Breaking News Today - Friday 25 September 2026
Your Daily Business and African Startup Update
Breaking News June
Daily Breakdown of Business and African Startup Business News
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African Start-up News Headlines:
- Africa-focused 3IF Ventures has completed its first deal from the Inclusive Insurance Investment Fund, backing Turaco, an embedded micro-insurance platform. Turaco currently operates in six African markets as well as Pakistan, distributing low-cost medical and life cover through distribution partners that include Safaricom, M-KOPA and ASA International. The fund reached a $12 million first close in June 2026, anchored by FSD Africa Investments and ZEP-RE, and targets a $30 million final close for pre-seed to Series B insurtech investments. The deal amount was undisclosed. The move signals specialised capital targeting Africa’s insurance protection gap.
African payments unicorn Flutterwave named Morounke Olufemi its new Global Chief Financial Officer, succeeding Mitesh Popat, who is stepping down after about two years (he will remain a strategic adviser). Olufemi, previously Flutterwave’s EMEA CFO since 2025, earlier served as Group CFO at Access Holdings, where she helped raise $300 million in Additional Tier 1 capital and led rights issues. She brings more than 24 years of experience across banking, insurance and strategy.
African payments unicorn Flutterwave named Morounke Olufemi its new Global Chief Financial Officer, succeeding Mitesh Popat, who is stepping down after about two years (he will remain a strategic adviser). Olufemi, previously Flutterwave’s EMEA CFO since 2025, earlier served as Group CFO at Access Holdings, where she helped raise $300 million in Additional Tier 1 capital and led rights issues. She brings more than 24 years of experience across banking, insurance and strategy.
Headline News Today
African States Hold Interest Rates Steady While South Africa Raises Repo Rate
The stark contrast between the South African economy and others in Africa, continues to be highlighted in the recent rate announcements in major African States this week. The Bank of Ghana has held their policy rate at 14% for a third straight meeting (unanimous). after its policy meeting yesterday (24 September). August inflation in Ghana was at 5.0% (from 4.6%) while current GDP growth level is at 6%. Ghana's policy Committee called risks to inflation and growth “broadly balanced.”
The Central Bank of Egypt also held rates for a fifth consecutive meeting (overnight deposit rate of 19%, lending rate 20%) yesterday (24 September), with current GDP at a 5.1% growth rate. Against this backdrop, South Africa's inflation sits at 4.4% (August) while GDP has slipped into negative territory in Q2 at -0.2% and the repo rate has been raised this week by 25 basis points to 7.25%.
Zambian Inflation Rate Eases
The annual inflation rate in Zambia dropped to 6.1% in September 2026, reaching the lowest level since February 2018. Inflation was marginally down from 6.2% in August, with food inflation slowing to 5.8% in September, compared with 6% a month earlier, while non-food price growth remained steady at 6.6%. A resilient currency and temporary tax measures have helped contain inflation in Zambia, with the fuel-tax suspension and zero-rated VAT set to expire on September 30. On a monthly basis, the CPI rose by 0.4%, the most in five months, after a 0.2% increase in the month before.
New Momentum in Bitcoin ETF's
US-listed spot Bitcoin ETFs have flipped net positive for 2026 this week, ending months of redemptions. Bloomberg put year-to-date net inflows at about $320 million as of 23 September after roughly $4.6 billion flowed in since 19 August. Farside data shows the streak continuing with inflow of around $999 million on 21 September (largest single day in 11 months), then $715 million, $347 million and $191 million through 24 September, led by BlackRock’s IBIT and Fidelity’s FBTC.
The turnaround tracks Bitcoin’s rebound of about 35% from mid-August to above $86,000, putting the average ETF holder back above an estimated $82,000 cost basis. The US Treasury’s 19 August signal that it would step up buybacks of long-dated bonds helped ease rate-sensitive selling and revive risk appetite. Institutional demand, some short covering after Bitcoin broke key levels, and a broader crypto market reclaiming the $3 trillion mark all added demand. Flows still remain volatile day to day, but the year-to-date ledger is no longer in the red.
Breaking Business and Market News Shorts:
- Aliko Dangote said this week at the Qatar Economic Forum that Dangote Petroleum Refinery will seek a New York Stock Exchange listing after its Nigerian IPO and after capacity doubles. The Lagos plant, already processing about 700,000 barrels a day, is raising up to $1.6 billion in Africa’s largest IPO, open 14 September to 13 October. Proceeds will help fund an expansion to 1.4 million barrels a day, targeted for the first quarter of 2029.
The yield on the US 10-Year Treasury note held just below 5.2% today, holding close to its highest level since 2007. This while the 30-year yield stood around 5.48%, its highest since 2004. US Borrowing costs have climbed as elevated oil prices and resilient US economic data fueled inflation concerns, strengthening expectations that the Federal Reserve may tighten policy further.
- Palladium futures held near $1,270 per ounce, its lowest level since early August, amid surging sovereign yields. Stronger-than-expected economic data from the Eurozone and the US raised bets of further hikes in the major economies. UBS forecasts a market surplus for the metal, as increased recycling and weaker consumption of catalytic converters are expected to more than offset lower mining output compared with last year.
- Copper futures fell to around $6.66 per pound today, hitting a one-week low, with a stronger US dollar and rising Treasury yields weighing on prices amid expectations that the Federal Reserve will continue raising interest rates to combat inflation. Union workers at Escondida, the world’s largest copper mine in Chile, are calling for a strike after rejecting a wage offer. Metals trader Sprott Asset Management also said global mined copper output could decline this year for the first time since 2017
- The United States is backing a new electricity initiative for copper and cobalt regions in the Democratic Republic of Congo and Zambia, expanding its involvement in Africa’s critical-mineral competition with China beyond railways and mines.The wider electrification project is valued at approximately $300 million, and the investment looks to strengthen US involvement in Africa’s Lobito Corridor and critical-mineral supply chains.
Markets by Numbers
Currencies:
Currency markets indicate the US dollar strengthening today. The Greenback is trading against the Euro at 1.13726 while trading against the Pound at 1.32145. The Yen is currently trading at 158.18 to the US dollar. The rand (ZAR), is currently trading at the 16.41 against the US dollar this morning.
Commodities:
- Gold futures have dropped around -0.3% this morning, and currently trading at around $4260.96 per ounce.
- Copper prices are down -0.63% today, after an earlier spike, with prices currently around $6.6770 per pound
- Silver futures are down by around -0.72%, and currently trading at around $63.369 per ounce.
- Platinum futures are down around -0.4% this morning, and currently trading at $1744.60, While Palladium is down by around -1.7% today, and currently trading around $1259.00 per ounce.
- Lithium is trading -1.5% lower today, and currently at CNY/T 133 150
- Brent crude oil prices are trending -1% lower today, and currently trading around $105.49, with WTI trading at $92.92 currently
- Cocoa futures have gained around 1.1% today, and currently trading at $5590 per ton.
- Coffee futures are down around -0.2% today, and currently trading at around $2.7535 per pound
Crypto Currencies:
- Bitcoin prices are down around -0.25% today, and trading at around $84 167 per coin currently
- Ether prices are down around 0.2% this morning, and currently trading around $2679.66
(All prices quoted at approximately 07H30 Central African Time)
African General News Briefs:
Tigrayan rebel forces in Ethiopia, have seized multiple airports (including Mekelle) and launched offensives into Amhara and Afar regions, shattering the 2022 Pretoria peace deal. The TPLF declared a “full-blown war” after forming an alliance with other rebel groups aimed at ousting Prime Minister Abiy Ahmed. Ethiopia’s army claimed it killed 272 Tigrayan fighters and wounded 260 in counter-operations in Amhara, while flights to Lalibela were suspended.
At least 41 people died and 49 were rescued after a vessel carrying around 100 passengers and cargo capsized near Mapera while travelling from Kigoma (Tanzania) to Kalemie. Search operations continue for the missing. Overcrowding, poor safety standards, and lack of life jackets are common factors in frequent Congolese lake/river tragedies. This is the second major incident on the same route in under a month.
Tigrayan rebel forces in Ethiopia, have seized multiple airports (including Mekelle) and launched offensives into Amhara and Afar regions, shattering the 2022 Pretoria peace deal. The TPLF declared a “full-blown war” after forming an alliance with other rebel groups aimed at ousting Prime Minister Abiy Ahmed. Ethiopia’s army claimed it killed 272 Tigrayan fighters and wounded 260 in counter-operations in Amhara, while flights to Lalibela were suspended.
At least 41 people died and 49 were rescued after a vessel carrying around 100 passengers and cargo capsized near Mapera while travelling from Kigoma (Tanzania) to Kalemie. Search operations continue for the missing. Overcrowding, poor safety standards, and lack of life jackets are common factors in frequent Congolese lake/river tragedies. This is the second major incident on the same route in under a month.
