African business news: SeerBit integrates PayPal and South Africa unemployment rises

Several significant economic developments are occurring across Africa. Nigerian fintech company SeerBit has integrated with PayPal, allowing merchants in 10 African countries to accept PayPal payments at checkout alongside existing options like mobile money and bank transfers.

In Kenya, the digital used-car marketplace Peach Cars secured USD 3.7 million in debt financing from Japan Finance Corporation and Shoko Chukin Bank to expand its vehicle inspection and handover infrastructure. Additionally, Nairobi-based fintech Cloud9 has acquired the conversational commerce platform Chpter in an all-stock deal to integrate commerce capabilities into its digital banking platform.

In South Africa, the unemployment rate rose to 33.6% in the second quarter of 2026, with 8.5 million people unemployed. This increase was driven by job losses in mining, manufacturing, and social services. Concurrently, South Africa’s gross foreign exchange reserves fell to USD 73.45 billion in July 2026, the lowest level since November 2025.