Breaking News Today – Friday 29 May 2026

African Start-up News Headlines:

• South African fintech Yoco has acquired Dyner.ai, an AI-native operating system built to support Small and Medium-sized Enterprises (SMEs), with a specific focus on the restaurant sector. Their system streamlines operations with what they call restaurant intelligence. Yocois betting on artificial intelligence (AI) to be the next major growth lever for small businesses and will be looking to expand their AI platform to a wider SME sector alongside their fintech products of payment and business operating services.
• Nala, a Tanzanian fintech who have developed stablecoin-powered cross-border payment rails, has secured a $50 million credit financing facility from private credit firm Liquidity. The group has seen rapidly increasing demand for instant business payments between emerging markets, Europe and the United States. According to a statement released by Nala, the financing has an initial $25 million tranche and could scale to $50 million or more via Mars Growth Capital, a joint venture between private credit firm Liquidity and Japan-based lender MUFG Bank.
• Spiro, a Nairobi-based e-mobility startup that saw a successful raise of $100 million late in 2025, has announced the acquisition of Coexlion, a specialist engineering consultancy focused exclusively on two-wheelers and electric vehicles (EVs). The company has also announced plans to establish its first African research and development (R&D) centre in Kenya. The acquisition brings a team of 28 engineers from Coexlion, whose expertise in motorcycle engineering and industrial design is expected to strengthen Spiro’s product development capabilities. The new R&D center will focus on designing and building electric motorcycles tailored to African operating conditions,
  
  

Business News Today 

Global Consultancy Alvarez & Marsal Opens Cape Town Office

Consultancy firm Alvarez & Marsal founded in 1983 in New York by Tony Alvarez II and Bryan Marsal, and with 80 offices in 40+ countries, has launched its first African office in Cape Town. The firm is best known for its hands-on, execution-focused approach to turnaround management, restructuring, performance improvement, and operational consulting. The group is targeting a continent drawing investor interest amid a global scramble ‌for critical minerals used in defence, electronics and the energy transition. This marks the firm’s first entry into the African market, using South Africa as its regional launchpad. With a growing demand for execution-led consulting in infrastructure, energy, utilities, mining, and heavy industries, the company believes it is well placed to enter this market. Bryan Marsal, Co-founder and Co-CEO commented saying “Demand in Africa is growing for differentiated consulting services. Clients urgently need hands-on support to navigate complexity and a results-driven performance model that unlocks value. We follow our clients, and we’re following that demand.”

Ethiopian Debt Restructure Attempt Fails

Major holders of Ethiopia’s $1 billion international bond have reportedly rejected a revised proposal on restructuring the debt, leading to the termination of formal talks, the finance ministry announced yesterday. In January 2026 The government said it had reached a preliminary restructuring agreement with bondholders, sending the bond higher as the market welcomed the resolution. However yesterday the government said the ad hoc committee had rejected ​a revised restructuring proposal. Ethiopia has one major international $1 billion Eurobond (originally due December 2024, coupon 6.625%). It has been in selective default since missing payments in late 2023.

The country faces heavy debt service obligations in the coming years. Total external debt stands at around $28–30 billion, with commercial and bilateral creditors demanding timely payments amid severe foreign exchange shortages. Ethiopia is seeking a significant maturity extension, principal reduction (haircut), and lower interest payments to ease immediate liquidity pressure. The government is under the G20 Common Framework and an IMF-supported programme, needing comparable treatment from all creditors (official and private) to unlock further funding.

New LNG Gas Facility in Eastern Cape -South Africa

Transnet National Ports Authority (TNPA) has signed a landmark 25-year terminal operator agreement with Ukwanda LNG (a joint venture between Tamasa Energy Group and South Africa’s Strategic Fuel Fund). The partnership is set to develop South Africa’s first major onshore LNG regasification facility at the Port of Ngqura in the Eastern Cape. South Africa faces chronic energy shortages and high reliance on coal. The project addresses the urgent need for cleaner, more reliable energy sources to support industrial growth, data centres, and Independent Power Producers (IPPs). Ngqura’s deep-water port makes it ideal for large LNG seaborne carriers. Development of an onshore regasification terminal, including a temporary floating storage and regasification unit (FSRU). The project is looking to enable supply of natural gas to off-takers in the Coega Special Economic Zone and will also support the production of approximately 3,500 MW of electricity. the Total investment will be around R22 billion from Ukwanda LNG plus R2 billion from TNPA for a dedicated LNG berth.

Breaking Business and Market News Shorts:  

• South Africa’s central bank (SARB)has raised its central lending rate for the first time in three years yesterday, joining only a handful ​of other emerging market central banks to have tightened policy during the Iran war. The ​South African Reserve Bank lifted the rate by 25 basis points to ⁠7.00%. The decision split the Monetary Policy Committee, with four members backing the ​hike and two favouring no change.
• African currency expectations for the next week indicate that Zambia’s currency is expected to strengthen against the dollar in the next week to Thursday, while Ghana’s and Uganda’s are seen losing ​ground and Kenya’s should be broadly stable, traders said. The South African rand has traded around 16.2 per USD, holding near the best level since mid-April, after the South African Reserve Bank raised rates.
• Japan’s consumer confidence index rose to 33.6 in May 2026 from 32.2 in the previous month, beating market forecasts of 32.0 and marking the highest reading since February. Sentiment improved across all major categories
• Copper futures held steady near $6.4 per pound on Friday and were on track to register a second straight monthly advance, underpinned by renewed optimism over demand linked to the global artificial intelligence expansion and the rapid build-out of data center infrastructure.

Markets by Numbers 

Currency markets indicate the US dollar gaining against major currencies today. The Greenback is trading against the Euro at 1.16410 while trading against the Pound at 1.34377. The Yen is currently trading at 159.30 to the dollar. The rand (ZAR), is currently trading around the 16.22 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending slightly higher this morning, and currently trading at around $4506.90 per ounce.  
• Copper prices are around marginally lower today, with prices currently around $6.3915 per pound
• Silver futures are trending level today, and currently trading at around $75.600 per ounce.
• Platinum futures have dropped by -0.3% this morning, and currently trading at $1920.70, While Palladium prices have slid by around -1.9%, and currently trading around $1369.50 per ounce.
• Brent crude oil prices are trending almost 1% lower today, and currently trading around $91.88, with WTI trading at $87.98 currently
• Cocoa futures have modulated by around -1% this morning, and currently trading around $4099 per ton. 
• Coffee futures are trending around -1.63% higher today, and currently trading at around $2.7425 per pound

Crypto Currencies: 

• Bitcoin prices are down by around -0.2% today and trading at around $73 394 per coin currently 
• Ether prices are trending fairly level today, and currently trading around $2006.29
• $Trumpcoin are currently trading at around $1.912

(All prices quoted at approximately 07H40 Central African Time) 

African General News Briefs:

• South African Parliament is set to hold the first meeting of a special impeachment committee on Monday (1 June), and will examine allegations linked to the so‑called “Farmgate” or “Phala Phala” scandal involving President Cyril Ramaphosa, according to the government alliance partner – the Democratic Alliance (DA).The meeting marks the next step in impeachment proceedings against Ramaphosa, which were revived this month by the Constitutional Court. The case has been a major source of embarrassment throughout his presidency.
• Ethiopians will vote in parliamentary and regional elections next Monday (1 June 2026) that Prime Minister Abiy Ahmed’s party is anticipated to win in a landslide vote, despite significant unrest and a heavy debt burden creating challenges across much of ​Africa’s second most populous country. Abiy, 49, has consolidated his hold on Ethiopia’s political stage since being elected in 2018, following a wave of mass protests against the long-ruling EPRDF coalition.