Breaking News Today - Tuesday 10 November 2026

South African payments and commerce fintech platform Yoco Technologies, has closed a $100 million credit facility with Chicago-based Victory Park Capital Advisors on 9 November. The deal, confirmed in Yoco’s own announcement yesterday, is the company’s first direct debt facility and will fund its in-house Yoco Capital cash-advance product for the more than 200,000 merchants on its platform. Advances will range from R2,000 to R1.5 million, repaid via automatic deductions from daily takings, with no collateral required. Yoco has already facilitated more than R6.5 billion in merchant financing since 2018 through third-party partners; the new facility gives it direct control over pricing, risk and scale. CEO Carsten Höltkemeyer said the move completes an operating system covering payments, point-of-sale and financing.
Wema Bank awards ₦300 million to 11 Nigerian startups at Hackaholics 7.0. Eleven Nigerian startups received a combined ₦300 million from Wema Bank after the grand finale of Hackaholics 7.0 in Lagos. The largest prize, ₦60 million, went to Tony Niteon Nwose of Niteon for an agritech platform linking farmers to processors, financing and international markets. Other awards included ₦40 million each to Acceede (education) and Craft Planet (plastic waste into building materials), ₦30 million to Neural Forge (AI medical diagnostics) and SocialSign (sign-language accessibility), and smaller sums for mental-wellness, AI customer tools, smart glasses for the visually impaired and women’s health solutions.

Headline News Today

S&P Global Warns Africa must cut Borrowing Costs and Build Reserves

International ratings agency S&P Global, has said African economies must reduce borrowing costs, strengthen foreign-exchange reserves and deepen domestic capital markets if they are to withstand external shocks, even if growth remains solid. A senior figure at the agency noted that high funding costs, limited buffers and underdeveloped local-currency markets leave many sovereigns exposed.
The comments, reported on 9 November, form part of broader analysis highlighting that sustained growth alone will not shield the continent. Median inflation has eased in recent months, yet risks from energy prices and other global factors persist.

MTN Group Nine-Month Service Revenue Rises 17.2%

MTN Group reported yesterday, that service revenue increased 17.2% in constant-currency terms to R176.2 billion in the nine months to 30 September 2026, with growth accelerating through the third quarter. On a reported basis the rise was 9.9%. EBITDA rose 22.9% in constant currency to R86 billion, expanding the margin by 2.8 percentage points to 47.9%.
Nigeria and Ghana drove much of the improvement, with strong data demand. Active customers reached 322.9 million. Free cash flow was R22.4 billion and R21.4 billion was upstreamed to the holding company. The proposed acquisition of IHS Towers remains on track for completion before year-end after shareholder and some regulatory approvals.

Botswana doubles De Beers stake to 30% under Anglo sale

President Duma Boko of Botswana said on 9 November in a speech to parliament that Botswana will increase its stake in diamond producer De Beers from 15% to 30% as part of Anglo American’s proposed sale of its 85% interest. He named the Global Diamond Consortium, led by former De Beers chief executive Gareth Penny, as the preferred bidder and confirmed that the governments of Namibia and Angola will also participate.

Botswana’s support is required because it holds a right of first refusal on Anglo American’s stake. Once complete, Botswana would become the single largest shareholder in De Beers. Anglo American put De Beers up for sale in 2024 amid falling diamond prices and rising competition from synthetic stones. De Beers chief executive Al Cook welcomed the remarks

Breaking Business and Market News Shorts:

Market Moves: The Nigerian Exchange All-Share Index rose 1.44% yesterday, to close at 252,456.88 points. Market capitalisation increased by N2.32 trillion to N163.92 trillion. Dangote Cement gained 9.6% and accounted for the bulk of the advance, closing at N1,469.90. The Johannesburg Stock Exchange All Share Index closed 2.04% higher at 115,038 on Monday 9 November, led by resources stocks. The rand strengthened and closed near R16.37–R16.38 to the US dollar after Monday’s session. Spot gold closed near $4,141 an ounce, up about 1.7% on the day, as oil prices fell.

Bank of Uganda Governor Michael Atingi-Ego said on 9 November that the Monetary Policy Committee maintained the Central Bank Rate at 12% after its meeting that day. The committee widened the corridor around the rate from plus or minus 2 percentage points to plus or minus 3 percentage points and set the margins for the rediscount and bank rates at 4 and 5 percentage points, lifting those rates to 16% and 17%.

The South African Reserve Bank reported on 9 November that its gross gold and foreign-exchange reserves stood at $74.51 billion at the end of October, down from $75.43 billion at the end of September. Net international reserves fell to $71.55 billion from $72.26 billion. The decline was driven mainly by a lower US dollar gold price, with gold reserves falling to about $16 billion.

Gold prices edged lower to around $4,111 per ounce today, giving back part of the previous session’s gains as investors awaited a key US inflation report that could shape expectations for Federal Reserve monetary policy. Markets are now pricing in an 84% probability of a Fed rate hike in December as policymakers continue to face persistent inflationary pressures.
Brent crude fell to below $92 per barrel this morning, extending losses from the previous session and hitting its lowest level since late August. This while diplomatic efforts to end the Middle East conflict continue. President Donald Trump expressed optimism about a possible resolution, citing “momentum toward an end” to the conflict following his meeting with Qatar’s prime minister.

Markets by Numbers

Currencies:

Currency markets indicate the US dollar marginally softer today. The Greenback is trading against the Euro at 1.12261 while trading against the Pound at 1.34463. The Yen is currently trading at 157.94 to the US dollar. The rand (ZAR), is currently trading at the 16.36 against the US dollar this morning.

Commodities:

Gold futures are down around -0.6% this morning, and currently trading at around $4112.83 per ounce.
Copper prices are 0.1% up today, with prices currently around $6.3342 per pound
Silver futures are down around -0.4% today, and currently trading at around $53.176 per ounce.
Platinum futures are up around 1.17% this morning, and currently trading at $1579.90, While Palladium is up by around 1.5% today, and currently trading around $1037.00 per ounce.
Lithium is down around -1.35% today, and currently at CNY/T 91 250
Brent crude oil prices are down around -1.1% today, and are currently trading around $91.53 with WTI trading at $85.80 currently
Cocoa futures are down -2.93% today, and currently trading at $5004 per ton.
Coffee futures are down around -2.29% today, and currently trading at around $2.7360 per pound

Crypto Currencies:

Bitcoin prices are down -0.78 today, and currently trading at around $74 621 per coin currently
Ether prices are down around -0.69% this morning, and currently trading around $2116.88

(All prices quoted at approximately 07H00 Central African Time)

African General News Briefs:

PA luxury estate in South Africa where the late Princess Diana spent holidays with her family before meeting former President Nelson Mandela in 1997 has been put up for sale for R150 million ($9 million). The residence in Tarrystone Estate in Cape Town, was where Princess Diana and her family stayed before her 1997 meeting with Nelson Mandela, and is now to be sold at a price tag of R150 million (around $9 million). Diana's 1997 visit included a significant meeting with Nelson Mandela focused on HIV/AIDS awareness, enhancing the estate's historic significance.
South Africa faces uncharted territory after the 4 November 2026 local elections. Between 127 and 138 of 213 councils are hung, where no party holds a majority, almost double the roughly 70 after the 2021 elections. Only Cape Town has an outright majority where the DA dominated.
No formal coalition agreements exist yet. Parties have formed negotiating teams: Informal contacts have started, especially in Gauteng metros where ActionSA is a kingmaker. First council meetings and election of mayors must occur by about 22 November. Likely outcomes are mixed local deals rather than a national pattern.