Breaking News Today – Monday 17 August 2026

African Start-up News Headlines:

• Ghanaian startup CityQuest Africa has launched a platform that combines tourism and edutainment by transforming destinations into playable adventures. CityQuest is a gamification platform that partners with cities or activity attractions in Ghana to provide an overview of the region or experience via an interactive online adventure. Players follow clues, complete local challenges, uncover hidden lore and interact with destinations as though they have stepped inside a living game.
• Nigerian fintech Mathesis Analytics has raised a strategic (undisclosed) investment from Sewa Capital to scale its AI-powered credit decisioning infrastructure. The platform has already supported more than 8 million loans for over 2 million borrowers in Nigeria by using alternative data to assess creditworthiness for underserved individuals. The capital will fund product development, deeper institutional integrations, expansion of its lender network and stronger data infrastructure, with a view to broader African growth.

Business News Today 

Constitutional Court Finds Shuts-Down Wild Coast Oil Exploration

South Africa’s Constitutional Court, on Friday, ruled in favour of South Africa’s Wild Coast communities and environmental groups. It set aside the exploration right held by Shell Oil and Impact Africa (originally granted in 2014 and later renewed), and overturned the Supreme Court of Appeal’s earlier order that had suspended the High Court’s setting-aside to allow a third renewal with further consultation. The Court held that the original process was unlawful, with inadequate consultation with affected communities and failure to properly consider their rights and environmental impacts, and that late consultation could not cure the defects. This specific Wild Coast exploration right is now redundant. Shell and its partner cannot proceed with seismic surveys or further work under that right. The partners had already spent around R1.1 billion on the project. Shell retains other South African offshore interests (notably on the west coast), but this particular campaign is ended.

SAA Acting Group CEO Placed on “Special Leave”

On Friday 14 August 2026, the South African Airways board, placed acting Group CEO Matshela Seshibe on special leave with immediate effect, pending the outcome of an internal process. The board’s statement gave no specific reasons and stressed that the move is not a finding of wrongdoing. It framed it as a governance step to protect the airline and uphold accountability.Koekie Mbeki (SAA’s Chief Legal Officer) was appointed acting Group CEO with immediate effect. Seshibe issued a statement on Saturday night confirming he is aware of an internal process relating to matters arising from his tenure as CEO of Air Chefs (SAA’s catering subsidiary, which he headed before becoming acting SAA CEO in April 2026). He said the precise allegations had not yet been formally put to him, so he would not speculate.

No official, detailed list of specific “impropriety” has been publicly confirmed by the board. The only concrete links reported so far point to an internal probe into Seshibe’s earlier role at Air Chefs, involving a whistleblower complaint about procurement (and occurring against the backdrop of the recent food-safety issues at the subsidiary). The process is ongoing, and further details may emerge once formal allegations are put to him.

Fuel Price Increases Jolt Markets in Senegal

Senegal has raised fuel prices in a move the government says is necessary because of the sharp rise in global oil costs. The government said the increase simply returns fuel prices to their level before a cut introduced on December 6 last year. It blames the adjustment on the conflict in the Middle East, which began on February 28 and has driven up international oil prices. Since then, diesel prices have jumped by 69 percent and super petrol by 61 percent.

Senegal said it delayed the increase for as long as possible, but claims it has already absorbed more than 245 billion CFA francs in fuel subsidies since the start of the year. The government said the move is partial and measured, and that prices at the pump are still below import costs. It also says social protection measures will continue to shield vulnerable households.

Breaking Business and Market News Shorts:  

• Copper prices have lifted by around 1.7% today hitting a 10-day high and nearing record high levels as demand for copper returns to the market. This is being driven by a clear combination of physical market tightness and policy-driven flows. Uncertainty over possible US tariffs on refined copper, has pulled large volumes of metal into the United States, against constrained mining outputs.
• Japan’s 10-year government bond yield increased to 2.93% today, lifting to a 30-year high last seen in 1996. This while there is increasing expectations for a Bank of Japan interest rate hike despite weaker-than-expected GDP data. Preliminary figures showed Japan’s economy expanded at an annualised 1.1% in Q2, below market expectations of 2%, as weak domestic demand offset strong exports.
• The South African rand traded around 16.17 per US dollar today, maintaining its strength below R16.20, as softer US economic data strengthened expectations of a Fed pause and pressured the dollar. This encouraged demand for higher-yielding emerging-market assets, supporting the rand, while lower oil prices also eased inflation concerns.
• Hong Kong’s Hang Seng Index lifted 1.5%, or 375 points, to 25,490 today, rebounding from a fourth consecutive session of losses, with investors returning to buy up lower priced stocks. Technology stocks drove the recovery with SenseTime surging around 8.2% after the artificial-intelligence company forecast a first-half profit of RMB500 million to RMB700 million
• Japan’s industrial production rose 1.9% month-over-month in June 2026, exceeding flash data of 1.3% and picking up from a 0.1% increase in the previous month. It marked the third consecutive monthly expansion and the strongest growth since January, as manufacturing activity continued to recover amid easing supply chain disruptions

Markets by Numbers 

Currency markets indicate the US dollar weakening today. The Greenback is trading against the Euro at 1.15864 while trading against the Pound at 1.35542 The Yen is currently trading at 159.04 to the dollar. The rand (ZAR), is currently trading around the 16.16 mark against the US dollar this morning.

Commodities:  

• Gold futures are trading 0.4% higher this morning, and currently trading at around $4394.99 per ounce.  
• Copper prices are around 1.7% higher this morning, with prices currently around $6.7100 per pound
• Silver futures are up by 1.6% today, and currently trading at around $65.752 per ounce.
• Platinum futures are up 0.47% this morning, and currently trading at $1764.80 while Palladium is 0.7% higher today, and currently trading around $1336.00 per ounce.
• Lithium prices have seen a 0.9% lift today and currently at CNY153 000
• Brent crude oil prices are trending marginally higher today, and currently trading around $88.60 with WTI trading lower at $82.08 currently
• Cocoa futures are up around 0.94% today, and currently trading at $5773 per ton. 
• Coffee futures are up around 0.48% today, and currently trading at around $3.1430 per pound

Crypto Currencies: 

• Bitcoin prices are up by 0.98% today, currently trading at around $63 408 per coin.
• Ether prices are trending 1.23% higher this morning, and currently trading around $1896.66

(All prices as quoted at approximately 07H45 Central African Time) 

African General News Briefs:

• The US Senate has approved a two-year extension of the African Growth and Opportunity Act (AGOA), pushing its expiry date to the end of December 2028. The measure passed with a strong bipartisan vote of 90–6. It was included in a broader government funding/stopgap bill. AGOA grants eligible sub-Saharan African countries (currently around 32, including South Africa) duty-free access to the US market for more than 1,800 products, covering textiles, apparel, agricultural goods, vehicles and other manufactured items.
• The death toll after a ferry capsized on Zimbabwe’s Lake Kariba this last week has risen to 80 after more bodies were recovered on Sunday, the police said.The overloaded passenger ferry run by the government’s Rural Infrastructure Development Agency (RIDA) overturned on Tuesday in choppy waters. Officials say the boat was authorised to carry 90 people but was packed with 114 adults, five crew members and an unspecified number of children.