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
• 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

• 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

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