Breaking News Today – Monday 29 June 2026

African Start-up News Headlines:

• Stabyl, an exchange platform that allows banks, PSPs, and traders to access deep FX stablecoin liquidity, has raised $2.7 million in pre-seed funding. This will be used to further develop their foreign-exchange liquidity platform for financial institutions and payment service providers in Africa. The unique fintech allows international payments to bypass the friction of traditional FX bottlenecks, by combining real-time rate discovery with unified liquidity to deliver a high-throughput settlement experience. The funding round was led by Konga, which will also serve as Stabyl’s first real-world test case and naira settlement partner through KongaPay. The startup was founded by Prince Nnamdi Ekeh, Zachary Schwartzman and Michael Anyi.

Business News Today 

South African Businesses Brace for Protest Action on Immigrants

Police and security services are reported to be on high-alert in major cities around South Africa, as planned protest action against illegal immigrants in the country are set to roll out this week. There are heightened fears from business owners, many of whom have already seen intimidation tactics and threats over the past weeks, that supposedly peaceful protests could turn violent, as they have done in July 2121 where week long protests ended in 350 deaths and over 50 billion ZAR in damages. Many businesses in cities such as Johannesburg have already made the call to close their business tomorrow or have staff work from home. However manufacturing and retail outlets have a difficult decision to make. Close shop or risk being caught in potential violence.

The South African police service and military are reportedly on standby to deal with potential violence and primal activity. However past experience has shown that they may not be able to contain mass crowds or protestors going on a violent rampage.

$5.1 Billion Oil Project Approved for Angola

Azule Energy (BP-Eni JV) and partners, have formally signed off on the $5.1 billion Greater PAJ offshore oil development. The project spans Blocks 14 and 15 and is expected to produce up to 150,000 barrels per day at peak, with first oil targeted for 2029–2030. This is one of the largest new investments in Angola’s oil sector in recent years. It is expected to create substantial local jobs, boost government revenue, and help sustain national oil production. The announcement is seen as a strong vote of confidence in Angola’s upstream sector.The project Includes subsea infrastructure, tie-backs to existing facilities, and significant local content requirements with first oil production expected by 2029–2030.

Your Week Ahead -Key African Economic Data Releases – This Week

This week will see the African Development Bank (AfDB) likely to release updates on several major infrastructure financing deals, possibly including energy and transport projects.The AfCFTA Secretariat is expected to provide progress updates on Phase II negotiations (investment, competition, and intellectual property protocols).

South Africa – CPI Inflation (June data) – Tuesday 30 June and GDP Growth (Q1 2026 final) – Wednesday 1 July

Nigeria – PMI (Purchasing Managers’ Index) – Tuesday 30 June and Foreign Reserves Update

Kenya – Central Bank of Kenya Rate Decision – Thursday 2 July plus the Weekly Inflation Snapshot

Egypt – CPI Inflation – Thursday 2 July

Ghana – Monetary Policy Committee Rate Decision – Monday 29 June

Angola– Oil Production & Export Data (expected mid-week)

Breaking Business and Market News Shorts:  

• Gold fell to below $4,050 an ounce earlier today, breaking a two-day rebound as renewed exchanges of attacks between the US and Iran over the Strait of Hormuz lifted oil prices and rekindled inflation concerns. The conflict escalated since Thursday, with Iran targeting a container ship, a vessel carrying Qatari oil, and military bases in Kuwait and Bahrain, prompting multiple US retaliatory strikes.
• Cocoa futures rose further to cross $5,000 per tonne last week, hitting the highest since January, driven by short covering and weather-related supply concerns. Traders continued to monitor the end of the mid-season harvest in West Africa, while also eyeing the September main crop amid weather concerns
• Copper futures fell toward $6.1 per pound this morning, ending a two-day recovery, as expectations of tighter US Federal Reserve policy continued to weigh on the outlook for industrial metals demand.
• Platinum futures traded around $1,600 an ounce today, close to their lowest level since November 2025 as precious metals broadly weakened after renewed clashes in the Middle East reignited inflation concerns. the platinum market remains structurally tight as output from major producers South Africa and Russia remains constrained

Markets by Numbers 

Currency markets indicate the US dollar marginally softer today. The Greenback is trading against the Euro at 1.13950 while trading against the Pound at 1.32110 The Yen is currently trading at 161.78 to the dollar. The rand (ZAR), is currently trading around the 16.44 mark against the US dollar this morning.

Commodities:  

• Gold futures are around -0.8% lower this morning, and currently trading at around $4051.70 per ounce.  
• Copper prices are fairly flat today, with prices currently around $61.520 per pound
• Silver futures are around -2.3% lower today, after a steep drop yesterday, and currently trading at around $58.498 per ounce.
• Platinum futures are around -1.4% lower this morning, currently trading at $1624.90, While Palladium is marginally higher today, currently trading around $1222.50 per ounce.
• Brent crude oil prices are trending marginally lower today, and currently trading around $71.82, with WTI trading at $69.51 currently
• Cocoa futures are down around -2% today after big gains last week, and currently trading at $5095 per ton. 
• Coffee futures are trending around -1% lower today, and currently trading at around $2.7320 per pound

Crypto Currencies: 

• Bitcoin prices are 0.8 higher today, and trading at around $60 000 per coin currently 
• Ether prices are 0.8% higher this morning, and currently trading around $1585.14
• $Trumpcoin are currently trading at around $1.664

(All prices quoted at approximately 08H00 Central African Time) 

African General News Briefs:

• Uganda’s leading independent media group, the Nation Media Group said it is under a “military siege” after Uganda’s army chief ordered the shutdown of its newspapers, TV station, and radio outlets. According to reports, NTV Uganda and Spark TV were forced off air after armed soldiers surrounded the Nation Media Group (NMG) Kampala offices yesterday. The stations went off air in the early hours of Sunday, with local media reporting that the broadcasts displayed the message: “Video unavailable”. Headquartered in Kenya, NMG is East Africa’s largest independent media company, and in Uganda also owns the influential Daily Monitor, The East African, and other platforms. Uganda’s military head Muhoozi Kainerugaba, stated “In Uganda, I DO NOT believe in a free press! The press should be guided by cadres of the revolution,” he said in a post on X.
• Mass exodus of foreign nationals from South Africa occurred over the past weekend. The planned nationwide marches in South Africa, have sparked fears of renewed xenophobic violence, following weeks of unrest that have already left several people dead. Countries including Malawi, Zimbabwe, Mozambique, Nigeria, Ghana, Kenya, and the Democratic Republic of Congo are helping their citizens return home voluntarily. More than 15,000 Malawian nationals have already been processed to leave the country, with thousands more waiting in temporary camps, while at the Beitbridge border crossing alone, over 8,200 foreign nationals were repatriated in less than two weeks