News about AFRICA

News about Africa

Using a Crypto Loan App to Bring Financial Services to Excluded Groups in Africa

In much of Africa, many people still lack access to basic financial services for many reasons. One of the reasons is that financial institutions have set standards or thresholds that make it impossible for low-income earners to even open a bank accou...

FBI Joins Probe Into Collapsed South African Bitcoin Ponzi Scheme

In what is seen as a boost for Mirror Trading International (MTI) investors, United States investigators are said to have joined the probe into the collapsed bitcoin scheme. According to a report, the U.S. investigators’ goal for joining this p...

South African Start-Up Aims To Shield Merchants From Crypto Price Swings

While opponents of cryptocurrencies continue to peddle the environmental damage or the terrorism funding narrative, users from countries where the majority is financially excluded see these as a breakthrough innovation. Crypto Utility Inspires Volati...

Monero Developer Arrested in US on Fraud Charges at Request of South African Government

Former lead maintainer of Monero Riccardo Spagni, aka Fluffypony, has been arrested in the U.S. and is now waiting for his extradition to South Africa where he will stand trial for fraud. Spagni described the case as “an old matter, which I hav...

FBI joins Mirror Trading probe in Africa to help recover US investor funds

The Federal Bureau of Investigation is joining the investigation into one of the largest alleged crypto scams of 2020. Investigations into the South African company M...

South Africa Bitcoin Heist: Court Grants Liquidators Authority to Track Missing Africrypt Investor Funds

A South African court has granted liquidators of the collapsed bitcoin investment firm Africrypt the powers to track down missing investor funds. Also, as part of the court decision, Africrypt liquidators will now have the authority to sell assets an...

Central Bank Governor: South Africa’s Digital Currency Study Ongoing

South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kgan...

Ghana Vice President Praises Central Bank’s CBDC Initiative, Says Digital Currencies Can Boost Intra-African Trade

The Ghanaian Vice President, Mahamudu Bawumia, has implored African governments to start exploring digital currencies as such alternatives have the potential to enhance intra-African trade. In addition, such digital currencies allow African countries...

Ghana's vice president declares Africa should embrace digital currencies

submitted by /u/NaturalWildFishOil [link] [comments]

Is This the Token That Can Change Africa’s Future? A Look Into the XTEMCoin

TE Markets, a multi-faceted firm geared towards changing the future of Africa for the better has launched an ICO for its XTEMCoin. But is it really going to do what it claims? Let’s have a look at the coin and what it offers. Not Just Another C...

South African Central Bank Warns Citizens Against Accepting Tainted Banknotes

A week after more than 1,400 ATMs in South Africa were attacked during a looting spree, the country’s central bank is now asking citizens to reject banknotes that are stained with traces of blue and green ink. Increasing Circulation of Stained...

Binance NFT Africa Trophy

Hello, i have a Binance NFT Africa trophy, i was wondering how common is it and maybe if i could sell it ? Any assistance would be appreciated submitted by /u/cuong407 [link] [comments]

Report: Tweaks to South African Tax Filing System to Result in Decreased Crypto Arbitrage

Reports from South Africa suggest that tax authorities have plugged a loophole on the online tax filing system that enabled crypto arbitrage traders to make several purchases on overseas cryptocurrency platforms using just one approval. As a conseque...

Swiss State Secretariat Helps Blockchain Incubator Firm Set Up Base in South Africa

Switzerland’s State Secretariat for Economic Affairs (SECO) is reportedly helping Crypto Valley Venture Capital (CVVC), a blockchain business incubator, set up an office in South Africa. According to SECO, this move fits with Switzerland’...

Ghana set to become first African country to pilot a CBDC

The West African nation announced its plans to pilot a central bank-backed currency (CBDC) by the end of the third quarter Ghana is on course to become the first African country to launch a domestic CBDC pilot program. The country seeks to join fello...

Africa Will ‘One Day Have a Common Currency’ Says Secretary General of African Continental Free Trade Area

The secretary-general of the African Continental Free Trade Area (AFCFTA) secretariat, Wamkele Mene, says Africa will “one day have a common currency” via a proposed “Pan-African Payment and Settlement System (PAPSS).” He adds...

5 Year prison sentence for sending Bitcoin in South Africa

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Parliament of West Africa Economic Block Cautions Against Use of Cryptocurrencies

The parliament of the Economic Community of West African States (ECOWAS) has joined the list of African organizations that have cautioned against the use of cryptocurrencies. In its warning to West Africa crypto users, the legislative body insists th...

Africa Fintech Start-up Growth: Nigeria Dominates in ‘Big Three’ Markets

According to the findings of the latest study by Disrupt Africa, the number of fintech start-ups based on the African continent grew to 576 in 2021. This figure represents a 17.3% jump from the 491 start-ups that were operating on the continent in 20...

Using Decentralized Digital IDs and Blockchain to Help Millions in Africa Get Identified

With over 1.3 billion inhabitants, Africa accounts for over 16% of the world’s population. However, the continent still falls short when it comes to providing its residents with legitimate or government-issued identification documents. As some...

South Africa Regulator Wants Mirror Trading International to Pay Millions as Penalty For Contravening Financial Sector Law

A South African regulator, the Financial Sector Conduct Authority (FSCA), has informed key figures behind Mirror Trading International (MTI) that it intends to impose a fine of $7 million against the now-defunct crypto investment company. Contravent...

South African Court Grants Final Liquidation Order Against the ‘Biggest Cryptocurrency Scam in 2020’

A South African judge, Justice Alma de Wet, has ruled in favor of granting a final liquidation order against Mirror Trading International (MTI), the country’s biggest bitcoin scam in the past year. Nevertheless, the judge postponed a ruling on...

South African Regulators Reportedly Fast-Tracking Crypto Regulatory Framework

With South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now...

Can Staking Pools Ignite Cryptocurrency Participation for People of African Descent?

Bright Enabulele, Launches the First Staking Pool for Oduwacoin (OWC) called Oduwa Pool An innovative Staking Pool for people of Africa and underserved communities around the world has been launched by the renowned Blockchain Strategist, Bright Enabu...

South African asset manager denies stealing billions from users, claims $5M was lost in hack

AfriCrypt’s founders deny running off with billions in customers funds, asserting they went into hiding after receiving death threats from “dangerous people.” Raees C...

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