Breaking News Today – Tuesday 28 July 2026

African Start-up News Headlines:

• African startup funding slipped by -6% year on year to $1.4 billion in the first six months of 2026, after the number of early-stage companies securing venture capital investment fell, data from Africa The Big Deal shows. The largest Startup funding deal for the year to-date, was the four-year-old electric motorcycle maker and distribution company Spiro raised $270 million in June 2026. That deal helped raise the total for the half year, however, the number of startups raising $100,000 or more fell to its lowest level since 2021 at only 190 startup companies.. Egypt led the Startup funding table in H1 with a total of $327 million raised, followed by Nigeria ($254m), Kenya ($126m) and South Africa ($83m).
• The Bureau of African Affairs’ new US-Africa Strategic Investment Program has opened applications for US federal government backed grants, of up to $50 million each, out of a budget of $500 million overall made available. The Goal is to “de-risk and catalyze” private investment into Africa, and particularly into critical minerals and also what the US State calls “commercial diplomacy.” market-based, private sector-led growth across two strategic focus areas: Critical Minerals Investment and Commercial Diplomacy Acceleration. This program seeks market-based solutions that strengthen the environment for foreign investment in sub-Saharan Africa. Projects must demonstrate clear, measurable benefits to one or more sub-Saharan countries, according to the prospectus. This is not development finance. Instead, Washington is funding the work that often determines whether investments happen at all

Business News Today 

Angolan Kwanza Added to Cross-Border Settlement System

On Monday, 27 July 2026, South African Reserve Bank Governor Lesetja Kganyago and Banco Nacional de Angola Governor Manuel Tiago Dias formally announced that the Angolan kwanza has been added as a settlement currency on the SADC-RTGS system (the Southern African Development Community Real-Time Gross Settlement system, formerly known as SIRESS). This is the first new settlement currency added since the system launched in 2013.

The SADC-RTGS is operated by the South African Reserve Bank on behalf of participating SADC central banks. It currently processes around R250.7 billion in transactions per month across the region and involves multiple countries and dozens of banks. Eligible banks and participants can now settle cross-border payments directly in kwanza instead of having to convert into rand (or another third currency) and then back again. The development reduces the need for multiple foreign-exchange conversions, which lowers transaction costs and settlement friction.

Tech Stocks See Global Price Plunge

US stock futures traded lower this morning, as another wave of selling in semiconductor stocks dampened investor sentiment, while markets awaited earnings from mega-cap technology companies this week (Meta and Alphabet) and the Federal Reserve’s latest policy decision. NVIDIA stock prices shed almost -5% yesterday, resulting in depressing the rest of the chip sector. As a result of the pullback, Apple saw its stock price lifting its valuation to surpass Nvidia as the world’s most valuable public company. Peer chipmaker AMD also declined more than -5% yesterday, and memory makers plunged, with Micron and SK Hynix dropping more than -2% and -7%, respectively. The tech sell-off has continued this morning with tech stocks in South Korea and China also following suit.

African Battery Giga-Factory Development in Morocco

The African Development Bank has approved a EUR 100 M (USD 114 M) loan to support the construction of Africa’s first electric vehicle battery gigafactory in Morocco, marking a significant step in the continent’s long‑standing ambition to move beyond exporting raw minerals and instead capture more value through local processing and manufacturing. The project, led by Chinese battery manufacturer Gotion High‑Tech, will require an initial investment of about USD 1.3 B to build an integrated lithium iron phosphate battery plant in the Rabat‑Salé‑Kénitra Free Trade Zone.

The first phase will produce 10 gigawatt‑hours of battery cells and packs annually for electric vehicles, with plans to expand to 100 GWh, placing it among the world’s major battery manufacturing sites. Unlike many battery projects that only assemble battery packs, the Moroccan facility will also manufacture cathodes and anodes, the two key battery components, creating an integrated battery value chain within Africa. Much of the output is destined for export to European markets.

Breaking Business and Market News Shorts:  

• Brent crude futures, dipped below $87 per barrel this morning, with a third consecutive session of price drops, after President Donald Trump said the US was engaged in “good talks” with Iran aimed at ending the Middle East conflict, lifting optimism that normal oil flows from the region could resume.
• Impala Platinum has suspended mining at its Rustenburg operations in South Africa while it conducts a comprehensive safety overhaul, following recent injuries and fatalities, it announced yesterday.A spokesperson said the group had recorded four fatal injuries in the financial year ended June 30 and an additional two deaths involving underground locomotive accidents in July.
• South Africa’s 10-year government bond yield fell to 8.7%, retreating from last week’s three-month high above 9.0%, as easing tensions between the US and Iran pushed oil prices lower and improved market sentiment. 
• The Hang Seng Index edged up 0.6%, to 25,370 this morning, extending its recent gains as strong capital inflows and robust IPO activity offset another wave of global selling in semiconductor stocks. Tech and AI-related shares continued to attract buying interest
• China’s Shanghai Composite dropped 0.6% to 3,836 today, while the Shenzhen Component tumbled 2.2% to 13,841, with both benchmarks reversing gains from the previous session as renewed selling pressure swept through semiconductor stocks.
• US stock futures traded lower on Tuesday as another wave of selling in semiconductor stocks dampened investor sentiment, while markets awaited earnings from mega-cap technology companies and the Federal Reserve’s latest policy decision.

Markets by Numbers 

Currency markets indicate the US dollar weaker today. The Greenback is trading against the Euro at 1.13762 while trading against the Pound at 1.32970 The Yen is currently trading at 163.71 to the dollar. The rand (ZAR), has weakened and is currently trading around the 16.78 mark against the US dollar this morning.

Commodities:  

• Gold futures are around -0.6% lower this morning, and currently trading at around $4045.73 per ounce.  
• Copper prices are around 0.63% lower this morning, with prices currently around $6.3046 per pound
• Silver futures are down by -1.7% today, and currently trading at around $57.281 per ounce.
• Platinum futures are around -1% lower this morning, currently trading at $1609.60, while Palladium is around 1.1% lower today, and currently trading around $1273.50 per ounce.
• Lithium prices are down by around -0.68% today and trading at CNY145 500
• Brent crude oil prices are trending over -1.3% lower today, and currently trading around $86.77 with WTI trading at $80.92 currently
• Cocoa futures are around -3.3% down today, and currently trading at $5051 per ton. 
• Coffee futures are up by over 2.8% today, and currently trading at around $3.2316 per pound

Crypto Currencies: 

• Bitcoin prices are -0.8% today, currently trading at around $63 197 per coin.
• Ether prices are trending -0.81% lower this morning, and currently trading around $1874.93

(All prices as quoted at approximately 05H15 Central African Time) 

African General News Briefs:

• A report from The Sun, indicates that a South African delegation to Nigeria, led by the Minister of International Relations and Cooperation, Ronald Lamola, had been denied access to meet with Nigeria’s President Bola Ahmed Tinubu. The delegation had reportedly arrived in Abuja on Friday, 24 July 2026, and had been left waiting at the Transcorp Hilton, Abuja. The delegation was finally set to meet with President Tinubu late yesterday, after a call from South African President Ramaphosa. Advisors had cautioned meeting with the South African delegation due to ongoing Violence against African foreigners in South Africa, and particularly Nigerians.
• Malawi has completed the installation of southern Africa’s only utility-scale battery storage system outside South Africa and Namibia. The system is a 20-megawatt facility designed to help stabilise power supplies in one of the world’s least electrified countries. Officials from the Electricity Supply Corporation of Malawi (ESCOM) switched on the battery over the weekend