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
• 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

• 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

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