#Africa #Markets | 17 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares wobble amid trade, geopolitical tensions; focus on Fed meeting
  • European shares seen opening higher
  • Dollar index holds near 2-wk high after solid US retail data
  • Investors await upcoming FOMC: BoJ, BoE also meet this week
  • Bitcoin jumps to 13-mth high

Oil Markets

  • Oil prices climb after tanker attacks stoke Middle East tensions
  • Brent up by 0.2%, WTI gains 3 cents
  • Pompeo says all options available on tanker issue
  • Brent up 14 cents at $62.15 a barrel (0645GMT)
  • WTI up 3 cents at $52.54 a barrel

Precious metals

  • Gold prices subdued on firmer dollar; Fed meeting in focus
  • SPDR Gold holdings rise 0.6% on Friday
  • Spot gold down 0.2% at $1,338.86 per ounce (0549GMT)
  • US gold futures down 0.2% at $1,343.90 an ounce

Grains

  • Corn jumps 2% to hit 5-yr high on crop uncertainty
  • Most active CBOT wheat futures up 0.5% at $5.41-1/4 per bushel (0029GMT)
  • Most active corn futures up 2.2% at $4.62-3/4 per bushel
  • Most active soy futures up 1.2% at $9.07-1/2 per bushel
  • Most active rice futures down 0.3% at $11.61 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • South Africa youth day; public holiday
  • US-Africa Business Summit in Maputo, Mozambique; 18-21 Jun [Trump’s “Prosper Africa” initiative to be launched]
  • South Africa state capture inquiry & PIC inquiry resume tomorrow; 18 Jun

Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Airtel Africa expects London IPO to be priced between 80-100 pence share
  • In Algeria, conservatives weigh in against pressure for Western-style democracy
  • Cairo’s “mother of Egyptian musuems” set for revamp
  • Egypt in $500 mln settlement with Israel Electric Corp – statement
  • Sudan’s Bashir charged with corruption, in 1st appearance since April
  • Egypt’s state-owned Banque du Caire net profit surges
  • Former Algerian officials questioned over corruption – TV
  • Four Cameroon police killed by suspected seperatist bomb – govt
  • Armed gang kills at least 34 in northwest Nigeria, police say
  • South Africa youth unemployment a “national crisis” – president
  • French, Malian forces kill 20 militants in operation – Mali army
  • Algeria partner of Germany’s VW questioned in corruption case – state TV
  • Saudi energy minister hopes OPEC agrees to extend production cut “early July”
  • Ousted Sudan president to be sent for trial soon, prosecutor says
  • Morocco’s sale of 8% stake in Maroc Telecom to pump $920 mln into state budget
  • WHO panel decides not to declare international ebola emergency
  • Libya-Norway fertilizer venture to restart operations shortly – NOC
  • Senegal police detain protesters amid outcry over gas deal
  • Distrust between Sudan parties makes direct talks impossible – US official
  • Nigeria to shut bank accounts of firms which import FX restricted goods
  • Investors that don’t pay taxes should be kicked out of Zambia – Lungu
  • Africa Crude – Some July Angolan clears in spot activity
  • Celebrating arrests, but still pushing for change, protesters rally in Algeria
  • Ghana, Ivory Coast cocoa floor price seen as small step toward ending child labour
  • Uganda shilling unchanged as appetite slows
  • South Africa AMCU union seeks $1,145 monthly basic wage in pay talks
  • Kenya shilling weakens against the dollar
  • Spotlight gives hope to Africa’s hunted albinos
  • South Africa’s Omnia flags full-year loss

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

#Africa #Markets | 14 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks sag ahead of China data, Gulf attacks support oil
  • European stocks expected to open slightly higher
  • MSCI Asia-Pacific index dips 0.3%, Nikkei adds 0.3%
  • Market focus on China industrial production, retail sales
  • Caution seen prevailing ahead of Fed’s meeting next week
  • Spot gold near 14-mth highs

Oil Markets

  • Brent oil rises for 2nd day after Middle East tanker attacks
  • Tanker attacks raise threat to supplies from Middle East
  • Brent, WTI still heading for weekly declines
  • OPEC cuts forecast for growth in global oil demand
  • Brent up 0.4% at $61.54 a barrel (0638GMT)
  • WTI down 1 cent at $52.27 a barrel

Precious metals

  • Gold breaks above $1,350 level as growth woes lift safe-haven demand
  • Gold up 1.1% so far this week, set for 4th weekly gain
  • Palladium on track for best week in nearly 9 months
  • Silver hits 1-wk high
  • Spot gold up 1.0% at $1,355.49 per ounce (0749GMT)
  • US gold futures up 1.2% at $1,359.50 an ounce

Grains

  • Corn hits near 4-yr high, set to finish week up 7%
  • Most active CBOT wheat futures up 0.2 pct at $5.36-1/2 per bushel (0103GMT)
  • Most active corn futures up 0.5% at $4.44-1/4 per bushel
  • Most active soy futures up 0.1% at $8.89 per bushel
  • Most active rice futures up 0.2% at $11.67 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • SDGs Implementation in Africa conference in Kigali, Rwanda; Zambia’s Lungu attending (12-14 Jun) #SDGs3YearJourney @SDGCAfrica
  • WHO emergency committee to meet on ebola
  • South Africa’s EFF June 16 lecture on Sunday; Malema keynote speaker
  • AfDB 2019 annual meetings in Malabo, Equatorial Guinea; 11-14 Jun
  • South Africa’s Ramaphosa 3-day cabinet lekgotla; day 3
  • Togo-EU economic forum in Lome; 13-14 Jun
  • South Africa state capture inquiry continues
  • Eisenhower Fellowships Africa regional conference in Kigali, Rwanda; 14-16 Jun. Kagame opening speech
  • 9th AIDS conference in Durban, South Africa; Deputy President Mabuza closing speaker

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Spotlight gives hope to Africa’s hunted albinos
  • South Africa’s rand steady as investors mull developments ahead of long weekend
  • South Africa’s Omnia flags full-year loss
  • Sudan’s military rulers say several coup attempts thwarted
  • Egypt hikes fare on third Cairo metro line
  • Soccer – China beat South Africa to send Germany and France though
  • Egypt condemns attack on oil tankers in Gulf of Oman – foreign ministry
  • Athletics – South Africa’s Semenya denied entry into Rabat 800 metres race
  • Mali president visits Dogon village where dozens killed
  • Sudan military rulers say they rejected proposal from Ethiopia PM to hold negotiations in Addis Ababa
  • Kenya to raise capital gains tax to shore up revenues
  • Sudan officers detained in connection with dispersal of sit-in – military council
  • Family sent back to DR Congo after two die of ebola in Uganda
  • Libya parliament chief allied to Haftar rules out talks before Tripoli captured
  • Algeria ex-PM Sellal arrested over graft allegation – state TV
  • Sudan military council head meets senior US diplomat in Khartoum – statement
  • UN says it confirms 17 deaths in Sudan’s Darfur
  • Ethiopia pursues liberalised telecoms by approving scope of regulator
  • Sudan’s state prosecutors charge Bashir with corruption
  • South Africa – Rand edges down as Ramaphosa, inflation data in focus
  • Libya – Tripoli children struggle to study as war reaches the capital
  • Firm seeks $9 bln Nigeria asset seizure over unpaid gas project arbitration
  • Africa Oil – Angola cargoes clearing on discounts but overhang looms
  • Libya’s NOC says 80 soldiers entered Ras Lanuf terminal, taken over building
  • Tanzania spending to rise 2% to 33.11 tln shillings – finmin
  • Uganda govt spending to rise 23% in 2019/20 – finmin
  • Head of east Libya parliament rules out talks before Tripoli captured
  • South Africa central bank committed to price stability mandate
  • Kenya, Zambia currencies seen easing; Ugandan, Tanzanian firm; in week ahead
  • Rwanda spending to rise 11% in 2019/20 – finmin
  • Blackwater founder expands operations in Congo
  • Algeria police arrest partner of Germany’s VW over corruption allegations – state TV
  • Africa sees increase in foreign investment, buckling global trend
  • Kenya reduces budget deficit for 2019/20 fiscal year – budget
  • Zimbabwe pensioners face delay in payments amid currency row
  • Zambia president threatens to fine miners who break law
  • Mali fires regional governor after attack that killed dozens
  • Uganda shilling firm helped by investor flows
  • South Africa’s Q2 business confidence is unchanged from Q1
  • Tanzania forecasts economic growth of 7.1% in 2019
  • Kenya shilling weakens against the dollar
  • Public gatherings banned in Kasese District in Uganda after ebola outbreak
  • South Africa – Rand slips on investigation into Ramaphosa campaign donation
  • Second ebola patient dies in Uganda – health ministry official
  • Algeria floats idea of larger OPEC+ oil cut, rollover still likely – sources
  • IMF approves disbursement of $248.15 mln under Angola’s credit facility

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

macroafricaintel | Jobs, jobs, jobs (4)

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

I was the keynote speaker at an economic dialogue on Nigeria organised by Konrad Adenauer Stiftung (KAS) and the Delegation of German Industry and Commerce in Nigeria (AHK) on 23 May 2019. Titled “Road to Economic Development: Challenges and Opportunities”, the dialogue was aimed at shaping the priorities of the incoming second administration of President Muhammadu Buhari. The following is the penultimate and fourth part of the highlights of my speech.

Scale-up the digital economy
The importance of the internet for job creation cannot be overemphasized. Making data, which 116 million Nigerian internet users (about 60% of the population) currently buy expensively, cheap or available for free at ubiquitous wifi hotspots is a simple way by which the authorities could easily scale-up the digital economy. The ministries and parastatals of the federal, state and local governments should all have free wifi hotspots at their various buildings and locations. Instead of sometimes meaningless and self-serving corporate social responsibility initiatives by the private sector, companies could instead make free wifi hotspots available to the extent they could across the country.

If the labour ministry is tasked in tandem with a massive public media campaign on where to find opportunities for digital skills acquisition and abundant digital economy jobs and opportunities to apply them to afterwards, many young Nigerians, who currently engage in fraudulent digital economic activities (“Yahoo, yahoo”, in local parlance) could be diverted towards positive and value-adding activities in the digital economy.

Recent research by Jonas Hjort and Jonas Poulsen in the American Economic Review, a highly rated academic journal, titled “The arrival of fast internet and employment in Africa” show how the arrival of submarine cables to various African countries increased employment and productivity. There were new firm entries into South Africa, for instance. And because fast internet infrastructure enabled firms to sell their wares abroad much easily, exports increased. And in Ethiopia, improved firm-level productivity was observed. This is not surprising considering employees were able to get real-time on-the-job training without having to travel abroad and so on. And these are just examples of how the internet enhanced local legacy industries.

But tech and the internet are also creating new industries that could very well help Nigeria and other African countries to leapfrog easily into services. In this regard, the experience of India is instructive. Of course, the downside to this is that the services sector tend not to be as labour-intensive as manufacturing. But put together with the suggestions for building our industrial base, the combined effort could easily reduce the employment rate by more than half.

Nigeria could easily be a talent factory; tech talent, especially. One of the abundant resources we are endowed with as a country is people. Intelligent people. And it is the one thing that does not require too much hard infrastructure to develop for what is an increasingly global digital economy.

How do I mean? You may wonder about the poor quality of our educational institutions, for instance. True, that is a constraint. But increasingly less so. How so? Anyone who genuinely desires a good education can avail themselves of abundant resources online. It then means that the priority of government should be to ensure that basic education at the primary level, is of high quality, available and compulsory for everyone. As most Nigerians already know how to use a smartphone, regardless of their education level, it is relatively easy for them to get assess to these online educational resources, if they choose to.

What if they cannot afford data to browse the internet? That is where government comes in. Whereas in the past, the poor went to the library to avail themselves of educational resources, the internet is now where they would be able to similarly do so in today’s didgital economy. So the authorities should make available free internet/wifi/hotspots across the country for the poor to go to for such purposes.

There should probably also be an aggressive awareness campaign to inform youths about the numerous opportunities on the internet for education, skill acquisition and indeed jobs. Perhaps a second initiative should be to do something about making data cheaper or free. For instance, it is probably more optimal to invest in free wifi spots than libraries at this time.

As you are well aware, a sizeable portion of Nigerians now have smartphones; purchased brand new or used. The current numbers range from 25-40 million smartphone users. One forecast (Statista) I am privy to suggests there could be more than 140 million smartphone users in another 5 years. If a diligent citizen has a smartphone, and the knowledge on where to find productive resources on the internet, surely such a diligent citizen should not be handicapped by not being able to afford data to browse the internet.

These are relatively easy things to do. Raise power tariffs, create free wifi spots anywhere and everywhere. Together with an imminent boom in the petrochemicals sector via the Dangote et al. refinery, we could be telling a very different but very positive story in just about three years from now.

#Africa #Markets | 13 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Hong Kong leads Asian stocks lower, oil fragile at 5-mth lows
  • HK shares down sharply for 2nd day after big street protests
  • Soft oil prices bolster expectations of Fed rate cuts
  • Bond yields plunge; Japan at 3-yr low, Australia at record
  • European shares seen 0.2% lower

Oil Markets

  • Oil surges after report of tanker incident in Gulf of Oman near Iran
  • Royal Navy unit looking into tanker incident
  • Brent rises by more than $2 a barrel
  • WTI up by about 3% from previous close
  • Brent up 3.3% at $61.97 per barrel (0646GMT)
  • WTI up 2.7% at $52.55 a barrel

Precious metals

  • Gold rises on Fed rate cut hopes, trade worries
  • SPDR Gold holdings rise 0.5% on Wednesday
  • Gold may see strong support at $1,330/oz – analyst
  • Palladium hits more than 1-mth high
  • Spot gold up 0.3% at $1,337.41 per ounce (0706GMT)
  • US gold futures up 0.3% at $1,341.40 an ounce

Grains

  • Corn jumps 1% as rains threaten to halt planting
  • Most active CBOT corn futures up 1% at $4.34-1/4 per bushel (0043GMT)
  • Most active soybean futures up 0.5% at $8.82 a bushel
  • Most active wheat futures up 0.4% at $5.28-1/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Kenya 2019 budget policy statement by finmin Rotich
  • Nigeria presidential election tribunal resumes
  • Former Sierra Leone president Koroma to appear before Georgewill commission of inquiry
  • South Africa mining production Apr-19 [fcst. -2.0% yy, prev. -1.1%]
  • South Africa state capture inquiry continues
  • South Africa business confidence Q2-19 [prev. 28]
  • South Africa’s Ramaphosa 3-day cabinet lekgotla; day 2
  • AfDB 2019 annual meetings in Malabo, Equatorial Guinea; 11-14 Jun

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Kenya shilling weakens against the dollar
  • Public gatherings banned in Kasese District in Uganda after ebola outbreak
  • South Africa rand slips on investigation into Ramaphosa campaign donation
  • Algeria floats idea of larger OPEC+ oil cut, rollover still likely – sources
  • IMF approves disbursement of $248.15 mln under Angola’s credit facility
  • US joins diplomatic push to salvage agreement in Sudan
  • South Sudan president appoints new oil minister
  • Kenya’s rape survivors win right to abortion in landmark court ruling
  • Ghana says its forces rescued 2 kidnapped Canadian women
  • US names veteran diplomat Donald Booth as envoy for Sudan
  • Algeria’s ex-PM, former minister detained over alleged corruption – state TV
  • Ethiopian telecoms sector requires ‘huge’ investments – minister
  • Sudan’s foreign ministry summons UK ambassador – agency
  • Algeria’s supreme court places former transport minister in custody – state TV
  • Mali revises down death toll from village raid, local official disagrees
  • IMF disburses $247 mln loan tranche to Tunisia
  • South Africa tribunal says it can’t change foreign banks in rand-rigging case
  • Politics weighs on South Africa’s rand, stocks
  • Africa Oil – Buyers elusive amid weak margins
  • Algeria floats idea of larger OPEC+ oil cut, rollover still likely – sources
  • New ebola cases in Uganda raise fears of spread beyond Congo
  • Palestinians urge Egypt, Jordan to reconsider going to US-led conference
  • Soccer – Semenya hopes to inspire South Africa at women’s World Cup
  • WHO emergency committee to meet on ebola on Friday – statement
  • Vodacom challenges 2G network suspension in Congo court
  • Soccer – Nigeria upset South Korea for rare World Cup win
  • Glencore puts Chad oilfields up for sale – sources
  • Tunisia boosts renewables with ‘game-changing’ solar tender
  • Gunmen attack 2 ethnic Dogon villages in central Mali
  • Nigeria’s Buhari signals four more years like the last
  • Ivory Coast cocoa grinding up 7.1% through May – exporter stats
  • South Africa tribunal says it can’t charge foreign banks in rand-rigging case
  • Nigeria’s economy is expected to grow 2.7% this year, President Buhari says

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

#Africa #Markets | 12 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Shares snap 7-day hot streak; US inflation next hurdle
  • World shares slip after 7 days of gains
  • Trump holding up China deal, talks down Fed rates and dollar
  • Chinese inflation subdued ex-food
  • Hong Kong markets, exposed shares hit by local unrest
  • Oil prices fall 2% on demand concerns

Oil Markets

  • Oil falls over 2% on weaker demand growth, gain in US crude stocks
  • EIA cuts 2019 global oil growth forecast by 160k bpd
  • US crude stocks unexpectedly rose last week – API
  • OPEC members close to keeping supply cuts – UAE minister
  • Brent down 2.7% at $60.60 a barrel (0907GMT)
  • WTI down 2.9% at $51.71 a barrel

Precious metals

  • Gold recovers as US-China trade jitters sour risk appetite
  • Palladium off 6-week high
  • Spot gold up 0.7% at $1,335.34 an ounce (0724GMT)
  • US gold futures up 0.6% at $1,339 an ounce

Grains

  • Corn prices fall, but cut in US yield curbs losses
  • Most active CBOT wheat futures down 0.4 pct at $5.15-3/4 per bushel (0024GMT)
  • Most active corn futures down 0.2 pct at $4.26-3/4 per bushel
  • Most active soy futures down 0.2 pct at $8.57-1/4 per bushel
  • Most active rice futures up 0.1 pct at $11.59 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Nigeria Democracy Day; markets closed
  • Lake Chad Security Summit in Abuja, Nigeria
  • South Africa retail sales Apr-19 [act. 2.4% yy, fcst. 1.7%, prev. 0.1%]
  • Namibia MPC decision [act. 6.75%, fcst. 6.75%, prev. 6.75%]
  • South Africa state capture inquiry continues
  • AfDB 2019 annual meetings in Malabo, Equatorial Guinea
  • South Africa’s Ramaphosa 3-day cabinet lekgotla; day 1

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Nigeria’s economy is expected to grow 2.7% this year, President Buhari says
  • New ebola cases in Uganda raise fears of further spread
  • South Africa’s retail sales up 2.4% y/y in April
  • Mali lowers estimate of village raid death toll to 35
  • Zambia – Konkola Copper Mines plans to restart smelter on June 22
  • Uganda shilling strengthens on mid-month tax payments
  • Ghana forces rescue 2 kidnapped Canadian women – statement
  • South Africa’s rand edges weaker in subdued start to trade
  • Envoy says Sudan talks to resume as strike suspended
  • Mali massacre victims included 24 children – PM
  • Egypt, Jordan, Morocco to attend US-led Palestinian conference – officials
  • Athletics – South Africa’s Semenya wins in Montreuil, intends to defend 800m world title
  • Soccer – Tunisia stun Croatia 2-1 of African Nations Cup
  • Migrants stranded in boat off Tunisia as authorities say centres overcrowded
  • Sudan parties to resume talks on forming transitional council – envoy
  • UAE communicating with Sudan opposition and military council – minister
  • Nigeria’s Pelfaco signs oil production sharing deal with Congo Republic
  • Sudan opposition says it is suspending civil disobedience and strike – statement
  • As Gabon’s new forests minister, UK conservationist aims to lead by example
  • Presidential panel submits long-delayed report on South African land reform
  • Africa Oil – Nigeria, Angola diffs slide but cargoes struggle to find buyers
  • Enel close to renewing gas import contract with Algeria – sources
  • Algeria extends deal to supply gas to Portugal – Sonatrach
  • Ethiopia forecasts 9% growth, plans higher spending in 2019/20
  • ANC row over South African central bank unnerves investors
  • Morocco favours local institutional investors in Maroc Telecom stake sale
  • Armed with maps and music, Nigeria’s slum dwellers fight evictions
  • Algeria energy exports down 7.7% in 2018 – central bank
  • Court set to hear case on winding up Vedanta’s Zambia business June 201
  • Power from Kenya’s planned Lamu plant could cost 10 times more than estimated – study
  • Uganda critics oppose Nile river power plant plan
  • Kenya Airways will back nationalisation to survive – chairman
  • South Africa’s manufacturing jumps to best in over 2 years as power woes ease
  • South Sudan jails prominent economist over media interviews
  • South Africa’s manufacturing up 4.6% yy in April, highest in 2 years
  • Libya’s Sarir oilfield loses 30k bpd in output due to generator fire – NOC
  • 19 killed in attack in Burkina Faso – govt
  • Ethiopia finance minister proposes 386.9 bln birr for 2019/20 budget
  • Ethiopia’s 2019/20 economic growth projected at 9% – finmin

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

#Africa #Markets | 11 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • European shares gain 0.6% on Trump tariff relief, carmakers shine
  • Germany’s DAX outperforms after 1-day holiday
  • German carmakers shine; tariff-sensitive auto sector up 1.9%
  • Dollar firm near 2-1/2 month lows

Oil Markets

  • Oil steadies above $62 as OPEC cuts counter growth concerns
  • Russia signals it may support extended supply cut with OPEC
  • China stimulus boosts equities, giving oil a lift
  • US crude stockpiles expected to fall in weekly reports
  • Brent up 1 cent at $62.30 a barrel (0849GMT)
  • WTI up 40 cents at $53.66

Precious metals

  • Gold draws support from US-China trade worries after sharp sell-off
  • “Remain cautiously constructive on gold” – INTL FCStone analyst
  • Spot gold up 0.1 pct at $1,328.83 per ounce (0551GMT)
  • US gold futures up 0.3 pct at $1,332.90 an ounce

Grains

  • Corn prices fall amid better-than-expected US crop condition ratings
  • Most active CBOT wheat futures down 0.8 pct at $5.03-1/4 per bushel (0104GMT)
  • Most active corn futures down 0.5 pct at $4.31-1/2 per bushel
  • Most active soy futures down 0.4 pct at $8.55 per bushel
  • Most active rice futures down 0.5 pct at $11.72 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Nigeria presidential election tribunal continues
  • Nigeria’s 9th assembly of Senate & House of Representatives inauguration; election of Senate President & Speaker
  • South Africa manufacturing production Apr-19 [fcst. -0.2% yy, prev. 1.2%]
  • South Africa state capture inquiry continues
  • Rwanda’s Kagame in Gabon; arrived yesterday
  • South Africa’s Ramaphosa in Geneva for ILO summit
  • AfDB meetings in Malabo, Equatorial Guinea
  • Ghana, Ivory Coast to meet cocoa buyers & processors in Accra
  • African Construction Expo in Johannesburg, South Africa

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • 19 killed in attack in northen Burkina Faso – govt
  • Kenya shilling under pressure against the dollar
  • Uganda critics oppose Nile river power plant plan
  • Uganda shilling firms on sag in demand
  • Ethiopia forecasts 9% growth, plans higher spending in 2019/2020
  • Ethiopia finmin proposes 386.9 bln birr for 2019/2020 budget
  • South Africa’s rand recovers as EM demand lifted by Mexico-US deal
  • Vedanta to challenge winding up of Zambian business in court
  • Sudan opposition says to nominate members of transitional council
  • Top US diplomat for Africa to travel to Sudan to urge talks – State Dept
  • Sudan’s opposition will propose members of a transitional, prime minister – source
  • Senegal justice ministry calls for inquiry into energy contracts
  • At least 95 killed in central Mali village attack
  • Bharti Airtel to pay Tanzania $26 mln, cancel debt at unit to settle dispute
  • Mauritius says economic growth may climb to 4.1 pct in 2020
  • Africa Oil – Angolan offered in window
  • Africa’s Multichoice warns of swing to full-year loss
  • Many women in Morocco face abuse at home, some are now speaking out
  • Sudan sit-in bloodshed cripples uprising
  • Rwanda re-opens border with Uganda to trucks for 12 days
  • Ethiopia delays census again despite looming election
  • South African govt sued over coal and industrial air pollution
  • Securities trading in South African sugar producer Tongaat suspended
  • Sudan deports 3 freed rebel leaders after talks collapse – source
  • About 100 Malians killed in attack on Dogon village
  • Egypt sells $715 mln in 1-yr dollar T-bills
  • eSwatini calls for solar power bids to ease reliance on South Africa’s Eskom
  • Kenya Airways aims to double fleet over 5 yrs on path to profit
  • South Africa’s opposition party calls for release of report on Ramaphosa
  • Egypt headline inflation rises as food costs jump
  • Egypt core inflation falls to 7.8% in May – c.bank

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