Breaking News Today – Wednesday 10 September 2025

Walmart Plans First African Stores by Year-End Amid Retail Expansion

Walmart have announced plans to open its first stores in Africa by December 2025, targeting South Africa and Nigeria via its controlling stake in the Massmart retail group and local chains. The move comes at a time when local Retail major Pick n Pay has been closing stores and refreshing its brand and remaining stores. Walmart aims to tap a $500 billion retail market, focusing on affordable groceries and e-commerce. CEO Doug McMillon cited Africa’s 1.4 billion population and urbanization trends. Shares rose 1.5%, but logistics and regulatory hurdles will be a hurdle the American retail giant will need to overcome. This expansion counters Amazon’s recent entry into the African market, boosting competition in fast-growing consumer sectors.

South Africa’s Q2 GDP Surges to Strongest Growth in Two Years

South Africa’s economy expanded 0.8% in Q2 2025, improving on a minimal 0.1% growth in Q1 and beating forecasts of 0.5% and its strongest quarterly growth in two years. GDP growth was driven by positive growth in agriculture, up 11.2%, and with mining showing a 3.2% growth and manufacturing with a 1.8% growth in Q2. Stats SA data released yesterday shows annual growth at 1.5%, exceeding forecasts amid stable power supply. Unemployment eased to 31.9%, but fiscal deficits linger at 4.5% of GDP, while a debt to GDP ratio of 76.9% a heavy burden for the economy. The rand strengthened 1%, boosting confidence, though experts warn of turbulence from global yields and US tariffs. Finance Minister Godongwana called the growth a “recovery milestone.”

Anglo American and Teck Resources Announce $60 Billion Merger

British mining giant Anglo American and Canada’s Teck Resources have agreed to a $60 billion merger on September 9, 2025. The deal forming a leading global copper producer amid increasing copper prices and surging demand for green energy metals. The deal combines Anglo’s global assets with Teck’s copper and zinc operations, creating a powerhouse valued at over $100 billion in assets. Shareholders will receive shares in the new entity, with Teck’s CEO Jonathan Price leading the new entity. The merger aims to capitalise on EV and renewable trends, but faces regulatory scrutiny over market concentration. Market sentiment was positive with shares rising 5-7% post the merger announcement.

Breaking News Shorts: 

• China’s consumer prices dipped below zero for the first time in three months, with CPI falling 0.1% year-on-year, driven by weak demand and factory overcapacity. Producer prices dropped 1.8%, the steepest in over a year, exacerbating deflationary pressures in the world’s second-largest economy
• Lachlan Murdoch solidified control over the Murdoch media empire today, as siblings James, Elisabeth, and Prudence agreed to sell their stakes in Fox and News Corp for $1.1 billion each. Rupert Murdoch’s influence continues to decline, ensuring conservative-leaning outlets like Fox News remain under Lachlan’s leadership. The resolution stabilises the $100 billion conglomerate amid digital shifts.
• Apple launched the iPhone 16, 16 Plus, 16 Pro, and 16 Pro Max, alongside the Apple Watch Series 11 and Ultra 3, yesterday at its “Glowtime” event in Cupertino. The iPhone 16 series features the A18 chip (30% faster), enhanced AI via Apple Intelligence, and a new Camera Control button for spatial video. Prices start at $799, with pre-orders from September 13
• Anthropic, the AI startup behind Claude, agreed to pay $1.5 billion in a settlement yesterday, related to a class-action lawsuit by authors alleging copyright infringement in training its AI models. The deal, potentially the largest copyright recovery in history, awaits court approval.
• Gold has hit $3,643 per ounce this morning, approaching the record high reached in the previous trading session, where it spiked to hit a new all time high of $3663 per ounce, supported by dovish expectations for US monetary policy and broader uncertainty in global markets, boosting its safe-haven appeal for investors
• The annual urban inflation rate in Egypt slowed for the third consecutive month to 12.0% in August 2025, down from 13.9% in July, after reaching a four-month high in May due to rising fuel prices. This marked the lowest inflation rate since March 2022.

Markets by Numbers 

Currency markets today indicate the Euro is trading lower against the US dollar at 1.17150 and the Pound trading at 1.35394. to the US dollar. The Yen is currently trading at 147.41 to the dollar. The rand (ZAR) is currently at R17.50 to the US dollar.

Commodities:  

• Gold futures prices are trending upward hitting a new all-time-high this morning, and are currently trading around $3642 per ounce.  
• Copper prices are trading upwards today, with prices currently at $4.5211
• Silver futures prices are 0,3% higher today, and is currently trading at $41.057
• Platinum futures are trading higher this morning, and are currently trading at $1381 While Palladium prices are trading upwards this morning and currently at $1159.50
• Brent crude oil prices are currently trading around 1.2% higher, and currently at $67.13, with WTI trading at $63.38 
• Cocoa futures have dropped further by -0.7% this morning, and are currently at $7081.42 per ton. 
• Coffee futures have fallen by -1.2% today, and are currently at $393.00

Crypto Currencies: 

• Bitcoin prices are currently marginally down today, and trading at $111547 
• Ether prices have dropped by over -3% today and are currently at $4311.60
• $Trumpcoin is currently around $8.76

(All prices quoted at approximately 07H25 Central African Time) 

Other Headline News in Africa Today

Africa Demands $497 Billion Annual Share of Global Climate Finance

African leaders, at the Africa Climate Summit on September 10, 2025, demanded $497 billion yearly from the $1.3 trillion New Collective Quantified Goal for climate finance, citing vulnerability to extreme weather. UN reports highlight Africa’s 4% emissions but 50% adaptation needs. Kenya’s President Ruto urged fair allocation, warning inaction costs $50 billion in losses. Pledges include green bonds and carbon markets, but critics decry slow rich-nation delivery. The call aligns with COP30 goals, emphasising sovereignty in energy transitions.