Breaking News Today – Wednesday 26 August 2026

African Start-up News Headlines:

• Edge Growth, led by CEO Daniel Hatfield, has launched its new Edge Impact Fund (EIF) with a first close of US$21.9 million, aimed at tech-enabled companies that need growth capital without handing over more equity. Edge Growth Ventures, the firm’s impact investing arm, manages the fund, and will disburse funds for qualifying startups in South Africa and selected markets elsewhere in Africa. The fund targets Growth-stage companies, typically somewhere between Series A and Series C, with a minimum annual revenue of US$1.2 million, and a proven model and predictable, recurring cash flow
  

Business News Today 

Boardroom Battles Expected Today At Prosus AGM

Some of the world’s largest investors have objected strongly to the share structure of Prosus and its parent company Naspers and how the companies pay their executives and board members. In disclosures of how they intend to vote at the companies’ annual general meeting on Wednesday (26 August), Norway’s Storebrand and the Netherlands’ Van Lanschot Kempen said they will vote against the reelection of board members Rachel Jafta and Mark Sorour because of the share structure.

Norges Bank Investment Management, which oversees about $2 trillion in assets, along with the California State Teachers Retirement System, objected to pay proposals at Prosus. The investor discontent, is the latest indication that shareholders are unhappy with the super-share structure that gives a small group of insiders including billionaire and group chair Koos Bekker, 1 000 votes per share held compared with a single vote for an ordinary security.

Copper Futures Hit New All-Time High

While African Copper producers gain traction, Copper futures lifted above $6.78 per pound this morning, hitting a new all-time high. This as supply-side risks persisted despite a recent easing of the market squeeze. Traders continued to divert shipments toward the US amid elevated premiums and expectations of new tariffs under the Trump administration, with the White House yet to make a final decision on the matter. Copper inventories in warehouses tracked by the London Metal Exchange have fallen by almost half since mid-May following a 42-day streak of declines. Elsewhere, Zijin Mining warned that flooding at the Kamoa-Kakula copper complex in the Democratic Republic of Congo could cut its share of production by as much as 57,000 tons this year, underscoring ongoing risks to global supply. On the demand side, Chinese smelters have faced difficulties securing feedstock, increasing the need for imports.

MTN Seeks Banking Licences Across Africa

Telecoms major, the MTN Group, is exploring banking licences in several African markets as the company looks to expand lending ​from its own balance sheet, CEO Ralph Mupita said yesterday. MTN ‌is stepping up its push into fintech services to drive growth beyond traditional telecommunications revenue, with lending emerging as one of the fastest-growing segments within its mobile money business. MTN currently provides loans through partnerships with banks, but looks set to change this trajectory through a trajectory of own banking licences. Mupita said, “The big growth now, which will be the growth of the future, ​is actually lending.”

Approximately 13% of total service revenue came from MTN’s fintech business (which includes Mobile Money/MoMo and related banking/financial services) in the past full financial year, which ended 31 December 2025. Fintech revenue alone reached R30.3 billion (up 30.0%), while the underlying/constant-currency revenue figure was around R28.8 billion (up 23.2%).

Breaking Business and Market News Shorts:  

• South Africa’s central bank said yesterday that its composite leading business cycle indicator fell 1.4% month-on-month in June. The indicator collects data on vehicle sales, business confidence, money supply and other factors to gauge the outlook for Africa’s biggest economy.
• The South African rand strengthened below 16 per US dollar, to around R15.92 today, and trading near its strongest level since the Iran war began in late February. A softer US dollar, elevated precious-metal prices and stronger appetite for emerging-market assets supported the currency, while lower oil prices and fading concerns over expanded US sanctions on Iran also helped.
• China’s Shanghai Composite edged up 0.2% to 3,896 today, while the Shenzhen Component lifted 0.4% to 13,795, with investors awaiting developments from the ongoing National People’s Congress Standing Committee meeting. The August 25–28 session is being closely watched for policy support following weak economic data and repeated pledges from policymakers to bolster growth.
• Japan’s Nikkei 225 Index rose 0.6% to above 66,000 today, extending gains from the previous session as falling oil prices eased concerns over higher inflation in the near term. Japanese stocks also tracked gains on Wall Street overnight as long-term Treasury yields declined sharply, while investors awaited greater clarity on the US government’s fiscal reform plans.
• Gold futures traded around $4,650 an ounce today, holding close to three-month highs as investors awaited the latest US PCE price index report, the Federal Reserve’s preferred measure of inflation. Attention is also turning to Fed Chair Kevin Warsh’s speech at the annual Jackson Hole symposium on Friday

Markets by Numbers 

Currency markets indicate the US dollar marginally stronger today. The Greenback is trading against the Euro at 1.16621 while trading against the Pound at 1.36331 The Yen is currently trading at 159.03 to the dollar. The rand (ZAR), is currently trading around the 15.92 mark against the US dollar this morning.

Commodities:  

• Gold futures are -0.3% lower this morning, but rebounding, and currently trading at around $4640.40 per ounce.  
• Copper prices are up 0.5% this morning , with prices currently around $6.7482 per pound
• Silver futures are down around -1% today, and currently trading at around $69.047 per ounce.
• Platinum futures are up around 0.7% this morning, and currently trading at $1874.50 while Palladium is up 0.75% today, and currently trading around $1343.50 per ounce.
• Lithium prices have seen -2.7% slump today, and currently at CNY152 750
• Brent crude oil prices are trending over -2% lower today, and currently trading around $86.64 with WTI trading lower at $80.52 currently
• Cocoa futures are down over -1.9% today, and currently trading at $5829 per ton. 
• Coffee futures are down around-1.8% today, and currently trading at around $3.3550 per pound

Crypto Currencies: 

• Bitcoin prices are up around -0.3% today, currently trading at around $78 775 per coin.
• Ether prices are trending 0.44% Higher this morning, and currently trading around $2455.52

(All prices as quoted at approximately 07H10 Central African Time) 

African General News Briefs:

• In a major political move, Tanzania’s Vice President Emmanuel Nchimbi has resigned from office and announced his retirement from politics, saying he had become convinced that President Samia Suluhu Hassan wanted a different deputy. His departure, effective 4 September 2026, comes with growing questions over political divisions and media freedom. The announcement comes less than a week after authorities suspended the publishing licence of the critical MwanaHALISI newspaper for six months.
• Liberia’s former vice president, Jewel Howard-Taylor’, was sent to prison yesterday and will await trial on charges of drug trafficking, after a court had denied her request to be released on humanitarian grounds for medical treatment. Howard-Taylor’s lawyers requested the court for permission for her to remain in a local hospital in Monrovia to receive treatment for a health emergency. Howard-Taylor reportedly suffered an asthma attack and had blood pressure, after her arrest, according to local media reports.