Breaking News Today – Monday 13 July 2026

African Start-up News Headlines:

• Klump, the Nigerian buy now, pay later (BNPL) startup, has partnered with Jumia to bring instalment payment facility directly into one of Africa’s largest online retail platforms, expanding its strategy of integrating it’s consumer credit directly into e-commerce checkouts. The partnership places Klump inside Jumia’s platform seamlessly, allowing shoppers to compare financing offers from multiple banks without leaving the platform. Klump provides the technology that connects borrowers with partner lenders, which assess applicants, fund the loans, and assumes the credit risk.
• NewSpace Systems, a South African built, leading multinational spacecraft components manufacturer, specialising in Guidance, Navigation & Control products, has celebrated nine clients who launched products aboard SpaceX’s Transporter-17 mission. The company, in an announcement on LinkedIn said: “There’s something special about watching hardware that started life in our facilities lift off on a rocket and begin its journey to orbit. It never gets old.” “We’re excited to have more than a hundred products onboard these missions, including Reaction Wheels, Sun Sensors, Magnetorquer Rods, and Magnetometers, helping to guide and control their respective spacecraft in orbit.”
  
  

Business News Today 

Iran Conflict Escalation Sees Dollar and Oil Prices Firm

U.S. ​and Iranian forces have escalated drone an missile attacks over the weekend, with Tehran targeting U.S. facilities in ​states across the Gulf region on Sunday and saying it had again closed the vital ⁠Strait of Hormuz shipping route. Brent oil prices have seen a lift in Asian trade this morning, with futures up 4.1% at $79.11 a barrel.The dollar also strengthened against most of its peers as a renewal of hostilities in the ‌Middle East increased risk sentiment and further heightened inflation fears, raising prospects for interest rate hikes among global central banks. The dollar was up 0.2% at 162.075 against the Japanese yen, with the euro softening 0.1% to $1.1397 while the British pound slipped 0.2% to $1.3374. Fed funds futures are pricing an expected 50.9% probability of two ​or more rate hikes by the December meeting of the US Federalreserve, up from a 47.6% chance on ​Friday. Inflation risks are likely to remain in focus with the release of U.S. CPI data tomorrow.

South African Delegation in US to Appose Tariffs

A South African trade delegation was in the United States last week, in an effort to seek exemption from proposed 12.5% tariff linked to a U.S. investigation into the enforcement of bans on imports of products made with forced labor in dozens of countries, arguing that it has robust laws prohibiting the practice. The delegation led by the Department of Trade, Industry and Competition appeared before the Office of the U.S. Trade Representative in Washington as part of a Section 301 investigation examining whether at least 60 economies adequately enforce bans on imports of goods made with forced labor. The delegation stressed that South Africa has ratified key International Labor Organization conventions prohibiting forced labor and has legislation that allows authorities to block imports produced using forced labor. It also noted that goods produced through prison labor are already prohibited under South African law.

Nigeria’s Stock Market Gains Further Momentum

Momentum is building in the Nigerian IPO landscape against a backdrop of a bullish investor market and improving economic fundamentals. Analysts have indicated that the Nigerian capital market is likely to witness an increase in IPOs and new listings as recent market reforms and global recognition continue to boost investor confidence. This has led to the improved standing of the Nigerian bourse in the global capital market. This momentum has been accelerated by stronger market infrastructure and improved international ratings, creating the right environment for more companies to raise funds through the Nigerian Exchange(NGX). The improvements have seen the FTSE Russell’s standalone market classification move into frontier market status within about 40 months, placing the market on course for another major global upgrade. Bothe the FTSE Russell and S&P Global have strengthened the country’s profile among international investors and could unlock between $50 million and $150 million in passive foreign investment inflows as global funds rebalance their portfolios.

Breaking Business and Market News Shorts:  

• World oil demand is set to decline by 1 million barrels per day – on average year-on-year in 2026, This would mark its first annual decrease since the height of the Covid-19 pandemic in 2020, the IEA said in its latest oil market report.
• Algeria has fully reopened its ‌national airspace to air traffic from Mali, effective last Friday (10 July), allowing all flights ​to and from the West ​African country, the Algerian state media ⁠has reported. Both Nations shut their airspace to each other’s aircraft in April, after a Malian drone had been shot down over Algeria, after violating the Algerian airspace.
• Egypt’s current account deficit more than ​doubled to $5.1 billion in the ‌January-March quarter (Q1) from $2.3 billion a year earlier, central bank data released yesterday indicated. Net foreign direct investment inflows ​also edged down to $3.7 billion from $3.8 billion ⁠in the same period of ​2025.
• Gold futures dropped below $4,100 an ounce this morning, remaining under pressure as renewed missile strikes between the US and Iran drove oil prices higher, fuelling expectations of interest-rate hikes to curb inflation. 

Markets by Numbers 

Currency markets indicate the US dollar slightly stronger today. The Greenback is trading against the Euro at 1.14016 while trading against the Pound at 1.33807 The Yen is currently trading at 162.19 to the dollar. The rand (ZAR), is currently trading around the 16.39 mark against the US dollar this morning.

Commodities:  

• Gold futures are around -1.42% lower this morning, and currently trading at around $4062.48 per ounce.  
• Copper prices are around -0.98% lower this morning, with prices currently around $6.1726 per pound
• Silver futures are around -2.75% lower today, and currently trading at around $58.202 per ounce.
• Platinum futures are around -1.14% lower this morning, currently trading at $1610.50, while Palladium is around -1.84% lower today, and currently trading around $1253.00 per ounce.
• Lithium continues to see prices under pressure, down -0.64% today and trading at 154 000
• Brent crude oil prices are trending around 4.7% higher today, and currently trading around $79.60, with WTI trading at $75.00 currently
• Cocoa futures have dived by around -6% today, currently trading at $6065 per ton. 
• Coffee futures are down by over -3% today, and currently trading at around $3.3425 per pound

Crypto Currencies: 

• Bitcoin prices are -0.1% lower today, currently trading at around $62 759 per coin.
• Ether prices are trending -0.88% lower this morning, and currently trading around $1740.88

(All prices quoted at approximately 07H55 Central African Time) 

African General News Briefs:

• The South African Police Service (SAPS) has arrested a man wanted by British authorities on suspicion of killing his wife Nothabo Zandile Tshuma, 42, and their daughters, Natalie, 15, and Nala, 5. The police had traced Ndodana Mkhanyisi Tshuma, a British citizen, to the Johannesburg suburb of Kensington in an intelligence-led operation involving Interpol and SAPS, where he was arrested. British authorities had been looking for Tshuma in connection with the deaths, after the bodies of his family were discovered at the family’s home near Bedford, north of London.
• A former South African Air Force brigadier general Portia “Posh” Anyamba has been sentenced to six months in prison in the United States after pleading guilty to acting as an unregistered foreign agent for South Africa and lying on a U.S. security clearance application. According to her plea agreement, Anyamba admitted she received cash payments and a laptop from a South African State Security Agency (SSA) official in exchange for carrying out instructions, including attending think tank-style events and submitting reports to South African officials.