macroafricaintel Daily Brief | 8 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers
• Asia shares, oil buoyant on economic revival hopes
• Brent strkes $60/bbl as supply cuts, stimulus hopes boost prices
• Brent up 1.1% at $59.98, WTI up 1.1% at $57.50 (0537GMT)
• Gold rises on weaker dollar, US stimulus hopes
• Spot gold up 0.1% at $1,813.96/oz., futures up 0.1% at $1,815.50 (0552GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback [Counties debate BBI, some expected to pass bill during the week]
• South Africa state capture inquiry continues
• Kenya national assembly & senate resume (9 Feb)
• Ghana supreme court rules on Mahama petition (10 Feb)
• South Africa’s Ramaphosa delivers state of the nation address (11 Feb)
• South Africa manufacturing production Dec-20 [act. -1.3% yy, prev. -3.5%] (11 Feb)
• South Africa mining production Dec-20 [act. -0.5% yy, prev. -11.6%] (11 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
• South Africa puts AstraZenca vaccinations on hold over variant data
• CEO of Egypt’s Juhayna detained, share price tumbles
• Filling Ethiopia’s Renaissance Dam in July threatens Sudan’s security – minister
• Oxford/AstraZeneca covid shot less effective against South Africa variant: study
• Egypt frees Al Jazeera journalist after 4 years in detention
• Thousands protest in Tunis despite police blockade
• New Libya interim govt agreed in UN talks
• UN official warns of high risk of atrocities in Ethiopia
• Nigeria lifts short-lived Emirates flight suspension
• South Africa’s Ramaphosa says access to concessional loans key to Africa’s recovery
• US throws support behind Okonjo-Iweala to lead the WTO
• Somalia leaders fail to break deadlock over presidential vote
• South Africa says secures vaccines for at least 26 mln people
• MTN Group sees annual earnings nearly doubling on Ghana & Uganda tower sales
• Reshuffle at Congo state miner further entrenches Tshisekedi’s authority
• Nigeria negotiates terms with Big Oil to keep investments
• South Africa looks to curb TB infections amid covid-19 disruptions
• South Africa probe finds evidence of political pressure, fraud in covid-19 contracts
• Nigeria film about northern insurgency aims at Oscar glory
• Nigeria’s candidate for WTO chief looks forward to conclusion of race
• WHO’s covax initiative aims to start shipping 90 mln covid-19 vaccine doses to Africa in Feb

• Meet the Nigeria corruption cop Lagarde expects will ‘rock’ WTO
• An oil country no more? Algeria’s energy exports sink rapidly
• Ebola resurfaces in previous epidemic zone of Congo, WHO says
• Nigeria central bank says cryptocurrencies were a threat
• South Africa to speed up plans to use J&J covid shot
• New Astra vaccine in development to fight South Africa variant
• Zimbabwe in talks with Russia on covid vaccine, Sunday Mail says
• As new Liby authority takes shape, challenges to peace remain
• Ivory Coast arrests 4 for trafficking children to cocoa growers
• Astra vaccine is less effective against South Africa variant, FT reports
• Somalia faces political crisis without deal over election
• Ghana signs long-awaited post-Brexit trade agreement with UK
• Africa’s virus recovery hinges on access to good loan terms
• Mauritius foreign minister quits over difference with party
• US backs Okonjo-Iweala for WTO now set for first female chief
• South Africa’s power grid downed by rain shows its vulnerability
• Nigeria’s power sector gets $500 mln boost from World Bank
• Libya rivals agree on leadership to govern until elections
• Nigeria central bank orders cryptocurrency accounts to close
• Rising Nigeria central bank yields may signal naira devaluation
• Congo Republic to get 100,000 doses of covid vaccine from China
• Equinor says it wins Nigeria case over Agbami oil profits
• Ecobank Nigeria hires Citi, Mashreq for $300 mln eurobond
• South Africa’s MTN jumps as earnings rise on sale of some tower assets
• South Africa probe identifies blatant abuse of virus resources
• Pastor, ex-ministers to run for president in Republic of Congo
• Coca-Cola said to sell $669 mln South Africa bottling stake
• Zamiba finance minister targets IMF deal before August elections
• Korea minister drops WTO bid, clears ways for Nigeria candidate
• South Africa rand gains as traders see signs of fiscal reprieve

N.B. Full stories of above headlines are available on Reuters & Bloomberg

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.