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

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