Breaking News Today – Tuesday 5 May 2026

African Start-up News Headlines:

• BFREE, a pan-African distressed credit investor, has closed an equity based growth round that will be used to accelerate its acquisition of non-performing retail and SME loan portfolios. The new capital, which follows their $3 million debt based raise last year, will also facilitate expansion into new markets. The funding round was led by AfricInvest through its Financial Inclusion Vehicle (FIVE), with participation from Algebra Ventures, its first Nigeria-focused deal, alongside existing investors including Capria Ventures, VestedWorld, and 4Di Capital.
• Secha Capital, the Johannesburg-based growth equity firm, has reached a second close on its $40 million Fund II, with E Squared Investments. The fund previously had a first close of R300 million (~$18 million) in 2023. It is already almost 40% deployed across eight portfolio companies in agriculture, manufacturing, energy, and consumer goods sectors.The fund has already created over 1,000 jobs through its investments. Secha is targeting a final close of R650 million (approximately $40 million) by July 2026.
• Cybervergent, Africa’s first AI-native posture management platform based in Lagos Nigeria, has launched an improved third version and has also expanded into Kenya, Ghana and South Africa. The group provides a platform that helps organisations operationalise Digital Trust. The startup, which raised a US$3 million seed funding round in March to scale its automated compliance and digital trust platform across Africa, has built an AI engine that independently verifies 99.9 per cent of audit and monitoring findings before they ever reach a dashboard.
• Paymenow, the South African based fintech company co-founded by Springbok legend Bryan Habana, is merging with PayCurve as the young company enters a key growth stage. Habana is the nation’s leading try scorer and was part of the 2007 World Cup-winning team, and an accomplished businessman. Paymenow is the largest earned wages access and employee financial wellness platform on the continent.

Business News Today 

Business Liquidation Growth in South Africa a Concern

Liquidations in South Africa saw a consecutive month lift in March 2026, growing by 8% month-on-month, following a 40% surge in February. According to the latest liquidation statistics from Stats SA, the country recorded 146 liquidations in March, up from 135 in February 2026..

The 96 total recorded in January, gives the country a three-month total of 377 liquidations for the first quarter. Year-on-year, liquidations were up 15% from March 2025, while the year-to-date figures (Jan-March 2026) have also climbed 1.1% y/y, bucking recent downward trends. For March 2026, voluntary liquidations were much higher year-on-year (130 in March 2026 vs 105 in March 2025), with only 16 being compulsory (compared to 22 a year ago).

Fuel Prices to Hit Record High in South Africa Tomorrow

Fuel Prices in South Africa are set to reach record highs this week with both grades of diesel set to increase by R6.19 per litre when the latest adjustments take effect on Wednesday. This means diesel 500ppm will retail for at least R32.09 per litre, while diesel 50ppm will cost R32.30 per litre, beating the already-historic prices seen in April. Both grades of petrol will see an increase of R3.27 per litre. Commenting on the impact on inflation, South African Reserve Bank Governor Lesetja Kganyago, said yesterday “We are experiencing the biggest jump in fuel price inflation in the history of inflation targeting,” Kganyago said. A bigger problem is food prices, he added. Since the war began on 28 February, Brent crude has jumped almost 60%, lifting local diesel prices to a new record high.

Egypt’s PMI hits Three-Year Low

The S&P Global Egypt PMI dropped to 46.6 in April 2026, down from 48.0 in March, marking a sharper deterioration in the non-oil private sector conditions and the steepest rate of contraction since January 2023. Both output and new orders declined significantly amid persistent cost pressures and softer demand. Input costs rose at the fastest pace since January 2023, driven by higher fuel and material prices linked to Middle East tensions. In response, firms cut purchasing and reduced headcount to contain costs. Order books contracted sharply, pulling down output, while weak demand was broad-based, especially in manufacturing and wholesale & retail. On the cost front, selling prices rose at the strongest pace since August 2024 as firms passed on higher costs despite weak demand. Meanwhile, purchasing activity fell and input orders were reduced, reflecting softer sales and tighter operating conditions. Looking ahead, business confidence remained subdued regarding year-ahead output.

Breaking Business and Market News Shorts:  

• Cerebras Systems is planning a May IPO, they are a leading AI chip and supercomputer company founded in 2016, and a Nvidia competitor. The company has filed its S-1 registration with the SEC on 17 April 2026 in anticipation of IPO is expected to happen in mid-to-late May 2026, subject to market conditions. is one of the most highly anticipated AI infrastructure IPOs of 2026,
• Video game retailer GameStop has made a surprise $55.5bn offer to buy e-commerce giant eBay. The cash and stock offer sees an eBay valuation of $125 a share – $20 higher than the company’s value at close of trading in New York on Friday. GameStop’s chief executive, Ryan Cohen, said eBay could be much more successful under his leadership and even rival Amazon.
• MultiChoice, which owns and operates pay-TV provider DStv, and Altech UEC are facing prosecution from South Africa’s Competition Commission for alleged violations of the Competition Act. The Competition Commission announced on Monday, 4 May, that it has referred the two companies to the Tribunal for prosecution.
• The South African Commercial Catering and Allied Workers Union (Saccawu) has rejected Pick n Pay’s proposed changes to its store labour model, warning that the retailer’s section 189A process might lead to job losses
• Brent crude futures held above $113 per barrel on Tuesday, following a surge of nearly 6% in the prior session, as Middle East tensions intensified sharply. The US and Iran exchanged fire in the Strait of Hormuz, raising uncertainty over the durability of the four-week ceasefire.

Markets by Numbers 

Currency markets indicate the US dollar strengthening against major currencies today. The Greenback is trading against the Euro at 1.16821 while trading against the Pound at 1.35197. The Yen is currently trading at 157.27 to the dollar. The rand (ZAR), is currently loosing traction and trading around the 16.80 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending 0.5% upwards after earlier losses, and currently trading at around $4551.39 per ounce.  
• Copper prices are trending almost 1% higher today, with prices currently around $5.8492 per pound
• Silver futures are trending 0.65% higher today, and currently trading at around $73.198 per ounce.
• Platinum futures are up around 1.2% this morning, and currently trading at $1985.30.00, While Palladium prices are trending 1.6% higher, and currently trading around $1509.00 per ounce.
• Brent crude oil prices peaked earlier today above the $114 mark but are trending slightly lower and currently trading around $113.55, WTI is trading lower at $104.52 currently
• Cocoa futures have surged by almost 8% this morning, with prices currently around $3883 per ton. 
• Coffee futures are trending lower today, and currently trading at around $2.8550 per pound

Crypto Currencies: 

• Bitcoin prices are trending over 1.3% higher this morning, and trading at around $80 929 per coin currently 
• Ether prices are around 1.2% higher today, and currently trading around $2377.35
• $Trumpcoin are currently trading level at around $2.324

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

African General News Briefs:

• Reports indicate that at least 130 Nigerians have registered for evacuation from South Africa following local protest against foreign nationals and fear of violence towards Nigerians growing. Nigerian officials noted that several areas in the country, including the KwaZulu-Natal province were not considered.“This figure is expected to rise,” Nigerian Foreign Minister Bianca Odumegwu-Ojukwu said in a statement on social media, adding that “Nigerian lives and businesses in SA must not continue to be put at risk.”
• Mali’s military leader Gen Assimi Goïta has appointed himself as defence minister after the officer who previously held the post was killed in a wave of surprise attacks.The West African country remains in a security crisis more than a week after an alliance of jihadists and separatist rebels launched their nationwide raids.