News about AFRICA

News about Africa

Tanzanian President urges the nation to adopt Bitcoin for more than just P2P transactions. She says the potential of cryptos is yet to be explored by most of Africa.

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South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset Providers

South Africa’s Intergovernmental Fintech Working Group (IFWG) has a released new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Re...

South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme

New submissions by a South African regulator, the Financial Sector Conduct Authority (FSCA) and liquidators have exposed the web of lies and deceptive tactics that were used by Mirror Trading International (MTI) CEO Johann Steynberg and others to per...

Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System

Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) tradin...

36% of Nigerian Adults Are Financially Excluded: Crypto can Change this as more Africans Adapt it

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African Fintech Start-up Chipper Cash Raises $100 Million — CEO Says No Crypto Services for Nigeria

Chipper Cash, an African fintech firm that specializes in facilitating cross-border payments, recently closed a $100 million Series C funding round. Taking the lead in what is now Chipper Cash‘s third fundraising round in the past twelve months...

'Africa Is Leading Global Cryptocurrency Adoption’: Paxful CEO

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Africa is Leading in Crypto Adoption as Africans use Crypto as Store of Value to Escape Inflation

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South African Crypto Exchanges Confirm Receiving Request for Client Data From Tax Collection Body

Three leading cryptocurrency exchanges from South Africa recently confirmed receiving a request for client data from the country’s revenue collector. In a joint statement, the exchanges, (namely Altcointrader, Luno, and Valr) said this request,...

South Africa Reserve Bank Commences Retail CBDC Feasibility Study

The South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC th...

South Africa's central bank begins preliminary study for retail CBDC

The South African Reserve Bank has begun exploratory studies on central bank digital currencies. South Africa is the latest country to begin exploring the possibility...

African Crypto Exchange, Quidax Raises 7,772 BNB on the Worst Day of Crypto in Less Than 48 Hours

PRESS RELEASE. On what could be tagged as the worst day of crypto this year, African-founded exchange, Quidax, raised over 7,772 BNB from the public sale of its token, QDX. The crypto market suffered its first major dip in 2021 on Thursday, May 19, 2...

African Crypto Exchange, Quidax Raises Over $3 Million on the Worst Day of Crypto in Less Than 48 Hours

African-Founded Crypto Exchange Quidax Raises Over $3 Million in Token Sale

The QDX token sold out in less than 48 hours to illustrate the interest in crypto on the continent African cryptocurrency exchange Quidax has raised over $3 million in a token sale conducted late last week, according to news published Monday, 24 Apri...

Comparing the True Costs of Gold Mining in Africa With Those of Bitcoin Mining

When billionaire Elon Musk announced that Tesla would no longer accept bitcoin as payment for its electric vehicles, the price of the crypto asset tanked. In justifying this decision, Musk cited bitcoin mining’s inefficient use of electricity a...

African NFT Art Exhibition Featuring Portraits of Two African Royals Launched

The Museum of Modern African Art Gallery & Lifestyle (MOMAA), a platform that promotes African artworks, recently kickstarted a 30-day non-fungible token (NFT) Modern African Art Exhibition. The exhibition, which will be MOMAA’s first NFT s...

Cardano is on a mission to make a difference for 53 African Nations

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Report: Over 100,000 African Youths Have Participated in Binance’s Crypto Education Initiative

According to reports, over 100,000 African youths have taken part in Binance’s crypto and blockchain education barely a year after the learning program was launched. Dubbed the Binance Masterclass, the education initiative is aimed at equipping...

South African Crypto Holders Urged to Approach Tax Body Before It Descends on Them

An international tax expert, David Lesperance, says South Africa’s revenue collector is closing in on cryptocurrencies, and holders of these assets need to take the initiative and approach South Africa Revenue Services (SARS) before it descends...

African Founded Crypto Exchange, Quidax Partners With Popular Defi Platform, JulSwap

PRESS RELEASE. Cryptocurrency exchange Quidax officially announced a partnership with JulSwap. JulSwap is one of the biggest decentralized exchanges (DEX) on the Binance Smart Chain Ecosystem. Quidax also announced that it will be launching its ecosy...

Report: South African Taxes and Smuggling Behind Gold’s Price Distortions in Zimbabwe

Despite gold’s longstanding status as an alternative store of value, the commodity continues to experience unusual price variations in countries like South Africa and Zimbabwe. In turn, such price variances, as well as the rampant smuggling of...

Mastercard Payment Index: More Consumers in Three African Countries Plan to Use Crypto Based Payment Methods

According to a recent Mastercard payment index report, the Covid-19 related lockdowns helped spread the use of cryptocurrency in three African countries, namely Nigeria, Kenya, and South Africa. The report also reveals that a greater number of consum...

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