Breaking News Today - Monday 9 November 2026

African Start-up News Headlines:

South African-founded Water Ledger Global has received a strategic investment from Launch Africa to expand its water data platform. Founded in October 2024, the company builds a shared ledger that records water availability, usage and value for regulators, utilities, investors and lenders, aiming to reduce data silos and make water infrastructure more bankable. Live deployments already include its SWaN mitigation and nutrient market solution in Virginia and a water accounting/trading system used by Seqwater in Australia; subsidiaries operate in South Africa, Australia and the United States. The undisclosed funding will support broader rollout to utilities, regulators and markets.

Headline News Today

Libyan and Egyptian Energy Project to Accelerate

Egyptian Foreign Minister Badr Abdelatty said late on Saturday, that Egypt aims to accelerate energy project developments with Libya. The projects include a gas pipeline links between the two countries, the refining of Libyan crude oil in Egypt, and an electricity interconnection.
Abdelatty made the remarks in a statement from Egypt’s Foreign Ministry after meeting Libya’s acting oil and gas minister, Khalifa Abdulsadek, in Tripoli. He called for faster progress on constructing and connecting gas pipelines, expanding cooperation on petroleum products, completing projects to refine Libyan oil in Egypt for re-export, rehabilitating Libyan refineries, and finishing electricity links between the two countries.

Missed IPO investor Target for Dangote

Africa’s largest IPO, launched by Aliko Dangote for his $20 billion refinery being constructed in Kenya, has fallen short of attracting the targeted 10 million investors, this despite orders worth ₦6.4 trillion. Dangote cited time constraints and difficulties in accessing the offer as reasons for not meeting the investor target.

The IPO, which was branded as the 'People’s IPO', offered 4.1 billion shares at ₦525 each and was extended due to high interest. Applications came from 120 countries, including all African nations, but regulatory challenges complicated broader access to the offer.

New Small Business Focussed Fund

Nigeria Export-Import Bank (NEXIM) secured a $30 million financing facility from the African Export-Import Bank (Afreximbank) on 7 November to expand credit for small and medium-sized enterprises in export activities. The facility, formalised at a signing ceremony during the Creative Africa Nexus Weekend in Lagos on Thursday, consists of a $20 million revolving working capital component and a $10 million medium-to-long-term loan.

The fund will target support for manufacturing, commodity processing, intra-African trade and value-added production under the African Continental Free Trade Area. Beneficiary firms are expected to receive capacity-building support and access to Afreximbank platforms including the Pan-African Payment and Settlement System.

Breaking Business and Market News Shorts:

Market Moves: Nigeria’s equities market closed the week ended 6 November with the NGX All-Share Index down 2.13% at 248,877.22 points. JSE All Share closed Friday 6 November at 112,739, down 0.48%. Top 40 ended at 104,714, also down about 0.5%. The rand finished near R16.53 to the dollar. Brent was around $97.7–98.3 and WTI near $90.7–90.8. Gold around $4,100.

Kenya’s Quickmart PLC announced that its initial public offering drew applications valued at 18.41 billion Kenyan shillings against a 15 billion shilling target, representing a 122.7 percent subscription level. The offer received 18,492 applications for about 2.45 billion shares at 7.50 shillings each, against 2 billion shares available.

Côte d’Ivoire has inaugurated the Biovéa biomass power plant at Ayébo near Aboisso. The 46 MW facility, the largest biomass plant in West Africa and the first in Côte d’Ivoire to feed the national grid from agricultural residues, is expected to produce about 348 GWh a year and supply power to roughly 1.7 million people.
The Central Bank of Nigeria’s composite PMI rose to 53.2 in October from 53.0 in September, the fifth consecutive month of expansion. Industry and agriculture strengthened while services moderated. Kenya’s Stanbic Bank PMI reached 52.5 in October, the strongest reading of 2026 so far and the first expansion in eight months

PGMS see positive gains today with Gold above $4,100 per ounce this morning, extending last week’s gains as weaker oil prices eased inflationary pressures, although expectations of a more hawkish Federal Reserve capped further upside. Platinum futures also lifted above $1,550 an ounce, extending their recovery to a two-week high as easing Middle East tensions and falling oil prices improved the outlook for precious metals.

Brent crude prices traded around $98 per barrel on Monday, holding losses from last week after US President Donald Trump said it was “highly unlikely” that he would authorise further strikes on Iran if negotiations over its nuclear program and the reopening of the Strait of Hormuz make significant progress.

Markets by Numbers

Currencies:

Currency markets indicate the US dollar marginally softer today. The Greenback is trading against the Euro at 1.11584 while trading against the Pound at 1.33775. The Yen is currently trading at 158.26 to the US dollar. The rand (ZAR), is currently trading at the 16.49 against the US dollar this morning.

Commodities:

Gold futures are up around 1.29% this morning, and currently trading at around $4123.90 per ounce.
Copper prices are 1.6% up today, with prices currently around $6.3233 per pound
Silver futures are up around 2.2% today, and currently trading at around $53.062 per ounce.
Platinum futures are up around 1.11% this morning, and currently trading at $1553.90, While Palladium is up by around 2.5% today, and currently trading around $1042.00 per ounce.
Lithium is down around -1.18% today, and currently at CNY/T 92 500
Brent crude oil prices are down around -0.24% today, and are currently trading around $98.08 with WTI trading at $91.02 currently
Cocoa futures are down -0.5% today, and currently trading at $5155 per ton.
Coffee futures are up around 1% today, and currently trading at around $2.800 per pound

Crypto Currencies:

Bitcoin prices are down marginally today, and currently trading at around $74 527 per coin currently
Ether prices are up around 0.5% this morning, and currently trading around $2031.81

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

African General News Briefs:

President John Dramani Mahama of Ghana, announced a New Economy plan to invest more than $9 billion in job-rich sectors between 2027 and 2030. He spoke at the Hogbetsotso Festival in Anloga, Volta Region, over the weekend. Finance Minister Cassiel Ato Forson will set out the details in the 2027 Budget on 12 November. Priority areas include textiles, garments, commercial agriculture, hospitality and tourism, with the Volta Region expected to gain from a light industrial zone on 200 acres in Keta for textiles and garments, initially creating about 3,000 jobs and rising to 10,000.
Ghana’s Minister of Foreign Affairs, Samuel Okudzeto Ablakwa, said on 7 November that the government is advancing a proposal by President Mahama to expand the African Continental Free Trade Area framework to include Caribbean Community countries. The goal is to turn historical ties into a larger trading bloc covering Africa’s roughly 1.4 billion people and $3 trillion GDP plus Caribbean markets. Ablakwa, speaking after Commonwealth Business Forum discussions, noted that the Ministry of Foreign Affairs has begun examining legal and institutional options for an AU-CARICOM partnership.
The Independent Electoral Commission of South Africa declared the 4 November local government elections free and fair on 8 November. The ANC took 30.76% of the vote and 3,246 council seats, the DA 24.64% and 1,695 seats, MK 9.76% and 785 seats, the EFF 6.22% and 588 seats, and ActionSA 5.67% and 313 seats. Turnout was 52%. The ANC holds outright control in only 53 municipalities. Coalition talks are under way across many hung councils.