Breaking News Today - Tuesday 3 November 2026

African Start-up News Headlines:

Johannesburg-based EASE Holdings BV, have secured an additional $9.5 million in equity from US investor AAFC Group, taking total equity raised to $24 million. The company provides hospitals and clinics with MRI, CT, PET-CT scanners, surgical robots and radiotherapy systems under pay-per-use and managed-service contracts that include maintenance, training and upgrades, treated as operating expenses. Funds will support expansion of the installed base in South Africa and Ghana, where it already has deployments, and a target of at least $20 million in new South African installations in 2027.
Nairobi-based Enza Capital, which has raised $58 million across its first two funds and backed 47 companies, has launched a dedicated vehicle for AI startups and AI-enabled businesses in Africa. Managing partner Mike Mompi told TechCabal the firm will not chase frontier models but will back companies adapting AI to local languages, data and infrastructure constraints, prioritising proprietary data, distribution or workflow integration and sustainable margins. Enza already runs AI Tinkerers chapters in Nairobi, Lagos, Cairo and Johannesburg and is working on its 12th AI investment. Fund size was not disclosed.
South African agricultural bio-solutions company Afrikelp, which develops seaweed-based bio-stimulants from Ecklonia maxima kelp harvested off the South African coast, has been acquired by Sustainable Agro Solutions (SAS Group), backed by Stirling Square Capital Partners. RMB Ventures, which led a management buyout in 2019, supported the international expansion that preceded the deal. Afrikelp’s products are used by farmers in more than 55 countries to improve crop performance and resilience. The transaction places the business inside a broader international biosolutions platform, giving it access to additional technologies and markets.

Headline News Today

US suspends South Africa and Rwanda from AGOA as of 1 January 2027

US Trade Representative Jamieson Greer said on Monday that Washington will suspend South Africa and Rwanda from the African Growth and Opportunity Act from 1 January 2027. The move ends duty-free access for thousands of products after an annual review found practices inconsistent with eligibility criteria, including barriers to US trade and investment plus concerns over human rights, rule of law and national security interests.
South Africa was the largest beneficiary of the AGOA deal, with about $1.7 billion in AGOA exports in 2025 (mainly vehicle parts, citrus and wine); these made up roughly 10% of its US exports and 1% of its global exports. South Africa’s Department of Trade, Industry and Competition said late Monday it would support affected sectors, accelerate export diversification and continue engaging the United States. No immediate response came from Rwanda.

New Electric Vehicle sales Surge

The Cumulative sales of plug-in hybrid electric vehicles, traditional hybrids and battery-electric vehicles in South Africa, was 22,389 units between January and September. That number showed a 34% lift from the 16,703 vehicles sold during the whole of last year. in comparison, total vehicle sales, including conventional vehicles running on diesel and petrol, grew by 10.4% year-on-year in October to 61,890 units, according to the latest naamsa data showed
Battery-electric vehicles ‌and ⁠plug-in hybrids made up 50.5% of the total year-to-date NEV sales by September, overtaking traditional hybrids, which made up 49.5%. Sales of PHEVs reached 8,082 units and BEVs 3,217 units in the first nine months of the year, ⁠compared with 11,090 HEVs.

Vehicle Sales Lift In South Africa

South Africa’s new-vehicle sales rose 10.4% year-on-year to 61,890 units in October, Naamsa said on Monday. Passenger cars led the increase at 45,084 units (up 13.6%), with the rental industry taking 21.4% of those sales. Light commercial vehicles rose 2.2% to 13,689. Exports recovered to 38,117 units (up 6.3% year-on-year and 21.1% month-on-month), though cumulative exports for the first ten months remained 8.3% below 2025. Dealer sales accounted for an estimated 78% of the total.

Breaking Business and Market News Shorts:

Market Moves: Brent crude fell sharply on Monday (settling near $105 after trading above $110 earlier) on hopes for a diplomatic resolution to the Iran conflict. Gold rebounded from a one-year low, ending the session around $3,940–$3,970 an ounce. On the Johannesburg Stock Exchange on Monday the Top 40 closed up about 2% at 101,439. The rand strengthened to around 16.60 against the dollar by late Monday/early Tuesday.
The Financial Conduct Authority in the UK, has suspended Petra Diamonds’ shares from trading on the London exchange, after the South Africa-focused diamond producer failed to publish its annual financial report by the regulatory deadline. Petra missed the October 31 deadline for publishing its audited financial report for the year ended June 30.
South Africa’s Aspen Pharmacare said yesterday it will sell the European commercialisation rights and related intellectual property for its women’s health product Ovestin to Ennogen Healthcare International for €197 million (about $220 million). Ennogen will also buy related inventory of about €4 million. Aspen will continue manufacturing and supplying the product under long-term agreements for at least ten years
Bitcoin prices have fallen to below $77 000, reaching a more than 6-week low. This after a major Binance Hack last week, saw around $6 billion in crypto currencies stolen from the international crypto exchange.
Egypt on Monday, raised more than $650 million in its initial public offering of the state-owned Banque du Caire, marking one of the biggest asset sales in years as international lenders push a privatisation drive. The bank's majority shareholder, Banque Misr, sold 6.86 billion shares, representing 45% of Banque du Caire, at 5.30 Egyptian pounds per share
Palladium futures have crashed to below $1,000 an ounce, reaching its lowest level since June 2025, amid persistent investment outflows and a bearish long-term demand outlook. Traders have lowered price forecasts as demand cools and prospects for the auto sector weaken.

Markets by Numbers

Currencies:

Currency markets indicate the US dollar flat today. The Greenback is trading against the Euro at 1.11888 while trading against the Pound at 1.34069. The Yen is currently trading at 157.89 to the US dollar. The rand (ZAR), is currently trading at the 16.62 against the US dollar this morning.

Commodities:

Gold futures are down around -0.68% this morning, and currently trading at around $3923.27 per ounce.
Copper prices are -2% hlower today, with prices currently around $6.4104 per pound
Silver futures are down around -2.3% today, and currently trading at around $49.486 per ounce.
Platinum futures are down around -1.4% this morning, and currently trading at $1434.00, While Palladium is down by around -2.3% today, and currently trading around $945.00 per ounce.
Lithium is up around 0.3% today, and currently at CNY/T 93 800
Brent crude oil prices are up around 0.4% today, and are currently trading around $105.26, with WTI trading at $97.08 currently
Cocoa futures are down -0.3 today, and currently trading at $5435 per ton.
Coffee futures are up around 1.7% today, and currently trading at around $2.9210 per pound

Crypto Currencies:

Bitcoin prices are marginally up today, after a big drop yesterday, and currently trading at around $76 710 per coin currently
Ether prices are marginally higher this morning, and currently trading around $2249.49

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

African General News Briefs:

An explosion followed by a fire at a metallurgical plant in Cameroon, has left at least four people dead and sixteen others seriously injured. The incident took place in Douala yesterday morning at the Metafrique Steel metal processing company in the Bassa industrial zone. The explosion occurred at around 7am and fire quickly spread throughout the factory. Emergency services responded and discovered four bodies.
Aliko Dangote, president and chief executive of Dangote Industries, hosted Egypt’s Minister of Investment and Foreign Trade Mohamed Farid Saleh and a delegation in Lagos, for talks on a potential investment of $10–15 billion focused on oil refining and petrochemicals. The visit advanced discussions that began earlier in October, including a meeting with Egyptian President Abdel Fattah el-Sisi. Dangote has said Egypt could become a major exporter of refined products under the plan, which forms part of the group’s broader Vision 2030 target.
Russian President Vladimir Putin met his Ghanaian counterpart John Dramani Mahama for bilateral talks a day after the Russia-Africa summit in Moscow. Ghanaian media reported that Accra has initiated discussions with Russia’s State Nuclear Energy Corporation, Rosatom, for the establishment of the country’s first nuclear power station. President Mahama told the summit that Ghana was pursuing a diversified energy mix to secure its power grid.