Breaking News Today – Tuesday 26 May 2026

African Start-up News Headlines:

• Mehtic Technology Wins RegTech Africa Startup World Cup Abuja Regional Challenge. Nigerian fintech startup Mehtic Technology, developer of BankPlus Core Banking Infrastructure, has won the 2026 RegTech Africa Startup World Cup Abuja Regional Challenge. The win, announced yesterday, positions the company for the global stage. BankPlus offers a secure, scalable digital banking platform for financial institutions, promoting financial inclusion and regulatory compliance. Founder and CEO Ahmed Momoh-Sani emphasized its role in helping banks achieve efficient operations.
• Mia Healthcare Technologies Raises R15 Million (~$910K) for Dental Expansion in Southern Africa. South African healthtech startup Mia Healthcare Technologies, founded in 2021 by Dr. Zane Stennings and Dr. Karishma Soni, secured R15 million from Edge Growth’s Vumela Fund. The funding will scale affordable dental and orthodontic services across Southern Africa, addressing access gaps in oral healthcare. Mia focuses on tech-enabled clinics and solutions to make quality dental care more accessible and affordable.

Business News Today 

Fuel Levy Cuts In South Africa to End

The South African government has indicated there will be no further fuel levy relief on the rapidly scaling fuel prices, as national Treasury looks to rebalance the country’s finances. The cuts were introduced to cushion consumers from soaring fuel prices linked to the Middle East War. However the Treasury has now announced that the relief measures will be phased out in the coming months. South Africa’s National Treasury, under Finance Minister Enoch Godongwana, introduced a temporary R3 per litre reduction in the general fuel levy in April 2026 to cushion households and businesses from sharp fuel price spikes triggered by the Iran war and rising global oil prices. The relief was extended through May and will now be phased down in June (R1.50/litre for petrol and R1.96/litre for diesel) at a total estimated cost of around R17.2 billion in foregone revenue. Full levies (R4.10/litre for petrol and R3.93/litre for diesel) will automatically return from 1 July 2026. The phased reduction in June serves as a gradual transition to minimise shock. No additional parliamentary approval is required as this is a temporary executive adjustment.

South African Bonds and Exchange Rate Improves

The South African 10-year bond yield fell toward 8.55% yesterday, its lowest point since April 22, reflecting improved global risk sentiment on hopes of a US–Iran agreement. South Africa received its first positive outlook revision from Moody’s Ratings since 2007, with the agency citing the country’s improving fiscal position and commitment to reforms. Meanwhile, traders braced for the SARB’s meeting scheduled for May 28, which could bring the first hike since May 2023. Headline inflation surged to 4% in April from 3.1% in March. The South African rand also responded to improved sentiment and strengthened to around 16.3 per USD, its highest level since mid-April. A 25 bps rate hike is widely anticipated, although a split vote is possible. While some economists see scope for tightening to contain potential second-round inflation pressures

Positive iIndicators For Sustainable Growth in Nigeria

Nigeria’s economy ​grew 3.89% year-on-year in the first quarter ‌of 2026 down marginally from the final quarter of last year’s 4.07% growth rate, according to official data released yesterday. Growth ​slowed in both the oil and non-oil ​sectors when compared with the fourth quarter ⁠of 2025, the National Bureau of Statistics said ​in a report. Average daily crude oil production reached 1.55 million barrels per day in Q4, lower than 1.62 million bpd in the same period last year. The upside came from an unexpected source – Agriculture which rebounded by an unexpected 3.15% in Q1 of 2026, lifting from low numbers last year. The Services sector maintains a high growth rate of 4.3% while manufacturing lifted by 3.50%.

All together, the growth statistics indicate that despite global disruptions, the overall economy in Nigeria appears to be lifting and on path towards a strong recovery. While the country still struggles with inflation levels above 15% and interest rates at 26.5%, there is sufficient evidence that relatively low unemployment (4.9%), and with the growth of local fuel production and major energy investments in the pipeline, Nigeria could see a significant improvement in its GDP over the medium term.

Breaking Business and Market News Shorts:  

• Brent Crude fell to below $96 per barrel yesterday, but has lifted slightly to just above $98 per barrel this morning, regaining ground as fresh US military operations in southern Iran and ongoing peace negotiations kept investors on edge. The US military reportedly targeted missile launch sites and vessels suspected of attempting to deploy mines in southern Iran
• Hong Kong’s Hang Seng Index lifted 60 points, or 0.2%, to around 25,660 today, as optimism surrounding a potential US-Iran agreement earlier supported Asian equities and weighed on oil prices. Washington and Tehran were reportedly edging closer to a possible deal aimed at reducing tensions and restoring access through the Strait of Hormuz
• Ghana’s government has said it is is committed to renewing the mining lease for Gold Fields, however this will subject the ‌South African miner to fresh scrutiny of its plans before any renewal is granted. CEO of Ghana’s Minerals Commission, Andrews Tandoh, denied ​the government was delaying the lease renewal process, saying officials ​had held meetings with Gold Fields as recently as ⁠last Friday.
• Metals markets slide on growing uncertainty: Copper, platinum, silver and gold futures all eased this morning with renewed caution in the market regarding the prospects of a peace deal in the US / Iran conflict. Silver fell below $77 while gold slipped below $4,550. Platinum futures traded around $1,950 an ounce, with copper futures dropping below $6.4 per pound.

Markets by Numbers 

Currency markets indicate the US dollar gaining against major currencies today. The Greenback is trading against the Euro at 1.16298 while trading against the Pound at 1.34776. The Yen is currently trading at 159.00 to the dollar. The rand (ZAR), is currently trading around the 16.35 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending over -0.86% lower this morning, and currently trading at around $4529.85 per ounce.  
• Copper prices down by -0.8% today, with prices currently around $6.3674 per pound
• Silver futures have slid around -2% higher today, and currently trading at around $76.478 per ounce.
• Platinum futures are around -0.7% lower this morning, and currently trading at $1956.50, While Palladium prices are trending -0.79% lower, and currently trading around $1383.00 per ounce.
• Brent crude oil prices are trending 1.1% higher today, and currently trading around $98.35, with WTI trading at $92.09 currently
• Cocoa futures are around 0.6% higher this morning, and currently trading around $3818.16 per ton. 
• Coffee futures are trending around -0.3% lower today, and currently trading at around $2.7146 per pound

Crypto Currencies: 

• Bitcoin prices are down by around -0.6% today and trading at around $76 799 per coin currently 
• Ether prices are trending -0.63% lower today, and currently trading around $298.33
• $Trumpcoin are currently trading at around $2.064

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

African General News Briefs:

• Several Ugandan Revenue Officials were killed in a crash with an Elephant on Sunday. At least three people have died after their vehicle collided with an elephant in a national park in Uganda, according to a statement from park officials. Police said four other people were injured in the incident in Murchison Falls National Park in the northwest of the country on Sunday evening.
• Senegal’s President has appointed a former banking executive as Senegal’s new prime minister, according to a statement read on national television. President Bassirou Diomaye Faye named Ahmadou Al Aminou Lo as the head of government, replacing Ousmane Sonko who he had fired on Friday. Lo will now need to form a new government.