Breaking News Today - Friday 16 October 2026

African Start-up News Headlines:

Electric logistics company Bisedge has secured €10 million ($11.2 million) in debt financing from Finnfund, Finland’s development finance institution, to expand its electric industrial equipment operations across Africa. The funding will support Bisedge’s expansion of electric forklift fleets in Nigeria, Kenya, and Tanzania, helping businesses transition from diesel-powered equipment to cleaner alternatives. Bisedge's "Zero CapEx" model enables customers to modernise their fleet of forklifts, reach trucks and tractors with the latest technology from Linde Material Handling. The result they say is a significant reduction in total cost of ownership.

Headline News Today

Inflation Eases Further in Ethiopia

Ethiopia’s annual inflation eased for a second month to 14.9 percent in September from 15.1 percent in August. The Ethiopian Statistical Service released the figures on Thursday 15 October. Food and non-alcoholic beverage inflation edged down to 14.8 percent, while non-food inflation stood at 15.1 percent. Sugar, honey and chocolate prices rose nearly 40 percent year on year. The rate remains above the 13.2 percent recorded in September 2025 and well above the government’s single-digit target. Business Day and local outlets carried the data the same day. The National Bank of Ethiopia raised its policy rate to 16 percent in July and has kept a tight stance while shifting toward interest-rate tools.

IMF Projection on African GDP Revised

The International Monetary Fund’s October 2026 projections place South Sudan among the region’s fastest-growing economies at 10.5 percent this year, driven by the recovery of oil exports after pipeline disruptions linked to the conflict in Sudan. Ethiopia is projected at 9.2% and Rwanda at 7.4%, while South African growth remains constrained at a mere 1.0% growth, with Nigeria at 4.2%. Regional growth average is forecast at 4.5% in both 2026 and 2027. IMF Africa released the figures on 15 October during the Bangkok meetings. Independent analyses note that South Sudan’s rebound remains fragile because of dependence on oil and risks from renewed conflict

New Bond in Gabon Raises Debt to Maximum Ceiling

Gabon has raised $580 million through an eight-year Eurobond that was opened to the market on Wednesday 14 October. Finance Minister Thierry Minko, who led the sale, said the order book approached 1 billion dollars after meetings with more than 100 investors. The bond carries a 9.375% interest and will mature in 2034. The risk premium was about 50 basis points lower than Gabon’s July issue despite the longer maturity and higher United States rates. It is the country’s first public-offer Eurobond since 2021. Proceeds will help service debt, including external arrears, and cover general budgetary requirements. The transaction brings Gabon’s total international market borrowing this year to 1.5 billion dollars and exhausts its authorisation under the revised 2026 budget.

Potential FAFT Exit For Kenya

Kenya is targeting an exit from the Financial Action Task Force grey list by April 2027 after addressing 19 of 21 action items required by the International task force on money laundering. Financial Reporting Centre Director-General Naphtaly Kipchirchir Rono told a National Assembly committee earlier this week that six items were completed in the preceding two and a half months. Parliament is also in the process of reviewing regulations on freezing terrorist assets. A full exit will still require completion of the remaining items and demonstrated effective policy implementation.

Breaking Business and Market News Shorts:

Gold futures held above $4,150 per ounce on Friday after rebounding in the previous trading session, as the recent selloff in equities drove safe-haven demand for government bonds and precious metals. The shift toward safer investments pushed bond yields sharply lower, easing pressure on non-yielding assets such as gold.

South African Reserve Bank Governor Lesetja Kganyago said on Thursday 15 October in Bangkok, that rising global energy and food prices continue to pose upside risks to inflation. He expects consumer price inflation to average 4.4% this year, ease within the tolerance band in 2027 and return to the 3% target only in 2028.
Kenya has hiked petrol prices by 6% and diesel by 4,5%. The cost of kerosene, used for cooking, lighting, and some electricity generation, has also been increased. The energy regulator said the government extended a reduction in value-added tax on fuel to 8 per cent from 16 per cent until 14 January 2027. Kenya’s transport operator sector has warned of ripple effects on consumers following the increased fuel prices.

Niger has given Chinese oil companies 45 days to address alleged breaches of their petroleum agreements, including the repatriation of more than $5.2 billion in crude oil export revenues, as the military-led government increases pressure on its biggest oil-sector partner. Niger’s export earning repatriation rate is only 6%, far below the West African regional average of over 70%.

Zimbabwe's Cabinet has approved a $650 million floating solar power project development on Lake Kariba with a planned capacity of 600 megawatts. The project aims to supplement hydropower, stabilize electricity supply, and conserve water during daylight hours. Agriculture and Water Resources Minister Dr. Anxious Masuka announced during a post-Cabinet briefing

Markets by Numbers

Currencies:

Currency markets indicate the US dollar softer today. The Greenback is trading against the Euro at 1.12245 while trading against the Pound at 1.32985. The Yen is currently trading at 157.87 to the US dollar. The rand (ZAR), is currently trading at the 16.45 against the US dollar this morning.

Commodities:

Gold futures are up marginally this morning, and currently trading at around $4175.21 per ounce.
Copper prices are up around 1.1% today, with prices currently around $6.5889 per pound
Silver futures are up around 0.58% today, and currently trading at around $57.741 per ounce.
Platinum futures are up around 1.4% this morning, and currently trading at $1644.90, While Palladium is up by around 0.8% today, and currently trading around $1137.50 per ounce.
Lithium has dropped further by -2,16% today, and currently at CNY/T 102 150 and is down over -16% this week
Brent crude oil prices are down over -0.5%, and are currently trading around $105.38, with WTI trading at $97.39 currently
Cocoa futures are up around 1.6% today, and currently trading at $5831 per ton.
Coffee futures are down around 1% today, and currently trading at around $2.9480 per pound

Crypto Currencies:

Bitcoin prices are down around 0.05% today, and trading at around $82 108 per coin currently
Ether prices are up around 0.15% this morning, and currently trading around $2444.24

(All prices quoted at approximately 07H30 Central African Time)

African General News Briefs:

South African Communications Minister Solly Malatsi confirmed one of the two officials suspended after fabricated academic references forced the withdrawal of South Africa’s draft national AI policy has resigned, while disciplinary proceedings against the other continue. Malatsi said the government expects Cabinet to finalise a replacement policy before the end of March 2027, with public consultation expected to begin in April.
Britain’s Home Secretary has threatened a ban on all Eritreans from entering the UK, unless the country agrees to the repatriation of the small boat illegal immigrants and convicted criminals. Shabana Mahmood said on Thursday that VIPs and officials from Eritrea have already been stripped of fast-track access to UK visas. And as of today, diplomats based in the UK will face restrictions on their movements outside London. The Home Office said they will now be barred from travelling 60 kilometres beyond the capital without permission from the Foreign Office.