Business News Today
Data Releases Raises Doubts on SA’s Economy
Yesterday saw a string of data releases in South Africa (SA) with the SA Reserve bank releasing it’s quarterly bulletin indicating the country recorded foreign direct investment outflows of 73.5 billion rand ($4.25 billion) in the second quarter of 2025, compared to inflows of 11.7 billion rand in the first quarter. This alone would be of concern however there was more to come. Stats SA, the statistics agency reported a decline in formal sector employment, with budget balance data indicating further headwinds as the National Treasury also posted a budget deficit of 38.35 billion rand.
Trade balance numbers came in at 3.97 billion rand, less than the 18.25 billion rand expected by the market. The data aligns with Fitch’s assessment in May 2025, when they cautioned that monthly deficits, such as August’s, underscore vulnerability to commodity price swings and slow growth. It further suggests the August deficit fits a pattern of persistent risks, with economists urging faster growth and spending efficiency for sustainability.
Exxon Mobil Targets South Africa for LNG Expansion
Global energy Giant Exxon Mobil is reportedly eyeing South Africa as a prime destination for liquefied natural gas (LNG) investments, leveraging the country’s strategic location and growing energy demand. On October 1, 2025, executives highlighted potential partnerships with local firms to develop import terminals and upstream projects, aiming to meet Africa’s rising power needs. This move aligns with global shifts toward cleaner fuels, potentially creating thousands of jobs and boosting GDP, though regulatory hurdles and environmental concerns remain key challenges.
African Mining Week Kicks Off in Cape Town
African Mining Week (AMW) 2025 will kickoff in Cape Town today, and is host to mining ministers from the DRC, Zimbabwe, Nigeria, and South Sudan, and representatives from the African Minerals Strategy Group. DRC Minister of Mines Louis Watum Kabamba will speak, alongside Zimbabwe’s Deputy Minister Polite Kambamura, highlighting sector reforms and lithium development. The event, from October 1-3, aims to connect global investors with African mining opportunities, featuring workshops like the Africa Finance Corporation’s session on maximising mining potential.
Breaking News Shorts:
- Kenya’s inflation rose slightly to 4.6% year-on-year in September, up from 4.5% the previous month, the statistics office said on Tuesday.The increase was chiefly driven by a rise in prices of food and non-alcoholic drinks, transport, and housing, water, electricity, gas and other fuels,
- OpenAI has announced the release of Sora 2, an audio and video generator to succeed the successor to the previous version aimed to take on social media platform TikTok. Along with the model, the company also launched a linked social app called Sora, where users can generate videos of themselves and their friends to share on a TikTok-style algorithmic feed.
- From today, South African fuel prices see mixed changes, with petrol prices increasing slightly (93 octane by 1c, 95 octane by 8c) while diesel will decrease by 8-10c, illuminating paraffin by 11-15c, and LP Gas by 17-19c, varying by region.
- For the Coffee lovers out there – today is Global Coffee Day celebrating the good stuff that keeps business functioning and awake all-hours. The day, proclaimed by Liberia’s President, encourages programs promoting fair trade, sustainability, and public education on coffee’s history and economic impact, and is recognised annually by the International Coffee Organisation.
- Nigeria’s energy grid operator has resorted to selective load shedding to prevent a nationwide blackout after electricity output fell due to a strike by oil and gas workers that disrupted fuel supplies to power plants, it said on yesterday.
Markets by Numbers
Currency markets today indicate the US dollar weakening, with the Euro trading against the US dollar at 1.17539 while the Pound is trading at 1.34537 to the US dollar. The Yen is currently trading at 147.55 to the dollar. The rand (ZAR) is static against the weaker dollar and is currently at R17.25 to the US dollar.
Commodities:
- Gold futures prices are slightly higher today, and are currently trading around $3863.64 per ounce.
- Copper prices are trading flat currently after an early spike today, with prices currently at $4.8475
- Silver futures prices have moved modulated by -0.6% today, and is currently trading around $47.935
- Platinum futures are trading lower today, and are currently trading at $1585.20, While Palladium prices are also trading -1% lower this morning and currently at $1251.50
- Brent crude oil prices are marginally higher this morning after two days of losses, and currently at $66.14, with WTI trading at $62.46
- Cocoa futures have plunged by more than -4% today, and trading around $6707.00 per ton.
- Coffee futures have lifted by over 0.5% today, and are currently at $374.20
Crypto Currencies:
- Bitcoin prices are currently trending higher today, and currently trading at $114552
- Ether prices have dropped marginally today and are currently trading around the $4143.41 mark
- $Trumpcoin is trending higher today, and currently trading around $7.36
(All prices quoted at approximately 08H00 Central African Time)
Other Headline News in Africa Today
DRC ex-President Found Guilty of War Crimes
Former Democratic Republic of Congo (DRC) President, Joseph Kabila, has been found guilty of war crimes and treason with a sentence of death in absentia. The charges arose from allegations that Kabila has been supporting the M23, a rebel group who have wreaked devastation across the country’s eastern region leaving tens of thousands dead and hundreds of thousands misplaced. Kabila was convicted on Friday, by a military court, of treason, crimes against humanity, and war crimes, including murder, sexual assault, torture and insurrection. He denied the charges, but did not appear in court to defend himself.The ex-president rejected the case as “arbitrary” and said the courts were being used as an “instrument of oppression”. His current whereabouts are unknown.
SA Ambassadors Death To be Investigated
South Africa’s Ambassador to France, and previously minister of police, Nathi Mthethwa, has been found dead near the four-star Hyatt Regency Hotel in Paris, according to French officials.Mthethwa, was reported missing by his wife on Monday evening, after a “worrying message from him”, the Paris prosecutor’s office said. The ambassador had booked a room on the 22nd floor of the high-rise hotel, whose security window was apparently forced open, it added.The circumstances around his death are unclear at this stage, and an investigation has been opened, the Paris prosecutor’s office said, adding that a duty magistrate was “going to the scene”. Mthethwa was expected to be called by the Madlanga Commission of Inquiry which is currently hearing testimony about the interference of senior government officials and politicians into police murder investigations. This arose after he was mentioned in testimony last week by KwaZulu-Natal provincial Police Commissioner Lieutenant-General Nhlanhla Mkhwanazi.
