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macroafricaintel Daily Brief | 9 Feb

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

Global Markets
• Stocks, oil rise in Asia after US records, dollar weakens
• Bitcoin extends gains above $47,000 in Asia
• Oil climbs to 13-mth highs on output cuts, demand recovery hopes
• Brent up 0.8% at $61.04, WTI up 0.8% at $58.42 (0443GMT)
• Gold gains as dollar extends slide, stimulus hopes firm
• Spot gold up 0.5% at $1,839.02/oz, futures up 0.5% at $1,842.60/oz. (0536GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya parliament resumes; BBI, Ruto impeachment, etc. on agenda
• Nigeria parliament resumes; herder-farmer clashes, crypto ban, etc. on agenda
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback
• Kenya counties debate BBI, some expected to pass bill during the week
• South Africa state capture inquiry continues
• Ghana supreme court rules on Mahama petition (10 Feb)
• South Africa’s Ramaphosa delivers state of the nation address (11 Feb)
• South Africa manufacturing production Dec-20 [act. -1.3% yy, prev. -3.5%] (11 Feb)
• South Africa mining production Dec-20 [act. -0.5% yy, prev. -11.6%] (11 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Nigeria yet to detect South Africa virus variant, to stick with AstraZeneca vaccine
• Ethiopia – ‘People die at home’: Tigray medical services struggle after turmoil of war
• Darfur rebel leaders heads Sudan finance ministry following cabinet shake-up
• Global health officials back AstraZeneca vaccine after South Africa study rings alarm
• Nedbank denies complicity in South Africa corruption, shares fall
• AstraZeneca vaccine has major role to play, South Africa trial lead says
• Somalia opposition cease recognising president as election row escalates
• Global health officials back AstraZeneca vaccine after South Africa study rings alarm
• Flood kills 28 people in illegal factory in Morocco
• South Africa to start covid-19 vaccinations with J&J doses
• Nigeria’s navy to toughen punishment for collusion with kidnappers
• South Africa hopes to get some J&J covid-19 vaccines this week
• Pandemic derails trade for Congo’s disabled border couriers
• African Union must reform to stay relevant – Nigeria’s Buhari
• Exclusive – Angola moves to seize Dos Santos-linked asset in Dutch court

Bloomberg
• Kenya ruling party expels 6 lawmakers in widening rift
• Bitcoin surges past $47,000 for first time after Tesla purchase
• Sudan’s premier adds ex-rebels in sweeping change to govt
• UK officials fear South Africa strain could threaten recovery
• South Africa will stop using AstraZeneca vaccine
• South Africa lawmakers question Eskom on failed housing project
• Nigeria disagrees with advice to devalue naira, IMF says
• Egypt seizes on bond rally with plan to borrow $3 bln
• Kenya Airways ramps up cargo capacity for peak flower season
• South Africa seeks 20 mln J&J vaccines, offered Russia shot
• Tanker leaves Libya port without oil as strikers halt loading

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

macroafricaintel Daily Brief | 8 Feb

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

Global Markets
• Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers
• Asia shares, oil buoyant on economic revival hopes
• Brent strkes $60/bbl as supply cuts, stimulus hopes boost prices
• Brent up 1.1% at $59.98, WTI up 1.1% at $57.50 (0537GMT)
• Gold rises on weaker dollar, US stimulus hopes
• Spot gold up 0.1% at $1,813.96/oz., futures up 0.1% at $1,815.50 (0552GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback [Counties debate BBI, some expected to pass bill during the week]
• South Africa state capture inquiry continues
• Kenya national assembly & senate resume (9 Feb)
• Ghana supreme court rules on Mahama petition (10 Feb)
• South Africa’s Ramaphosa delivers state of the nation address (11 Feb)
• South Africa manufacturing production Dec-20 [act. -1.3% yy, prev. -3.5%] (11 Feb)
• South Africa mining production Dec-20 [act. -0.5% yy, prev. -11.6%] (11 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• South Africa puts AstraZenca vaccinations on hold over variant data
• CEO of Egypt’s Juhayna detained, share price tumbles
• Filling Ethiopia’s Renaissance Dam in July threatens Sudan’s security – minister
• Oxford/AstraZeneca covid shot less effective against South Africa variant: study
• Egypt frees Al Jazeera journalist after 4 years in detention
• Thousands protest in Tunis despite police blockade
• New Libya interim govt agreed in UN talks
• UN official warns of high risk of atrocities in Ethiopia
• Nigeria lifts short-lived Emirates flight suspension
• South Africa’s Ramaphosa says access to concessional loans key to Africa’s recovery
• US throws support behind Okonjo-Iweala to lead the WTO
• Somalia leaders fail to break deadlock over presidential vote
• South Africa says secures vaccines for at least 26 mln people
• MTN Group sees annual earnings nearly doubling on Ghana & Uganda tower sales
• Reshuffle at Congo state miner further entrenches Tshisekedi’s authority
• Nigeria negotiates terms with Big Oil to keep investments
• South Africa looks to curb TB infections amid covid-19 disruptions
• South Africa probe finds evidence of political pressure, fraud in covid-19 contracts
• Nigeria film about northern insurgency aims at Oscar glory
• Nigeria’s candidate for WTO chief looks forward to conclusion of race
• WHO’s covax initiative aims to start shipping 90 mln covid-19 vaccine doses to Africa in Feb

Bloomberg
• Meet the Nigeria corruption cop Lagarde expects will ‘rock’ WTO
• An oil country no more? Algeria’s energy exports sink rapidly
• Ebola resurfaces in previous epidemic zone of Congo, WHO says
• Nigeria central bank says cryptocurrencies were a threat
• South Africa to speed up plans to use J&J covid shot
• New Astra vaccine in development to fight South Africa variant
• Zimbabwe in talks with Russia on covid vaccine, Sunday Mail says
• As new Liby authority takes shape, challenges to peace remain
• Ivory Coast arrests 4 for trafficking children to cocoa growers
• Astra vaccine is less effective against South Africa variant, FT reports
• Somalia faces political crisis without deal over election
• Ghana signs long-awaited post-Brexit trade agreement with UK
• Africa’s virus recovery hinges on access to good loan terms
• Mauritius foreign minister quits over difference with party
• US backs Okonjo-Iweala for WTO now set for first female chief
• South Africa’s power grid downed by rain shows its vulnerability
• Nigeria’s power sector gets $500 mln boost from World Bank
• Libya rivals agree on leadership to govern until elections
• Nigeria central bank orders cryptocurrency accounts to close
• Rising Nigeria central bank yields may signal naira devaluation
• Congo Republic to get 100,000 doses of covid vaccine from China
• Equinor says it wins Nigeria case over Agbami oil profits
• Ecobank Nigeria hires Citi, Mashreq for $300 mln eurobond
• South Africa’s MTN jumps as earnings rise on sale of some tower assets
• South Africa probe identifies blatant abuse of virus resources
• Pastor, ex-ministers to run for president in Republic of Congo
• Coca-Cola said to sell $669 mln South Africa bottling stake
• Zamiba finance minister targets IMF deal before August elections
• Korea minister drops WTO bid, clears ways for Nigeria candidate
• South Africa rand gains as traders see signs of fiscal reprieve

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

macroafricaintel Daily Brief | 5 Feb

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

Global Markets
• Pfizer withdraws application for emergency use of its covid-19 vaccine in India
• World shares close in on record peak as vaccines fuel normalisation hopes
• Dollar outlook still dark, recent strength a blip: Reuters poll
• Oil prices rise to highest in a year on US growth optimism, crude supply restraint
• Brent up 0.7% at $59.24, WTI up 0.8% at $56.65 (0428GMT)
• Gold edges higher; set for worst week in over 2 mths on dollar strength
• Spot gold up 0.1% at $1,794.11/oz., futures up 0.2% at $1,794.70 (0247GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Zero Tolerance for FGM Day (6 Feb)
• South Africa state capture inquiry continues
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback
• South Africa FX reserves Jan-21 [act. $54.8B, prev. $55.0B]
• Africa heads of state meet for 34th AU summit (6-7 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• UK detects South Africa coronavirus variant in people with no travel links
• ‘You chop her’: Uganda recalls brutal upbringing as LRA child soldier
• Congo parliament selects new speaker, boosting Tshisekedi’s power
• South Africa’s biggest debt counsellor sees spike in calls in January
• UN warns Tigray conflict could spark broader destabilization in Ethiopia
• Uganda rebel commander Ongwen convicted for sex crimes, forced pregnancy
• Shell needs to take hard look at Nigeria onshore oil – CEO
• 16 Africa nations interested in AU vaccine plan
• Gunmen kill 9 soldiers in Mali attack, army says
• Kenya school gives 2nd chance to teen mums forced out of classes
• Nigeria film about northeast insurgency aims at Oscar glory
• Nigeria court issues arrest warrant for head of ExxonMobil Nigeria – EFCC

Bloomberg
• Rolls-Royce eyes Africa as new energy market with deals push
• Zambia is done for now with taking over mining companies
• China donates 200,000 covid vaccines to Zimbabwe, president says
• Egypt extends rate pause with eye on global economic risks
• Cheap money is reducing demand from Nigeria firms for IFC loans
• South Africa’s upside revenue surprise may help pay for vaccines
• Investors raise $143 mln fund to target Africa’s food supply
• Gambia record remittances make up for tourism losses, IMF says
• UN security council urges access to war-ravaged Ethiopia region
• Legal showdown ahead in South Africa as Zuma defies court order
• South Africa stocks resist global slump as Sasol extends rally
• China to donate coronavirus vaccines to 3 Africa countries
• South Africa: Johannesburg’s first gas-fired power plants planned by Harith
• South Africa treasury likely to maintain bond auction levels
• Zimbabwe, Zambia hydropower plant upgrade delayed by 2 years

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

macroafricaintel Daily Brief | 4 Feb

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

Global Markets
• Global vaccine trust rising, but France, Japan, others sceptical
• Pentagon, stumped by extremism in ranks, orders stand-down in next 60 days
• Biden decides to stick with Space Force as branch of US military
• Asia stocks ease on China liquidity worries, stimulus hopes lift US bond yields
• Oil climbs after OPEC+ maintains oil output cuts, US stock draw
• Brent up 0.8% at $58.93, WTI up 0.9% at $56.18 (0317GMT)
• Gold, silver ease as dollar holds firm near 2-mth peak
• Spot gold down 0.6% at $1,822.01/oz., futures down 0.6% at $1,823.90 (0330GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa state capture inquiry continues
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback
• UK-Africa fintech summit (virtual; 3-4 Feb)
• South Africa FX reserves Jan-21 [prev. $55.0B] (5 Feb)
• African Union summit (6-7 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• UN warns Tigray conflict could spark broader destabilization in Ethiopia
• ICC to hand down judgement against former Lord’s Resistance Army commander
• IED kills 4 Tunisia soldiers in mountain region
• Botswana must diversify to reduce dependence on diamonds – president
• Uganda orders 18 mln doses of AstraZeneca’s covid-19 vaccine
• Guinea says China will donate 200,000 covid-19 vaccine doses
• Nigeria’s Kaduna pairs with Zipline for drone-delivered covid vaccines
• Bulk of loans in South Africa’s covid crisis scheme to stay untapped, say banks
• Shipbuilder in Mozambique debt scandal says made payments to now-President Nyusi
• South Africa Airways could exit administration this month, govt says
• Children in Burkina Faso undergo historic heart surgeries
• Mobile operator Africell secures Angola telco licence
• Tunisia expects covid-19 vaccines from GAVI alliance mid-Feb – minister
• Uganda opposition say 3,000 of their supporters seized since November

Bloomberg
• Tunisia says it’s now or never for painful overhaul of economy
• Nigeria judge issues arrest warrant for chief of Exxon unit
• Africa to start receiving vaccines from Covax by end of month
• South Africa companies to help fund, facilitate vaccine rollout
• Zambia currency’s 42-day losing streak not about to end
• South Africa’s $13 bln virus stimulus is way short of target
• Moderna offers South Africa vaccines in first for continent
• South Africa panel to lodge criminal complaint against Zuma

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

macroafricaintel Daily Brief | 3 Feb

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

Global Markets
• US stimulus, vaccine progress encourage equity bulls
• Treasury’s Yellen to convene meeting of top regulators on GameStop volatility
• Gold, silver coin demand surging, straining US Mint’s capacity
• Oil rises on falling crude stocks, demand hopes on stimulus & vaccine rollouts
• Brent up 0.3% at $57.62, WTI up 0.2% at $54.87 (0130GMT)
• Silver attempts rebound even as retail sweep wanes; spot up 1.4% to $26.98/oz.
• Spot gold up 0.1% at $1,839.16/oz., futures up 0.4% at $1,840.90 (0052GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• IHS Markit releases Jan-21 Africa PMIs
• 2021 Investing in African Mining Indaba (virtual; 2-3 Feb)
• South Africa state capture inquiry continues
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback
• UK-Africa fintech summit (virtual; 3-4 Feb)
• South Africa FX reserves Jan-21 [prev. $55.0B] (5 Feb)
• African Union summit (6-7 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Egypt arrests father, nurse for female genital mutilation of 15-year old
• Tunisia expects covid-19 vaccines from GAVI alliance mid-February – minister
• Shipbuilder in Mozambique debt scandal says made payments to now – President Nyusi
• Uganda orders 18 mln of AstraZeneca’s covid-19 vaccine
• Egypt receives first shipment of AstraZeneca vaccine, cabinet says
• Libya forum starts voting for country’s interim presidency council
• Congo senators move to oust Kabila ally who heads senate
• Uganda opposition say 3,000 of their supporter seized since November
• Impact of Ethiopia’s debt plan on private creditors not yet clear, says adviser
• UK begins door-to-door testing of 80,000 people to halt South Africa variant
• Mali gold production hits fresh high in 2020
• OPEC experts meet as rising oil prices mask demand worries
• Spain to restrict South Africa, Brazil flights over covid variants, report says
• Ford to invest $1 bln to upgrade South Africa operations
• ‘Oxygen, oxygen, oxygen’: Nigeria battles shortages amid covid-19 surge
• In Algeria mountains, army operation shows persistent militant threat
• Kenya recycles plastic waste into bricks stronger than concrete
• Zimbabwe will have access to China covid-19 vaccine soon, ambassador says
• Africa’s pandemic-hit mining sector faces exploration challenge

Bloomberg
• Naira drops even as Nigeria swoops on exporters for more dollars
• World Bank halts $100 mln payment to Congo amid graft probe
• Ethiopia opposition claims 52,000 dead in northern conflict
• MTN hires Citi, Standard Bank for South Africa tower sale
• Record demand at South Africa’s debt sale defies budget risk
• Ford to spend $1 bln in biggest-ever South Africa investment
• Nigeria oil producer plans to triple output from Shell block
• Biggest Africa data centre firm raises $170 mln for new hub
• Rhino poaching in South Africa falls for sixth consecutive year

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

macroafricaintel Daily Brief | 2 Feb

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

Global Markets
• Asian markets extend gains as sentiment improves on outlook
• All eyes on Alphabet’s first-ever disclosure of Google Cloud profit
• US housing market immune to covid-19 pandemic: Reuters poll
• Oil prices rise as producers commit to output restraint
• Brent up 0.9% at $56.86, WTI up 1% at $54.08 (0134GMT)
• Silver slips from 8-yr peak as investors book profits; spot down 1.7% to $28.48 (0039GMT)
• Spot gold down 0.2% at $1,856.86/oz., futures down 0.3% at $1,858.60/oz.

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• 2021 Investing in African Mining Indaba (virtual; 2-3 Feb)
• South Africa state capture inquiry continues
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback
• UK-Africa fintech summit (virtual; 3-4 Feb)
• Africa PMIs Jan-21 (3 Feb)
• South Africa FX reserves Jan-21 [prev. $55.0B] (5 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• UK detects South Africa coronavirus variant in people with no travel links
• Nigeria expects 41 mln covid-19 vaccine doses from AU
• South Africa’s Denel reports $130 mln loss in 2019/20
• South Africa gets first vaccine doses, bringing relief to health workers
• South Africa mining fatalities rise 18% in 2020 – industry body
• Uganda opposition leader Bobi Wine challenges election result in court
• Ethiopia extends bid times for new telecom licences by a month
• Algeria says it has discussed with Russia producing Moscow’s Sputnik V vaccine

Bloomberg
• Rhino poaching in South Africa falls for 6th consecutive year
• South Africa’s Eskom, Sasol rebuffed, Creecy says as she fights pollution suit
• South Africa secures additional vaccines, eases alcohol ban
• 20,000 refugees missing after Ethiopia camps destroyed, UN says
• OPEC planned output increase is offset by Africa disruptions
• Kenya flower growers need freight capacity for valentine’s day
• UK boosts tests to curb spread of South Africa variant
• Nigeria’s commercial hub begins clinical trial of anti-parasitic Ivermectin
• Ethiopia may engage private creditors after debt review
• Seplat raises $260 mln to complete key Nigeria gas project
• West Africa’s oil exports slump as Nigeria, Angola flows falter
• South Africa set to lift latest ban on alcohol sales as covid infections fall
• Uganda opposition leader Bobi Wine files lawsuit challenging election outcome
• Zuma shuns South Africa graft inquiry in defiance of court order

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

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

macroafricaintel Daily Brief | 29 Jan

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

Global Markets
• The “GameStop effect” could ripple further as Wall Street eyes short squeeze candidate
• Facebook shuts popular stock trading group, small investors behind surge hit by trading curbs
• Equity futures slide on nerves over retail-trading frenzy
• UK bans direct flights from UAE, shutting world’s busiest international route
• Oil steady as supply cuts offset demand worries on stalled vaccine rollouts
• Brent up 4 cents at $55.57, WTI down 7 cents at $52.27 (0520GMT)
• Gold on course for monthly decline as dollar firms
• Spot gold up 0.1% at $1,842.58/oz., futures up 0.2% at $1,844.20 (0326GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana supreme court starts substantive hearing of Mahama election petition
• Kenya’s Council of Governors elects new chairman
• Kenya BBI campaigns intensify; Uhuru meets top Mt Kenya state officials on strategy in Sagana (30 Jan)
• South Africa state capture inquiry continues
• Virtual World Economic Forum (24-29 Jan)
• Bank of Ghana MPC meets [fcst. 14.5%, prev. 14.5%] (26-29 Jan & 1 Feb)
• Kenya inflation Jan-21 [fcst. 5.6% yy (1.0% mm), prev. 6.1% (1.0%)]
• South Africa PSCE Dec-20 [act. 3.6% yy, fcst. 3.6%, prev. 3.4%]
• South Africa M3 Dec-20 [act. 9.5% yy, fcst. 9.5%, prev. 8.2%]
• South Africa trade balance Dec-20 [prev. ZAR36.72B]
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• South Africa trial of Novavax vaccine seen to be 60% effective says head of trial
• First know US cases of potent South Africa covid-19 variant found in South Carolina
• Nigeria repatriates hundreds of migrants from Saudi Arabia
• Story on Uganda army killing Somali militants withdrawn
• African Union secures extra 400 mln vaccine doses
• Toyota South Africa to produce new model creating over 1,500 jobs – CEO
• Death toll from storm Eloise rises to 21 across southern Africa
• Congo prime minister accepts vote of no confidence
• Budget woes mean South Africa doctors jobless while hospitals battle covid-19
• Anger in Somalia as sons secretly sent to serve in Eritrea military force
• South Africa regulator awards Eskom additional 6 bln rand revenue
• South Africa top court orders Zuma to appear before enquiry commission
• South Africa to issue covid-19 vaccine storage, distribution tender
• Africa secures 400 mln more covid-19 vaccine doses
• Hundreds of pelicans found dead in Senegal World Heritage site
• Kenya’s economy shrinks in Q3 2020 as covid hits tourism
• Tunisia president office gets letter with suspicious powder: source
• Uganda conducting clinical trials of possible drug against covid-19 infections – statement

Bloomberg
• Shell is back in court for Nigeria oil spills liability ruling
• AstraZeneca test results on South Africa variant due next week
• Covid variant fueled record infections in Africa, WHO says
• South Africa covid variant detected for the first time in US
• Nigeria central bank to start commodity exchange in 90 days
• Coronavirus variant from South Africa detected in US for first time
• Ethiopia moves artillery to Sudan border after deadly clashes
• Banks ordered to slash costs, placing Tanzania jobs at risk
• Africa covid vaccination plan to cost as much as $15 bln
• Uganda steps up virus response with vaccines, increased testing
• Nigeria manufacturers list dollar shortage as top challenge
• Zimbabwe miners say FX rule could trigger crisis
• Nigeria seen devaluing naira by as much as 10% in 2021, survey shows
• Mobile power ships eye Africa as virus stalls land projects
• South Africa court rules Zuma must testify at graft inquiry
• Deaths from South Africa’s covid-19 resurgence may have peaked
• Swedish fund’s fading Nigeria bet latest sign of foreign exit
• Kenya in first recession since at least 2000 on virus curbs
• Nigeria dependence on central bank money will be hard to cure

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

macroafricaintel Daily Brief | 28 Jan

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

Global Markets
• GameStop, other retail darlings dented after Reddit group briefly shuts doors
• Biden takes sweeping measures to curb climate change, vows job creation
• Asia shares undone by Wall Street swoon, short seller squeeze
• Global oil demand to rise, boosted by vaccine distribution and economy: WoodMac
• Oil falls on demand fears, strengthening dollar
• Brent down 0.7% at $55.45, WTI down 0.6% at $52.52 (0452GMT)
• Gold falls as safe-haven appeal shifts to dollar
• Spot gold down 0.3% at $1,837.67/oz., futures down 0.6% at $1,833.70 (0308GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Central Bank of Kenya’s Njoroge briefs press on MPC decision
• Fitch briefs on SSA sovereigns & banks credit outlook
• South Africa PPI Dec-20 [fcst. 3.1% yy, prev. 3.0%]
• South Africa’s Ramaphosa speaks at virtual 20th NEPAD symposium
• Kenya’s Uhuru & Raila intensify BBI campaigns; duo take on Ruto as process moves to counties
• South Africa state capture inquiry continues
• Virtual World Economic Forum (24-29 Jan)
• Kenya’s Council of Governors elects new chairman (29 Jan)
• Bank of Ghana MPC meets [fcst. 14.5%, prev. 14.5%] (26-29 Jan & 1 Feb)
• Kenya inflation Jan-21 [fcst. 5.6% yy (1.0% mm), prev. 6.1% (1.0%)] (29 Jan)
• South Africa PSCE Dec-20 [fcst. 3.6% yy, prev. 3.4%] (29 Jan)
• South Africa M3 Dec-20 [fcst. 9.5% yy, prev. 8.2%] (29 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Three teens arrested in Denver, US fire that killed 5 Senegal immigrants
• South Africa, hit hard by coronavirus 2nd wave, expects first vaccines Feb. 1
• South Africa’s Ramaphosa urges businesses to contribute financially to Africa’s vaccine rollout
• Former US envoys alarmed by violence and hate speech in Ethiopia
• South Africa Treasury: could cost 20-24 bln rand to vaccinate 40 mln people
• South Africa Airways administrators gets 1.3 bln rand from govt
• South Africa opposition party goes to court to seek vaccine clarity
• South Africa approves AstraZeneca vaccine for emergency use
• Gambia vows to name and shame latest covid-19 quarantine cheats
• Mali says joint military operation with France kills 100 terrorists

Bloomberg
• South Africa’s first vaccine to arrive amid storm of criticism
• Zimbabwe to fund covid-19 vaccines with govt finances
• No food for 100 hours: The state of South Africa health care
• Africa Finance Corp. to more than double lending in virus battle
• Congo govt falls after censure vote in win for president
• South Africa needs big fiscal effort to stabilize debt, IMF says
• Mozambique central bank surprises with 2021’s first rate hike
• South Africa allows use of parasite drug to treat covid patients
• Tanzania president cautions against coronavirus vaccines
• South Africa’s Naspers looking at how to ease dominance of Johannesburg bourse
• Egypt to reopen LNG plant in push to be major European supplier
• West Africa pirates spur ship lines to seek military help
• South Africa stocks slide for 2nd day after IMF cuts growth forecasts
• Vodafone considering options for Ghana in Africa restructuring

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

macroafricaintel Daily Brief | 27 Jan

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

Global Markets
• Global covid-19 cases surpass 100 mln as nations tackle vaccine shortages
• Asia shares slip, Microsoft’s brisk earnings boost tech sector
• US consumer confidence edges higher; house prices accelerate
• China’s industrial profits extend growth in December amid brisk factory recovery
• US judge blocks deportation freeze in swift setback for Biden
• Oil rises as US oil stockpiles drop, new Chinese covid-19 cases decline
• Brent up 0.2% at $56.02, WTI up 0.2% at $52.71 (0229GMT)
• Gold steady ahead of US Fed policy decision
• Spot gold little changed at $1,849.76/oz., futures down 0.1% at $1,848.60 (0031GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Central Bank of Kenya decides interest rates [fcst. 7.0%, prev. 7.0%] 
• Nigeria’s Buhari cabinet meets; after welcome replacement of military chiefs
• Kenya’s Uhuru & Raila intensify BBI campaigns; duo take on Ruto as process moves to counties
• South Africa state capture inquiry continues
• Virtual World Economic Forum (24-29 Jan)
• Bank of Ghana MPC meets [fcst. 14.5%, prev. 14.5%] (26-29 Jan & 1 Feb)
• Fitch briefing on SSA sovereigns & banks credit outlook (28 Jan)
• South Africa PPI Dec-20 [fcst. 3.1% yy, prev. 3.0%] (28 Jan)
• Kenya inflation Jan-21 [fcst. 5.6% yy (1.0% mm), prev. 6.1% (1.0%)] (29 Jan)
• South Africa PSCE Dec-20 [fcst. 3.6% yy, prev. 3.4%] (29 Jan)
• South Africa M3 Dec-20 [fcst. 9.5% yy, prev. 8.2%] (29 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Gambia vows to name and shame lastest covid-19 quarantine cheats
• Nigeria names new military chiefs amid rising militant violence
• Lilly testing new antibody for South Africa coronavirus variant, says company executive
• ‘Everywhere I am in chains,’ says Uganda’s Wine after home arrest lifted
• Pirates kidnap 15 Turkey sailors in attack on container ship off Nigeria
• Stop hoarding covid-19 vaccines, South Africa’s Ramaphosa tells rich nations
• Nigeria central bank holds benchmark lending rate at 11.5%
• Aid workers warn on covid-19 in camps for Mozambique cyclone victims
• Kenya to cut fiscal deficit in 2021/22 to 7.5% of GDP, Treasury says
• Morocco prepares to launch covid-19 vaccination programme
• Tunisia president rejects reshuffle, escalating political crisis
• South Africa plans three renewable energy rounds over coming year

Bloomberg
• Oil companies fear Nigeria plan may deter offshore investment
• South Africa starts $79 mln fund to help tourism industry
• Nigeria central bank chief rebuffs money-printing criticism
• Zimbabwe plans to buy virus shots for two-thirds of population
• Ivory Coast cocoa farmers bemoan bean sales despite good weather
• Uganda’s Bobi Wine demands supporters release after he’s freed
• South Africa cracks down on bitcoin after alleged ponzi scheme
• Tunisia premier promises broad economic reform amid unrest
• Libya oil flow rises on pipeline fix as pay talks continue
• Liberia sees $800 mln ArcelorMittal investment this year
• African Bank reports loss a day after CEO’s surprise resignation
• South Africa stocks post biggest drop this month on Tencent effect
• In Zimbabwe, coronavirus sick told to buy their own ventilators

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