Breaking News Today – Monday 6 July 2026

African Start-up News Headlines:

• Catalyst Fund, a pre-seed VC fund and accelerator backing high-impact tech startups, has announced a US$30 million second close, bringing it closer to its target fund raise. With a strategic focus on solutions in agri-tech and fishery management, food systems, insurtech and climate fintech, cold chain, waste management, and water management, Catalyst Fund is expediting sustainable green growth. The pan-African venture fund and venture builder, led by Maelis Carraro, backs founders from pre-seed to Series A, and the new funding adds momentum to its mission of strengthening climate resilience across the continent. The fund’s past two accelerator raises , have supported 61 portfolio companies who have gone on to secure around $800m in follow-on funding, and currently serve more than 14 million underserved individuals and MSMEs globally
• Nigeria’s Bank of Industry (BOI) has appointed Kuramo Capital Management as fund manager for the $170.6 million Digital and Creative Enterprises (iDICE) Fund of Funds. Kuramo Capital will manage the investment vehicle while raising matching private-sector commitments alongside the Federal Government’s $85.3 million anchor investment.The DICE Fund of Funds forms part of the Federal Government’s broader iDICE Programme, which is backed by the African Development Bank (AfDB), Agence Française de Développement (AFD), and the Islamic Development Bank (IsDB).

Business News Today 

South Africa Private Sector Returns to Growth (PMI)

South Africa’s private sector returned to expansion in June, with the S&P Global PMI rising to 50.5 from 49.6 in May, signalling improving economic activity as inflation eases. Output and new orders grew modestly, though employment remained subdued. This marks a small but positive shift amid ongoing recovery challenges, with analysts eyeing Q3 GDP around 0.5% quarter-on-quarter. Both Output & New Orders showed modest growth for the period. New business inflows improved on the back of better domestic demand and some easing of cost pressures.Employment however, remains a key challenge as job creation stayed subdued as firms remained cautious amid high operating costs and uncertain outlook. The data offers cautious optimism for businesses navigating energy and logistical constraints.

Economists view this as consistent with expectations of Q3 GDP growth of around 0.5% quarter-on-quarter. It aligns with earlier data showing improving manufacturing and mining activity. However, the recovery remains fragile and uneven with services and construction still likely to lag.

Global Growth Slows Amid Middle East Tensions

The World Bank projects global growth slowing to around 2.5% in 2026 due to energy price spikes from Middle East conflict. Emerging markets, including Africa, face weaker per capita income growth. SA’s outlook is constrained but resilient, with oil shocks weighing on rand and inflation. Policymakers urged to build fiscal buffers.

Emerging Markets & Africa will face the weakest per capita income growth since the pandemic according to the projections. Higher energy/import costs are anticipated to weaken currencies, elevate inflation, and constrain fiscal space. Commodity exporters may see mixed effects, but overall trade and investment flows are expected to be dampened. Advanced Economies are expected to see tighter monetary policy responses in the US/Europe that could compound the slowdown. Global supply chain disruptions are expected to add further friction.

Legal Rhino Horn Sales Allowed – Court Ruling

In a landmark appeals court case, the South African government’s appeal to overturn a ruling allowing the export of horns from captive rhinos was dismissed by the Northern Cape High Court last Friday. While conservation communities have differing opinions, most rhino conservationists believe that a legal and organised trade in rhino horns will help end the often violent and deadly rhino poaching trade and allow rhino farmers the ability to build financial capacity to protect their animals further. Wicus Diedericks, the owner of a farm with 450 rhinos, argued in court that sale of the horns, via legal international sales systems of ethically trimmed rhino horns, will help fund expensive farming and protection operations and ensure long term survival of the rhino populations that have faced possible extinction.

“This historic decision validates the rights of private conservationists and breeding facilities to fund their critical, high-cost protection efforts through the legal international trade of ethically trimmed horns,” Diedericks said in a statement.

Breaking Business and Market News Shorts:  

• Sony has announced that physical game disc production for all new Sony Playstation games will be discontinued as of January 2028. Following this date, new games will only be available on PlayStation Store and at retailers in digital formats only. This transition has no impact on games that are already released, or will be released, prior to January 2028 in disc format.
• Samsung Electronics, is likely to indicate an operating profit jump of around 18-times, ​to hit another record high from a year earlier in the second quarter, as AI growth continues to strain memory supply and push chip prices ‌higher. Tomorrow they will release their Q2 results, with an expected operating profit of 86 trillion won ($56.35 billion) according to an LSEG SmartEstimate based on forecasts from 30 analysts.
• Gold traded just below $4,200 an ounce this morning, maintaining gains from last week, as weaker-than-expected US jobs data and lower oil prices led traders to scale back expectations for Federal Reserve interest rate hikes. Oil prices have also edged lower as recovering energy flows through the Strait of Hormuz and the prospect of increased OPEC+ supply boosting gold futures.
• India’s BSE Sensex rose about 0.5% to 78,148 at the open today, continuing its winning streak into a fourth session. The gains were led by financial stocks after strong quarterly business updates from major private lenders, with HDFC Bank and Axis Bank providing a lift to broader market sentiment.

Markets by Numbers 

Currency markets indicate the US dollar gaining momentum today. The Greenback is trading against the Euro at 1.1474 while trading against the Pound at 1.33391 The Yen is currently trading at 162.09 to the dollar. The rand (ZAR), is currently trading around the 16.25 mark against the US dollar this morning.

Commodities:  

• Gold futures are around -0.5% lower this morning, and currently trading at around $4146.90 per ounce.  
• Copper prices are around marginally lower this morning, with prices currently around $61.620 per pound
• Silver futures are around -1.2% lower today, and currently trading at around $61.652 per ounce.
• Platinum futures are trending upwards and around -0.53% lower this morning, currently trading at $1644.80, while Palladium is around -0.4% lower today, and currently trading around $1267.50 per ounce.
• Brent crude oil prices are trending marginally higher today, and currently trading around $72.22, with WTI trading at $69.01 currently
• Cocoa futures are slightly softer by around -0.37% today, and currently trading at $5017 per ton. 
• Coffee futures are around -0.34% lower today, and currently trading at around $3.0216 per pound

Crypto Currencies: 

• Bitcoin prices are -0.78% softer today, currently trading at around $63037 per coin.
• Ether prices are trending -0.6% lower this morning, and currently trading around $1771.19
• $Trumpcoin are currently trading at around $1.666

(All prices quoted at approximately 08H10 Central African Time) 

African General News Briefs:

• Egypt has announced over the weekend that it is expecting to receive a €1.5 billion ($1.72 billion) package from the European Union this week. The financial package will be the first of two tranches of a $5.7 billion macro-financial assistance package. Egypt’s Foreign ​Minister Badr Abdelatty said Cairo hoped the last payment would be transferred ‌by ⁠the start of autumn (September2026). The European Union sees this as strengthening their strategic relationship with Egypt that it views as a key ally in the North Africa/Middle East region.
• Nigeria’s government has stated yesterday that two of its citizens were killed in South Africa last month during xenophobic violence targeting African immigrants. In a statement, it added that they died on 28 June in the build up to an end-of-month unofficial deadline by anti-illegal immigrant groups for foreigners to leave the country. According to Nigeria, one of the men was allegedly killed by police officers in Pretoria and the other by unidentified attackers in the Mpumalanga province. There has been no comment yet from the South African police.