#Africa #Markets | 13 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks, yuan fall as Sino-US trade talks deadlocked; investors await China retaliation
  • Trump-Xi talks likely at G20 summit in June: White House advisor
  • Major currencies calm for the moment; Bitcoin at 9-mth highs

Oil Markets

  • Oil prices fall amid US-China trade impasse
  • Brent down 0.2 pct at $70.49 a barrel (0013GMT)
  • WTI down 0.4 pct at $61.31 a barrel

Precious metals

  • Gold firms as US-China trade impasse fuels safe-haven demand
  • Spot gold up 0.1 pct at $1,286.59 per ounce (0113GMT)
  • US gold futures steady at $1,287.90 an ounce

Grains

  • Soybeans fall to more than 10-yr low on US-China trade woes
  • Most active CBOT wheat futures down 0.6 pct at $4.22-1/4 per bushel (0100GMT)
  • Most active corn futures down 0.4 pct at $3.50-1/4 per bushel
  • Most active soy futures down 0.6 pct at $8.04-1/2 per bushel
  • Most active rice futures up 0.4 pct at $11.03 per hundredweight

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

  • South Africa’s ruling ANC to hold special NEC meeting in Pretoria today
  • South Africa’s DA federal executives to meet today
  • South Africa labour statistics on 14 May
  • South Africa PIC inquiry resumes
  • South Africa state capture inquiry resumes on 15 May
  • South Africa retail sales data for Mar-19 on 15 May

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

  • Voice of resilience: Kenyan radio builds herders’ trust in drought insurance
  • South Africa’s Vodacom FY down 6.6% on black ownership deal
  • Soccer-US beat South Africa beat 3-0 in Women’s World Cup warm-up
  • Egypt condemns actions against four ships near UAE territorial waters
  • South Africa’s ANC celebrates election win with street party
  • Egypt sentences two to death over church attack
  • ANC keeps power in South Africa but scandals cost it votes
  • South Africa’s ANC wins majority in parliamentary election – electoral commission
  • South Africa’s Ramaphosa targets reforms after election win
  • Hostages freed in Burkina Faso offer condolences for fallen French commandos
  • Provisional results show South Africa’s ANC wins parliamentary election
  • Sudan delivers fuel to power stations, has enough flour for June
  • Tripoli urges Trump to stop Haftar’s backers meddling in Libya
  • Dozens of migrants drown off Tunisia coast after leaving Libya
  • Nigeria says ex-president and his oil minister took bribes – court filing
  • Glencore’s Zambian unit to close two mine shafts
  • UN Security Council calls for ceasefire in Libya
  • Congo’s ebola outbreak ‘unlikely’ to be contained unless violence stops
  • South Africa rand firms as ANC heads for re-election
  • Sudan protesters dig in at sit-in-site during Muslim fasting month
  • Namibia women say #MeToo in new movement against sexual violence
  • Africa Oil – Buyers elusive for last Angolan cargoes, tighter Iran sanctions loom
  • Nigeria bonds rally on central bank governor’s nomination, stocks falter
  • Tens of thousands march to demand change in Algeria
  • Morocco claims success in reducing illegal migration to Spain
  • Kenya arrests 75 tax officials on suspicion of corruption
  • Zambia delays receipt of $2.6 bln in loans as debt soars
  • Ghana’s Pecan oilfield approval seen by late-Q3 – Aker CEO
  • Nigeria militia frees nearly 900 children used in war on Boko Haram – UNICEF
  • Two French soldiers killed in rescue of four hostages in West Africa
  • Kenyan shilling steady on tight money market liquidity
  • Uganda shilling unchanged amid limited activity
  • Nigeria bonds, naira rally after central bank governor gets second term nomination – traders
  • South Africa’s competition court to rule on Sibanye and Lonmin merger
  • Miner Lonmin says delays in Sibanye-Stillwater deal to hurt sales
  • After ousting Bashir, Sudna’s activists struggle to loosen military’s grip

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

macroafricaintel Weekly | 13 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Click here for PDF version

Date Data / Event Period Forecast Previous
15 May South Africa Retail Sales, % yy Mar 2019 1.2 1.1
Botswana CPI, % yy (mm) Apr 2019 2.2 (0.2) 3.3 (0.1)
Namibia CPI, % yy (mm) Apr 2019 4.3 (0.2) 4.5 (0.2)
Nigeria CPI, % yy (mm) Apr 2019 11.1 (0.7) 11.3 (0.8)
Ghana CPI, % yy (mm) Apr 2019 9.3 (0.9) 9.3 (1.2)
South Africa CPI, % yy (mm) Apr 2019 4.4 (0.6) 4.5 (0.8)

#Africa #Markets | 10 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • US stock futures slip after tariff hike, Asia shares eke out gains
  • S&P 500 mini futures fall, Asia stocks stay up in volatile trade
  • Some investors pin hopes on Friday’s US-China trade talks
  • Most stock markets on track for heavy weekly losses
  • US treasuries & yen supported
  • European shares seen up 0.5-0.6 pct

Oil Markets

  • Oil gains despite mounting US-China trade tensions
  • WTI on track for first weekly gain in three
  • Though Brent heading for second weekly loss
  • Brent up 34 cents at $70.73 a barrel (0643GMT)
  • WTI up 39 cents at $62.09 a barrel

Precious metals

  • Gold prices buoyed as US-China trade tensions mount
  • Spot gold steady at $1,284.65 per ounce (0142GMT)
  • US gold futures unchanged at $1,285.70 an ounce

Grains

  • Soybean prices edge away from 10-yr low, but trade tensions drag
  • Most active CBOT wheat futures up 0.8 pct at $4.33 per bushel (0101GMT)
  • Most active corn futures up 0.4 pct at $3.54-3/4 per bushel
  • Most active soy futures up 0.6 pct at $8.17-1/2 per bushel
  • Most active rice futures down about 0.1 pct at $10.93 per hundredweight

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

  • Roadshow for Kenya 12-yr, 31-yr dual-tranche eurobond in London & US ongoing
  • Nigeria – Judgement of sacked chief justice Onnoghen’s appeal of misconduct conviction today
  • 22nd inter-governmental committee of senior officials & experts for West Africa (#ICE2019WA) in Liberia; 8-10 May
  • South Africa state capture inquiry continues
  • UN general assembly Maria Garces in Ghana
  • Vote count of 2019 South Africa national & provincial elections continue

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

  • Miner Lonmin says delays in Sibanye-Stillwater deal to hurt sales
  • South African rand steady as ruling party takes lead in elections
  • South Africa’s ANC poised for election victory but support ebbs
  • US air strike kills 13 Islamic State fighters in Somalia – US military
  • After ousting Bashir, Sudan’s activists struggle to loosen military’s grip
  • ANC takes commanding lead in South Africa’s election but support ebbs
  • Kenya court sentences Briton to four years on terrorism charges
  • ANC set to retain power in South Africa but support slips
  • Libya govt threatens to suspend foreign firms to pressure Europe
  • IMF provisionally agrees 3-yr loan deal with Congo Republic
  • Nigeria central bank head nominated for second term
  • Libya gives 40 foreign firms 3 months to renew licenses
  • Sudan forces seize 241 kg gold from plane
  • Acacia Mining hits back at parent Barrick in Tanzania row
  • Africa Oil – West African diffs steady amid strong demand
  • Congo Republic’s economy expected to grow more than 5 pct in 2019 – IMF
  • UK gravely concerned at situation in Libya
  • Egypt court fines ex-interior minister $29 equivalent for abuse of funds
  • How Total’s CEO pounced on Anadarko’s African energy assets
  • Togo term limit law allows president 10 more years of rule
  • Egypt headline inflation drops to 13.0 pct in April – CAPMAS
  • Libya plans to increase oil output from existing fields to 1.4 mln bpd this year
  • Kenya’s shilling to strengthen, Uganda’s to weaken; in week ahead
  • Kenya’s Equity Bank eyes more profit from subsidiaries after subdued Q1
  • South Africa’s manufacturing output up 1.2 pct y/y in March
  • Tanzania opposition activist found beaten, dumped in village
  • South Africa listed Steinhoff shares tumble after release of 2017 results
  • Zimbabwe warns of power cuts as dam levels fall, ageing plants stutter
  • AngloGold Ashanti plans to sell up in South Africa
  • Uganda shilling forecast to weaken due to importer, commercial bank demand
  • Kenya starts roadshow for 12-, 31-yr dual-tranche eurobond
  • Uganda launches second round of competitive bidding for oil blocks

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

macroafricaintel | Sall’s Senegal

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Macky Sall, the president of Senegal, is perhaps still basking in the euphoria of his re-election win. Sall won 58 percent of the presidential vote held on 24th February. Second-place winner, Idrissa Seck, garnered 21 percent of votes cast, while Ousmane Sonko, the third-place winner, secured 16 percent. In any case, it was not much of a contest.

Potentially stronger contenders were not on the ballot. Karim Wade, son of former president Abdoulaye Wade, and Khalifa Sall, the former mayor of Dakar, were barred from running owing to convictions for corruption.

The opposition did not take it totally lying down per se. In early February, the senior Wade, who was Senegal’s president for twelve years, returned home from France, where he lives, to speak his mind in person. He called for a largely unsuccessful boycott of the polls.

Incidentally, in four of the twelve years of Wade’s rule, Sall was prime minister. And Sall would later go on to be his nemesis in the 2012 presidential election.

Naturally, some argue the series of events that led to the disqualification of Wade’s son and the incumbent’s namesake, Sall, were politically motivated. They are probably right.

Mark Bohlund of Bloomberg Economics in London argued ahead of the February polls that “a new system that involves sponsorship of presidential candidates and validation by the Constitutional Court…prompted accusations of a limiting factor for political competition being created that tarnishes Senegal’s strong democratic record.”

Such was the convincing grip of President Sall on Senegalese politics ahead of the February polls that Bloomberg Economics’ Bohlund reckoned early on that “attempts at constitutional changes allowing [Sall] to contest a third term [could not] be ruled out.”

Economic boom amid rising debt
Still, Sall won a second term in office on the back of a remarkable economic record. The Sengalese economy grew from about 5 percent in 2012, when he first took office, to 7 percent in 2017, the most recent year for which actual data is available.

Economic projections by the International Monetary Fund (IMF) suggest the economy would likely maintain this momentum for another half a decade to 2023, with oil and gas production in 2022 expected to lift real GDP growth to the double-digits in the last two years.

Bloomberg Economics’ Bohlund worries about Senegal’s rising debt, however. “The sharp rise in Senegal’s debt in recent years has been described as an example of the ‘pre-resource’ curse in which governments borrow heavily now to reap the benefits of revenue streams coming online in the future. Reducing Senegal’s indebtedness will be a key focus in coming years.”

That said, Bohlund highlights that “the Senegalese government has pledged to close the budget deficit by raising its tax revenue towards the WAEMU [West African Economic and Monetary Union] criteria of 20 percent of GDP [Gross Domestic Product].”

“If successful, this would support Senegal’s status as one of the few African countries being upgraded by credit rating agencies – Standard and Poor’s retained its positive outlook on Sengal’s B+ rating in December.”

Policy continuity
With Sall now re-elected, New African asked Adeline Van Houtte, Africa Analyst at The Economist Intelligence Unit in London, about the country’s outlook under his leadership for another five years.

“Macky Sall, the president, has been re-elected for a second term, and is now well placed to implement the second phase of his economic development strategy.”

“Like many other African heads of state, Mr Sall was able to benefit from incumbency advantages but also his strong track record on economic and development issues, which laid the foundations for his decisive first round victory. However, the trial of the popular Khalifa Sall and his exclusion from the election race have left many voters disillusioned.”

“We expect the president to face a tough challenge to restore trust in governance, especially in the eyes of Senegal’s influential urban youth and the media, as well as restore a workable relationship with opposition politicians.”

“Encouraged by a strong economic performance (with real GDP growth averaging more than 6% in 2014-18), and with new hydrocarbon developments set to bolster government revenues from 2021-22 onwards, the temptation will be to focus on the economy and allow governance reforms to slip down the agenda.”

“Mr Sall will preside with a strong majority in parliament, which will facilitate policy making. The government has drawn up a list of priority actions required for the next phase of its Plan Sénégal Emergeant (PSE) development strategy, which was adopted in 2014.”

“Large foreign-funded infrastructure projects played a major role in phase one of the PSE, and phase two will also include rural infrastructure projects including the construction of 3,050 km of rural roads, the electrification of 675 villages.”

“But the second phase will also lay much greater stress on improving productivity, enhancing basic social services and reducing poverty. A donor meeting in December mobilised aid pledges of €13bn (US$14.4bn) – double the level of external assistance for the first phase of the PSE. France was particularly supportive, pledging €1.5bn.”

“The re-election of Macky Sall will provide policy continuity in the country and policy will continue to be guided by the government’s PSE supporting strong economic activity.”

An edited version was published in the April 2019 issue of New African magazine

#Africa #Markets | 9 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks tank on nearing tariff threat, drag down Europe
  • European equities poised for lower open, Asia at 8-wk lows
  • Beijing vows retaliation after USTR sets tariff hike in motion
  • Trump says China “broke the deal”; talks resume on Thursday

Oil Markets

  • Oil prices fall as trade row fears eclipse US inventory decline
  • Brent, WTI futures drop 1 pct
  • Brent down 0.7 pct at $69.91 a barrel (0600GMT)
  • WTI down 0.6 pct at $61.76 per barrel

Precious metals

  • Gold prices hold firm ahead of US-China trade talks
  • Gold facing strong resistance at $1,290 levels – analysts
  • Spot gold up 0.1 pct at $1,281.19 per ounce (0542GMT)
  • US gold futures up 0.1 pct at $1,282.10 per ounce

Grains

  • Corn drops for 2nd session as US weather improves; soybeans down
  • Most active CBOT wheat futures down 1 pct at $4.34-3/4 per bushel (0124GMT)
  • Most active corn futures down 1 pct at $3.60-1/2 per bushel
  • Most active soy futures down 0.7 pct at $8.21-3/4 per bushel
  • Most active rice futures down about 0.1 pct at $10.95 per hundredweight

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

  • 22nd inter-governmental committee of senior officials & experts for West Africa (#ICE2019WA) in Robertsfield, Liberia; 8-10 May
  • South Africa state capture inquiry resumes
  • UN General Assembly president Maria Garces in Ghana
  • South Africa 2019 national & provincial elections; results trickle in, final expected on Saturday (11 May)
  • Guinea’s Conde in Namibia on state visit
  • South Africa mining production (Mar-19) [fcst. -7.3% yy, prev. -7.5%]
  • South Africa manufacturing production (Mar-19) [fcst. 0.1% yy, prev. 0.6%]
  • South Africa FX reserves (Apr-19) [act. $49.5B, prev. $49.7B]

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

  • Uganda launches 2nd round of competitive bidding for oil blocks
  • Kenya’s Equity Group posts 6 pct rise in Q1 pretax profit
  • AngloGold Ashanti to review divestment options for South African assets
  • Egypt headline inflation drops to 13.0 pct in April – CAPMAS
  • South Africa net foreign reserves fall to $43.245 bln in April
  • South Africa’s MTN first-quarter service revenue rises
  • South Africa counts votes as Ramaphosa’s ANC looks to retain power
  • Angola president sacks chair of state energy firm Sonangol
  • UN report finds likely use of armed drone in Libya by Haftar or ‘third party’
  • South Sudan president says formation of unity govt should be delayed a year
  • Sudan’s protest coalition calls for disobedience campaign
  • France seeks Libya ceasefire, migrant centre struck
  • UNAIDS chief charged with enabling ‘culture of harassment’ joins Mali govt
  • South Africa’s ANC seen winning election but support faltering
  • Congo recaptures one of two fugitive suspects in UN experts’ killings
  • IMF praises Congo Republic efforts to manage debt after China deal
  • Amid criticism, South Sudan signs new deal with US lobbyists
  • Nigeria court dismisses oil export claims against Eni, Petrobras
  • Africa Oil – US imports, gap left by Iran sanctions boost West African crude
  • MTN Nigeria gets listing approval, securities regulator says
  • Kenya to upgrade old rail track to deliver Uganda link
  • Libyan PM meets Macron, shell hits migration centre
  • Zimbabwe court says main opposition leader illegitimate, party to challenge ruling
  • Zambia’s 2019 maize output seen 16 pct down at 2 mln tonnes
  • Anadarko’s final investment decision on Mozambique LNG project due on June 18
  • Politics: no laughing matter in poverty-hit Zimbabwe
  • From crime to corruption, South African voters speak out
  • Clashes in ebola-affected Congo city kill at least 9
  • WHO experts recommend ramping up ebola vaccine after Congo cases surge
  • Egypt expects 5.8 pct economic growth in Q4 of FY 2018-19 – minister
  • Chinese logging takes heavy toll on farmers in Guinea-Bissau
  • Uganda shilling weakens on surge in offshore demand
  • Corruption, payment delays stifle Kenya manufacturers – survey
  • Former head of Ethiopia intelligence charged in absentia
  • Kenya shilling weakens due to oil importer demand

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

#Africa #Markets | 8 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks slip, bonds rally on fear China-US trade deal could unravel
  • Asia tracks Wall Street’s overnight slide
  • MSCI Asia-Pacific index hits lowest since late March
  • European stocks futures most lower in early trade
  • Risk aversion supports bonds, US 10-yr yield at 1-mth low
  • New Zealand cuts interest rates, kiwi weakens

Oil Markets

  • Oil rises amid surging China crude imports, US sanctions
  • US sanctions have tightened global oil markets
  • Sanctions come amid record Chinese oil demand
  • Brent up 0.6 pct at $70.31 a barrel (0658GMT)
  • WTI up 0.9 pct at $61.96 a barrel

Precious metals

  • Gold hits 1-wk high as trade jitters dampen risk appetite
  • Indian gold buying seen supporting physical demand
  • Spot gold up 0.3 pct at $1,287.73 per ounce (0607GMT)
  • US gold futures up 0.3 pct at $1,288 an ounce

Grains

  • Soybeans up for 2nd session, US-China trade talks in focus
  • Most active CBOT wheat futures up 0.2 pct at $4.40-1/4 per bushel (0110GMT)
  • Most active corn futures up 0.3 pct at $3.67-1/2 per bushel
  • Most active soy futures up 0.2 pct at $8.32-1/2 per bushel
  • Most active rice futures down 0.2 pct at $10.92 per hundredweight

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

  • 2019 South Africa national & provincial elections today; public holiday
  • Nigeria presidential election tribunal inaugural sitting
  • 22nd inter-governmental committee of senior officials & experts for West Africa (#ICE2019WA) in Robertsfield, Liberia; 8-10 May
  • UNGA president Maria Garces in Nigeria

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

  • Scandal-hit Steinhoff posts $4 bln operating loss for fiscal 2017
  • Kenya shilling weakens due to oil importer demand
  • South Africa’s ANC seeks to reverse sliding support in tough election
  • Voting begins in South African elections – Reuters witness
  • Sudan military rulers want Sharia law to guide legislation under interim govt
  • Former head of Ethiopian intelligence charged in absentia
  • Ugandan journalists reassigned after govt upset by opposition coverage
  • WHO experts recommend ramping up ebola vaccine after Congo cases surge
  • Aid workers race to contain cholera outbreak in cyclone-hit Mozambique
  • Private property rights at stake in South Africa ballot
  • Africa Crude – Angolan dwindles, Nigerian offers steady
  • Amid tensions with France, Libya’s Serraj to meet Macron on Wednesday
  • Tanzania plans cable car for Mount Kilimanjaro
  • Kenya house committee opposes Kenya Airways’ takeover of main airport
  • Angola president calls for resolution to fuel crisis
  • South Africa’s MTN registers Nigerian business shares before listing
  • Gulf pledges offer scant reprieve for Sudan’s economy
  • UK soldier killed in counter poaching operation in Malawi – UK defence ministry
  • Zimbabwe central bank sees official, black market exchange rates converging in 3 months
  • Uganda shilling steady, expected to gain due to tea, coffee inflows
  • Egypt expects IMF loan final tranche in July – deputy finmin
  • Egypt upholds death sentence for 13 members of disbanded militant group
  • MTN Nigeria registers to list 20.4 bln shares at 0.02 naira each
  • Egypt’s 9M budget deficit for year to June drops to 5.3 pct of GDP – finmin
  • Sudan protesters’ sit-in inspires cultural outpouring
  • South African business confidence rise in April on post-election hopes
  • Egypt moves to cancel planned increase in stock exchange duty
  • MTN met deadline to respond to $2 bln Nigerian tax demand – judge
  • Bush fire razes four villages in South Sudan, kills 33
  • Egypt spent $3.51 bln on fuel subsidies on first nine months of FY 2018-2019 – minister
  • Kenya shilling strengthens, helped by inflows into govt bonds

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

#Africa #Markets | 7 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares off 5-wk low, remain fragile amid US-China trade tensions
  • Nikkei falls as markets reopen after 10-day break
  • Spreadbetters expect softer open for European shares
  • Lighthizer: China reneged on commitments; e-mini futures slip
  • US-China talks to continue this week; Chinese VP due to attend

Oil Markets

  • Oil mixed as US-China trade war drags on prices, while sanctions keep markets tense
  • Brent down 12 cents at $71.12 per barrel (0710GMT)
  • WTI up 5 cents at $62.30 per barrel

Precious metals

  • Gold gains as risk appetite dips on Trump’s tariff threat
  • SPDR gold holdings at lowest since Oct. 11
  • Spot gold up 0.2 pct at $1,283.41 per ounce (0731GMT)
  • US gold futures up 0.1 pct at $1,284.50 an ounce

Grains

  • Soybeans fall for 8th session on renewed US-China trade tensions
  • Most active CBOT wheat futures down 0.8 pct at $4.33-3/4 per bushel (0156GMT)
  • Most active corn futures unchanged at $3.64-1/4 per bushel
  • Most active soy futures down 0.2 pct at $8.28-1/2 per bushel
  • Most active rice futures up 0.3 pct at $10.73 per hundredweight

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

  • 2019 Elephants summit in Kasane, Botswana
  • Nigerian Senate resumes
  • Nigeria’s Buhari to meet visiting UN general assembly president
  • Special voting in 2019 South African elections continues (6-7 May); main vote on 8 May
  • South Africa state capture inquiry continues
  • South Africa SACC business confidence Apr-19 [prev. 91.8]

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

  • MTN met deadline to respond to $2 bln Nigerian tax demand – judge
  • Bush fire razes four villages in South Sudan, kills 33
  • South Africa’s rand steady with elections bets balanced
  • Egypt spent $3.51 bln on fuel subsidies in first nine months of FY 2018-2019 – minister
  • Kenyan shilling strengthens, helped by inflows into govt bonds
  • Bombardier to be supplied by Morocco plant after sale – minister
  • Sudan forces seize weapons, including explosives belts – agency
  • US refiners tap Iraq, West Africa and Brazil for scarce crude supplies
  • Cameroon has brief window to try to halt violence – UN rights chief
  • Niger fuel tanker blast kills at least 55
  • Two more swine fever outbreaks detected in South Africa
  • Egypt sells $1 bln in 1-yr dolla t-bills – central bank
  • Nigeria police accused of abusing prostitution suspects
  • Nigeria’s Nembe oil pipeline hit by shutdown, protests
  • South Sudan agrees oil exploration deal with South Africa
  • ICC will no longer refer Jordan to UN for failure to arrest Sudan’s Bashir
  • Nigeria stock exchange receives MTN listing application, regulator says
  • As elections loom, South Africans call for faster land reform
  • Protesters block Aiteo’s Nembe oil facility in Nigeria
  • Kenya’s KCB Group looks to buy banks in Rwanda, DRC – CEO
  • Kosmos Energy plans to sell down interest in Mauritania-Senegal basin
  • Kenya shilling firms, helped by remittances

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