Business News Today
Africa’s $300 Billion Blue Ocean Economy at Risk
African governments have been urged to bolster legal frameworks, maritime security, and international treaty enforcement as the continent’s blue economy, valued at $300 billion annually and supporting around 49 million jobs, faces threats from climate change, illegal fishing, and pollution. According to stakeholders at the 2025 Lagos International Maritime Week’s 10th International Maritime Business-to-Business Conference and Exhibition in Lagos Yesterday, the threat could displace millions in coastal communities and jeopardise jobs across fisheries, tourism, renewable energy and shipping sectors on the continent.Nigeria and other African states risk massive losses without action. The sector, drives 20% of Africa’s GDP. Enhanced cooperation could safeguard livelihoods and foster sustainable growth, with calls for tech-driven monitoring like satellite tracking to combat overexploitation and adapt to rising sea levels.
Deepseek Launches New Low Compute AI model
Researchers at DeepSeek have released a new experimental model called V3.2-exp, designed to have dramatically lower inference costs when used in long-context operations. DeepSeek announced the model with a post on Hugging Face, also posting a linked academic paper on GitHub.The most important feature of the new model is called DeepSeek Sparse Attention, an intricate system. The system uses a module called a “lightning indexer” to prioritise specific excerpts from the context window. A separate system called a “fine-grained token selection system” then chooses specific tokens from within those excerpts to load into the module’s limited attention window. Together, these systems allow the Sparse Attention models to operate over long portions of context with comparatively small server loads compared to other AI models.
Niger Launches Agrigarbal – Digital Platform for Agriculture
The new agri App has been launched in Niger. Agrigarbal, a digital platform is set to revolutionise its agriculture sector, which currently employs 80% of the working population in the country and contributes 40% of total GDP. The initiative will provide a connection for farmers to markets, weather data, and subsidies via mobile apps, aiming to boost yields by 25% amid various challenges faced by the sector. Funded via $50 million in international aid, it targets smallholders with AI-driven crop advice and supply chain tracking. Success could model scalable agritech solutions across Sahel nations, enhancing food security and export revenues.
Uncertainty Looms Over AGOA Extension
Extension of the AGOA trade deal remains in question despite various countries attempting to negotiate an extension with the US. African Exporters Businesses across 30+ African countries brace for uncertainty as the African Growth and Opportunity Act (AGOA), which enabled duty-free U.S. exports, hits the expiry date today, should no extension be announced by the US administration. Despite African envoys’ advocacy, the 25-year pact’s lapse could disrupt $10 billion in annual trade, hitting textiles and agriculture products the hardest. South Africa and Kenya, who are major beneficiaries, face export declines and job losses.
Urgent bilateral talks have emphasised economic ties, with calls for renewal to sustain supply chains and foster U.S.-Africa investment amid global trade tensions. However recent actions by both governments and ongoing cosy relationships with the likes of Russia, Iran and China as well as various domestic race based policies in South Africa have become major stumbling blocks in these trade negotiations with the US.
Breaking News Shorts:
- Anthropic has launched a new frontier AI model called Claude Sonnet 4.5, which it claims offers state-of-the-art performance on coding benchmarks. They claim Claude Sonnet 4.5 is capable of building “production-ready” applications, rather than just prototypes, representing a leap in reliability from previous AI models.
- China’s manufacturing activity shrank for a sixth month in September, an official survey showed on Tuesday, suggesting producers are waiting for further stimulus to boost domestic demand, as well as clarity on a U.S. trade deal
- China, Zambia and Tanzania have signed a $1.4 billion deal yesterday, to refurbish the Tanzania-Zambia railway, a vital route for shipping copper exports from the region, Zambia’s government said. The deal aims to rehabilitate the railway and purchase locomotives, passenger coaches and wagons.
- Mozambique’s central bank cut its main interest rate by 50 basis points to 9.75% yesterday, saying it sees inflation staying in single digits over the medium term. The Bank of Mozambique has now lowered the MIMO rate for 11 policy meetings in a row in an easing cycle that began in January 2024.
- Gold prices rose to a new record high for the second consecutive day to $3,850 per ounce today, heading for the biggest monthly gain in 14 years, as investors rushed to safe-haven assets amid mounting concerns over a looming US government shutdown and expectations of further Federal Reserve rate cuts.
Markets by Numbers
Currency markets today indicate the US dollar weakening marginally, with the Euro trading against the US dollar at 1.17313 while the Pound is trading at 1.34423. to the US dollar. The Yen is currently trading at 148.30 to the dollar. The rand (ZAR) has gained against a weaker dollar and is currently at R17.25 to the US dollar.
Commodities:
- Gold futures prices are almost 1% higher today, hitting a second fresh all-time-high in two days, and are currently trading around $3869.24 per ounce.
- Copper prices are trading flat currently after an early spike today, with prices currently at $4.8475
- Silver futures prices have moved upwards by over 0.4% today to hit a fresh14-year high, and is currently trading around $47.117
- Platinum futures are trading higher today, and are currently trading at $1621.10, While Palladium prices are also trading 0,6% higher this morning and currently at $1278.50
- Brent crude oil prices are currently trending lower today, and currently at $66.81, with WTI trading at $63.17
- Cocoa futures are lower today, and trading around $6951.09 per ton.
- Coffee futures have dropped by over -1.7% today, and are currently at $371.55
Crypto Currencies:
- Bitcoin prices are currently trending flat today after a spike yesterday, and currently trading at $113945
- Ether prices have dropped by -1% today and are currently trading around the $4174.42 mark
- $Trumpcoin is trending lower today, and currently trading around $7.48
(All prices quoted at approximately 07H40 Central African Time)
Other Headline News in Africa Today
Madagascar President Dissolves Government After Protests
President Andry Rajoelina announced the dissolution of the Madagascan government late yesterday, following days of youth-led protests over service delivery failures in essential services such as water and power. According to the United Nations says at least 22 people have been killed and more than 100 injured in the protests.b Inspired by the so-called “Gen Z” protests in Kenya and Nepal, the three days of demonstrations is the most serious challenge Rajoelina has faced since his re-election in 2023. “We acknowledge and apologise if members of the government have not carried out the tasks assigned to them,” Rajoelina said in speech on state broadcaster TVM.
The president said he wanted to create space for dialogue with young people, and promised measures to support businesses affected by looting. “I understand the anger, the sadness, and the difficulties caused by power cuts and water supply problems. I heard the call, I felt the suffering, I understood the impact on daily life,” Rajoelina said.
South African Minister Decries Free Healthcare for All Policy
South African Finance Minister Enoch Godongwana has questioned the rationality and cost of providing free public healthcare to undocumented migrants in the Southern African State, and said state departments should be reformed to curb waste to illegal immigrants. The South African Constitution, hailed as one of the most progressive globally, grants services to everyone in the country whether they are there legally or otherwise. Godongwana commented that it ; “Was a grave mistake, as legally now we cannot refuse you services.” The Minister was addressing a forum in Pretoria, Yesterday. “People must come to our country legally. Those who come here illegally, we should be sending them home. Our resources are limited.”
