Breaking News Today – Thursday 2 April 2026

African Start-up News Headlines:

• Launch Base Africa has Published its Q1 2026 Investor Activity Report yesterday, giving a detailed analysis of Africa’s most active startup investors for Q1 2026. African startups raised $554.5 million across deals, an 8.2% decline from the same period in 2025. The report highlights a shift toward concentrated, high-conviction investing in asset-heavy and B2B infrastructure plays.The International Finance Corporation (IFC) emerged as the most active investor with four deals spanning quick-commerce (Egypt’s Breadfast), e-mobility (Kenya’s Arc Ride), proptech (Morocco’s Yakeey), and agritech (Ethiopia’s Lersha).
• The African Development Bank (AfDB) committed 7.5 million euros to Breega’s Africa Seed Fund, as reported yesterday. The fund targets early-stage African startups in fintech, agritech, healthtech, logistics, and climate tech, all sectors where seed capital remains hardest to secure.This injection directly addresses one of the continent’s biggest funding gaps: pre-Series A capital for high-potential founders. Breega, already active in French-speaking and emerging markets, will use the AfDB backing to scale its thesis-driven approach and provide not just cash but structured support for founders. The move signals strong institutional confidence in Africa’s early-stage ecosystem.
• Mastercard has announced a new partnership with South African fintech Scale (which recently raised $700,000 in new funding) to expand card-issuing capabilities across the continent. The collaboration, highlighted in the April 1 Frontier Fintech newsletter, will help Scale accelerate its B2B payments and embedded-finance offerings for African businesses. The partnership gives Scale access to Mastercard’s global network and compliance infrastructure, strengthening its position in cross-border and domestic card solutions.

Business News Today 

Kenya’s Tea and Flower Exports Hit by Iran Conflict Disruptions

Key export agricultural products in Kenya’s tea and horticulture sectors continue to suffer major disruptions and set-backs from Red Sea and Gulf shipping disruptions linked to the Middle East conflict. Weekly losses for flower exporters have now reached $1.4 million, with stocks piling up and demand softening. Tea exporters face similar pressures. Industry leaders are calling for urgent government support and diversification of shipping routes. The situation is compounding existing logistical challenges in East Africa.

While final 2025 figures are not yet available, the 2025 projection for the full-year flower export estimate for Kenya, sits at USD 1.1 – 1.15 billion revenue and forms approximately 9–10% of total merchandise exports from the country. Tea remains Kenya’s biggest single export earner by value, with 2025 revenue peaking at USD 1.44 billion and forming around 16% of total merchandise exports.

Iconic Tech Group Apple Turns 50

Apple officially turned 50 on Tuesday, 1 April 2026. The tech company was founded on 1 April 1976 by Steve Jobs – then only 21 years old, Steve Wozniak (25), and Ronald Wayne in the garage of Jobs’ parents’ home in Los Altos, California. Wayne sold his 10% stake just 12 days later for $800 (today that stake would be worth tens of billions).The company began in the garage of Jobs’ parents’ home in Los Altos, California.The company’s breakthrough came with the Apple II in 1977 with the first mass-produced personal computer with colour graphics and a plastic case. It sold millions and made Apple a household name. By 1980, Apple went public in one of the biggest IPOs since Ford, making Jobs and Wozniak instant millionaires.

Apple remains one of the most valuable public companies in history and is a beacon to Start-ups globally. Apple continues to trade at a premium valuation with CEO Tim Cook posting on social media: “50 years of Apple, 50 years of innovation. Thank you to our teams, our users, and everyone who’s been part of the journey.”

South African Revenue Service Head Announces Record Results and His Retirement

Edward Kieswetter, the Commissioner South African Revenue Services (SARS) announced the final tax revenue collection figures yesterday as well as his decision to step down from the key government post after steering the then troubled entity out of danger and into arguably the best run government entity in South Africa. Kieswetter revealed that SARS had achieved a record year of tax collection, hitting R2.01 trillion in the 2025/26 financial year. This was the first time collections exceeded the R2 trillion mark.

Kieswetter has been a stabilising force for the revenue services since he took the helm at the end of the South African “state capture era” under Jacob Zuma’s presidency. Public trust in SARS has recovered with a current public approval rating for SARS sitting above 70% compared to below 50% when Kieswetter took charge. Yesterday Kieswetter announced that Sars was had collected a R24.7 billion surplus above the amount estimated in the 2025 Budget. A successor has been appointed by President Ramaphosa and will be announced publicly in due time.

Breaking Business and Market News Shorts:  

• SpaceX, is poised to go public with owner Elon Musk having merged several entities into one major company recently, including his satellite connectivity company Starling and AI group XAi. The value of SpaceX, once it goes public is expected to surpass $1 trillion. That would make its stock market debut one of the most financially significant in history. Musk’s own holding in SpaceX would put the billionaire on track to become the world’s first trillionaire.
• Coca-Cola and its two authorised South African bottlers announced a R17.6 billion investment commitment through 2030. The funding will expand production capacity, strengthen distribution networks, and support local economic growth. It is expected to create jobs and boost downstream industries in packaging, logistics, and agriculture
• The ongoing Iran-related disruptions in the Strait of Hormuz have sent shockwaves through African fuel markets. South Africa implemented its April fuel-price hike (petrol +R3.06/l, diesel +R7.37–7.51/l) despite a temporary R3/l levy cut, while countries like Kenya, Ghana, and Nigeria face acute shortages and price spikes
• Brent crude oil futures have jumped by more than 5% this morning, reclaiming levels above $107 per barrel and halting a two-day decline, as hopes for an imminent resolution to the Iran conflict dimmed. In his rare prime-time speech, President Donald Trump gave no clear end date for the Middle East conflict

Markets by Numbers 

Currency markets indicate the US dollar gaining ground against major currencies today. The Greenback is trading against the Euro at 1.15318 while trading against the Pound at 1.32272. The Yen is currently trading at 159.35 to the dollar. The rand (ZAR), has weakened to trade around the 17.00 mark against the US dollar this morning.

Commodities:  

• Gold futures have slid over -2.3% this morning, and currently at around $4674.56 per ounce.  
• Copper prices are trending -1.7% lower today, with prices currently around $5.5240 per pound
• Silver futures have plunged more than -4.7% today, and currently trading at around $71.700 per ounce.
• Platinum futures are falling after several days of gains, and around -4% lower this morning, and currently trading at $1908.70, While Palladium prices are down by around -3% this morning, and currently trading around $1438.50 per ounce.
• Brent crude oil prices are trending higher today, with prices up over 5.7% and currently trading at $107.10. WTI is trading at 104.93 currently
• Cocoa futures are up by 1.36% this morning, with prices currently trading around $3345 per ton. 
• Coffee futures are up by 0.7% today, and currently trading at around $2.9993 per pound

Crypto Currencies: 

• Bitcoin prices are trending -2.4% lower this morning, and trading at around $66 396 per coin currently 
• Ether prices are lower by -4.3% today, and currently trading around $2043.99
• $Trumpcoin are currently trading lower at around $2.864

(All prices quoted at approximately 07H30 Central African Time) 

African General News Briefs:

• Nigeria’s House of Representatives, has approved President Bola Tinubu’s request for $6 billion in external financing. The package includes a $5 billion Total Return Swap with First Abu Dhabi Bank and a $1 billion UK Export Finance-backed loan for rehabilitating Lagos Port Complex and Tin Can Island Port. Funds will support budget implementation, infrastructure, and high-cost debt refinancing. The loans signal deepening ties with Gulf and UK financiers.
• The African Development Bank released its latest Africa’s Macroeconomic Performance and Outlook (MEO) 2026 report yesterday, highlighting broad-based growth in 2025 but warning of external risks from geopolitical tensions and commodity volatility. The report stresses the need for domestic resource mobilisation, energy security, and private-sector-led growth. It notes improved performance in several economies but flags debt sustainability and climate vulnerabilities. The launch, streamed live, featured calls for stronger policy alignment across the continent. Policymakers and investors are studying the forecasts closely as they prepare budgets and investment plans for the remainder of 2026.