Breaking News Today – Monday 24 August 2026

African Start-up News Headlines:

• South African Legal-Tech startup, My AI Lawyer, enabled by ViaMedia, is rolling out AI-powered legal advice across mobile networks in South Africa via a WhatsApp platform. My AI Lawyer can help with a range of everyday legal matters, including workplace disputes, consumer rights, family law, landlord and tenant issues, contracts and debt. Available 24 hours a day. Mobile network Cell C subscribers, can currently access AI-powered legal guidance from My AI Lawyer for just R5, with the cost deducted directly from their airtime. This makes affordable legal guidance easier to access, particularly for people who do not have a debit or credit card.
  

Business News Today 

African Private Equity Group Gains Controlling Stake in Global Edu-Tech Group

Alterra Capital Partners, a Private Equity group that has already invested roughly $1.9–2 billion across 20 odd companies in Africa, is set to acquire control of Unicaf, an online and blended learning platform focused on sub-Saharan Africa. Unicaf, a Cyprus founded edu-tech, provides online university programmes, blended learning, vocational training and upskilling courses. It partners with universities in Europe, Africa, the US and the UK, and also operates a multi-campus university model serving students across the continent. 

Existing backers include British International Investment (BII) and Juven Africa (a Goldman Sachs spin-off). No specific deal value has been publicly disclosed. Alterra Capital Partners is a Johannesburg-based, Africa-focused private equity firm formed in 2020 by former members of the Carlyle Africa team. The group will be using its Mauritius-based special acquisition vehicle, TrumpetFish HoldCo (controlled by the Alterra Africa Accelerator Fund), to take control of Unicaf once the deal receives the necessary legal approvals.

Egyptian Investors Look to Nigerian Opportunities

More than 40 Egyptian investors have indicated and interest in projects in Ekiti State, Nigeria, with a potential investment pipeline of up to $500 million. The interest was generated during the Ekiti-Egypt Industrial Investment Mission held in Cairo in July 2026. This initiative is aligned with State Governor, Biodun Oyebanji’s plan to attract international investment, create jobs, and increase domestic processing of local resources. The Immediate to medium-term projects could see around $200 million invested, with total opportunities potentially reaching $500 million if more projects proceed.

Among the investment opportunities are commercial maize and soybean production, which requires between $2 million and $5 million investment, as well as certified seed production, which is anticipated to cost $1 million to $3 million. A planned integrated agro-industrial partnership is also looking to raise between $75 million and $150 million. The project would include wet corn milling, starch production, animal feed manufacturing, poultry, and large-scale farming.

Rand Strengthens to below R16 to US dollar

The South African rand has strengthened to its firmest levels against the US dollar since early March 2026, trading below R16/$ as of this morning (24 August 2026). Recent data shows USD/ZAR around 15.98–16.01 (mid-market rates near 16.00–16.005, with intraday lows near 15.984–15.99). It briefly broke below 16 earlier in the week. This marks the strongest stretch since the sharp weakening after the late-February 2026 Middle East conflict escalation, when the rand had previously traded near or below 16 earlier in the year before climbing toward 17+. 

The primary driver is a weaker US dollar: The DXY (US Dollar Index) has fallen to around 98.8 (from levels above 101 in late July), near multi-month lows. Gold has risen sharply (from the low-$4,000s earlier in August to above $4,600/oz recently), providing a clear terms-of-trade boost for South Africa as a major producer. Platinum-group metals have been firmer overall (platinum in the $1,700+ range, palladium around $1,250–1,350), offering secondary support given SA’s large PGM output.

Breaking Business and Market News Shorts:  

• Gold futures lifted to around $4,650 an ounce this morning, extending last week’s gains and reaching its highest level since mid-May 2026. This as concerns over US debt management and fiscal sustainability continued, following the Treasury’s unexpected ramp-up in longer-dated debt buybacks. The move pushed bond yields and the dollar lower, reviving the so-called debasement trade and boosting gold’s appeal 
• Stocks on China’s SHANGHAI 50 index hit a four- week low today and decreased to 2868.00 Index Points, the lowest since July 2026. Over the past 4 weeks, Shanghai 50 lost 2.78%, and in the last 12 months, it decreased 4.06%.
• Brent crude oil dropped to around $93 per barrel this morning, following rapid price spikes last week. Oil investors took profits ahead of Washington’s announcement of what Treasury Secretary Scott Bessent called the “single greatest financial offensive ever” against Iran. The new measures are expected to expand sanctions on Iran’s banking, energy, aviation and cryptocurrency sectors 
• Vehicle sales accelerated by 13% across Europe in July, while Electric Vehicles (Ev’s)s account for 25.7% of new car sales in this market. The growth is being driven by high oil prices, EV subsidies and availability of more ​affordable models encouraging consumers to replace their combustion-engine vehicles.
• Alibaba shares fell 8% in early Hong Kong trade today, after the tech company finalised ​a HK$80 billion ($10.21 billion) share placement at HK$112.70 ‌per share, in a deal aimed at funding artificial intelligence-related development.

Markets by Numbers 

Currency markets indicate the US dollar softer today. The Greenback is trading against the Euro at 1.16798 while trading against the Pound at 1.36444 The Yen is currently trading at 158.92 to the dollar. The rand (ZAR), is currently trading around the 16.00 mark against the US dollar this morning.

Commodities:  

• Gold futures are up 0.6% this morning, and currently trading at around $4635.96 per ounce.  
• Copper prices are surging this morning, down by -0.52%, with prices currently around $6.5452 per pound
• Silver futures are down -0.32% today, and currently trading at around $68.751 per ounce.
• Platinum futures are marginally softer this morning, and currently trading at $1892.30 while Palladium is up 0.17% today, and currently trading around $1353.50 per ounce.
• Lithium prices have seen a 5.42% jump today, and currently at CNY160 500
• Brent crude oil prices are trending -1.47% lower today, and currently trading around $93.00 with WTI trading lower at $85.64 currently
• Cocoa futures are marginally lower today, and currently trading at $6034 per ton. 
• Coffee futures are down around 2% today, and currently trading at around $3.2265 per pound

Crypto Currencies: 

• Bitcoin prices are down by -1.16 % today, currently trading at around $76 938 per coin.
• Ether prices are trending -0.9% lower this morning, and currently trading around $2440.21

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

African General News Briefs:

• Egypt and Iran are intensifying diplomatic talks to de-escalate tensions between Iran and the US, seeking a fair peace deal. The Foreign ministers of both countries held discussions over the weekend on how to boost regional stability and resume negotiations, including those mediated by Oman. Key issues discussed include the implementation of a US-Iran memorandum and the security of global maritime routes, especially the Strait of Hormuz.
• Joseph Kabila who led The `Democratic Republic of Congo from 2001 to 2019 is seeking to have his name removed from a US Treasury blacklist.  Kabila contends that his sanctioning by the Office of Foreign Assets Control (OFAC) in April was based on unsubstantiated allegations. Washington has accusesdKabila of financing and offering political support to Rwanda-backed M23 rebels who seized two Congolese provinces last year. After years in self-imposed exile, Kabila emerged in Goma last year only months after the city fell to the rebels. A Congolese military court has sentenced Kabila to death in absentia for treason and other charges over his role with M23.