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BRICS Emerges as the World’s Largest GDP Bloc, Propelled by China’s Rapid Expansion
31.3.2023
BRICS, a set of countries grouped as an alternative to the G7, is now the world’s largest gross domestic product (GDP) bloc, taking purchasing power parity into account, according to reports from Acorn Macro Consulting. Powered By China’s growth, the group now contributes 31.5% to...
Russia talks up prospects of BRICS countries developing new currency
31.3.2023
A top Russian official has reportedly claimed that the BRICS alliance is working on creating its own currency
Crypto Exchange Bybit Partners With Innovation Growth Hub to Launch Blockchain Education Program
30.3.2023
Bybit has said it is inviting African youths that wish to attend a blockchain education training program to submit their applications. The training and educational program is expected to help the participating individuals learn the fundamentals of blockchain technology. Understanding the Blockchain...
Africa: The next hub for Bitcoin, crypto adoption and venture capital?
29.3.2023
Cointelegraph’s Elisha Owusu Akyaw shares how cryptocurrency is changing the financial landscape in Africa — and the opportunities and challenges that come with it
Bitcoin is Set to Disrupt Africa's $85 Billion Financial System – Here's What You Need to Know
27.3.2023
Bitcoin (BTC) is on its way to become the currency of choice for moving money between African countries, a new CNBC report has revealed.
The wide-ranging report, authored by CNBC’s crypto reporter MacKenzie Sigalos, came three months after the conclusion of the inaugural Africa Bitcoin Conference...
From Dorm Room to $1.75 Billion: 26-Year-Old's Crypto Exchange Takes Africa by Storm
26.3.2023
Cryptocurrency exchange Yellow Card has grown to be the largest centralized exchange in Africa since its launch in 2019, with $1.75 billion in transactions facilitated so far.
Chris Maurice and Justin Poiroux are the co-founders of Yellow Card, who launched the platform from their dorm room...
Report: Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025
26.3.2023
Regulations governing tokenized deposits and crypto assets are likely to become effective on Jan. 1, 2025, a senior fintech analyst at the South African central bank has revealed. However, according to the analyst, regulators are still trying to understand or learn the risks that come with using...
US Banking Crisis: Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor
25.3.2023
A recent review of Nigerian banks’ bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank, the governor of the country’s central bank has said. In addition, the governor said the Central Bank of Nigeria’s stringent guidelines help to create...
How blockchain can help reimagine a new state in Africa
23.3.2023
Eche Emole, the co-founder of Afropolitan, explains how the nation-state experiment has failed, especially in Africa, and how blockchain can be used to reimagine a new state
Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies
22.3.2023
As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping are currently conducting in Russia, Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam. Putin expressed that using national currencies...
Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022
22.3.2023
African countries’ debts totaling more than $20 billion were written off in the past year, Russian President Vladimir Putin said on March 20. Putin also revealed that trade between Russia and Africa had nearly reached $18 billion by the end of the year. According to the Russian leader,...
Nigeria CBDC adoption spikes as fiat currency shortage grip the nation
22.3.2023
The acute cash shortage in Nigeria was due to the central bank’s decision to replace older bank notes with bigger denominations amid rising inflation
Bitcoin and Stablecoins Will Bring Crypto Mass Adoption to Africa, Experts Say
20.3.2023
The sentiment permeated talks and fireside chats at the 2023 Blockchain Africa Conference in Johannesburg, South Africa
Africa-Focused Fintech Chipper Cash Weighs Possible Sale of Business
18.3.2023
One of Africa’s fintech giants, Chipper Cash, is said to be weighing the possibility of selling the business or bringing in new investors. According to the CEO of the FTX and Silicon Valley Bank-backed fintech startup, Chipper Cash had insignificant exposure to both SVB and Signature Bank....
Africa-Focused Venture Capital Firm Echovc Launches Blockchain Fund
17.3.2023
The Africa-focused venture capital (VC) firm, Echovc, has launched a fund that seeks to support blockchain startups on the continent. While global blockchain funding has been on a decline over the past year, Echovc founder Eghosa Omoigui claimed that investing now enables the VC to get in “at...
Developed markets lagging behind in digital payments: BlackRock CEO
16.3.2023
In a letter to investors, BlackRock CEO Larry Fink highlighted the benefits of digital assets and said developing nations like the U.S. are lagging behind in innovation
After Presidential Rebuke, Nigeria’s Central Bank Says Demonetized Naira Banknotes Still Legal Tender
16.3.2023
The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme Court ruling that extended the lifespan of the demonetized naira banknotes, followed a rebuke of the CBN...
Court Dismisses Former Monero Developer’s Bid to Have His Extradition to South Africa Declared Illegal
16.3.2023
The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue...
South African Rand Plunges to New 2023 Low Versus the US Dollar
12.3.2023
Just a few weeks after tapping its best exchange rate versus the greenback in 2023, the South African rand fell to a new 2023 low of 18.636 local currency units for every dollar on March 7. South Africa’s power shortages as well as the country’s recent grey-listing by the Financial...
Nigerian Central Bank Unveils Open Banking Guidelines
12.3.2023
The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security...