Breaking News Today – Monday 22 June 2026

African Start-up News Headlines:

• Holocene Ventures Climate Tech Fund Begins Capital Deployment – Southern Africa-focused climate tech investor Holocene announced the first deployments from its newly closed $3M fund. Initial investments target startups in renewable energy and climate adaptation. This marks a significant boost for green tech entrepreneurs in the region and reflects growing LP interest in Africa-focused climate solutions. The firm typically takes a hands-on approach and invests in Seed to Series A stages. Deployment is still in early stages, and detailed announcements of the first investments are expected in the coming weeks.
• Senegalese Startup Nixacom Rolls Out its Auto Apply Platform: Nixacom officially launched its AI-powered Auto Apply onboarding tool for African companies. The platform simplifies hiring, background checks, and compliance processes. Aïssatou Diop, Co-Founder & CEO, Nixacom says that “Auto Apply is built for the reality of African hiring. We’ve simplified onboarding and compliance so companies can focus on growth instead of paperwork. In markets where talent is abundant but administrative friction is high, this tool changes the game.”

Business News Today 

Brent Crude Prices Ease After Gains This Morning

Brent Crude Oil prices shifted below $80 per barrel this morning, losing ground from earlier gains as markets reacted to signs of progress in the ongoing peace talks between the US and Iran. According to a joint statement from Qatar and Pakistan, who are facilitating negotiations in Switzerland, both sides have agreed to a roadmap aimed at securing a final agreement within 60 days. Oil prices started today’s trading session sharply higher after President Donald Trump threatened fresh strikes if Hezbollah continues attacking Israel and warned Tehran against closing the Strait of Hormuz again.

Iranian media later reported that Tehran had suspended talks in response to Trump’s remarks, though sources familiar with the negotiations said discussions were still underway. Meanwhile, reports confirm that millions of barrels of crude continued to pass through the Strait of Hormuz over the weekend, while producers across the Persian Gulf are preparing to increase output significantly.

Copper Project Expansion in Zambia Anticipated

Zambia’s ZCCM Investment Holdings (ZCCM-IH) has stated that Vedanta Resources’ planned IPO of its copper unit could accelerate the $2.7 billion expansion project at their jointly owned Konkola Copper Mines (KCM). Vedanta Resources first publicly announced plans to list its copper business on the London stock exchange, with possible secondary listings in India, in April 2025.

The expansion aims to significantly increase copper production at KCM, one of Zambia’s largest mining operations. ZCCM-IH believes the IPO would provide Vedanta with additional capital and improved market access, helping to fast-track the long-delayed project.The move comes amid Zambia’s efforts to boost copper output as global demand for the metal rises due to the energy transition.KCM has faced production challenges in recent years, and the expansion is seen as critical for reviving output and creating jobs.

Nando’s Factory Closes After 25 Dry Shifts – No Water, No Peri Peri

A major Nando’s sauce manufacturing facility in Johannesburg has been forced to close after operating for 25 consecutive shifts without reliable water supply. The factory, which produces popular sauces and condiments for the South African and regional market, cited severe water disruptions as the primary reason for the shutdown. The closure has raised concerns about job losses (the factory employs several hundred workers) and supply chain disruptions for retailers.

According to reports, the plant, which is part of a larger food processing group, experienced prolonged interruptions from Johannesburg Water, with pressure drops and outages lasting days. Management stated that without consistent water for cleaning, processing, and sanitation, continuing operations posed serious hygiene and food safety risks, forcing the difficult decision to halt production.

Key African Economic Data Releases This Week (22–28 June 2026)

• South Africa
  • Monetary Policy Committee (MPC) Interest Rate Decision (Thu 26 Jun)
  • CPI Inflation Data (expected mid-week)
• Nigeria
  • CPI Inflation Report (likely Tue/Wed)
  • Foreign Reserves Update
• Kenya
  • Central Bank Rate Decision (expected Thu 26 Jun)
  • Weekly Inflation & Forex Update
• Egypt
  • Balance of Payments & Trade Data (mid-week)
  • Possible PMI Flash numbers
• Ghana
  • Monetary Policy Committee Meeting & Rate Decision (Mon 23 Jun)
• Zambia
  • Copper Production & Mining Output Update (expected this week

Breaking Business and Market News Shorts:  

• Platinum futures have dropped to around $1,660 an ounce this morning, hitting a seven-month low as uncertainty over US–Iran peace negotiations kept inflation risks elevated. The high-level talks had a shaky start, but ended with signs of progress after the US and Iran agreed on a 60-day roadmap toward a final deal. 
• The Namibian finance ministry has said that Paris-based financial crime watchdog the ​Financial Action Task Force (FATF) was ‌removing it from its “grey list” of countries under special scrutiny to implement standards to ​prevent money laundering and terrorism ​financing. The finance ministry said ​an ⁠on-site assessment by the FATF was successful after the watchdog earlier found ⁠it ​had largely addressed the ​13 deficiencies.
• Absa Group has indicated it plans to increase its stake in Absa Bank Kenya to as much as 85% through a tender offer worth ​about $238 million. South African banks have been stepping up acquisitions in ​East Africa, filling a vacuum left by retreating European banks ⁠and riding a wave of increased continental trade and investments into energy ​and infrastructure.
• China’s he Shanghai Composite edged down 0.2% to 4,084 today, while the Shenzhen Component gained 0.6% to a more than one-month high of 16,120, as investors returned from a holiday and assessed the PBOC’s decision to keep key lending rates unchanged at record lows for a thirteenth straight month. 

Markets by Numbers 

Currency markets indicate the US dollar stronger today. The Greenback is trading against the Euro at 1.14584 while trading against the Pound at 1.32152 The Yen is currently trading at 161.56 to the dollar. The rand (ZAR), is currently trading around the 16.42 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending almost 1% higher this morning, and currently trading at around $4194.07 per ounce.  
• Copper prices are around -0.19% lower today, with prices currently around $63.149 per pound
• Silver futures have gained around 1.7% today, and currently trading at around $65.961 per ounce.
• Platinum futures have gained marginally after losing ground earlier this morning, and currently trading at $1670.70, While Palladium prices are around 1% higher today, and currently trading around $1274.50 per ounce.
• Brent crude oil prices are trending -2.2% lower today, and currently trading around $78.88, with WTI trading at $75.14 currently
• Cocoa futures are trading 0.4% higher this morning, and currently trading at $4254 per ton. 
• Coffee futures are trending around -0.74% lower today, and currently trading at around $2.6582 per pound

Crypto Currencies: 

• Bitcoin prices are -0.52% lower today, and trading at around $64 173 per coin currently 
• Ether prices are 1.8% higher this morning, and currently trading around $1735.72
• $Trumpcoin are currently trading at around $1.909

(All prices quoted at approximately 07H35 Central African Time) 

African General News Briefs:

• According to official data released yesterday, Senegal’s ruling Prosperity Party, won 438 of the 501 contested seats in the general election and will now form the new government with current incumbent Ethiopian Prime Minister Abiy Ahmed, set to be sworn in for another term at the beginning of October. This is a positive result for the country with Abiy able to continue with the economic gains he has overseen during his first term in office. Abiy Ahmed has been a central figure in advancing the Grand Ethiopian Renaissance Dam (GERD) hydro electric project, that is set to transform the Ethiopian economy.
• A hacker group – Black X, have published a large data set of what the group alleges to be the personal information of South African political party – the ANC members on the deep web. This includes details of top government officials. Around 2.3 million records were included, which allegedly contain the full names of ANC members, as well as ID numbers, phone numbers, and physical and email addresses. The leak follows a data breach, claimed by the hacker group in August 2025, of the entire ANC’s membership platform.