Breaking News Today – Wednesday 6 May 2026

African Start-up News Headlines:

• SeerBit, a growth focussed Pan-African payments company, now operating across eight African countries, has integrated with Xero, a global small business platform to simplify how businesses across Africa get paid from invoices. Seerbit has more than 10 000 business using their platform.
• Nigerian startup Siiqo has launched a comprehensive new business management platform designed to help African SMEs and freelancers organise and manage sales, payments, and customer engagement from a single system. the platform integrates storefront creation, order management, invoicing, and customer relationship tools into one dashboard. It also features an escrow-based payment system designed to improve trust between buyers and sellers, along with support for both fiat and cryptocurrency payments.
• Cross Switch has appointed Jerome Alfred as Chief Operating Officer (COO), strengthening its leadership team as the company continues to expand its payment orchestration platform across emerging markets in Africa. Jerome joins Cross Switch with more than 15 years of leadership experience across fintech and banking, and will be responsible for overseeing day-to-day operations, driving strategic initiatives, and ensuring the platform continues to deliver at scale.

Business News Today 

Gender Equality Report Reveals Top Performers in West African States

An announcement yesterday indicates that Côte d’Ivoire ranks first on gender equality in the Economic Community of West African States (ECOWAS), with a score of 0.708, above the regional average of 0.640. The ECOWAS Gender Equality Index(GEI) report, is the first regional tool that measures gender gaps across the West African community. GEI is a multidimensional instrument that gauges disparities between women and men in member states. It covers education, employment, access to resources, health, technology, and leadership and decision-making. The calculation is based on 38 indicators that assess parity across these sectors.

Senegal occupies second place with a score of 0.684, standing out in access to technology and women’s leadership. Ghana comes in third (0.679), followed by Togo (0.673) and Gambia, which closes the top 5 with a score of 0.671. At the other end, Liberia (0.584; 15th) and Benin (0.584; 14th) hold the last places and post the lowest scores, due to modest performances in employment, leadership, and women’s access to technology.

Oil Hits The Road While Sea Routes Remain Closed

In a new development in the Oil-Choked African landscape, with around 70 fuel tanker trucks carrying Iraqi oil began crossing into Syria on Monday through the recently reopened Rabia–Yarubiyah border gate, marking the revival of a strategic overland route for energy exports as regional tensions continue to disrupt maritime shipping. his marks the first time the crossing has been fully operational in nearly 13 years, having been closed since 2013-2014 following the rise of the Islamic State (ISIS).

Iraqi state oil marketer SOMO has awarded contracts to truck approximately 650,000 metric tonnes of fuel oil per month via Syrian overland routes (April–June 2026). Other estimates suggest this could reach 500,000 metric tonnes per month. The crude oil is being transported to the Baniyas refinery, located on Syria’s Mediterranean coast in the Tartus Governorate, and the largest oil refinery in the country where around 500 000 metric tonnes are expected to be processed a month.

Asian Shares Hit Record High on AI and Peace Deal Sentiment

Asian equity markets climbed to record levels today, supported by easing tensions in the Middle East and a fresh rally in an AI-led technology giving the markets momentum. The US reaffirmed its ceasefire with Iran, confirmed that offensive operations have ended, and have temporarily suspended efforts to assist stranded vessels exiting the Strait of Hormuz to allow time for potential renewed negotiations. Technology shares were the main driver of regional gains, with South Korea’s KOSPI moving above the 7,000 mark for the first time, boosted by strong buying in AI-linked stocks.

The Shanghai Composite rose 0.9% to a two-month high while other benchmark indices in Australia, China, and Hong Kong also moved higher. Japanese markets, however, remained closed today due to public holidays. The CSI 300 index also increased to 4859.00 Index Points, the highest since January 2022. Over the past 4 weeks, Shanghai Shenzhen CSI 300 Index gained 9.16%, and in the last 12 months, it increased 27.55%.

Breaking Business and Market News Shorts:  

• The RatingDog China General Composite PMI rose to 53.1 in April 2026 from March’s three-month low of 51.5, indicating solid growth in overall business activity as both manufacturing output and services expanded at a faster pace. 
• Gold climbed above $4,600 an ounce on Wednesday, advancing for a second straight session as signs of de-escalation in the Middle East pushed oil prices lower, helping to alleviate inflation concerns. Gold has faced selling pressure since the onset of the Iran war, as soaring energy costs lifted inflation fears and reinforced expectations that central banks may keep interest rates elevated for longer.
• MTN Group have announced the appointment of Andrew Savage as Executive: Global Sourcing and Supply Chain (GSSC), effective 1 May 2026. Andrew has headed-up several strategic initiatives across MTN’s markets, including the digitalisation of procurement processes, operating model transformation and the advancement of sustainable value creation across the Group.
• Silver jumped above $75 an ounce on Wednesday, recovering losses from earlier in the week as signs of de-escalation in the Middle East weighed on oil prices, helping to ease inflation concerns. Silver has come under sustained selling pressure since the start of the Iran conflict, as surging energy costs increased inflation concerns 
• A dust-collection unit at the Glencore owned Kazzinc zinc plant facility exploded yesterday, triggering a blaze and causing one building to partially collapse, according to a statement released by the Emergency Situations Ministry. The fire has now been extinguished and rescue teams are searching for any further victims.Glencore owns a 70% stake in Kazzinc, Kazakhstan’s top producer of the metal.

Markets by Numbers 

Currency markets indicate the US dollar weakening against major currencies today. The Greenback is trading against the Euro at 1.17320 while trading against the Pound at 1.35871. The Yen is currently trading at 156.23 to the dollar. The rand (ZAR), is currently trading around the 16.51 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending around 2.1% higher, and currently trading at around $4653.15 per ounce.  
• Copper prices are trending almost 1.6% higher today, with prices currently around $6.0408 per pound
• Silver futures are trending 3.8% higher today, and currently trading at around $75.954 per ounce.
• Platinum futures are up around 1.8% this morning, and currently trading at $2010.90.00, While Palladium prices are trending 1.3% higher, and currently trading around $1534.50 per ounce.
• Brent crude oil prices are trending around 1.2% lower and currently trading around $108.52, WTI is trading lower at $100.92 currently
• Cocoa futures continue to surge, up by almost 5% this morning, with prices currently around $4074 per ton. Prices are up over 20% this week.
• Coffee futures are trending around 1.2% higher today, and currently trading at around $2.8975 per pound

Crypto Currencies: 

• Bitcoin prices are trending higher this morning, and trading at around $81 225 per coin currently 
• Ether prices are trending higher today, and currently trading around $2363.72
• $Trumpcoin are currently trading level at around $2.381

(All prices quoted at approximately 07H35 Central African Time) 

African General News Briefs:

• There is an escalation of tensions between Sudan and Ethiopia, With Sudan accusing Ethiopia and the United Arab Emirates of coordinating a drone attack on Khartoum airport. Sudan has recalled its ambassador to Addis Ababa while Ethiopia’s Foreign Ministry on Tuesday rejected what it called ‌the “baseless accusations”, and denied involvement. Ethiopia has accused Sudan’s armed forces of supporting hostile actors and violating Ethiopia’s territorial integrity.
• South Africa’s foreign ministry is taking urgent steps to improve diplomatic relations with Nigeria, after concerns for the safety of Nigerian citizens in South Africa led to an evacuation of 130 Nigerians in the country. The South African Minister of International Relations and Cooperation Ronald Lamola said yesterday that he has held talks with his counterparts in Nigeria and Ghana, after the authorities in both countries said they had summoned South African envoys over attacks on their citizens.This follows calls from lawmakers in the Nigerian Senate for the country to revoke the licence of South African Telco group’s MTN Nigeria Communications plc in retaliation over the attacks.