Breaking News Today - Monday 31 August 2026

• Kenyan e-health platform AfyaApp has launched with the goal of making personal healthcare information and access to health services more convenient, accessible and connected. AfyaApp has already received more than 500 downloads,  and has also conducted a successful pilot programme with Smart Health Care Clinic based in Maai Mahiu, Naivasha. The projects are currently at an early-stage and have primarily been driven through founder investment, internal resources and strategic partnerships.
  
• Nigerian agri-tech startup UfarmX, has used blockchain technology to empower rural, unbanked and underserved smallholder farmers. The Agri-Fintech company has now facilitated over US$6.8 million in agricultural commerce with over 10 000 farmers across Nigeria, Senegal, and Liberia utilising the platform created by founder Alexander Zanders. The platform is aiming for further expansion across Africa into Kenya according to the company website.Ufarm-x plans to launch Their new API product in 2027 enabling their credit scoring available to any financial institution at the click of a button.  

Your Week Ahead - Key African Economic Data Expected

• Today: In South Africa the SARB monetary data is out today - Private-sector credit growth, previously 7.8% year-on-year, forecast about 7.1%. 
• Tuesday 1 September: - Absa Manufacturing PMI for August, and Naamsa new vehicle sales for August, and Nigeria's Stanbic IBTC Bank PMI for August.
• Wednesday 2 September: South Africa — RMB/BER Business Confidence Index for Q3. 

1. Thursday - The African PMI cluster : South Africa — S&P Global PMI for August, Egypt PMI data and Kenya's Stanbic Bank PMI for August, with Uganda, Mozambique, Ghana and Zambia PMIs also due.

Dangote Oil Cites Major Local Crude Oil Shortage

Oil Growth Gives Kenya's TotalEnergies Record Profit

TotalEnergies Marketing Kenya has given investors a boost with one of its strongest first halves ever recorded. Pretax profit saw a lift of 53% to $10.28 million USD. and gross profit reaching a record $47,516 million US dollars as higher sales volumes, lower borrowing costs and growing non-fuel income offset a more competitive downstream petroleum market. Net profit rose 21%  in the six months ended June, while revenue increased 19% The pretax result was the company’s second-highest H1 performance on record.TotalEnergies invested $9.58 million USD during the half in network expansion, logistics optimisation and its multi-energy strategy. The performance extends a recovery that gathered pace in 2025

Breaking Business and Market News Shorts:  

• Brent crude prices climbed above $90 per barrel this morning, starting the week higher after the US military targeted Iranian rocket launchers preparing to deploy mines into the Strait of Hormuz, marking the first such attack in more than a month. However, reports indicate that around 6 to 8 million barrels of crude are still flowing through the Hormuz strait each day despite the absence of a peace agreement between Washington and Tehran.

• India’s BSE Sensex fell about 0.5% to 76,898 today, reversing last session’s gains as rising oil prices, escalating Middle East tensions and caution ahead of the MSCI reshuffle weighed on sentiment. Brent crude climbed towards $90 a barrel following the latest US-Iran escalation, raising concerns for oil-importing India.
  
• South Africa’s trade regulator on Friday approved a 15% higher import tariff for sugar imports into the country. The tariff  was raised to $785 per metric ton from $680, increasing tariff protection for domestic producers facing a rise in cheaper shipments, particularly from Brazil. The domestic sugar industry continues to face falling international sugar prices, rising imports and falling production volumes.  
  
• China's Shanghai Composite fell 0.5% to 3,931 today, while the Shenzhen Component lost 1% to 13,810, as weak economic data reinforced concerns about China's growth outlook. Official PMI figures showed the Composite PMI edged up to 49.5 in August from 49.3 in July but remained in contraction territory, with both manufacturing (49.8) and non-manufacturing activity (49.0) continuing to shrink. 
  

• Gold fell below $4,450 an ounce on Monday, extending a sharp drop in the previous session as hawkish remarks from Federal Reserve Chair Kevin Warsh revived expectations for an imminent interest rate hike. In his Jackson Hole address on Friday, Warsh warned that inflation is not easing significantly

Markets by Numbers 

Currency markets indicate the US dollar marginally stronger today. The Greenback is trading against the Euro at 1.15889 while trading against the Pound at 1.35446 The Yen is currently trading at 159.83 to the dollar. The rand (ZAR), is currently trading around the 16.15 mark against the US dollar this morning.

Commodities:  

• Gold futures are -0.36% lower this morning, and currently trading at around $4437.15 per ounce.  
• Copper prices are up 0.15% this morning , with prices currently around $6.5731 per pound
• Silver futures are up around 0.6% today, and currently trading at around $65.576 per ounce.
• Platinum futures are down around -2.3% this morning, and currently trading at $1810.10 while Palladium is down -0.12% today, and currently trading around $1325.00 per ounce.
• Lithium prices are up 3.5% today, and currently at CNY158 600
• Brent crude oil prices are trending 2.8% higher today, and currently trading around $90.63 with WTI trading lower at $85.57 currently
• Cocoa futures have spiked by over 7.8% today, and currently trading at $6648 per ton. 
• Coffee futures are up over 1% today, and currently trading at around $3.1285 per pound

Crypto Currencies: 

• Bitcoin prices are up around 0,47% today, currently trading at around $78 031 per coin.
• Ether prices are trending -0.5% lower this morning, and currently trading around $2437.27

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

African General News Briefs:

• Zambian opposition leader Brian Mundubile has been charged with treason, according to a statement by his lawyer. Mundubile was arrested on Thursday, after a deadly raid by the authorities led the opposition politician to go into hiding. Mundubile had disputed the results of the country's recent presidential election, which saw incumbent President Hakainde Hichilema securing a second term. The authorities have accused Mundubile's NRPUP party of planning an armed insurgency, which it has denied.
• Oyo Nyimba, an Ugandan king, who became the world's youngest reigning monarch when he took the crown in 1995, has died aged 34, the prime minister of ​his kingdom announced. Oyo Nyimba, a Ugandan king, who became the world's youngest reigning monarch when he took the crown in 1995, has died aged 34, the prime minister of ​his kingdom announced.