IN THE NEWS | 24 February 2026 | 18:00 PM SAST

SOUTH AFRICA | KEY DEVELOPMENTS
Ramaphosa Secures Return of South Africans Recruited Into Russia–Ukraine War
President Cyril Ramaphosa confirmed that 11 of the 17 South African men allegedly lured into fighting for Russia in Ukraine are expected home shortly, following the safe return of four last week. Two remain in Russia, including one hospitalised in Moscow. The Presidency credited direct engagement with Vladimir Putin for facilitating cooperation. Investigations continue into recruitment channels and possible contraventions of South Africa’s foreign military assistance laws, reinforcing Pretoria’s calibrated diplomatic posture and its effort to secure citizen repatriation without destabilising broader geopolitical relationships.
Broken by: Reuters – https://www.reuters.com/world/africa/south-africa-says-most-group-17-men-lured-into-fighting-russia-set-return-home-2026-02-24
Related coverage: AP News – https://apnews.com/article/south-africa-zuma-daughter-russia-mercenaries-f3eb0c8fa513610d4e9785037fb7c60b

NHI Implementation Paused Pending Constitutional Court Ruling
The Presidency has halted implementation of key sections of the National Health Insurance Act following consultations with Health Minister Dr Aaron Motsoaledi, pending Constitutional Court of South Africa judgments expected in May, a move that stabilises legal exposure and tempers fiscal uncertainty while signalling that universal healthcare reform will proceed within constitutional guardrails rather than executive acceleration.

Rand Bearishness Deepens Ahead of Budget; Retail Expansion Signals Confidence
Options markets show traders most bearish on the rand in three years after its recent rally, reflecting hedging ahead of fiscal announcements and global trade volatility, with positioning suggesting concern over deficit trajectories and external shocks as budget signalling approaches. Separately, Walmart-owned Massmart confirmed plans for 21 new stores across Gauteng, KwaZulu-Natal and the Western Cape, indicating selective retail recovery momentum. Meetings Africa reported R690 million in economic impact and more than 2,600 jobs created, underscoring business tourism’s multiplier effect within a constrained growth environment.
Broken by: Bloomberg – https://www.bloomberg.com/news/articles/2026-02-24/south-africa-traders-are-most-bearish-on-rand-in-three-years

AFRICA | KEY DEVELOPMENTS
M23 Spokesperson Reportedly Killed in Eastern DRC Strike
Reports indicate M23 rebel spokesperson Willy Ngoma was killed in a Congolese army drone strike in eastern Democratic Republic of Congo, a development that, if confirmed, may recalibrate rebel command structures but risks retaliatory escalation in a region already destabilised by militia fragmentation and cross-border sensitivities.
Source: SABC (via Instagram) – https://www.instagram.com/p/DVJRqf7DLvJ

World Bank Urges Structural Reform in Malawi
The World Bank released its Malawi Economic Monitor urging fiscal consolidation, inflation control and reforms to unlock private investment, warning implicitly that without disciplined sequencing Malawi risks deepening debt stress and prolonging macroeconomic instability amid tightening global liquidity conditions.
Broken by: World Bank – https://www.worldbank.org/en/news/press-release/2026/02/24/malawi-economic-monitor-stabilizing-the-economy-to-unlock-private-investment-and-create-jobs

WORLD | KEY DEVELOPMENTS
Ukraine Marks Fourth Anniversary of Russian Invasion
Ukraine commemorated four years since Russia’s full-scale invasion, with President Volodymyr Zelenskyy declaring national resilience intact. European leaders joined observances in Kyiv as the United Nations Security Council convened a special session, while NATO Secretary-General Mark Rutte addressed allies in Brussels amid continued Russian accusations of Western escalation, underscoring a conflict entering a prolonged attritional phase with no durable settlement architecture in sight.
Broken by: Reuters – https://www.reuters.com/pictures/ukraine-remembers-fallen-four-years-after-russias-invasion-2026-02-24
AP News – https://apnews.com/article/russia-ukraine-war-anniversary

U.S. Tariffs Take Effect as Trade Risks Resurface
President Donald Trump implemented a 10% global tariff regime despite recent Supreme Court limitations on broader emergency powers. The White House reiterated diplomacy remains the preferred path on Iran, though force is not excluded, reviving inflation pass-through risk and complicating supply-chain recalibration as markets reassess trade friction and central bank response trajectories.
Broken by: Reuters – https://www.reuters.com/world/middle-east/white-house-says-trumps-first-option-iran-is-diplomacy-2026-02-24
Bloomberg (coverage) – https://www.youtube.com/watch?v=pWBlHZTHoyc

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