Breaking News Today – Friday 12 June 2026

African Start-up News Headlines:

• Moroccan prop-tech startup Agenz has raised USD 5 M in an oversubscribed seed round co-led by Breega, Attijariwafa Ventures, and Saviu Ventures. Since launching its transaction platform in 2023, Agenz has grown rapidly, recording more than 730,000 monthly visits by May 2026. The new funding will support team growth, technology development, product expansion, and future international expansion plans. With Morocco’s property market still heavily influenced by informal brokerage networks, fragmented data, and inconsistent pricing, the tech enhanced disruptor platform is well timed to expand.
• Airtel, the mobile money business has processed almost $200 Billion in transactions over the past year as the telecoms operator expands financial services across 14 African countries, putting it on track for a London listing that analysts say could value the unit at up to $10 Billion. The company’s Sustainability Report 2026, published this week, indicates that Airtel Money’s transaction value lifted by 44% to around $196 Billion in the financial year to March 31 2026. The growth was largely driven by micro-loans, international transfers and merchant payments. The customer base grew an impressive 21% to 54.1 million users.

Business News Today 

South Africa Factory Activity Shrinks to 12-Month Low

Manufacturing activity in South Africa dropped by 2.9% year-on-year in April 2026, marking the steepest decline in a year, following an upwardly revised 1.5% increase in the prior month. The downturn was largely driven by basic iron and steel, non-ferrous metal products, metal products and machinery (-6%); wood and wood products, paper, publishing and printing (-10%) and motor vehicles, parts and accessories and other transport equipment (-11%). On a seasonally adjusted monthly basis, output shrank by 2.7%, after an upwardly revised 1.2% rise in the prior month. Manufacturing production fell by 1.3% in the three months ended April 2026 compared with the previous three months.

US Iran Peace Deal Optimism Cuts Oil Prices

Brent oil futures dropped more than -2% today to below $89 per barrel, hitting its lowest level in four months after US President Donald Trump said a peace agreement with Iran could be reached as early as this weekend. The remarks came after he delayed planned military strikes and warned that the US could target Iran’s oil infrastructure. Iran’s semi-official Fars news agency reported that Tehran was likely to accept the deal, although no final text has been approved by either side. Trump said the agreement would see the reopening of shipping through the Strait of Hormuz and would include Iranian commitments to forgo developing nuclear weapons.

Still, traders remained cautious, as a breakthrough would still face significant obstacles before oil flows could fully normalise, including the clearing of thousands of mines laid by Iran in the Hormuz strait, restarting closed oil production fields, and repairing energy facilities damaged by drone and missile attacks.

Local Wheat Purchases by Egypt set to Reach 5 Million Ton Target

Egypt has purchased a record amount of locally produced wheat from farmers and is on track to achieve its goal to buy 5 million metric tons this season after reforms passed which were designed to curb the ​country’s reliance on agricultural imports. A total of 4.6 million tons of wheat have already been bought by the government for ‌the season that runs until mid-August, according to official data. One of the world’s largest wheat importers, Egypt typically imports around 10 million tons annually, of which around half is bought by the government as part of its bread subsidy programme that supports around 70 million people.

The government has stopped ​short of making public a clear rationale for the measures to reduce wheat imports, but the result should ease a shortage of foreign currency and the ​wider pressure on the National Treasury.  Egypt raised the price it would ⁠pay farmers for wheat for the 2026 season by 7%. Another increase in March, a month before the harvest began, lifted the gate price to around $320 per ton, exceeding the ​international level paid for wheat.

Breaking Business and Market News Shorts:  

• Nigeria’s Dangote Petroleum Refinery is seeking to raise about $1 billion through a private placement, valuing the company at approximately $39.1 billion, according to sources and a placement document. Petroleum production company is offering 3 billion ordinary shares at $0.35 per share, with investor demand already exceeding $2 billion, sources said.
• The Altron FinTech Household Resilience Index, has indicated the number of people in South Africa with formal jobs is relatively in-line with the number of unemployed people in the country. According to the index, there were 12.1 million people with formal jobs during the first quarter of this year, only slightly higher than the 12 million unemployed people.
• Gold traded towards $4,200 an ounce this morning after rebounding more than 3% in the previous trading session, as growing optimism over an imminent peace deal between the US and Iran eased concerns about persistent inflation and potential interest rate hikes. 
• Platinum futures have lifted more than 4% to above $1,730 an ounce today, attempting to rebound from a six-month low as precious metals broadly advanced after renewed hopes for a Middle East peace deal eased inflation concerns. Palladium has also seen a large 3.9% jump this morning and trading close to $1300 an ounce.

Markets by Numbers 

Currency markets indicate the US dollar gaining a little momentum today. The Greenback is trading against the Euro at 1.15657 while trading against the Pound at 1.34032 The Yen is currently trading at 160.28 to the dollar. The rand (ZAR), is currently trading around the 16.29 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending marginally lower this morning, after a big gain yesterday and currently trading at around $4187.68 per ounce.  
• Copper prices are around 2% higher today, with prices currently around $63.863 per pound
• Silver futures are trending -0.68% lower today, and currently trading at around $66.869 per ounce.
• Platinum futures are up around 2% this morning, and currently trading at $1733.20, While Palladium prices have gained around 3.7% today, and currently trading around $1297.50 per ounce.
• Brent crude oil prices are trending -2.2% lower today, and currently trading around $88.47, with WTI trading at $85.99 currently
• Cocoa futures are trading -1.1% lower this morning, at around $3798 per ton. 
• Coffee futures are trending around 2.3% higher today, and currently trading at around $2.5025 per pound

Crypto Currencies: 

• Bitcoin prices are slightly lower today, and trading at around $63 413 per coin currently 
• Ether prices are down by around -0.3% this morning, and currently trading around $1665.89
• $Trumpcoin are currently trading at around $1.807

(All prices quoted at approximately 07H30 Central African Time) 

African General News Briefs:

• The first group of 262 Nigerians who were repatriated from South Africa amid growing anti-immigrant protests and attacks in the country, arrived in Lagos yesterday morning. Anti-foreigner violence across the country has seen gangs armed with sticks, whips, and shields marching in cities demanding that people with no residency papers leave by 30 June. Ghana, Mozambique, and Malawi have already repatriated hundreds of their citizens in recent weeks. South Africa has over three million foreigners, equalling more than 5% of its population. However unemployment exceeds 32%, fuelling anger toward migrant workers.
• Niger’s military-ruled government has enacted a new penal code that criminalises same-sex relations with heavy jail sentences of up to 20-years applied. The new legislation follows a similar approach by other West African countries in adopting tough anti-LGBTQ legislation. While relations between people of the same sex were heavily stigmatised in the Muslim-majority country, they had not previously been a criminal offence. The penal code reform was initiated under Niger’s previous civilian president Mohamed Bazoum under pressure from Muslim groups and lawmakers.