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

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