IN THE NEWS | 09 February 2026 | 18:00 PM SAST

SOUTH AFRICA | KEY DEVELOPMENTS

Platinum Volatility Signals Tightening Supply, Not Collapse
South African platinum producer Sibanye Stillwater has warned of continued price volatility but ruled out a return to previous cyclical lows, citing constrained global supply and limited new investment. The commentary comes amid fragile global growth signals and renewed investor caution across commodities.

What happened
Sibanye Stillwater said platinum prices remain volatile but structurally supported, with supply tightness limiting downside risk.

Why it matters
Platinum is a strategic export for South Africa. Sustained price stability supports mining employment, fiscal revenues, and balance-of-payments resilience.

Details
Executives pointed to declining mine output globally and rising industrial demand. Analysts remain divided on near-term pricing amid macro uncertainty.

Broken by
Reuters – https://www.reuters.com

Additional reporting
Business Day – https://www.businesslive.co.za

BRICS Frictions Emerge Over Iran Naval Drills
Pretoria has initiated an internal review following Iran’s participation in recent BRICS naval exercises, after domestic and U.S. criticism raised concerns about alignment and strategic signaling.

What happened
South Africa expressed unease over Iran’s role in BRICS-linked naval drills, prompting an internal inquiry.

Why it matters
The episode exposes fault lines within BRICS and complicates South Africa’s balancing act between strategic autonomy and Western partnerships.

Details
Officials emphasized non-alignment, while opposition figures questioned transparency and risk exposure.

Broken by
Al Jazeera – https://www.aljazeera.com

AFRICA | KEY DEVELOPMENTS

Africa Faces $90bn Debt Wall in 2026
Ratings agency S&P Global warned that African sovereigns face a concentrated $90 billion debt repayment burden in 2026, with Egypt, Angola, South Africa, and Nigeria most exposed.

What happened
S&P Global Ratings issued an alert on looming African sovereign debt maturities.

Why it matters
Refinancing risks could force austerity, asset sales, or IMF engagement across multiple economies.

Details
Higher global rates and geopolitical fragmentation are narrowing funding options for frontier markets.

Broken by
S&P Global Ratings – https://www.spglobal.com

Nigeria Advances N58.47 Trillion Budget Process
Nigeria’s Senate held public hearings on the 2026 Appropriation Bill as fiscal pressures mount amid currency and subsidy reforms.

What happened
The Senate opened public consultations on the 2026 budget framework.

Why it matters
Budget credibility is central to Nigeria’s reform narrative and investor confidence.

Details
Lawmakers signaled scrutiny of debt servicing, social spending, and infrastructure allocations.

Broken by
Voice of Nigeria – https://von.gov.ng

WORLD | KEY DEVELOPMENTS

Japan Election Landslide Signals High-Spend Turn
Prime Minister Sanae Takaichi secured a supermajority in a snap election, clearing the path for tax cuts and a record supplemental budget.

What happened
Japan’s ruling LDP won decisively, expanding its parliamentary dominance.

Why it matters
Aggressive fiscal stimulus may weaken the yen and reshape Asian trade dynamics.

Details
Currency officials hinted at possible intervention to curb volatility. Debt sustainability concerns persist.

Broken by
CNBC – https://www.cnbc.com
Reuters – https://www.reuters.com
The Asahi Shimbun – https://www.asahi.com

Markets: Records and Ruptures
The Dow Jones hit a record 50,115, while Korean equities whipsawed on foreign selling and U.S. software stocks sold off sharply.

What happened
Global markets delivered mixed signals despite U.S. index highs.

Why it matters
Divergence suggests late-cycle fragility, particularly around AI-linked valuations.

Details
Chipmakers led Asian declines; U.S. tech faced reassessment on earnings durability.

Broken by
Reuters – https://www.reuters.com
Washington Post – https://www.washingtonpost.com

AI Capital Race Accelerates
Apollo Global Management is nearing a $3.4 billion funding deal with Elon Musk’s xAI, while OpenAI reported renewed double-digit monthly growth for ChatGPT.

What happened
Major capital commitments signaled escalation in AI infrastructure investment.

Why it matters
The AI arms race is shifting toward compute, power, and scale advantages.

Details
Energy demand, market concentration, and governance risks remain unresolved.

Broken by
CNBC – https://www.cnbc.com
The Information – https://www.theinformation.com

SPORTS | KEY DEVELOPMENTS

Super Bowl 60 Sparks Culture Debate
The Seattle Seahawks defeated the New England Patriots, while competing halftime narratives ignited controversy over politics and representation.

What happened
Alternative and official halftime shows drew polarized reactions and massive online viewership.

Why it matters
U.S. sports continue to act as cultural and political battlegrounds.

Details
A Turning Point USA event drew 6.1 million YouTube viewers.

Broken by
Associated Press – https://apnews.com
Sports Business Journal – https://www.sportsbusinessjournal.com

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