3% at $1,833 (0105GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Central Bank of Nigeria decides interest rates [fcst. 11.5%, prev. 11.5%]
• 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 on the campaign trail
• South Africa state capture inquiry continues
• Kenya’s Uhuru & Raila start BBI signatures collection campaign (25 Nov)
• 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 yesterday & early a.m today
Reuters
• Armed group deploys at Libya’s NOC headquarters
• Burkina Faso’s Kabore ahead in early presidential election results
• Ethiopia says Tigray capital encircled after surrender ultimatum
• Ethiopia’s Tigray forces’ leader denies regional capital encircled
• Ethiopia arrests nearly 800 suspects over ‘terrorist’ plot – TV
• South Africa corruption inquiry to file criminal complaint against Zuma
• Kenya seeks $2.3 bln loan from the IMF, treasury says
• Ethiopia says Axum airport smashed, Tigrayans face surrender deadline
• South Africa’s Naspers banks on e-commerce boom post pandemic for growth
• FIFA bans Africa football head for five years after ethics investigation
• UN urges civilian protection after Ethiopia’s 72-hr deadline for
Tigrayan capital
• Liberia electoral body says referendum on presidential terms will take place

Bloomberg
• South Africa labour minister warns of fund collapse over virus benefits
• South Africa’s refinery woes raise reliance on fuel imports
• Nigeria govt plans to only buy locally assembled cars
• South Africa banks to see limited fallout from debt downgrades
• Ghana central bank says options waning as debt hits 4-yr high
• Libya state oil firm withholds funds in feud with central bank
• Nigeria’s top bank wants to double clients with Africa expansion
• Ivory Coast tests euro debt market in first foray since pandemic
• Ghana holds key interest rate a fourth time as economy picks up
• Billionaire Bezos backs start-up in maiden Africa investment
• South Africa finance minister questions own airline bailout
• Zuma to face charges for snubbing South Africa graft probe
• South Africa’s ability to tame wage bill uncertain, Fitch says
• South Africa’s ANC looks to unemployment fund to rescue Eskom

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

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