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

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