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AI Curiosity Explodes: South Africa, Nigeria, and Kenya Embrace the Technology
25.8.2024
During the first half of 2024, Google Search trends revealed a significant rise in interest in artificial intelligence (AI) in South Africa, Nigeria, and Kenya. Interest in AI grew by 150% in Kenya, 130% in Nigeria, and 120% in South Africa compared to the same period in 2023. Kenya ranked fourth...
Nigerian Central Bank Affiliate Partners With Blockchain Startup Zone to Boost Payments
24.8.2024
The Nigeria Inter-Bank Settlement System (NIBSS) has partnered with Zone, a decentralized payment infrastructure company, to improve its payment services. NIBSS will use Zone’s blockchain technology to streamline its Payment Terminal Service Aggregation (PTSA) operations. Both NIBSS and Zone...
Binance Launches Mobile Money Feature for Crypto Transactions in Africa
23.8.2024
Crypto exchange Binance has launched its One Click Buy and Sell (OCBS) service in Africa, enabling users in Ghana, Tanzania, Uganda, and Zambia to buy and sell cryptocurrencies via mobile money accounts. This initiative aims to enhance financial inclusion, particularly for the unbanked...
Lack of Cohesion Hinders AI Adoption in Africa, NEPAD Boss Says
22.8.2024
Nardos Bekele, CEO of NEPAD, believes AI can significantly benefit Africa by addressing various challenges and accelerating progress towards Agenda 2063. Although AI offers potential improvements in sectors like health, education, and agriculture, challenges such as fragmented digital...
Experts Question Ghana VP’s Gold-Backed Currency Pledge
22.8.2024
A Ghanaian banking consultant, Richmond Atuahene, has expressed concerns about Vice President Mahamudu Bawumia’s pledge to back the cedi with gold. Atuahene believes Ghana needs a stable economic environment before implementing this policy. John Gatsi, a dean at the University of Cape Coast...
Bank of Ghana Unveils Proposed Virtual Asset Regulations
20.8.2024
The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service providers (VASPs) will be required to register and meet...
Nigeria Aims to Include Cryptocurrencies in Tax System Overhaul
20.8.2024
The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS...
Nigeria Planning to Present Law to Tax Crypto by September: Report
19.8.2024
Nigeria's Federal Inland Revenue Service (FIRS) plans to bring a bill for taxing the crypto industry to parliament by September, news outlet Punch Nigeria reported on Saturday
Mastercard and Scale Partner to Accelerate Fintech Deployment in Africa
18.8.2024
Mastercard, the American multinational financial giant, recently revealed it has partnered with the fintech firm Scale to accelerate the deployment of fintech firms in Africa and the Middle East. Amnah Ajmal praised the partnership with Scale, saying it moves her organization closer to its goal...
Nigeria Seizes $37.5M in Digital Assets After Court Grants Freezing Order
16.8.2024
The Nigerian government has seized approximately $37.5 million in digital assets from the organizers of the Endbadgovernance protests. The funds were frozen by a court order based on a claim by the Economic and Financial Crimes Commission, which alleged that the money was linked to money laundering...
South Africa’s new AI framework sets foundation for tech leadership
16.8.2024
As stakeholder consultations proceed, the feedback gathered will be instrumental in shaping a robust and effective AI policy
South Africa Unveils National AI Policy Framework, Seeks Stakeholder Feedback
15.8.2024
South Africa has published a national policy framework for artificial intelligence (AI) and is seeking feedback from stakeholders. This framework is the first step towards developing a comprehensive national AI policy. It aims to foster a robust AI ecosystem through coordinated efforts in research...
BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert
14.8.2024
The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble, Indian rupee, and Chinese yuan. He underscored...
Tether Partners With Crypto Firm to Boost Blockchain Education in South Africa
11.8.2024
Stablecoin issuer Tether Holdings Ltd. recently announced a partnership with a crypto payments provider to advance blockchain education in South Africa. The collaboration aims to both demonstrate the benefits of stablecoin payments and build trust in digital financial solutions. Building Trust...
African Union greenlights AI adoption across member states
11.8.2024
The strategy aims to fast-track AI development and adoption in Africa, driving innovation and growth that aligns with Nigeria’s digital transformation goals
Nigerian Files Lawsuit to Overturn Crypto Ban, Seeks BTC Commodity Status
11.8.2024
A Nigerian bitcoin proponent has launched a lawsuit challenging government restrictions on owning, using, and trading digital assets. The proponent said the lawsuit seeks to remove the blockade on cryptocurrency exchanges, ensuring all Nigerians have unrestricted access. Crypto Restrictions Deny...
Nairobi Securities Exchange, Valour Sign MOU to Enable Trade of Digital Asset ETPs in Africa
8.8.2024
Valour Inc. has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and Sovfi Inc. to facilitate the issuance and trading of digital asset exchange-traded products in Africa. The NSE is hopeful the collaboration will result in better product offerings and a broader...
Zimbabwe to Unveil De-Dollarization Roadmap, Says Government Official
8.8.2024
The Zimbabwean Cabinet has approved a de-dollarization roadmap outlining “modalities to operationalize the Zig currency as legal tender for use in the economy.” Zimbabwean officials have set early 2026 as the new deadline for making the Zig the country’s sole currency. The central bank...
Why crypto stakeholders see bright future for prediction markets in Africa
7.8.2024
The combination of technological advancements, cultural factors, and increasing financial diversification suggests that decentralized prediction markets could thrive on the continent
Why crypto stakeholders see bright future for prediction markets in Africa
7.8.2024
The combination of technological advancements, cultural factors and increasing financial diversification suggests that decentralized prediction markets could thrive on the continent