Breaking News Today – Friday 19 June 2026

African Start-up News Headlines:

• BNB Liberia and Orange Money Liberia have launched a new cross-border mobile remittance service, enabling Orange Money users in Liberia to send funds directly to wallets in eight African countries: Ghana, Sierra Leone, Guinea, Côte d’Ivoire, Senegal, Mali, Uganda, and Rwanda. The partnership combines BNB’s cross-border payment infrastructure with Orange’s extensive mobile money network, strengthening Liberia’s digital financial ecosystem. It offers a convenient, affordable alternative to traditional channels, supporting intra-African trade and diaspora remittances.
• African startups have showcased practical innovations on a global stage at the VivaTech 2026 conference in Paris this week. there was strong representation in fintech, AI, banking solutions, and agri-tech products. Highlights included solutions tackling post-harvest losses for food security, alongside fintech tools for payments and inclusion. African Startups at the show include SURGiA (Egypt), Ndovu Wealth (Kenya), Winich Inc (Nigeria), eShandi – featured among finalists for innovative solutions, and Ubiquity AI (South Africa).

Business News Today 

Brent Oil Prices Continue to Fall

Brent oil futures were trading around $79.70 per barrel this morning, on track to fall roughly -9% for the week. This is positive news for African States that have seen fuel costs rocketing over the last three months. The market has welcomed improving shipping conditions in the Strait of Hormuz following the implementation of the US-Iran interim peace agreement, which has brought an end to a prolonged conflict that triggered the largest supply disruption on record.

The US Central Command announced it had lifted restrictions on traffic to and from Iranian ports and coastal waters, while the Joint Maritime Information Center advised vessels transiting the strait to follow a route closer to Oman’s coastline to reduce the risk from mines. Tankers carrying previously stranded crude began exiting the waterway on Thursday, and Kuwait said it would begin increasing production volumes. As a result, oil prices have erased nearly all the gains recorded since the Middle East conflict began in late February.

Rwanda’s Economy Posts Robust 10% YoY Growth in Q1 2026

Rwanda’s economy continued its strong momentum in the first quarter of 2026, expanding 10% year-on-year, slightly moderating from the 11.2% growth recorded in the prior quarter. The performance underscores the country’s resilience and diversification drive amid regional challenges.

The services sector remained the primary engine of growth, rising 7% and contributing 3.9 percentage points to overall GDP. Key drivers included wholesale and retail trade (+11%), transport (+11%), information and communication (+22%), financial services (+11%), and administrative/support activities (+20%). However, headwinds appeared in tourism-related areas, with hotels and restaurants contracting 16% and health services declining 18%. Agriculture grew a solid 8%, supported by a 3% rise in food crops and a remarkable 39% surge in export crops. The industry sector expanded 13%, fuelled by mining and quarrying (+20%),

Diamond Market Downturn Destroys Northern Cape Mine

Business rescue practitioners, Daniel van Jaarsveld and Luke Saffy, have formally taken control of London-listed Petra Diamonds based in the Northern Cape, South Africa. All production has been suspended, together with initiating a retrenchment consultation process, while a creditor-backed restructuring plan is being developed.

The decision reflects a severe downturn in the natural diamond sector. Globally, prices for smaller commercial-grade stones have collapsed due to weak demand (particularly from China and India), competition from lab-grown diamonds, geopolitical tensions in the Middle East, and a stronger South African rand that hurts export earnings. Petra reported average realised prices dropping significantly in its FY25 financials. Broader industry challenges include oversupply, cautious retail spending, and a shift away from smaller natural diamonds.

Breaking Business and Market News Shorts:  

• The American Chamber of Commerce Kenya (AmCham Kenya), one of the country’s most influential business lobby groups, has appointed a former Capital Markets Authority Chief Paul Muthaura, as their new CEO. Muthaura’s appointment comes as Kenya strengthens its position as a regional hub for multinational companies with a strong focus on trade and digital policy certainty.
• The Indian rupee held around 94.2 per dollar this morning, extending gains to a six-week high as improving capital flows lifted investor sentiment. Market participants reported an improvement in foreign-exchange flows, with increased investment into Indian bonds and a slowdown in foreign equity outflows
• The US dollar index traded around 100.8 this morning, hovering at its highest level since May 2025 as investors piled on rate hike bets this year following hawkish signals from the Federal Reserve. On Wednesday, the Fed left rates unchanged as widely expected, but roughly half of FOMC members now anticipate at least one rate increase in 2026. 
• The South African Post Office (SAPO) is set to exit business rescue, with the Joint Business Rescue Practitioners of the SAPO launching an application in the High Court of Pretoria to end business rescue proceedings.The company no longer technically insolvent after retrenching thousands of employees this year. 
• The value of building plans approved in South Africa climbed by 16.9% year-on-year to ZAR 8513.5 million in April 2026, following an upwardly revised 17.2% jump in the prior month. Non-residential buildings (43.5% vs 3.3%) and residential construction (18% vs 27.3%) posted strong increases, more than offsetting a decline in additions and alterations (-2.2% vs 10.2%).

Markets by Numbers 

Currency markets indicate the US dollar stronger today. The Greenback is trading against the Euro at 1.14253 while trading against the Pound at 1.31672 The Yen is currently trading at 161.38 to the dollar. The rand (ZAR), is currently trading around the 16.52 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending almost -2% lower this morning, and currently trading at around $4126.54 per ounce.  
• Copper prices are around -1.58% lower today, with prices currently around $62.723 per pound
• Silver futures have slid by 0ver -3.3% today, and currently trading at around $63.385 per ounce.
• Platinum futures are around -2.8% lower this morning, and currently trading at $1659.10, While Palladium prices are around -2.1% lower today, and currently trading around $1261.00 per ounce.
• Brent crude oil prices are trending -0.2% lower today, and currently trading around $79.77, with WTI trading at $77.01 currently
• Cocoa futures are trading flat this morning, and currently trading at $4237 per ton. 
• Coffee futures are trending around -1.51% lower today, and currently trading at around $2.6780 per pound

Crypto Currencies: 

• Bitcoin prices are -0.52% lower today, and trading at around $62 606 per coin currently 
• Ether prices are -0.8% lower this morning, and currently trading around $1694.86
• $Trumpcoin are currently trading at around $1.846

(All prices quoted at approximately 07H15 Central African Time) 

African General News Briefs:

• A deadly attack on the international airport in Niger’s capital yesterday resulted in the deaths of at least 11 soldiers and two civilians, officials said. This follows months after jihadists staged a large assault on the sensitive site. Twenty-two attackers were also killed as security forces repelled the raid on the Diori Hamani International Airport in Niamey, Niger’s defence ministry said. Gunfire erupted early in the morning and rang out for hours near the airport, where a large military presence was later deployed.
• Burkina Faso’s media regulator has imposed a fine of 50 million CFA francs (or €76,200) on French multimedia group Canal+, the Burkina Faso Press Agency has reported. The Higher Council for Communication (CSC) stated that the company had failed to provide free access to national television channels for its subscribers in the country. A 2024 convention requires Canal+ to continue broadcasting national public channels, even if subscriptions expire.