Breaking News Today - Friday 18 September 2026

African Start-up News Headlines:

Nigerian climate-tech startup Biochar Industrial Group (BIG), founded in 2026 by former Releaf Earth executives Ikenna Nzewi, Uzoma Ayogu and Isaiah Udotong, closed a $1.5 million pre-seed round. Breega led the funding, with participation from Catalyst Fund, while the Mulago Foundation provided non-dilutive capital. BIG installs and operates pyrolysis equipment at food-processing plants under a Biochar-as-a-Service model. Factories supply agricultural waste (nut shells, husks, cobs); BIG converts it to biochar for carbon-removal credits and soil enrichment, sharing value with partners.

Headline News Today

World Bank Triples Private Capital for Africa to $22 billion

The World Bank Group mobilised a record $112 billion in private capital in fiscal 2026, more than triple the $35 billion recorded four years earlier. Combined with its own lending, total financing for developing economies exceeded $200 billion.

Africa was a clear leader in financing: private capital mobilisation on the continent lifted from about $9 billion in FY22 to $22 billion in FY26, a gain of nearly 150 percent. Guarantees also jumped past $25 billion, beating a 2030 target four years early. President Ajay Banga said donor budgets cannot meet development needs alone and that private capital must help fund infrastructure, energy, agribusiness and job creation.

New Distribution Partnership for Samsung

Mitsumi Distribution has been named an authorised B2B distributor for Samsung South Africa’s Mobile eXperience range, a move aimed at widening the brand’s reach among retailers, businesses and government buyers.

Announced in Johannesburg on 17 September 2026, the deal covers Galaxy smartphones, tablets, wearables and accessories such as batteries, covers and memory cards.

Mitsumi already distributes Samsung products across Africa and the Middle East. In South Africa it will supply a broader retailer base, including smaller specialists, and will not sell directly to consumers.

The partnership adds official warranty support intended to reduce grey-market risk and pairs Samsung’s range with Mitsumi’s device financing. Company executives said the aim is to make quality devices more accessible while strengthening Samsung’s already strong local position. GfK figures cited in the announcement point to high consumer spend on smart devices and a preference for Samsung.

Job Cuts and New Appointments at African Bank

African Bank is cutting costs and resetting leadership after a weak first half and a run of executive exits. Group CEO Kennedy Bungane left in March after poor results and regulatory reporting problems. CFO Anbann Chetti resigned in September. Veteran banker Zweli Manyathi is now permanent CEO and has appointed new heads for personal banking, business banking, insurance and people.

The lender reported a R624 million after-tax loss for the six months to 31 March 2026, with impairments of R1.79 billion and a cost-to-income ratio near 70 percent. It is consulting on up to 1,200 job cuts and about 90 branch closures after buying Ubank, Grindrod Bank and parts of Sasfin. Capital adequacy was still 25.8 percent and deposits rose 18 percent. S&P cut the outlook to negative while affirming B+ ratings. The bank was rescued in 2014 after a collapse in unsecured lending and remains partly owned by the SARB and GEPF.

Breaking Business and Market News Shorts:

The Bank of Japan has lifted its key short-term rate by 25bps to 1.25% in a 7-2 vote at its September meeting, marking the highest level since April 1995 and in line with market expectations. The hike, the first in three months, reflected persistent inflationary pressures, including those stemming from higher oil prices
The Chinese Yuan touched 6.69 against the USD today, the highest exchange rate since July 2022. Over the past 4 weeks, US Dollar Chinese Yuan lost 0.55%, and in the last 12 months, it decreased 5.92% against the US dollar.
Bank of Uganda raised the cash reserve ratio for commercial banks to 13.5 percent from 11 percent, effective 24 September. This is the second CRR increase in two months. The shilling traded near a two-year low around 3,920–3,925 per dollar, while the policy rate was left at 9.75 percent.
The South African FNB/BER Consumer Confidence Index was released yesterday (17 September). It showed an improvement to a reading of minus 13 from minus 19 in the second quarter, beating a market expectation of about minus 20.
Samsung has partnered with Mistral AI (and led a major funding round) to deploy on-premises AI models for chip yield, defect detection, and manufacturing precision in its fabrication processes, allowing the company to keep sensitive data internal.

Markets by Numbers

Currencies:

Currency markets indicate the US dollar marginally weaker today. The Greenback is trading against the Euro at 1.14861 while trading against the Pound at 1.33685. The Yen is currently trading at 157.19 to the US dollar. The rand (ZAR), is currently trading at the 16.23 against the US dollar this morning.

Commodities:

Gold futures have gained around 0.56% this morning, and currently trading at around $4365.37 per ounce.
Copper prices are down by -0.43% today, with prices currently around $6.5550 per pound
Silver futures are up around 1.67% today, and currently trading at around $66.180 per ounce.
Platinum futures are up around 0.42% this morning, and currently trading at $1801.80, While Palladium is up around 1.34% today, and currently trading around $1320.50 per ounce.
Lithium is trading 0.83% Higher today and currently at CNY/T 134 300
Brent crude oil prices are trending around -1% lower today, and currently trading around $103.67, with WTI trading at $100.92 currently
Cocoa futures have shed around -3.4% today, and currently trading at $5772 per ton.
Coffee futures are down over -1.79% today, and currently trading at around $2.7650 per pound

Crypto Currencies:

Bitcoin prices are up around 1.46% today, and trading at around $77 429 per coin currently
Ether prices are 1.6% higher this morning, and currently trading around $2488.10

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

African General News Briefs:

A ninth woman’s body has been found near Johannesburg as Femicide hits South African City - Police have recovered another body (half-naked, wrapped in a sheet, apparent stab/throat wounds) in Dawn Park/Ekurhuleni, bringing the toll to nine women (mostly 20s–30s) in two months. Some showed signs of sexual violence. Authorities have not confirmed a serial killer but note concerning similarities. Authorities have imposed local measures, and offered a reward for information.

A British woman who was kidnapped in Malawi nearly a week ago has been rescued in a police operation that left four suspected kidnappers dead and a senior police chief wounded, According to a report on BBC. Nusrat Osman, 47, was freed on Thursday during an operation on the outskirts of the southern city of Blantyre, police said. Officers exchanged gunfire with the suspected kidnappers, who police said were armed with an AK-47 rifle and a pistol.