Breaking News Today – Thursday 30 April 2026

African Start-up News Headlines:

• Dodai Raises $13M Series A to Scale Electric Motorbikes in Ethiopia: Ethiopian electric mobility startup Dodai has secured a $13 million Series-A round funding to expand its fleet of electric motorbikes and charging infrastructure. The funding will support manufacturing localisation, rider financing programmes, and expansion into new cities. Dodai aims to address Ethiopia’s urban mobility challenges while reducing carbon emissions in one of Africa’s fastest-growing markets. Investors were drawn to the company’s strong unit economics and government alignment on green transport.
• The Canada-Africa Chamber of Business is set to hold a meeting of investors, financiers, policymakers, and industry leaders in Cape Town on May 14, 2026, for the Canada-Africa Financing Forum, a high-level platform focused on unlocking capital and accelerating investment across African markets. The event will be held at the V&A Waterfront and follows commitments made by Canadian Prime Minister Mark Carney at the G20 Leaders Summit deepening Canada-Africa commercial ties and expanding investment partnerships. The programme will connect leaders from venture capital, private equity, and institutional investment to examine where capital is moving across the continent and where the next opportunities lie.
• This year marks the 14th edition of Latitude59 in Tallinn, Estonia where 53 countries are represented at this year’s Latitude59 pitch contest. The competition’s grand prize fund has also expanded by an additional €100,000, reaching more than €400,000. There is a significant growth in African startup entries with 70 African startups applying this year, which is more than twice as many as last year.

Business News Today 

OPay’s Valuation Tops $3 Billion with IPO Plans in View

Nigerian super-app OPay is reportedly valued at over $3 billion, with early backers suggesting an IPO could be on the horizon. The company has achieved strong profitability and user growth in payments, lending, and e-commerce. The valuation reflects investor confidence in OPay’s ability to dominate Nigeria’s digital finance sector and expand regionally. An eventual listing would be one of the largest African tech IPOs in recent years.

Annual AVCA Conference & VC Summit 2026 Concludes Today

The African Private Capital Association (AVCA) summit, currently running in Nairobi, Kenya, will conclude today. The summit, themed “Break The Mold: Reshaping the Future of African Private Capital”, brought together over 800 investors managing more than $1.5 trillion in assets. This was the largest gathering of private capital investors focused on Africa, attracting over 800 participants.The summit brought together leading investors, fund managers, policymakers, and industry leaders managing over US$1.5 trillion in assets. The summit highlighted that Investors are increasingly favouring mergers and acquisitions over traditional VC exits as African startups mature. There was a strong emphasis on the growth in local capital mobilisation and a reported 72% rise in M&A exits in 2025. The event showcased a maturing ecosystem where domestic pension funds and family offices are often playing a bigger role in startup funding.

South African Law Firms to Tackle BEE Law Next Week

Three major South Africa’s law groups will be presenting their case to the Gauteng High Court next week to seek to set aside the legal sector’s black economic empowerment (BEE) code. They will be arguing that it is unlawful, impractical and risks undermining transformation rather than advancing it. The three law companies, Bowmans, Webber Wentzel and Werksmans have joined together on supporting the review application originally brought by Norton Rose Fulbright against the Legal Sector Code (LSC), which was gazetted in September 2024. The matter is scheduled to be heard from Monday, 4 May to Friday, 8 May. The law groups have made it clear that they support transformation, but argue that the current framework is “fundamentally misconceived” and could harm the very groups it is meant to benefit

China Introduces Zero Tariff Concession For African States

Officials and business leaders in South Africa and Kenya have welcomed China’s new zero‑tariff policy for 53 African nations, saying it will open fresh trade opportunities, cut costs for small businesses, and strengthen economic ties across the continent. Effective from May 1, China will grant zero‑tariff access to goods from 53 African countries that maintain diplomatic relations with Beijing. South African officials say the move will significantly expand the country’s export potential. “This is a fantastic opportunity. From May 1, we will take full advantage of it,” said Parks Tau, South Africa’s Minister of Trade, Industry, and Competition. 

Breaking Business and Market News Shorts:  

• Brent crude futures jumped above $113 per barrel this morning, reaching their highest levels since 2022 following reports that the US military would brief President Donald Trump on potential action against Iran, heightening fears that the conflict could escalate further. 
• The US Federal Reserve has kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was however not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other members objecting
• The 9th FITA forum opened on 29 April in Tunis yesterday and is set to promote intra-African trade and investment. More than 15 partnership agreements are expected from the meeting, with three major projects for Tunisian companies in Africa to be announced
• Gold traded around $4,550 an ounce this morning, hovering at a one-month low. This as surging energy costs intensified inflation worries and strengthened expectations that major central banks may need to raise interest rates. President Donald Trump said the US would keep its naval blockade on Iran in place until it agrees to a nuclear deal
• BNP Paribas has agreed to sell its majority stake in Moroccan bank BMCI to ​Holmarcom Finance Company, the two sides said on ‌Wednesday.Under the deal, HFC will acquire the 67% stake held by BNP Paribas in BMCI, according to a ​joint statement. The transaction is expected to be completed ​in the fourth quarter of 2026

Markets by Numbers 

Currency markets indicate the US dollar strengthening further against major currencies today. The Greenback is trading against the Euro at 1.16618 while trading against the Pound at 1.34629. The Yen is currently trading at 160.57 to the dollar. The rand (ZAR), is currently trading around the 16.89 mark against the US dollar this morning.

Commodities:  

• Gold futures are trended lower this morning but are showing signs of a small recovery, and currently trading at around $4567.65. per ounce.  
• Copper prices are trending relatively flat today, with prices currently around $5.8838 per pound
• Silver futures are trending upwards by around 1.4% today, and currently trading at around $72.336 per ounce.
• Platinum futures are around 0.9% higher this morning, and currently trading at $1918.00, While Palladium prices are trending 0.2% higher this morning, and currently trading around $1472.00 per ounce.
• Brent crude oil prices are trending around 0.1% higher today and currently trading around $113.45, WTI is trading higher at $109.21 currently
• Cocoa futures have climbed by around 0.9% this morning, with prices currently around $3410 per ton. 
• Coffee futures are trading level today, and currently trading at around $2.9070 per pound

Crypto Currencies: 

• Bitcoin prices are trending over lower this morning, and trading at around $75 627 per coin currently 
• Ether prices are around -0.4% lower today, and currently trading around $2243.87
• $Trumpcoin are currently trading lower at around $2.381

(All prices quoted at approximately 07H55 Central African Time) 

African General News Briefs:

• Large groups of protestors took to the streets in major cities in Gauteng yesterday, to protest their concerns of the increasing in illegal foreigners in the country. Crowds took to the streets of Johannesburg and the capital Pretoria against high levels of illegal immigration, which has sparked tensions between locals and foreign nationals.  The protestors raised concerns of what they see as foreign nationals taking advantage of the economic freedoms and many free services in the country.
• Zimbabwe has shipped its first consignment of lithium sulphate this week, lifting prospects for Zimbabwe to become a manufacturing hub for battery minerals processing.The news comes a few months following the country’s official ban on Lithium exports in a move to force local processing, and to boost export earnings, and create skilled industrial jobs. Chinese investors have invested large sums of capital in the country to build plants to process lithium, in a form that Zimbabwe would allow to be exported.