Breaking News Today – Tuesday 2 September 2025

Business & Tech News 

Blue Label to Seek Cell C Listing

Blue Label Telecoms announced yesterday that it had entered into a binding implementation agreement relating to the pre-listing restructuring of mobile network opperator Cell C, with the view to optimising Cell C’s capital structure and balance sheet in preparation for a separation and listing of the business on the JSE,” Blue Label stated. Blue Label, the holding group of Cell C said the pre-listing restructuring would include the transfer of airtime with a sales value of R7.3 billion–R7.5 billion, including VAT, from TPC to Cell C in exchange for Cell C equity shares. they would also convert various claims totalling R3,676,852,511 held by The Prepaid Company (TPC)  against Cell C into Cell C equity shares.

The move would see the transfer of 100% of the shares in Comms Equipment Company (CEC) by TPC to Cell C in exchange for Cell C equity shares, at R2.15 billion. They emphasised that the announcement does not constitute an “Intention to Float” notice. “The Cell C Listing remains subject to, amongst other things, market conditions, shareholder, regulatory and other relevant approvals,” it said.Blue Label said the pre-listing restructuring is subject to the fulfilment or waiver of suspensive conditions required for the potential listing.

Mixed Market Data for South Africa

The South African rand firmed slightly against a weaker dollar on Monday, after the release of mixed local automotive sales data showed improvement with a counter to a research note from Nedbank, said that they had expected annual growth in new vehicle sales to slow to 13.9% in August from 15.6% in July.
At 1251 GMT the rand traded at 17.59 against the dollar, about 0.3% up from Friday’s close but has subsequently softened to 17.64 this morning. On the down-side, South African manufacturing sentiment deteriorated in August after an improvement in July, as activity remained subdued and both domestic and export demand were sluggish, according to the Purchasing Managers Index (PMI) data released yesterday.

Total Wins Major Congo Oil Exploration Permit

French oil giant Total has been granted a new oil exploration permit by Congo to explore a block off its coast, the company said yesterday. Total’s Congo affiliate will operate the block with a 50% stake while QatarEnergy will keep 35%. The balance of the partnership shares will be held by Congo’s state oil company, SNPC. The permit is for the Nzombo area located 100km off Pointe-Noire on the Atlantic Ocean, which comprises an exploration area size of 1,000 square kilometres. According to Total, the drilling of the first exploration well is expected to happen before the end of 2025. Total currently produces 65,000 barrels of oil per day in the Republic of Congo. From January to July 2025, the country produced 56.9 million barrels (268 thousand b/d), which is 5.2% more than a year earlier. The target is to produce 500,000 bpd by 2027.

Business, Tech & Market News Shorts: 

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is currently trading against the Euro at 1.17048 and against the Pound at 1.35315. The Yen is currently trading at 147.98 to the dollar. The rand (ZAR) is currently at R17.61 to the US dollar.

Commodities:

• Gold futures prices are trending upwards this morning, and are currently trading around $3487.88 per ounce.  
• Copper prices are trading lower today, with prices currently at $4.5033
• Silver futures prices have softened marginally, and currently at $40.684
• Platinum futures are trading marginally softer this morning, and are currently trading at $1419.30 While Palladium prices are trading around -0,5% lower this morning and currently at $1140.00
• Brent crude oil prices are currently trading Upwards, and currently at $68.52, with WTI trading at $64.96 
• Cocoa futures are trending lower this morning, and are currently at $7635.00 per ton. 
• Coffee futures are marginally higher today, and currently at $398.09

Crypto Currencies:

• Bitcoin prices are currently trending upwards today and currently at $110409
• Ether prices are currently trending higher today and at $4410.10
• $Trumpcoin is currently trading around $8.37

(All prices quoted at approximately 08H45 Central African Time) 

Other Breaking News in Africa Today

Sudan Mudslide Disaster Brings Death to Entire Village

A landslide has killed at least 1,000 people in the remote Marra Mountains in western Sudan, according to the rebel group The Sudan Liberation Movement/Army. Days of heavy rain triggered the landslide on Sunday, which left just one survivor and “levelled” much of the village of Tarasin, the group said in a statement. The movement has appealed for humanitarian assistance from the United Nations and other regional and international organisations. Many residents from North Darfur state had sought refuge in the Marra Mountains region, after war between the Sudanese army and the paramilitary Rapid Support Forces (RSF) forced them from their homes.