Breaking News Today – Thursday 28 August 2025

Business & Tech News 

NERSA-Eskom Settlement a Blow for South African Tax Payers

On August 27, 2025, the National Energy Regulator of South Africa (NERSA) issued a media statement detailing a settlement with power producer Eskom regarding the Sixth Multi-Year Price Determination (MYPD6) revenue decision for 2025/26, 2026/27, and 2027/28 financial years. The agreement followed Eskom’s judicial review on July 2, 2025, challenging NERSA’s January 30, 2025, revenue approvals of R384.61 billion (12.74% increase), R409.524 billion (5.36%), and R436.86 billion (6.19%) for the respective years, citing a R107 billion shortfall due to errors in calculating depreciation and the Regulatory Asset Base (RAB) for its generation business. NERSA identified errors, including a R14.514 billion depreciation miscalculation and incorrect application of the cumulative balances principle, resulting in a R54 billion settlement, significantly less than Eskom’s claim. The settlement, pending court approval, avoids litigation, with R12 billion recoverable in 2026/27. No tariff hike applies for 2025/26, and the balance will be addressed later. NERSA emphasised balancing Eskom’s financial sustainability with consumer protection, maintaining regulatory independence. However the impact from this amount will be felt within budgetary constraints that are already impacting service delivery in the country.

Google Takes on Duolingo With New Language Learning Tool

Google announced yesterday the release ofa new AI-powered language learning feature for its Google Translate app, aimed at competing with platforms like Duolingo. This beta feature, rolled out on Android and iOS, targets beginners and advanced learners, offering personalized listening and speaking practice for English speakers learning Spanish or French, and vice versa, plus Portuguese speakers learning English. Users access it by selecting the “Practice” option, setting their skill level and goals, and engaging in tailored scenarios that adapt dynamically. Powered by Gemini AI models, the feature enhances accuracy and multimodal capabilities. It’s currently free during the beta phase, available in the US, India, and Mexico, and supports over 70 languages for live translation alongside the practice mode. This move positions Google Translate as a robust tool for language education.

China to Curb Steel Production

China is reported to be looking to reduce steel production between 2025 and 2026, according to an official document reviewed by Reuters. The world’s largest steelmaker pledged in March to restructure its giant industry, but withheld details on the scale and timing of reductions. Official data showed crude steel output fell by 3.1% in the first seven months of 2025, from a year earlier, to 594.47 million tonnes. The planned curbs align with Beijing’s goal of tackling chronic overcapacity that has long pressured global markets. Past attempts at production discipline have often faltered as local governments prioritized growth. At the same time, slowing demand from China’s property sector has already curbed consumption, raising doubts on whether cuts reflect policy drive or weaker fundamentals. Still, tighter Chinese supply could lend support to global steel prices as India and Southeast Asia expand infrastructure-led demand. The announcement follows a move by the US to introduce anti-dumping levies on imported steel.

Business, Tech & Market News Shorts: 

• The S&P 500 rose 0.2%, shifting the benchmark index past the record high it set two weeks ago. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite closed 0.2% higher. Stock price increases driving this gain included MongoDB , which soared 30% and Kohl’s, up over 20%.
• Thailand’s industrial production declined by 3.98% year-on-year in July 2025, falling more sharply than market expectations of a 1.1% drop and marking the first contraction since February. In April, the Industry Ministry lowered its 2025 industrial growth forecast to a range of 0%–1%, down from an earlier projection of 1.5%–2.5%
• The South African Reserve Bank is according to reports, weighing options on Crypto adoption within the scope of reserve holding assets and the use of stable coin as a form of currency. This is still in the investigative phase.
• Toyota Motor’s saw global sales rise in July for a seventh consecutive month, The company’s worldwide sales rose 4.8% year-on-year to 899,449 vehicles in July, a record for the month. Global vehicle production rose by 5.3% in July, its second consecutive monthly increase and a record for the month, driven by strong demand in North America and China.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is currently trading against the Euro at 1.16372 and against the Pound at 1.35007 The Yen is currently trading at 147.10 to the dollar. The rand (ZAR) is currently at R17.68 to the US dollar.

Commodities:

• Gold futures prices are trending lower this morning after a spike yesterday, and are currently trading around $3388.20 per ounce.  
• Copper prices are trading marginally lower today, with prices currently at $4.4128
• Silver futures prices are edging upwards today, and currently at $38.701
• Platinum futures are trading upwards this morning, and are currently trading at $1341.90 While Palladium prices are trading higher this morning and currently at $1094
• Brent crude oil prices are currently trading lower, and currently at $67.43, with WTI trading at $63.52 
• Cocoa futures are trending upwards this morning, and are currently at $7585.00 per ton. 
• Coffee futures are surging and up by over 3% today, and currently at $397.10

Crypto Currencies:

• Bitcoin prices are currently moving upwards today and currently at $112774 
• Ether prices are currently trending upwards today and at $4558.89 
• $Trumpcoin is currently trading around $8.50

(All prices quoted at approximately 07H45 Central African Time) 

Other Breaking News in Africa Today

Boniface to Face-off in Kenyan Presidential Election

Prominent Kenyan social justice campaigner and government critic, Boniface Mwangi, yesterday announced he plans to run for president in the 2027 elections. Boniface, a renowned photojournalist, activist, and politician. Initially gaining acclaim for documenting Kenya’s 2007-2008 post-election violence, he won the CNN Africa Photojournalist of the Year Award in 2008 and 2010. His announcement follows recent social unrest in Kenya where several protesters were shot and killed by police. Protests have been ongoing in the country against President William Ruto, and various policies he was to implement, as well as in protest of widespread police overreach, which has seen more than 100 people killed since June last year. The 42-year-old’s candidacy will test whether popular support for the protests, led by young Kenyans, can be translated into an electoral movement.Mwangi said there was an urgent need for leaders that put the welfare of ordinary Kenyans first and transformed their aspirations into workable policies. The next presidential and national elections will be held in 2027

Senegal Seeks Finality on Its IMF Debt Correction Appeal:

Senegal continues to lie in a financial freeze, with the International Monetary Fund (IMF) indicating it has not yet completed its discussions around the country’s debt misreporting case can be finalised and reviewed by its Executive Board. The delay follows intensive discussions between IMF teams and Senegalese officials over corrective measures to address the discrepancy. The situation arose in September 2024, with a startling discovery dramatic and statement from the administration that Senegal’s hidden debts had ballooned from $1.9 billion to over $11 billion. This triggered the freezing of a previously approved $1.8 billion IMF lending program. IMF mission chief Edward Gemayel said, “Discussions on several corrective measures will continue over the next few weeks before the misreporting case can be presented …”He assured that the IMF is ready to assist Senegal with an ambitious reform agenda once data is validated.