Breaking News Today – Thursday 28 May 2026

African Start-up News Headlines:

• AHL Venture Partners has closed a $30.5 million raise for its AHL Africa Credit Fund I, The fund will target scalable African startup businesses with flexible debt financing. AHL has deployed over $120 million in debt based investments across fintech, climate, and agriculture sectors through the AHL Charitable Foundation and syndications. The new fund, anchored by the AHL Foundation alongside three family offices, will offer senior secured, mezzanine, and bridge loans to African companies.
• Admaius Capital Partners have launched their Virunga Africa Fund II, targeting around $500 million in growth equity across five markets: Egypt, Kenya, Morocco, Rwanda and South Africa. The fund plans to back around 10 business, and will look to deploying tickets from $15 million to $50 million per investment. The fund will primarily seek majority holding stakes, although strategic minority positions will be considered. Sectors targeted include healthcare, education, FMCG, digital infrastructure and financial services.
• Kenya’s VunaPay Partners with Over 100,000 Farmers – Kenyan fintech/agritech startup VunaPay has announced it is now working with more than 100,000 smallholder farmers to solve delayed payments and improve access to markets and financial services. This marks significant traction for the platform in the agricultural value chain.

Business News Today 

Major Zimbabwean Gas Production Agreement Signed

Australia’s Invictus Energy, has signed a petroleum production sharing agreement (PPSA) with the Zimbabwean authorities yesterday. This is ​a key step in moving towards production at its Cabora Bassa gas project, company executives said. In ​2023, ⁠Invictus declared large gas condensate discoveries at its Mukuyu gas field, ​potentially opening up a new inland ​oil ⁠and gas frontier in Zimbabwe. Invictus is now preparing to drill its next Musuma-1 exploration ‌well ⁠in the second half of 2026, targeting 1.2 trillion cubic feet of gas and 73 million barrels of condensate resource according to company statements.

Invictus CEO ​Scott Macmillan indicated that the PPSA would ​be a hybrid model which meant the ⁠state could choose between taking a ​portion of the profits or a portion of ​the gas eventually produced. Zimbabwe’s finance minister, Mthuli Ncube, said the agreement ⁠was ​proof the Southern African country ​is determined to unlock its natural resources for future ​generations

Bitcoin Hits an Eight week Low

Bitcoin’s price has dropped sharply to around $72,960 this morning, extending a week of losses to a loss of around -6% and reaching its lowest level in eight weeks. This aligns with signs of cooling institutional demand and lack of Investor confidence in further short-term gains. US spot-Bitcoin ETFs have seen around $1 billion in net outflows so far this month, bringing a two-month streak of inflows to an end. Year-to-date Bitcoin is -16.69% down and down -31% year-on-year. Escalating tensions and U.S. military involvement related to Iran have triggered a classic risk-off move across global markets with Bitcoin being marked as a high-beta risk asset right now. Adding to the price squeeze, investor profit-taking has caused steady outflows this week as investors lock in gains from the recent rally.

Platinum Slides to a Two-Month Low

Platinum futures slipped to around $1,880 per ounce this morning, hitting a two-month low. The platinum market remains structurally tight, with the World Platinum Investment Council projecting a fourth consecutive annual supply deficit in 2026. Automotive demand also remains broadly resilient, supported by hybrid vehicle growth and tighter emissions standards, while jewelry consumption weakens under higher prices, particularly in China. Year-to-date Platinum is down by around-9%, however it remains up around +75% on a year-on year comparison.

South Africa, the largest producer of Platinum globally has seen Refined PGM output increase by 41% year-on-year in Q1 2026, while Mine supply (overall PGM), lifted by 22% year-on-year in Q1 of this year. Despite the improvements, analysts (including WPIC) expect South African mine production to remain relatively flat for the full year 2026 compared to 2025, or show only modest growth (around 1%).Total refined production is forecast to recover to approximately 4.0 million ounces (from a weaker 2025).

Breaking Business and Market News Shorts:  

• Gold prices have dropped below $4,400 an ounce this morning, hitting a two-month low as reports of fresh US strikes on an Iranian military site clouded the outlook for peace negotiations, keeping inflationary and interest rate concerns in focus. Gold is currently down more than 15% since the conflict began. Silver has also shed over 3% today hitting a 1-month low.
• Brent crude futures have climbed over 3% toward $98 per barrel this morning, recovering decline in price from the previous trading session as negotiations between the US and Iran remained deadlocked over several key issues tied to ending the conflict.
• The Bank of Korea (BoK) kept its policy rate unchanged at 2.5% at its May 2026 meeting, in line with expectations and marking the eighth consecutive hold, even as it remains in an easing cycle. The decision reflected policymakers’ cautious stance, as they balanced geopolitical risks against a softer won and a resurgence of inflation pressures
• Thailand’s industrial production unexpectedly fell 0.36% year-on-year in April 2026, defying market expectations of a 0.2% rise and reversing a 0.75% increase in the previous month. It was the first decline in industrial production since last November, in contrast, Taiwan’s TAIEX, index, lifted 225 points, or 0.5%, to 44,482 this morning, extending gains from the previous session buoyed by electronic and technology stocks.
• Nedbank Corporate and Investment Banking has structured and executed an R8.5 billion bespoke platform funding package for the Anthem Group (Anthem), supporting one of the largest, South African owned, fully integrated, independent power producers (IPPs).

Markets by Numbers 

Currency markets indicate the US dollar gaining against major currencies today. The Greenback is trading against the Euro at 1.15995 while trading against the Pound at 1.33927. The Yen is currently trading at 159.54 to the dollar. The rand (ZAR), is currently trading around the 16.45 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending over -1.4% lower this morning, and currently trading at around $4392.65 per ounce.  
• Copper prices are around -0.68% lower today, with prices currently around $6.2677 per pound
• Silver futures are around -1.47% lower today, and currently trading at around $73.197 per ounce.
• Platinum futures have dropped by -1.5% this morning, and currently trading at $1897.40, While Palladium prices have slid by around -2.2%, and currently trading around $1365.00 per ounce.
• Brent crude oil prices are trending almost 3% higher today, and currently trading around $97.11, with WTI trading at $91.59 currently
• Cocoa futures have modulated by around -0.7% this morning, and currently trading around $4040 per ton. 
• Coffee futures are trending around -1.5% lower today, and currently trading at around $2.6985 per pound

Crypto Currencies: 

• Bitcoin prices are down by around -1.9% today and trading at around $72 887 per coin currently 
• Ether prices are trending more than -2% lower today, and currently trading around $1975.49
• $Trumpcoin are currently trading at around $1.881

(All prices quoted at approximately 07H50 Central African Time) 

African General News Briefs:

• Uganda has closed its border with the Democratic Republic of Congo yesterday in an effort aimed to contain the Ebola outbreak that has affected its neighbour, the health ministry announced. Uganda has recorded seven cases of the Bundibugyo strain of Ebola since the outbreak was identified in the DRC in Mid-May. “Uganda is temporarily closing the border with the DRC with immediate effect,” health ministry permanent secretary Diana Atwine told reporters.
• The first flight of around 300 Ugandan citizens, repatriated from South Africa have arrived in the Ugandan Capital Kampala. The repatriation programme from South Africa was arranged amid fears there could be a resurgence of xenophobic violence against foreign nationals after waves of protests against illegal immigration in South Africa recently. Ghana’s government chartered the flight from Johannesburg, and further departures are expected in the coming days, with roughly 800 Ghanaians registered for repatriation.