macroafricaintel Daily Brief | 22 Jan

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

Global Markets
• Not company earnings, not data but vaccines now steering investor sentiment
• Wall Street hedges against possible bumps in US vaccine rollout
• Asia markets step back from stimulus-driven record highs
• US labour market recovery fading; housing, factories underpin economy
• Oil prices fall as China’s surging covid-19 cases trigger clampdowns
• Brent down 0.8% at $55.65, WTI down 1% at $52.60 (0445GMT)
• Gold eases as yields tick up, but set for best week in five
• Spot gold down 0.3% at $1,863.56/oz., futures down 0.1% at $1,863.90 (0233GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa’s ruling ANC NEC holds virtual “lekgotla” (22-24 Jan)
• South Africa’s Eskom reduces load in some parts of country
• CAR declares state of emergency to combat rebels
• Nigeria central bank decides interest rates [fcst. 11.5%, prev. 11.5%] (25-26 Jan); Ghana & Kenya central bank MPCs meet next week as well
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Africa’s Covid-19 case fatality rate surpasses global level
• CAR declares state of emergency to combat rebels
• UK bans passengers from Tanzania, DRC to control spread of covid variant
• Nigeria appeals court throws out blasphemy convictions that caused outcry
• Egypt & Qatar agree to resume diplomatic ties, Cairo says
• South Africa presidency minister, former ANC activist Jackson Mthembu dies from covid-19
• Journalist shot dead in Ethiopia’s Tigray – aid worker, residents
• South Africa to pay $5.25 a dose for AstraZeneca vaccine from India’s SII
• Namibia govt supports calls to boycott Shoprite amid wage standoff
• Ethiopians dying, hungry and fearful in war-hit Tigray: agencies
• Ivory Coast appoints Mars executive to lead cocoa initiative
• Ivory Coast says delivery of its first doses of Pfizer vaccine delayed to mid-Feb
• Bovac to distribute vaccines to South Africa healthcare workers – letter
• Zambia expects to find new Mopani investor by year-end, IMF examines Glencore transaction
• Kenya reports two cases of new coronavirus variant first seen in South Africa
• South Africa’s Massmart posts lower Q4 sales on softer Black Friday, signs deal with Genpact

Bloomberg
• South Africa’s vaccine holdup heaps pressure on Ramaphosa
• India begins covid-19 vaccine exports to Brazil, Morocco
• South Africa: Gold Fields hires CEO who may fix troubled giant mine
• South Africa stocks set record as CEO news boosts Gold Fields
• Africa trade pact secures $1 bln to offset revenue losses
• Ethiopia denies Somalia forces involved in fighting in Tigray
• Kenya bourse eyes incubator for record listings this year
• Sudan to spend 60% more in 2021 in its bid for economic growth
• Libya to lean on foreign oil firms to fix rotting infrastructure
• South Africa holds key rate and signals hiking may start sooner
• South Africa perplexed over inertia in Mozambique crisis
• Nigeria now expects first covid-19 vaccine doses in February
• Eskom’s biggest union blames CEO for South Africa’s power cuts

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

macroafricaintel Daily Brief | 21 Jan

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

Global Markets
• Asia stocks at record highs as Biden inauguration lifts stimulus hopes
• Biden swiftly begins sweeping away Trump’s immigration barriers
• Biden announces return to global climate accord, new curbs on US oil industry, revokes KXL permit
• Dollar on back foot as Biden optimism bolsters riskier currencies
• Oil dips after surprise rise in US crude stocks; focus on Biden, stimulus
• Brent down 0.4% at $55.86, WTI down 0.5% at $53.07 (0500GMT)
• Gold scales 2-wk high as dollar slips on stimulus optimism
• Spot gold up 0.1% at $1,872.25/oz., futures up 0.3% at $1,871.70 (0308GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya IEBC publishes verified BBI signatures
• South Africa central bank decides interest rates [fcst. 3.5%, prev. 3.5%]
• World Bank hosts East Asia – Africa policy dialogue
• South Africa public protector Mkhwebane faces perjury charges
• South Africa retail sales Nov-20 [fcst. -4.9% yy, prev. -1.8%]
• UK foreign secretary Raab visits Kenya (from 20 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Ethiopians dying, hungry and fearful in war-hit Tigray: agencies
• 43 Africans drown off Libya in first Mediterranean shipwreck of 2021 – UN
• Nigeria restaurants struggle as inflation compounds pandemic impact
• Egypt & Qatar agree to resume diplomatic ties, Cairo says
• Intensifying insurgency drives Mozambique humanitarian crisis
• UK helps Kenya prepare to rollout covid-19 vaccine
• South Africa experts urge govt to lay out covid-19 vaccine plan
• Tunisia protesters revive ‘Arab Spring’ chant, riots continue
• Kenya to save 27 bln shilling from China debt service suspension deal
• Covid-19 shots to cost $3 to $10 under AU vaccine plan
• Zimbabwe foreign minister dies after contracting covid-19
• Dam down, water supplies failing in Ethiopia’s conflict-hit Tigray
• Ivory Coast cocoa backlog threatens forward sales, sector sources say

Bloomberg
• Nigeria reopens schools after lockdown triggered spike in dropouts
• CDC Group targets $1 bln of Africa investments in 2021
• South Africa’s vaccine holdup heaps pressure on Ramaphosa
• Egypt to toughen penalties for FGM
• South Africa study into new virus strain raises vaccine fears
• South Africa wealth tax could raise $10.7 bln, study shows
• China delays $245 mln of Kenya govt debt payments

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

macroafricaintel Daily Brief | 20 Jan

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

Global Markets
• Biden to assume US presidency amid deep division and raging pandemic
• Alibaba’s Jack Ma makes first live appearance in 3 months in online meet
• Biden intelligence pick favors ‘aggressive’ stance on China threat
• Asia shares hit a record high after Yellen calls for big spending
• Brent up 0.3% at $56.09, WTI up 0.3% at $53.15
• Gold gains as dollar weakens on US stimulus outlook
• Spot gold up 0.6% at $1,850.66/oz., futures up 0.5% at $1,850 (0604GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana’s Akufo-Addo to announce new cabinet; appoints new staffers
• South Africa inflation Dec-20 [fcst. 3.1% yy, prev. 3.2%]
• PM Johnson hosts UK-Africa investment conference
• Nigeria governors meet on covid-19 2nd wave
• South Africa retail sales Nov-20 [fcst. -4.9% yy, prev. -1.8%] (21 Jan)
• South Africa central bank decides interest rates [fcst. 3.5%, prev. 3.5%] (21 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• EU eyes scheme to share surplus covid-19 vaccines with poorer nations
• Violence flares for third day in Sudan’s Darfur
• Dozens of migrants scale fence into Spain’s Melilla enclave
• Macron opens door to France pulling some troops out of Sahel
• Tunisia protesters revive ‘Arab Spring’ chant, riots continue
• Nigeria to seek covid-19 vaccines less dependent on cooling facilities – official
• Liberia’s Johnson Sirleaf discouraged by covid vaccine rollout plan
• Vedanta Resources settles Zambia copper mine pollution claim
• Kenya braces for return of devastating locust swarms
• Cash-strapped Zambia takes on $1.5 bln debt to buy Glencore copper mine
• Uganda accuses US envoy of subversion for trying to visit candidate
• Violence create food crisis in northern Mozambique – WFP
• Nigeria’e exhausted medics keep waiting for covid-19 vaccines
• Rwanda re-imposes strict lockdown in capital after covid-19 cases surge
• Young Tunisians clash with police days after revolution anniversary
• Striking Ivory Coast cocoa growers threaten to block deliveries
• Nigeria requests 10 mln covid-19 vaccine doses from AU

Bloomberg
• Oxygen demand in Nigeria’s biggest city jumps as covid-19 spikes
• Uganda opposition leader Bobi Wine confined at home
• Macron signals he’s set to scale back France mission in Africa
• US imposes visa restrictions on Tanzania officials over vote
• Tunisia premier labels unrest ‘criminal’ as protests rage on
• Fourfold pay hike offer falls short of Zimbabwe banker demands
• Nigeria’s biggest bank picks 8 Africa nations for expansion
• Africa private equity has $2 bln cash pile after virus dip
• Libya forum agrees on way to select transitional govt
• New year, old problems see South Africa yield curve steepen
• Piracy pays in Africa’s Gulf of Guinea
• Algeria to take axe to spending as energy revenues tumble
• Ramaphosa’s nemesis clings to South Africa ruling party post
• Chevron to invest in pipelines to send Israel gas to Egypt
• Glencore seals Zambia copper sale but must wait for the cash
• Sudan races to quell Darfur violence in test for govt
• Rebel attack heightens risk of war in Russia’s Africa ally CAR
• South Africa’s new virus strain is 50% more infectious
• Uganda’s election loser now has the world’s attention
• Ethiopia pulls Tigray party license ahead of June elections

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

macroafricaintel Daily Brief | 19 Jan

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

Global Markets
• Asia shares look to China for recovery lead, earnings in focus
• IMF chief sees ‘high degree of uncertainty’ in global outlook
• Yellen says US must ‘act big’ on next coronavirus relief package
• Outlook darkens for Wall Street as Biden’s regulators take shape
• US asks Australia to scrap proposed laws to make Facebook, Google pay for news
• Brent edges up as optimism over economy trumps demand concerns
• Brent up 0.3% at $54.92, WTI down 0.2% at $52.25 (0150GMT)
• Gold gains as dollar eases off 4-wk high
• Spot gold up 0.2% at $1,840.81/oz., futures up 0.5% at $1,839.40 (0226GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana supreme court begins hearing of Mahama election petition
• South Africa mining production Nov-20 [fcst. -4.0% yy, prev. -6.3%]
• South Africa inflation Dec-20 [fcst. 3.1% yy, prev. 3.2%] (20 Jan)
• PM Johnson hosts UK-Africa investment conference (20 Jan)
• Nigeria governors meet on covid-19 2nd wave (20 Jan)
• South Africa retail sales Nov-20 [fcst. -4.9% yy, prev. -1.8%] (21 Jan)
• South Africa central bank decides interest rates [fcst. 3.5%, prev. 3.5%] (21 Jan)
• Nigeria central bank MPC meets (25-26 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Malawi to close schools, make bars shut early to curb pandemic
• Violence flares for third day in Sudan’s Darfur
• China says its ready to help Kenya deal with its debt challenges
• Vaccine nationalism puts world on brink of ‘catastrophic moral failure’: WHO chief
• Uganda opposition says troops raid its offices amid election challenge
• CAR top court confirms President Touadera’s re-election
• Ghana president warns of health system overload as covid cases soar
• South Africa is promised 9 mln J&J vaccine shots – Business Day

Bloomberg
• Africa central bankers out of policy space to fight recessions
• Ivory Coast cocoa farmers strike as unsold beans pile up
• South Africa mining dealmaker plots M&A push before retirement
• Bobi Wine faces uphill slog to overturn Uganda election outcome
• Deadly fighting rocks Sudan’s Darfur after peacekeeping mission ends
• China in talks with Kenya for debt relief after Paris Club deal
• South Africa opposition demands clarity on vaccine strategy
• Mozambique president hands control to army in insurgency battle
• Zimbabwe banks shut 17% of branches as virus drives digitization
• Hundreds arrested in Tunisia protests as PM plans new cabinet

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

macroafricaintel Daily Brief | 18 Jan

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

Global Markets
• America braces for violent protests, crowds remain thin
• China’s economy picks up speed in Q4, ends 2020 in solid shape after covid-19 shock
• Asia shares pare losses as China economy rebounds
• Oil drops 1% as rising coronavirus cases end supply-led rally
• Brent down nearly 1% at $54.65, WTI down nearly 1% at $51.93 (0207GMT)
• Gold recovers as US stimulus prospects offset firm dollar
• Spot gold up 0.6% at $1,837.21/oz., futures up 0.3% at $1,835.70 (0559GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya’s Uhuru & Raila start aggressive BBI campaign; to counter Ruto “wheelbarrow” rallies
• Schools resume in Nigeria, Ghana; after covid-19 closures
• South Africa SACCI business confidence Dec-20 [prev. 93.4]
• South Africa mining production (19 Jan), CPI (20 Jan), retail sales (21 Jan)
• South Africa central bank decides interest rates [fcst. 3.5%, prev. 3.5%] (21 Jan)
• Nigeria central bank decides interest rates [fcst. 11.5%, prev. 11.5%] (22 Jan)
• South Africa’s Eskom implements stage 2 loadshedding
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• Ghana president warns of health system overload as covid cases soar
• Egypt unveils 3000-yr old coffins in latest archaeological discovery
• Tunisia PM appoints new ministers in sweeping cabinet reshuffle
• Uganda opposition party says it will challenge election result; two dead in protests
• At least 48 dead in militia attack in El Geneina, West Darfur – SUNA
• UK calls for concerns over Uganda election to be investigated
• Libya talks make progress towards new temporary govt, UN says
• Uganda main opposition presidential candidate says blocked by military from leaving compound
• WHO stops short of advising proof of covid-19 shots for travel
• EU suspends Ethiopia budget support over Tigray crisis
• South Africa scientists discover new chemicals that kill malaria parasite
• WHO sees poorer countries getting first covid vaccines this quarter
• Zambia hires communication adviser over debt restructuring
• Libya releases bodies found in mass grave for burial
• UN security council approves new UN Libya mediator
• Trump receives Morocco’s highest award for Middle East work: official
• Tunisia police clash with protesters after police beating
• Kenya Airways plans more pay cuts due to pandemic – memo
• EU suspends Ethiopia budget support over Tigray crisis
• Namibia suspends poultry imports from 10 European countries due to bird flu
• South Africa’s mining industry to support covid-19 vaccine rollout
• AU vaccines to be allocated according to population
• Kenya remittance inflows jump by nearly 11% in 2020 to $3 bln – cenbank
• Nearly 60,000 have fled CAR violence: UN
• IMF hopes to present Kenya program to its board in early 2021

Bloomberg
• South Africa treasury considers tax hike to fund vaccines: Business Day
• JP Morgan strategists say $40,000 is key test for bitcoin boom
• Eskom extends South Africa power cuts due to lack of capacity
• Benin’s president to seek new mandate in April polls, RFI says
• Death toll from violence in Sudan’s West Darfur rises to 48
• Libya oil output drops as pipelines creak from war-era neglect
• Conflict-ravaged Libya inches closer to new unity govt
• Record kidnappings draw Maersk call for action in Gulf of Guinea
• Nigeria govt hasn’t yet bought any coronavirus vaccines
• Uganda leader Museveni clinches sixth straight election win
• Futuregrowth sees South Africa Land Bank as threat to state lending
• Exhausted nurses toil on South Africa wards full of virus cases
• Nigeria’s big oil-refining revamp gets off to a slow start
• Uganda opposition leader Bobi Wine says home under army siege
• Eskom forecasts power shortages in South Africa through April
• Zimbabwe health minister denies hospitals overwhelmed by virus

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

macroafricaintel Daily Brief | 15 Jan

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

Global Markets
• Wall Street cheers Biden’s $1.9 tln rescue package for hard-hit economy
• US says Capitol rioters meant to ‘capture and assassinate’ officials – filing
• Asia shares turn lower as recovery concerns resurface
• China steals march on West in developing nations’ vaccine rollout
• Oil mixed as China lockdowns raise demand questions
• Brent down 3 cents at $56.69, WTI up 12 cents at $53.69 (0133GMT)
• Gold rises on US stimulus hopes, dovish Fed stance
• Spot gold up 0.1% at $1,848.75/oz., futures flat at $1,851 (0548GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Uganda counts votes of general elections
• Ghana parliament makes determination on division in hung parliament
• Kenya’s Nairobi MCAs vet governor nominee Kananu; subject to court ruling
• Nigeria inflation Dec-20 [fcst. 15.8% yy, prev. 14.9%]
• South Africa’s Eskom implements stage 2 loadshedding (14-17 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• 46 civilians feared killed in eastern Congo attack, official says
• Major violations of international law at Tigray refugee camps: UN
• UN calls for probe into Camerron army attack on civilians
• Ugandans choose between longtime leader and popstar politician
• South Africa’s Pick n Pay CEO Brasher to retire in April
• Africa cannot relax now Covid-19 vaccines are coming, health boss says
• Emirates temporarily suspends flights to South Africa
• 3 UN peacekeepers killed, 5 wounded in Mali attack
• AU secures 270 mln covid-19 vaccine doses from manufacturers
• Cameroon army killed civilians in village raid, witnesses and lawyer say
• Uganda orders internet blackout until further notice – MTN
• South Africa central bank to hold repo at record low through 2021
• Darfur displaced fearful as UN peackeepers hand over to local forces

Bloomberg
• Mysterious Ethiopia wheat deals complicate fight against hunger
• South Africa sees vaccine deal terms finalized within a month
• Liquidators want more power to probe South Africa bitcoin trader
• Sudan to work with South Sudan in bid to double oil production
• South Africa miners can scale up vaccination, Sibanye says
• Bank’s assets targeted over Shell’s $479 mln Nigeria debt
• South Africa may restart covid unemployment relief, unions say
• AU secures 270 mln vaccines from 3 drugmakers
• Nigeria’s Lagos boosts infrastructure spend after youth protests
• Mozambique pushes for Total to restart $20 bln project
• South Africa power cuts expected for days as new plant fails
• Nigeria plans covid-19 vaccination for 40% of population in 2021
• Researchers detect covid-19 variant unique to Kenya, Nation says

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

macroafricaintel Daily Brief | 14 Jan

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

Global Markets
• Asia shares make cautious gains after Wall Street rises as US yields fall
• Dollar extends rebound as investors await US stimulus details, bitcoin bounces
• Twitter CEO says banning Trump was right decision but sets dangerous precedent
• House votes to impeach Trump again
• Oil price dip on rise in virus cases; US stock draw checks losses
• Brent down 5 cents at $56.01, WTI down 1 cent at $52.90 (0124GMT)
• Gold rises on inflation bets ahead of Biden unveiling stimulus
• Spot gold up 0.3% at $1,848.07, futures down 0.4% at $1,847.70 (0054GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Uganda holds general elections
• Ghana supreme court hears Mahama petition
• South Africa state capture inquiry continues
• Nigeria inflation Dec-20 [fcst. 15.8% yy, prev. 14.9%]
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Uganda orders internet blackout until further notice: MTN
• 3 UN peacekeepers killed, 6 wounded in Mali attack
• Cameroon army killed civilians in village raid, witnesses & lawyer say
• Ethiopia says ex-foreign minister killed by military after refusing to surrender
• Sudan’s Darfur displaced fearful as UN peacekeepers hand over to local forces
• US senators call for release of journalists in Ethiopia
• Over 80 killed in attack in Ethiopia border region with Sudan – state rights commission
• IMF approves $34.4 mln disbursement for CAR
• Gulf of Guinea pirate kidnappings hit record in 2020
• Sudan says Ethiopia military aircraft crossed border
• US cancels its observation of Uganda presidential election
• Data on AstraZeneca vaccine and South Africa variant should come soon, UK expert says
• Ethiopia warns Sudan it is running out of patience over border dispute
• Senegal in talks to buy covid vaccine from China’s Sinopharm, says minister
• Bullets and panic: rebels attack CAR capital
• Steinmetz denies corruption in Guinea case; says he was not in charge
• Nigeria senate president vows action on long-delayed oil reform law
• Tech investors eye Africa’s education & financial sectors

Bloomberg
• UN calls for probe into France raid that killed 19 in Mali
• Seychelles struggles to pay wages as covid-19 hits tourism
• Uganda authorities step up security ahead of fraught elections
• Zimbabwe trade data offer glimmer of hope to beleaguered economy
• Sudan says Ethiopia plane breached border
• AU secures about 300 mln covid-19 vaccines
• Zimbabwe invites tenders for oxygen supply as covid cases surge

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

macroafricaintel Daily Brief | 13 Jan

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

Global Markets
• Asia shares make cautious gains after choppy Wall Street session
• Three House Republicans declare support for impeaching Trump
• Dollar rally runs out of puff as yields ease
• Oil prices extend gains after US inventory drop
• Brent up 0.8% at $57.05, WTI up 0.8% at $53.61 (0128GMT)
• Gold inches higher as dollar, treasury yields pull back
• Spot gold up 0.1% at $1,856.86/oz., futures up 0.8% at $1,858.10 (0052GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa retail sales Nov-20 [fcst. -4.9% yy, prev. -1.8%]
• South Africa state capture inquiry continues
• Uganda holds general elections (14 Jan)
• Ghana supreme court hears Mahama petition (14 Jan)
• Nigeria inflation Dec-20 [fcst. 15.8% yy, prev. 14.9%] (14 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Ethiopia warns Sudan it is running out of patience over border dispute
• Kenya drops charges against officials due to testify against ex-finance minister
• Covid-19 kills 2 Malawi cabinet ministers
• Uganda orders all social media to be blocked – letter
• Nigeria working on type and quantity of covid-19 vaccines to procure, minister says
• Uganda bans social media ahead of presidential election
• Botswana’s Debswana terminates mining contract with Australia’s Thiess
• In Senegal, lack of cold storage limits covid vaccine options
• Nigeria’s Dangote Cement pays $25.6 mln in first buyback tranche
• Senegal’s hospitals stretched as covid infections surge
• Guardians of Congo’s gorillas unbowed as ambushed colleague is buried
• South Africa secures 20 mln covid-19 vaccines, Ramaphosa says

Bloomberg
• Canada lawmaker seeks probe of WE charity’s Kenya operations
• Russia wheat tax risk spooks traders, roiling Egypt tender
• Gas-rich Mozambique, Tanzania rally to end insurgency
• Beny Steinmetz pressed on Guinea deals on 2nd day of bribery trial
• Uganda pop star Bobi Wine pins election hopes on tech, youth
• Nigeria hospitals struggling to cope with surge in covid cases
• Paris club delays $300 mln Kenya debt service dues
• Niger is halfway to a smooth democratic transition
• IMF to disburse $488 mln to Angola as it seeks to curb debt

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

macroafricaintel Daily Brief | 12 Jan

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

Global Markets
• Democrats push impeachment Wednesday, FBI warns of armed protests ahead of inauguration
• Stocks pause for breath as bond selloff extends
• US bank quarterly profits expected to fall again from pre-covid levels
• Oil prices dip on rising virus cases; expected stock draw stems losses
• Brent down 0.2% at $55.56, WTI down 0.2% at $52.17 (0500GMT)
• Gold steadies as weaker stocks offset stronger dollar, bond yields
• Spot gold little changed at $1,845.19/oz., futures down 0.3% at $1,845.90 (0037GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria finmin Ahmed presents details of 2021 appropriation act
• South Africa manufacturing production Nov-20 [fcst. -1.3% yy, prev. -3.4%]
• South Africa state capture inquiry continues
• South Africa retail sales Nov-20 [fcst. -4.9% yy, prev. -1.8%] (13 Jan)
• Uganda holds general elections (14 Jan)
• Ghana supreme court hears Mahama petition (14 Jan)
• Nigeria inflation Dec-20 [fcst. 15.8% yy, prev. 14.9%] (14 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• IMF says board approves $487.5 mln disbursement to Angola
• In Senegal, lack of cold storage limits covid vaccine options
• South Africa secures 20 mln vaccines from manufacturers, Ramaphosa says
• World Bank to invest $5 bln in 11 Africa countries
• Paris Club of international creditors accept Kenya debt relief request
• Facebook takes down Uganda pro-Museveni accounts ahead of election
• Africa free trade tariff rules should be completed by July – official
• Guinea: Steinmetz trial on corruption charges opens in Geneva
• 3-way talks on Ethiopia dam reach new impasse
• Uganda presidential election pits Museveni against popular singer
• Seychelles rolls out covid-19 vaccination using China’s Sinopharm, says president’s office
• Zambia president dismisses health minister, no reason given

Bloomberg
• IMF to disburse $488 mln to Angola as it seeks to curb debt
• South Africa extends alcohol ban, curbs travel amid virus surge
• Credit Suisse’s former CEO Thiam to start blank-check firm
• J&J plans to submit South Africa vaccine trial data by Jan. 21
• Virus resurgence leaves South Africa at risk of oxygen shortfall
• Almost half of South Africa’s oil refining seen shut until 2022
• Africa exceeds 3 mln covid-19 cases, 30% in South Africa

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

macroafricaintel Daily Brief | 11 Jan

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

Global Markets
• ‘No one cares. At all’ Trump staff lurch toward the end
• US House will vote to urge Trump declared incapable before impeachment: Pelosi
• Asia stocks near highs, yields up on US stimulus risk
• Oil prices fall on renewed coronavirus concerns as China cases mount
• Brent down 1.2% at $55.34, WTI down 0.8% at $51.80 (0439GMT)
• Gold hits near 6-wk low on firmer dollar, higher treasury yields
• Spot gold down 0.7% at $1,835.96/oz., futures flat at $1,835.60 (0259GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ethiopia tripartite GERD talks resume; already at an impasse
• South Africa state capture inquiry resumes
• COP26 virtual climate roundtable
• South Africa SACCI business confidence Dec-20 [prev. 93.4]
• Nigeria finmin Ahmed presents details of 2021 appropriation act (12 Jan)
• South Africa manufacturing production Nov-20 [fcst. -1.3% yy, prev. -3.4%] (12 Jan)
• South Africa retail sales Nov-20 [fcst. -4.9% yy, prev. -1.8%] (13 Jan)
• Uganda holds general elections (14 Jan)
• Ghana supreme court hears Mahama petition (14 Jan)
• Nigeria inflation Dec-20 [fcst. 15.8% yy, prev. 14.9%] (14 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• Ethiopia military says it killed 15 members of rebellious Tigray forces, captured 8 others
• 3-way talks on Ethiopia dam reach new impasse
• 6 Virunga Park rangers killed in eastern Congo ambush
• Irish health officials believe South Africa covid-19 variant contained
• France warplanes fly over CAR amid rebel offensives
• Ethiopia women raped in Mekelle, says soldier
• Ghana receives offshore LNG terminal in first for sub-Saharan Africa
• South Africa testing vaccines on variant, hopes for results within 2 weeks
• Gambia seizes 3 tonnes of cocaine in one of West Africa’s largest busts
• At least 13 dead as suicide bomber, gunmen attack town in Cameroon – UN
• Scientists surprised to discover two dwarf giraffes in Namibia, Uganda
• Almost 2.3 mln people need aid in Ethiopia’s Tigray – UN report
• Tanzania’s president asks China to forgive some outstanding debts
• Uganda police chief: beating of reporters for their own good
• Vodacom and MTN telecommunications towers burnt in South Africa by 5G protesters
• Zimbabwe journalist arrested for third time in 6 months
• South Africa’s two biggest pharmacies plan to offer covid-19 vaccines
• Nigeria oil firm Lekoil fights top shareholder over board
• Sudan cabinet approves 2021 budget

Bloomberg
• Satellite images show Ethiopia carnage as conflict continues
• Wheat exporters in Australia look beyond China to north Africa
• Talks over Ethiopia’s Nile dam hit another deadlock, Egypt says
• Africa exceeds 3 mln covid-19 cases, 30% in South Africa
• Algeria president returns to Germany to complete treatment
• South Sudan’s main power provider closes over lack of dollars
• Egypt inflation eases to lowest since October on food prices
• Zambia fuel subsidy boost hurts chances of winning over IMF
• Tanzania asks China for debt write-off, approves rail deal
• Senegal sees 2023 start for $4.8 bln BP-backed project
• South Africa’s ANC sees land expropriation clause this year
• War-torn Ethiopia region still wracked by fighting, UN says
• Glencore is close to selling troubled Zambia copper mine
• Outlook bleak for Nigeria bonds with real yields firmly negative
• Less than one third of Kenyans would vote to change constitution
• South Africa factory mood drops to 5-mth low on virus 2nd wave
• US consortium buys majority stake in South Africa rugby team

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