Breaking News Today – Wednesday 8 April 2026

African Start-up News Headlines:

• GITEX Africa 2026 is Underway in Marrakech Morrocco. Africa’s largest tech and startup exhibition officially opened yesterday, and continues through till 9 April with over 1,500 exhibitors and more than 25,000 delegates expected to attend. This edition is being described as more implementation-focused than previous years — moving beyond talk to concrete deals, partnerships, and deployment strategies. Organisers expect over $5 billion in potential deals and investment announcements by the end of the three days.
• The Ci-Gaba Fund in Ghana hit a first close of $35M, and is aiming for a total raise of $91M to invest in West African SMEs. Ci Gaba Venture Capital Limited is a transformative finance vehicle, focused on making African finance work for Africa, helping mobilise domestic investment, including pension funds, empowering local fund managers, and growing investment into SMEs and early-stage businesses. t will channel capital into high‑growth sectors like agriculture, manufacturing, technology, healthcare and education.

Business News Today 

Oil Prices Cascade After Middle East Cease Fire Agreement

Brent crude futures plunged by around 14% toward $94 per barrel this morning, after US President Donald Trump delayed his threat to attack Iranian civilian infrastructure by two weeks in what he described as a “double-sided ceasefire,” contingent on Iran reopening the Strait of Hormuz. Trump also said the US had received a 10-point proposal from Iran that he described as a “workable basis for negotiations,” with the two-week window allowing the potential agreement to be finalized and implemented.

Additionally, Iran has agreed to reopen the Strait of Hormuz for two weeks provided all attacks are halted, adding that transit would need to be coordinated with Iran’s Armed Forces, while Israel has also reportedly assented to the temporary ceasefire. The virtual closure of the vital supply-chain waterway, through which about 20% of global oil flows, has rocked energy supply markets and increased the risk of rising global inflation and potentially ingniting a global economic slowdown.

Intel and SpaceX Partner to Build Mega Chip Factory

Global Chip producer Intel has signed a partnership agreement with SpaceX and Tesla in a move aimed at building a new U.S. semiconductor mega factory in Texas. Intel stated in a post on X – “Our ability to design, fabricate, and package ultra-high-performance chips at scale will help accelerate Terafab’s aim to produce 1 TW/year of compute to power future advances in AI and robotics,”

Elon Musk announced a working partnership with Intel in March, indicating greater collaboration between the two tech companies, as he looks to develop chips for AI compute, satellites, and SpaceX’s mooted space data-centre and to support the possibility of autonomous Tesla vehicles and robots. The new chip factory indicates one of the most ambitious computer chip developments in recent years and a turn around for Intel that was loosing market share. Musks deal has turned this around with Intel’s share price jumping more than 4% yesterday.

Gold Mine Rights to Local Ghanaian Group

Ghana has announced it has selected a local mining services company Engineers & Planners Ltd to take over Gold Fields’ Damang gold ​mine, the mines minister said yesterday. Ghana, is ​seeking to boost local ownership in its mining ⁠sector, rejected South African major mining house Gold Fields’ lease‑renewal bid and took ​control last year, upending a pattern of ​automatic mining rights extensions.

The company demonstrated it had access to $505 million in financing, meeting the ‌government’s ⁠requirement that bidders show funding capacity of at least $500 million. It also scored well on technical experience, equipment, safety and local content, a government statement said. Gold Fields, that had ​operated Damang for over ⁠two decades, initially said it would consider selling the mine, citing its limited remaining life and ​lack of economic reserves.It said last month ​it was ⁠working to ensure the smooth transition of the mine to a new operator.

Breaking Business and Market News Shorts:  

• Gold futures jumped more than 2% to above $4,800 per ounce this morning, extending recent gains after US President Donald Trump, delayed his planned strikes on Iranian civilian infrastructure by two weeks to finalise talks on a potential resolution to the war. Trump also said the US had received a 10-point proposal from Iran that he described as a “workable basis for negotiations,”
• China’s Shanghai Composite climbed 1.5% to 3,947 today, while the Shenzhen Component surged 3% to 13,807, both extending their gains from the previous session and tracking broader positive sentiment across Asian peers, as market optimism was driven by the ceasefire agreement reached in the Middle East
• South Sudan, who implemented a ban on cash payments for all government dues around a month back, mandating electronic transfers to improve transparency and combat corruption is seeing results. The process, while having created challenges for rural areas, is showing early signs of reduced corruption, despite complaints about access to digital payment options.The policy forms part of broader financial system reforms in the country.
• Platinum futures climbed above $2,000 an ounce, hitting a three-week high as precious metals broadly advanced after US President Trump announced a two-week ceasefire with Iran. The move lifted sentiment across the metals complex, with expectations that reduced energy disruption risks could ease inflation pressures and support demand for non-yielding assets like platinum. Meanwhile, softer industrial demand and improved supply conditions continued to weigh on prices
• Copper futures jumped close to 3% toward $5.7 per pound this morning, hitting a three-week high mark, after Iran agreed to temporarily reopen the Strait of Hormuz as part of a two-week ceasefire with the US and Israel, easing demand concerns. 

Markets by Numbers 

Currency markets indicate the US dollar trading lower against major currencies today. The Greenback is trading against the Euro at 1.16846 while trading against the Pound at 1.34253. The Yen is currently trading at 158.34 to the dollar. The rand (ZAR), is currently trading around the 16.42 mark against the US dollar this morning.

Commodities:  

• Gold futures are 2.4% higher this morning, and currently at around $4821.26 per ounce.  
• Copper prices are trending 3% higher today, with prices currently around $5.7103 per pound
• Silver futures are surging by more than 5.4% today, and currently trading at around $76.870 per ounce.
• Platinum futures are around 4.8% higher this morning, and currently trading at $2042.70, While Palladium prices are up by over 5% this morning, and currently trading around $1541.50 per ounce.
• Brent crude oil prices are plunging today, with prices sliding by over -14% and currently trading at $94.01. WTI is trading -15% lower at $95.56 currently
• Cocoa futures are down by around -0.8% this morning, with prices currently trading around $3001.20 per ton. 
• Coffee futures are flat today, and currently trading at around $2.8628 per pound

Crypto Currencies: 

• Bitcoin prices are marginally lower this morning, and trading at around $71 707 per coin currently 
• Ether prices are up slightly by 0.06% today, and currently trading around $2241.08
• $Trumpcoin are currently trading upwards at around $3.00

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

African General News Briefs:

• Egypt and Italian energy giant ENI announced on Tuesday a “significant” natural gas discovery off Egypt’s Mediterranean coast, as the North African country struggles to secure its energy needs due to the ongoing Iran conflict in the area.ENI made the discovery while drilling of the Denise W exploration well, located around 70 kilometres offshore, in the Eastern Mediterranean Temsah oil and gas field. 
• Zimbabwe has launched its upgraded banknotes yesterday with an appeal to national pride and confidence. The BiG5 banknote series features the country’s iconic wild animals symbolising national identity. The rollout begins with 10, 20 and 50 Zimbabwe Gold notes. Higher denominations will follow later, depending on demand and monetary conditions.  Zimbabwean citizens have long lost trust in their own currency, viewing US dollars and South African rand as more stable. The new notes are part of a wider effort to restore public trust in local money.
• Zimbabwe is facing a constitutional crises with opposition circles in Zimbabwe indicating that the ruling Zanu-PF party is making a new grab for power as it presses ahead with constitutional amendments aimed at giving parliament the constitutional power to elect the president and to extend his term from five to seven years. This is seen as a cynical move by the ruling party to deny voters that right that has been established in their constitution since independence.