Breaking News Today - Wednesday 23 September 2026

• WAEMU’s GIMpay has still has not processed a single transaction yet. Yet it remains a dormant service, nineteen months after its Dakar launch, and three years after its 2023 announcement. The regional card and payment network built by GIM-UEMOA for the West African Economic and Monetary Union, has yet to process its first transaction. Integration with local finance institutions remains limited despite claims of broader partner numbers. Mobile-money accounts in the zone have grown rapidly, yet the interbank card network continues to lag. The delay has highlighted persistent challenges in translating regional payment infrastructure announcements into working systems that startups and merchants can actually use.
  
• The ABADALI EEIP FUND  is investing in supporting township and peri-urban businesses in South Africa via Bolide, a multi-utility infrastructure platform founded by Khudusela Pitje, that provides an Integrated Utilities Platform.  The development could see business and commercial properties gain more reliable access to essential infrastructure following an investment by the Abadali EEIP Fund in the Bolide Group. Bolide has combined solar energy, water infrastructure, waste management and AI-enabled security into one financed and fully managed utilities service. 

South Africa’s Bank Zero Reaches its First Break-Even Month

App-only bank Bank Zero recorded its first month in which revenue covered operating costs in August, five years after opening to the public. The lender has 275,000 direct customers and is onboarding another 500,000 through alliance-banking partnerships with fintechs and platforms, including Mukuru. It invested under R300 million to build its own platform rather than licensing an existing one. Business accounts now form 18 percent of the base. Management expects uneven earnings short-term but stronger growth in 2027 from the alliance model and pending foreign-exchange approvals. Covered by TechCabal on 22 September, drawing on earlier News24 reporting. The milestone shows a low-cost digital bank can reach break-even at modest scale and then expand via infrastructure partnerships rather than pure customer acquisition.

Safaricom - Kenya’s First ISP to Pass a million Fixed Broadband Subscribers

New Banking Regulations Proposed in Kenya  

Kenya’s Central Bank has released the draft of the newly crafted National Payment System Bill of 2026, which would require banks and payment providers to build systems capable of securely sharing customer data with licensed third parties for “open finance purposes.” The draft creates two new categories, namely; payment initiation service providers and account information service providers, who could access data with customer consent without holding funds. The Central Bank said they would set the detailed rules later. Providers would have one year to comply if the bill becomes law.

The change is set to open data currently locked inside banks and M-PESA to licensed fintechs, potentially lowering barriers for account aggregation and payment initiation services while raising compliance and competitive stakes for incumbents.

Breaking Business and Market News Shorts:  

• Brent crude futures fell below $99 per barrel today, extending its decline to a sixth consecutive session as signs of progress emerged in renewed US-Iran talks and efforts continued to restore operations at a key pipeline in Saudi Arabia. President Donald Trump said officials held a “very productive” meeting with Iranian envoys.
  
• South Africa’s composite leading business cycle indicator fell by 0.9% month-over-month in July 2026, following a revised 1.0% drop in the previous month. Six of the 10 available component time series declined, outweighing increases in the remaining four.
  

• Copper futures climbed toward $6.8 per pound this morning, reaching several new all-time highs. This was driven by persistent supply concerns and strong demand continued to drive prices higher. Metals trader Sprott Asset Management said global mined copper production could decline this year for the first time since 2017 due to supply disruptions, declining ore grades and weak output from Chile.

• Zinc prices dropped to around $3,880 per ton this morning as a stronger US dollar weighed on the market. The downside was however limited by a tightening supply volume and lower Chinese production. China’s zinc output fell 1.8% year-on-year in August, marking its first decline in nearly a year and the lowest reading since May 2025.
• Bitcoin prices have lifted around 14% over the last week and have hit an almost 8-month high today with prices above the $86 700 mark this morning. While still around 23% lower year-on year, the past month has seen a steady increase in Bitcoin and other crypto currencies.

• South Africa will be bracing for today's repo rate decision by the South African Reserve Bank (SARB), with odds now  pointing towards a 25-basis-point (bps) increase, based on forecasts among economists. At its last rate meeting in July, the policy committee surprised the market when the repo rate was kept unchanged at 7%. Subsequently a poor Q2 GDP figure and rising fuel and energy prices may tip the scale towards an increase.

Markets by Numbers 

(All prices quoted at approximately 07H30 Central African Time) 

African General News Briefs:

• President Salva Kiir of South Sudan, has dissolved the unity government formed under the 2018 peace deal, and has appointed a caretaker administration ahead of December 2026 elections. He signed off new amendments removing requirements for a permanent constitution and census. Opposition parties have rejected the changes and have raised concerns rise over Kiir’s expanded power. This has seen vice presidents arbitrarily removed while Kiir retains his office through the vote. Security has also been tightened in the capital Juba.

• One of South Africa's senior police officers, Lt Gen Shadrack Sibiya,  has been charged with sexual offences at a brief appearance at a court north-west of Johannesburg. The charges relate to allegations that Sibiya sexually groomed a 16-year-old girl and raped an 18-year-old woman. He is also facing a charge of trafficking, indicating that others may be arrested in relation to this case. The suspended deputy police commissioner, who was detained on Monday, has made no comment.