Breaking News Today – Monday 27 July 2026

African Start-up News Headlines:

The Global Africa Business Initiative (GABI) has opened nominations for a new community-led campaign to recognise and celebrate entrepreneurs, business leaders and change-makers whose ideas, leadership and actions are driving Africa’s economic transformation. The campaign aims to recognise the business people whose work reflects the innovation, resilience and leadership driving Africa’s growth today. This global call to action leads into Unstoppable Africa 2026, GABI’s flagship event in New York from 20–21 September, co-convened by the United Nations and African Union and organized by the UN Global Compact. You can complete the nomination form here: Nominate your Unstoppable African

Business News Today 

South African Race-Based Employment Targets Challenged

On Sunday, 26 July 2026, Michael Bagraim, the DA’s spokesperson on employment and labour, announced that the Democratic Alliance (DA) will launch a constitutional challenge against the new laws, focusing on Section 15a of the Employment Equity Amendment Act. Bagraim said this was because the new code would require businesses to align their employment processes with government-set racial and gender targets. The draft Code puts the prescribed sectoral targets under section 15A of the Employment Equity Act into practice in workplaces.

These targets are set to give the government unconstitutional influence over the demographic and racial composition of workplaces across 18 sectors. Bagraim stated that “A law that forces employers to fire or refuse to hire people based on race is not redress. It is unconstitutional discrimination.” One of the most significant additions was empowering the Minister of Employment and Labour to set specific sectoral employment targets for designated employers (any company employing more than 50 people) to follow.

Eskom Lining Up Major Investment in Capacity

South African power utility, Eskom has outlined a R343 billion capital expenditure plan over the next five years (roughly 2026–2031). The plan covers investment in generation, transmission and distribution infrastructure. Importantly, management has stated that a large portion of this is intended to be funded internally from cash generated by operations. In parliamentary briefings, Eskom has clarified that only a more limited amount of new borrowing, in the region of R75 billion — was envisaged under strict conditions, rather than funding the entire R343 billion through new debt. The company currently sits with a large R360 billion in Debt that has seen a gradual reduction in play.

South Africa’s estimated rooftop solar power capacity has however reached 9,107.4MW as of June 2026. In the first 29 weeks of 2026, Eskom measured 98,840GWh of residual energy demand, down 9.1% from last year and 15.6% from the same period in 2022. While major industrial users of Eskom power have also seen a significant reduction, the question requiring keen deliberation is will Eskom now provide major industry users enough rate reduction in order to grow usage, help build the economy and drive employment?

Your Week Ahead – Major Economic Data Releases

South Africa

• Producer Price Index (PPI) – June 2026: Expected around 30 July. This is the key inflation-related release still pending after the CPI print earlier in the month. Markets will watch it closely for signs of pipeline price pressure, especially given the recent fuel-driven spike in consumer inflation.
• Leading Business Cycle Indicator (May data): Indicated for around 27 July.
• Other Stats SA releases scheduled: include tourist accommodation, international tourism statistics, and motor trade sales.

Breaking Business and Market News Shorts:  

• Brent Oil Futures dropped significantly this morning, by as much as -7% to just below $90 per barrel at one point, before lawing back some losses. The drop was a response to the US suspending strikes against Iran for a second consecutive night, easing concerns over supply disruptions in the Middle East following weeks of heightened conflict. 
• Gold prices have climbed more than 1% toward $4,100 an ounce this morning, accelerating away from nine-month lows as oil prices dropped sharply following a pause in hostilities between the US and Iran over the weekend, reducing concerns over supply disruptions and inflation. 
• Platinum futures are showing signs of recovery with a 1.7% jump in price this morning, and with prices extending above $1625.00. Last week saw prices fall below $1600, hitting a one-month low.
• South Korea’s KOSPI index, fell more than -1% to around 6,620 today, extending losses from the previous session as weakness in US technology stocks continued to weigh on investor sentiment. The decline followed another selloff on Wall Street, with investors staying cautious ahead of major US technology earnings and this week’s Federal R
• China’s industrial profits rose 18.7% yoy to CNY 3.95 trillion in the first half of 2026, easing marginally from an 18.8% growth in the January-May period. Resilient exports helped cushion the impact of sluggish domestic demand, highlighting the economy’s uneven recovery despite efforts to boost consumption.

Markets by Numbers 

Currency markets indicate the US dollar weaker today. The Greenback is trading against the Euro at 1.14088 while trading against the Pound at 1.33574 The Yen is currently trading at 163.53 to the dollar. The rand (ZAR), has weakened and is currently trading around the 16.71 mark against the US dollar this morning.

Commodities:  

• Gold futures are around 1.1% higher this morning, and currently trading at around $4096.70 per ounce.  
• Copper prices are around 0.36% higher this morning, with prices currently around $6.3245 per pound
• Silver futures are higher by over 2.5% today, and currently trading at around $59.447 per ounce.
• Platinum futures are around 1.75% higher this morning, currently trading at $1627.10, while Palladium is around 2% higher today, and currently trading around $1271.00 per ounce.
• Lithium prices are down by around -0.68% today and trading at CNY145 500
• Brent crude oil prices are trending over -5.4% lower today, and currently trading around $92.97 with WTI trading at $85.50 currently
• Cocoa futures are up by around 0.5% today, and currently trading at $5330 per ton. 
• Coffee futures are up by over 1.5% today, and currently trading at around $3.1409 per pound

Crypto Currencies: 

• Bitcoin prices are -0.32% today, currently trading at around $65 158 per coin.
• Ether prices are trending -0.6% lower this morning, and currently trading around $1941.61

(All prices as quoted at approximately 04H50 Central African Time) 

African General News Briefs:

• South Africa’s Finance Minister Enoch Godongwana has announced that he would be appointing a new ​board for the Public Investment Corporation (PIC), after ‌a series of board resignations at the state-owned asset manager. Eight board members, including Deputy Finance Minister David Masondo, ​who served as PIC board chair, have ​resigned. PIC CEO, Patrick Dlamini, remains on precautionary suspension. He was placed on suspension by the PIC board around 13 July 2026 following a whistleblower report alleging impropriety.
• Senegal’s President Bassirou Diomaye Faye, in an unusual political move, launched his own political party over the weekend, using the launch event to consolidate his support base. This confirms a permanent rift with his ally-turned-rival Ousmane Sonko who heads the country’s ruling Pastef party. The two, previously allies, who rose to power together in 2024 under the party’s banner, are widely expected to face off in the 2029 presidential election.