Breaking News Today – Tuesday 4 August 2026

African Start-up News Headlines:

• Nigerian payment infrastructure provider Payaza, has signed a Memorandum of Understanding (MoU) with Lebara Nigeria to serve as the telecom operator’s official payment partner. The deal will see Payaza provide the payment infrastructure underpinning Lebara’s payment ecosystem as the telecoms brand expands its footprint in Nigeria. The announcement made on LinkedIn said the company was “excited to announce our partnership with Lebara, bringing together two brands committed to creating seamless, innovative solutions for customers across markets”.
• TurnStay, the South African fintech that helps African travel businesses get paid by international guests, has processed more than R1 billion in transactions so far in 2026, a milestone reached in just six months, and only three years after the company was founded. Having raised a $300,000 pre-seed round in 2024 and a $2 million seed round in 2025, TurnStay says it is now preparing for a Series A raise to fund its continued expansion across the continent.
• Following the successful subscription of its Series 1 corporate bond, Dimension Data Limited Nigeria, has completed the signing ceremony for the issuance of N4.05 billion (approximately US$2.9 million), marking the first tranche of its N20 billion (US$14.7 million) bond programme. The proceeds will support the expansion of the company’s fibre infrastructure to meet Nigeria’s growing demand for digital connectivity. Speaking at the ceremony, Olugbenga Olabiyi, Managing Director of Dimension Data Limited, said the investment reflects the company’s long-term commitment to strengthening Nigeria’s digital economy.

Business News Today 

AfDB Finance Package to Assist Stabilising Senegal’s Economy

The African Development Bank (AfDB)has approved a $35.4 million financing package to help ​Senegal strengthen its public finance management as ‌the West African country grapples with a debt crisis, the bank said in a statement released yesterday. The finance is set to ​assist Senegal increase domestic resource mobilisation, implement ​structural reforms and strengthen public finance management ⁠and transparency, the AfDB said. No Clarity was given as if the financing is provided as a grant or ​a loan.

This development comes as Investors are closely watching Senegal’s efforts to tackle its debt burden after the government in 2024 disclosed previously ​unreported debts that eventually topped $13 billion. “Through this operation, ​the African Development Bank reaffirms its commitment to standing alongside ‌Senegal ⁠to consolidate economic reforms, strengthen domestic resource mobilisation, and create the conditions for more resilient growth,” said Wilfrid Abiola, the head of AfDB’s ​Senegal country office.

New Oil Grade Expansion and Tenders from NNPC

Nigeria’s state-owned oil company NNPC has issued fresh tenders to sell cargoes of its newest crude grade, Cawthorne, and the established Bonny Light blend for September loading. According to tender documents, NNPC is offering a 950,000-barrel cargo of Cawthorne for loading on 21–22 September, and a similar-sized cargo of Bonny Light for 30 September to 1 October. Both are being sold on a free-on-board basis, with bids due by 4 August.

Cawthorne is a relatively new light, sweet crude that Nigeria began exporting in March 2026. With an API gravity of about 36.4, it is comparable in quality to Bonny Light and is valued for its strong petrol and diesel yields. It is produced from assets linked to OML 18 in the eastern Niger Delta and exported via a floating storage vessel offshore Bonny. The tenders form part of NNPC’s broader effort to diversify export streams and support higher production after years of underinvestment, oil theft and operational disruptions. The company has recently introduced other new grades, including Nembe and Utapate, as it works to expand Nigeria’s crude portfolio and improve export reliability.

Cocoa Prices Surge

Prices in Cocoa Futures have surged by over 9.4% and climbed above $5,900 per ton, their highest level since July 10, after Ghana projected a sharp decline in cocoa production for the 2026/27 season. Market regulator COCOBOD is projecting output to fall by at least 16%, citing unfavourable weather, the cocoa tree’s natural alternating yield cycle, disease, ageing plantations and illegal gold mining as factors affecting crop volumes. Supply concerns were reinforced by expectations of a 10% plus decline in Ivory Coast’s production next season. While crop prospects remain generally favourable, farmers said more sunshine and timely fertiliser and pesticide applications are needed, warning that excessive rainfall later in the season could increase disease risks and further tighten global cocoa supplies.

Breaking Business and Market News Shorts:  

• The South African rand strengthened to around ZAR 16.5 per US dollar extending its recovery from the more than three-month low of 16.98 reached on July 24, as a sharp decline in oil prices supported market sentiment. Crude prices fell after optimism grew over renewed US-Iran negotiations.
• The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) saw a decline to 52.5 in July from a reading of 53.4 in June. The reading marked the slowest expansion in three months. Input cost inflation also slowed to its weakest level in five months as purchase prices rose at a softer pace, although firms continued to cite higher fuel and raw material costs.
• US stock indices shifted higher yesterday with support from a rebound in Treasury securities. The S&P 500 rose 1.5%, nearing it’s record high level, while the Dow added 693 points to close at a record 53,178 and the Nasdaq 100 gained 1.8%.
• The ISM Manufacturing PMI for the US rose to 55.6 in July 2026 from 53.3 in June, beating market expectations of 54.0 indicating the strongest expansion in factory activity since May 2022. The improvement was driven by a sharp acceleration in output that was the fastest since November 2021
• Japan’s Nikkei 225 Index fell 0.6% to around 63,300, while the broader Topix Index slipped 0.3% to 3,948 on Tuesday, as Japanese equities declined for a second consecutive session, led by losses in technology stocks. The weakness came despite a strong overnight rally in major US tech shares
• South African manufacturing sentiment deteriorated further in July, with the ABSA PMI falling to 46.8 in July from 47.3 in June. The index was dragged down by lower export demand and concerns about renewed hostilities between the U.S. and Iran.

Markets by Numbers 

Currency markets indicate the US dollar weakening marginally today. The Greenback is trading against the Euro at 1.15109 while trading against the Pound at 1.34296 The Yen is currently trading at 157.69 to the dollar. The rand (ZAR), is currently trading around the 16.51 mark against the US dollar this morning.

Commodities:  

• Gold futures are trading level this morning, and currently trading at around $4057.29 per ounce.  
• Copper prices are around 0.33% higher this morning, with prices currently around $6.5369 per pound
• Silver futures are up by 1.7% today, and currently trading at around $58.678 per ounce.
• Platinum futures are up around 1.49% this morning, and currently trading at $1650.50.30, while Palladium is up around 1.3% today, and currently trading around $1273.00 per ounce.
• Lithium prices have dropped by over -2% today and trading at CNY140 000
• Brent crude oil prices are trending over 0.9% higher today, and currently trading around $84.58 with WTI trading at $80.97 currently
• Cocoa futures have surged by over 10% today, and currently trading at $5939 per ton. 
• Coffee futures have dived by around -3.79% today, and currently trading at around $3.1950 per pound

Crypto Currencies: 

• Bitcoin prices are up by around 0.35% today, currently trading at around $63 683 per coin.
• Ether prices are trending upwards by 0.2% this morning, and currently trading around $1862.70

(All prices as quoted at approximately 04H35 Central African Time) 

African General News Briefs:

• Ghana’s parliament has passed a bill that could send cocoa farmers to prison for up to 20 years if they convert their farms to other uses without government approval, according to a copy of the bill seen by various news outlets. The legislation would give all cocoa farms protected status, making it a criminal offence to repurpose them for anything else without authorisation from authorities, a move that has been criticised by farmers. The move for new legislation has been driven by concerns around declining cocoa prices, while many farms sit on gold deposits that are fetching high prices at current market rates and leading to illegal gold mining on these farms.
• A magnitude 5.5 earthquake struck near the Egyptian city of Suez early Monday, shaking buildings across Cairo and prompting authorities to activate emergency response plans. No casualties or significant damage were immediately reported, but officials placed emergency services on high alert as a precaution. authorities said there were no immediate reports of deaths, injuries or major damage, according to the health ministry and the Egyptian Red Crescent.