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macroafricaintel Daily Brief | 20 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
• Asian stocks dip as US political concerns grow
• MSCI Asia ex-Japan shares down 0.1%
• Australia & Japan shares down as well
• Nikkei slips 0.3%, Hang Seng up 0.2%
• Netflix & Tesla et al. earnings results awaited
• Spot gold down 0.2% at $1,901.16/oz., futures down 0.3% at
$1,905.20/oz. (0335GMT)
• Brent down 0.8% at $42.30, WTI down 0.6% at $40.57 (0418GMT)
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya Mashujaa Day [BBI constitutional reforms proposal expected to
be key highlights of Kenyatta speech in Kisii]
• Bank of Namibia decides interest rates [fcst. 3.5%, prev. 3.75%]
• Guinea presidential election vote-counting; provisional results
expected on Wednesday [Opposition already claiming victory]
• Nigeria youth protests over police brutality continue
• Corporate Council on Africa hosts US-Ethiopia investment dialogue
• Afreximbank hosts 4th Babacar Ndiaye lecture
• Re-opened Nigeria firms, which closed last week owing to protests,
may close again [Most workers & customers unable to commute, after
transport system held hostage by protesters]
• Nigeria army begin annual military exercises
• 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
• Guinea opposition candidate claims victory, violence erupts
• Millenials get little satisfaction from democracy: Cambridge study
• Nigeria anti-police protesters must enter dialogue, minister says
• One killed as pre-election protests spread in Ivory Coast
• With Instagram, hashtags & bitcoin, young Nigerians boost anti-police protests
• Tunisia PM orders nationwide curfew over pandemic
• Ethiopia’s economy grew 6.1% in the 2019/20 fiscal year – prime minister
• Nigeria police pledge ICRC training as thousands protest nationwide
• Sudan’s premier backs demands for justice as ICC prosecutor visits
Bloomberg
• Trump removes Sudan from state of sponsor of terrorism list
• Guinea ex-premier claims election win before official results
• Zambia debt-relief vote sets tone for stormy restructuring
• Child labour worsened on West Africa cocoa farms, study shows
• Nigeria venture plans to raise $1.2 bln to plug power gap
• South Africa track record bodes ill for investment drive
• ADQ to back Lulu’s expansion in Egypt with $1 bln investment
N.B. Full stories of above headlines are available on Reuters & Bloomberg

macroafricaintel Daily Brief | 19 Oct

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

Global Markets
• Asian markets jump on vaccine, US aid hopes; gains capped by China data
• MSCI Asia ex-Japan shares up 0.6%
• China shares pare gains after Q3 GDP data misses forecasts; act.
4.9% yy v fcst. 5.2%
• Japan & Australia shares up 1.1%
• S&P 500 shares up 0.6% in Asia
• Spot gold a shade firmer at $1,900.8/oz.
• Brent & WTI slip 14 cents at $42.79 & $40.74 respectively

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria youth protests over police brutality continue
• Nigeria firms, which closed owing to protests, reopen
• Kenya BBI constitutional reforms proposal in focus; as key highlights emerge
• Newly formed Nigeria police tactical unit begin training
• 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 over the weekeend & early a.m today
Reuters
• Guinea votes on 3rd term for Conde amid voter-card concerns
• Nigeria police pledge ICRC training as thousands protest nationwide
• South Africa’s health minister tests positive for Covid-19
• Ivory Coast president’s supporters & opponents clash ahead of election
• Guinea military base attacked two days before presidential election
• Why are Nigerians protesting against police brutality?
• South Africa white farmers, black protesters face off over farm murder
• Foreign lawyers for ‘Hotel Rwanda’ hero say they have been denied
access to him
• ‘Dangerious rhetoric’ as Conde seeks 3rd presidential term in Guinea
• Uber launches medicines delivery service in South Africa
• Nigeria army plans nationwide exercise as protests rock country
• Zambia suspends output at copper processor after waste dam burst
• ICC delegation to visit Sudan to discuss case against Bashir
• Dreams dashed: Malawi migrants return empty-handed from South Africa
• South Africa’s coronavirus cases cross 700,000, says health ministry
• Silicon Valley payments firm Stripe buys Nigeria startup Paystack
• Zimbabwe expects inflation of 134% this year – finmin
• Dozen reported killed in clashes between Somalia govt, fighters
• New Africa-made films challenge Hollywood stereotypes
• Guinea officer killed on military base two days before presidential election
• South Africa puts public works, jobs at heart of Covid-19 recovery plan
• South Africa cannot sustain current levels of debt, Ramaphosa says
• Tanzania deploys helicopter to boost fight to douse Kilimanjaro fires
• Protesters march on Nigeria parliament after army threatens to step in
• Libya’s Tripoli govt says it holds UN-sanctioned alleged people smuggler

Bloomberg
• Next Africa: Zambia is focus of global debt crisis
• South Africa to allow municipalities to source their own power
• Bulls lose nerve in test of emerging markets’ October resilience
• Ex-dictator’s fate hangs in balance as ICC official visits Sudan
• A mass die-off of seals in Namibia has triggered an inquiry
• New currency notes gets 1 mln Ethiopians into banking system
• Guinea holds presidential vote amid tension over 3rd term bid
• Zambia heads to showdown with bondholders
• OPEC+ faces growing pressure to change course as ministers meet
• Russia, Saudi Arabia prepared to keep energy market stable
• Congo govt proposes $7.2 bln budget for 2021
• Tanzania opposition leader backs Lissu as presidential candidate
• Nigeria protests unwavering even as govt meets demand
• US agency to support 2,500MW nuclear project in South Africa
• Zimbabwe sees economy expanding in 2021 in waning virus impact
• South Africa to find $363 mln for covid grant in current budget
• Ivory Coast president snubs opposition’s call for talks before vote
• Copper firm ordered to halt operations after Zambia waste spill
• Ethiopia targets March to complete Max crash report
• Abu Dhabi wealth fund ADQ said to pursue Bausch’s Egypt unit
• Libya’s oil output reaches 500,000 barrels a day after truce
• Mauritius stocks lag most markets as virus clears beaches
• South Africa’s Momentum, Absa agree deal to fund share program for black staff
• South Sudan currency crisis sees shops close as prices surge

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

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

macroafricaintel Daily Brief | 15 Oct

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

Global Markets
• Global shares slop on pandemic surge, failing stimulus hopes
• MSCI Asia ex-Japan & Nikkei down 0.5%
• S&P 500 futures down 0.3% in Asia
• Poor BofA & Wells Fargo results weigh on banks index
• Brent & WTI up 0.1% at $43.37 & $41.08 respectively (0032GMT)
• Spot gold down 0.2% at $1,896.26/oz., futures down 0.4% at
$1,899/oz. (0320GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa’s Ramaphosa presents economic recovery plan to parliament
• Some Nigeria firms close for the week over youth protests for police reforms
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Nigeria inflation Sep-20 [fcst. 13.5% yy, prev. 13.2%]
• 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
• Rwanda in talks with EU, US firms to produce cannabis for export
• Kidnappings by pirates up 40% in Gulf of Guinea – IMB
• Uganda presidential hopeful Bobi Wine says security forces raided his office
• ‘Super efficient’ Somalia militants rake in cash
• Mozambique’s health minister tests positive for coronavirus
• Central bank says no license needed for foreign lending in Uganda
• Poisoned carcasses killing off Kenya’s vultures
• Nigeria police vow to stop using force against protesters in wake of deaths
• Death toll in migrant ship accident off Tunisia rises to 17
• Suspected militants kill 25 in central Mali attacks
• IMF sees slower rebound in South Africa’s economy next year
• Extension of G20 debt freeze would be very beneficial – Angola
• Eni seeks World Bank arbitration in Nigeria oilfield dispute
• At least 12 people killed in western Ethiopia
• Tunisia protesters clash with police after man dies in bulldozed kiosk

Bloomberg
• 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 in beach triggers inquiry in Namibia
• G20 to extend poor nations’ debt relief, Malpass says
• G20 extends debt relief plan amid warnings it’s not enough
• Uganda central bank absolves itself of blame in DTB loans case
• Ghana inflation slows for 2nd straight month on food prices
• Horn of Africa better able to fight new locust swarms, FAO says
• Eni accuses Nigeria & US litigation funder of ‘opaque’ deal
• De Beers sells most diamonds since virus paralyzed industry
• Northan weighs buyout of south Africa black investors’ $1.8 bln stake
• South Africa treasury requests budget delay over recovery plan
• Countries start hoarding food as prices rise and covid worsens
• Saudi prince and Putin urge OPEC+ compliance as oil prices sag
• Zambia warns of default if creditors refuse interest holiday
• Caledonia plans listing on Zimbabwe’s new stock exchange
• Macron is paying the price for France’s bloody history in Africa
• Subpar economic recovery seen piling more pain on Nigeria banks

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

macroafricaintel Daily Brief | 14 Oct

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

Global Markets
• Asian equities slip as vaccine trials, stimulus talks stall
• MSCI Asia ex-Japan shares down 0.2%
• Nikkei down 0.2%, South Korea’s down 0.7%
• Chinese shares opened in the red too, down 0.3%
• Brent down 8 cents at $42.37, WTI at $40.1
• Spot gold steady at $1,895.04/oz., futures flat at $1,898.30

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Some Nigeria firms close for the week over youth protests for police reforms
• South Africa retail sales Aug-20 [act. -11.1% yy, prev. -9.0%]
• Eritrea’s Afwerki visits Ethiopia; 12-14 Oct
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Nigeria inflation Sep-20 [fcst. 13.5% yy, prev. 13.2%]
• 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
• South Africa’s Ramaphosa presents economic recovery plan to
parliament (15 Oct)

Key African events or data releases yesterday & early a.m today
Reuters
• Nigeria’s police vow to stop using force against protesters in wake of deaths
• Death toll in migrant ship accident off Tunisia rises to 17
• Suspected militants kill 25 in central Mali attacks
• IMF sees slower rebound in South Africa’s economy next year
• Extension of G20 debt freeze would be very beneficial – Angola
• Eni seeks World Bank arbitration in Nigeria oilfield dispute
• At least 12 people killed in western Ethiopia
• Tunisia protesters clash with police after man dies in bulldozed kiosk
• Ramaphosa advisors say South Africa debt reduction plans too ambitious
• Turkey exporters complain of new customs delays in Morocco, Algeria
• South Sudan families displaced by fighting forced out again by floods
• Tanzania firefighters battle blaze on slopes of Mount Kilimanjaro
• Malnutrition stalks Congo’s overcrowded prisons
• Pandemic adds to war in keeping Libya children out of school
• Kenya supplier dropped by UK’s Tesco calls for probe into allegations

Bloomberg
• Trump demands plan to pull hundreds of US troops from Somalia
• Trump student visa plan will hurt Africa – and the US
• Renewed clashes in West Ethiopia leave at least 12 people dead
• Online disinformation campaigns undermine Africa elections
• IEA’s Birol sees Libya oil restart potentially lowering prices
• PwC hit by $40 mln lawsuit from Botswana supermarket chain
• Nigeria oil hub braces for protests against police brutality
• Mozambique outlines fund plan for $96 bln gas windfall
• Nigeria’s delayed oil bill to get lawmakers’ backing, Kyari says
• South Africa won’t meet debt targets, President’s council says

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

macroafricaintel Daily Brief | 13 Oct

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

Global Markets
• Asian stocks set to rise as tech, stimulus hopes fuel global rally
• S&P 500 E-mini futures up 0.01%
• DXY down 0.08%, euro flat at $1.1813
• Pan-European STOXX 600 up 0.7%
• MSCI global shares up 0.01%
• Brent up 2 cents at $41.74, WTI up 1 cent at $39.44 (0117GMT)
• Spot gold down 0.1% at $1,919.51/oz., futures down 0.3% at $1,923/oz.

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria’s finance minister Ahmed briefing on 2021 budget proposal
• Eritrea’s Afwerki visits Ethiopia; 12-14 Oct
• South Africa mining production Aug-20 [act. -6.2% yy, prev. -9.1%]
• IMF/World virtual annual meetings
• 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
• South Africa retail sales Aug-20 [act. -11.1% yy, prev. -9.0%] (14 Oct)
• South Africa’s Ramaphosa presents economic recovery plan to
parliament (15 Oct)

Key African events or data releases yesterday & early a.m today
Reuters
• Nigeria’s Buhari promises police reform; one protester killed
• Nigeria’s police disbands controversial anti-robbery squad after protests
• South Africa’s Ramaphosa warns against using farm murders to stoke
racial hatred
• Hundreds battle to contain fire on slopes of Tanzania’s Kilimanjaro
• Stung by the pandemic, Ethiopia boosts health budget 46%, PM says
• Pandemic adds to war in keeping Libya children out of school
• Malnutrition stalks Congo’s overcrowded prisons
• Kenya supplier dropped by Tesco calls for probe into allegations
• South Sudan families displaced by fighting forced out again by floods

Bloomberg
• South Africa won’t meet debt targets, president’s council says
• South Africa’s Ramaphosa rejects claim farm killings are orchestrated
• Ethiopia plans more control measures to combat new locust swarms
• South Africa’s FirstRand starts new bonus system for managers stung
by pandemic

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

macroafricaintel Daily Brief | 12 Oct

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

Global Markets
• China gains hoist Asian stocks to 2-yr peak
• MSCI Asia ex-Japan up 0.8%, Nikkei down 0.3%
• Yuan down 0.4% after PBOC scraps forwards reserve requirement
• Brent down 0.8% at $42.53 (0347GMT)
• Spot gold down 0.1% at $1,928.06/oz., futures up 0.4% (0329GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Financial Times Africa summit
• Nigeria business survey by statistics bureau; 1st in 22 years
• South Africa manufacturing production Aug-20 [act. -7.9% yy, prev. -10.6%]
• IMF/World virtual annual meetings
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• Protests against police brutality in Nigeria cities & diaspora
• Kenya lawyers’ body LSK 12 Oct deadline for dissolution of parliament today
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent
• South Africa mining production Aug-20 [act. -6.2% yy, prev. -9.1%] (13 Oct)
• South Africa retail sales Aug-20 [act. -11.1% yy, prev. -9.0%] (14 Oct)
• South Africa’s Ramaphosa presents economic recovery plan to
parliament (15 Oct)

Key African events or data releases over the weekend & early a.m today
Reuters
• Nigeria’s head of police dissolves controversial special anti-robbery squad
• At least 11 die as migrant boat sinks off Tunisia
• Gunmen abduct Kenyan just acquitted in shopping mall attack trial,
relative says
• Foreign hostages held in West Africa’s Sahel region
• Ivory Coast opposition rallied against President Ouattara’s 3rd term bid
• Nigeria not looking to issue eurobonds, vice president says
• South Sudan families displaced by fighting forced out again by floods
• South Sudan to change currency to improve economy – govt spokesman
• Police fire teargas at Nigerians protesting at alleged brutality,
witnesses say
• Egypt’s Sept inflation of 3.7% could trigger IMF consultation
• EU to offer Mozambique support in tackling insurgency
• Swiss hostage in Mali killed: Swiss foreign ministry
• IMF chief sees $345 bln financing gap for Africa states
• South Africa corruption inquiry to summon Zuma to appear next month
• South Africa’s Denel seeks $231 mln state support
• UN food agency WFP hails peace Nobel as call to action against hunger
• Kidnapped Mali politician, France aid worker & 2 Italians freed

Bloomberg
• Oxfam says IMF loans force spending cuts that exacerbate poverty
• Nuclear plants, cannabis seen spurring South Africa revival
• EM traders cut US election volatility wagers
• Nigeria disbands special police unit after nationwide protests
• Tanzania to get $40 mln payment from Barrick Gold on Oct. 13
• South Africa’s Sasol says Lake Charles shut without damage from
Hurricane Delta
• EU to assist Mozambique in combatting insurgency in LNG region
• Libya lifts force majeure on biggest oil field of Sahara
• Vodacom wins interim order to keep Lesotho operating license
• Guinea-Bissau says nation a ‘Banana Republic’ no more
• Mboweni sees South Africa financial crisis risk by 2024, Fin24 says
• Mauritius hotel group seeks $151 mln funding, L’Express says
• Nigeria pins hopes on first gold project to boost mining sector
• South Africa President Ramaphosa’s foes hit by legal setbacks
• Protests against police brutality spread across Nigeria cities
• Egypt annual inflation accelerates even as food prices fall
• Ivory Coast electoral body rules out delay of Oct. 31 vote
• Uganda court declares syndicated loan illegal in shock ruling
• South Africa province removes health executive over corruption
• South Africa panel orders Zuma to testify on graft allegations
• Latest militia attack in Ethiopia kills 14 civilians
• Militants free Mali opposition leader, 3 Europeans
• Uganda police hunt for mobile money fraudsters after hack

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

macroafricaintel Daily Brief | 9 Oct

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

Global Markets
• Markets to inch up as US stimulus talks restart
• Gold up on news as well, spot up 0.3% at $1,898.31/oz. (0054GMT)
• Oil rallies on Gulf of Mexico storm-induced production shutdown
• Potential oil supply cuts by Saudi Arabia & Norway also a factor
• Brent down 9 cents at $43.25 (0152GMT), after up more than 3% Thursday

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• Protests against police brutality in Lagos, Nigeria
• Kenya lawyers’ body LSK 12 Oct deadline for dissolution of
parliament to be in focus
• 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
• Kidnapped Mali politician & France aid worker freed: presidency
• Blacks still pay more than others for home ownership – MIT study
• Ivory Coast police rescue 11 children working on cooca farms
• Tanzania opposition leader says facing repression as election nears
• Mali coup leaders free former prime minister, generals
• Nigeria informal retailers turn tech-savvy to stock up amid pandemic
• Nigeria, South Korea make last round of WTO chief race
• Uganda police probe hacking of mobile money processing firm
• Sub-Saharan Africa to contract 3.3% this year, World Bank says
• 18 Burkina Faso nationals die in Ivory Coast bus crash

Bloomberg
• Militants free Mali opposition leader, 3 Europeans
• Uganda police hunt for mobile money fraudsters after hack
• Ivory Coast police rescue 11 children working on cocoa farms
• Nigeria to bolster spending in 2021
• Rwanda hands forest reserve management to African Parks in bid to
attract tourists
• Tribunal absolves Nigeria of liability in $1.5 bln oil field claim
• Botswana central bank cuts key interest rate to record low
• Kenya president unlocks $3.4 bln in funding for counties
• Indebted countries may face long negotiations after China’s aggressive lending
• Ghana to save $3 bln under new energy accord with Cenpower
• World Bank sees sub-Saharan Africa GDP rebounding in 2021
• Nigeria lawmakers approve plan to borrow $11 bln in 2021
• Impala approached over stake in giant Zimbabwe platinum project

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

macroafricaintel Daily Brief | 8 Oct

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

Global Markets
• Asian shares to track Wall Street gains on renewed US stimulus hopes
• Markets price in a Democratic sweep in US elections
• Nikkei up 0.1%, Hang Seng up 0.3%
• Spot gold up 0.5% at $1,887.05/oz.
• Brent down 1.6% at $41.99

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji & @macroafrica]
• Nigeria’s Buhari delivers 2021 budget speech (8 Oct)
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa’s Ramaphosa convenes cabinet retreat on economic recovery (day 2)
• Sierra Leone’s former president Koroma appears before
anti-corruption commission
• South Africa’s Ramaphosa anti-corruption drive gains momentun; more
high-profile arrests expected
• 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
• Tunisia imposes night curfew to slow second wave of pandemic
• Libya says it detains men suspected of burning Nigerian to death
• Cash shortage adds to weary Eastern Libyans’ woes
• Blacks still pay more than others for home ownership – MIT study
• Ivory Coast police rescue 11 children working on cocoa farms
• 8 Burkina Faso nationals die in Ivory Coast bus crash
• Kenya court convicts two for helping deadly terrorist attack on shopping mall
• US maintains suspension of military assistance to Mali, says envoy
• Tanzania opposition leader says facing repression as elections near
• Kenya’s health minister questions licensing of BAT’s LYFT nicotine pouches
• South Africa unions protest over corruption, job losses, wages
• Kidnapped France aid worker’s son cautious on word of her release in Mali
Bloomberg
• Race to the WTO leadership is down to the final two candidates
• Nigeria lawmakers approve plan to borrow $11 bln in 2021
• Impala approached over stake in giant Zimbabwe platinum project
• US to maintain halt to Mali military aid until after election
• Social media users may have to get a special license in Lesotho
• Sudan’s Red Sea ports resume operations after days of protests
• South Africa business group urges reforms as sentiment recovers
• South Africa services mood bounces back from record low
• South Africa stocks edge higher with banks helped by rand gains
• Nigeria to end crude-for-fuel swaps in 2023, ThisDay says
• South Africa unions strike to protest graft, job losses
• Libya’s central bank calls for resumption of oil operations
• Nigeria to start central clearing of derivatives from next year
• South Africa central bank shifts to ‘wait and see’ after covid-19 response

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

macroafricaintel Daily Brief | 7 Oct

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

Global Markets
• Asia stocks inch up, defy US stimulus gloom
• MSCI Asia ex-Japan up 0.2%, Nikkei down 0.2%
• Markets await Fed minutes (1800GMT)
• Spot gold steady at $1,879/oz.

Oil Markets
• Oil prices fall as Trump cancels aid talks, US crude stockpiles rise
• Brent down 1.6% at $41.95 a barrel (0411GMT)
• WTI down 2% at $39.86

Precious metals
• Gold claws back as economic uncertainty lifts appeal
• Spot gold up 0.3% at $1,882.12/oz. (0345GMT)
• US gold futures down 1.2% at $1,886.30/oz.

Grains
• Wheat slips from 5-yr high, dry weather concerns limit losses
• Wheat futures down 0.3% at $5.91 a bushel (0317GMT)
• Soybeans down 0.3% at $10.41-1/4 a bushel
• Corn up 0.1% at $3.85-1/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji & @macroafrica]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• WTO announces final two candidates for DG
• South Africa’s COSATU 1-day strike over corruption, etc.
• South Africa’s Ramaphosa anti-corruption drive gains momentun; more
high-profile arrests expected
• South Africa FX reserves Sep-20 [prev. $55.75B]
• South Africa’s Ramaphosa announces economic recovery plan [expected
during the week]
• Nigeria’s Buhari delivers 2021 budget speech (8 Oct)
• 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
• Covid-19 vaccine may be ready by year-end – WHO’s Tedros
• Zimbabwe finance minister says Covid-19 won’t hit economy as hard as elsewhere
• Sudan & main rebel groups formalise peace deal
• Egypt unveils 59 ancient coffins in major archaeological discovery
• South Africa Hawks police not aware of imminent arrest of ANC’s Magashule
• Kidnapped France aid worker’s son cautious on word of her release in Mali
• Braving coronavirus, pilgrims flock to Senegal’s ‘little Mecca’
• Belgium arrests 3 Rwandans in connection with 1994 genocide
• West Africa leaders lift sanctions on Mali
• Mali announces new govt following August coup
• Egypt says GERD dam will begin generating power in next 12 months
• Ethiopia bans flights over dam for security reasons: aviation chief
• Ethiopia’s Oromo celebrate tense thanksgiving amid tight security
• India & South Africa ask WTO to waive rules to aid Covid-19 drug production
• US welcomes transitional govt Mali
• Chevron Nigeria plans to cut 25% of staff after oil price drop

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