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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
De-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies
7.8.2024
Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a currency when a central bank excessively prints money...
Egyptian AI Startup Gets $2M for GCC, Africa Expansion
6.8.2024
Egyptian artificial intelligence firm Synapse Analytics has secured $2 million to expand into the Gulf Cooperation Council region and Africa. The company has partnered with major banking product providers such as AWS, Crealogix, and TUMM. Using AI to Simplify Access to Finance The Egyptian...
East African Scientists Use AI for Accurate Extreme Weather Forecasts
6.8.2024
Climate scientists in East Africa are integrating artificial intelligence (AI) into traditional weather forecasting methods to enhance the accuracy of extreme weather predictions. The region faces increasing frequency and severity of extreme weather events due to climate change. By combining...
South African Crypto Asset Marketplace Initiates $1.64 Million Capital Raise
5.8.2024
The South African decentralized cross-asset marketplace Mesh.trade has facilitated a $1.64 million (ZAR30 million) capital raise for a reverse mortgage provider. The capital raise allows the provider to offer homeowners the potential for lucrative returns while they remain in their homes. Regulated...
Nigeria Acts to Stabilize Currency with Forex Auction
4.8.2024
The Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized dealer banks to share their respective lists of outstanding forex demand by end users. Auction System Aims to Mitigate...
Canza Finance Partners With Stablecoin Issuer to Bring Efficient Financial Solutions to Africa
4.8.2024
Canza Finance has partnered with stablecoin issuer WSPN to provide secure and efficient financial solutions to users in Africa and other emerging markets. With the integration of WUSD into Canza Finance’s ecosystem, African users will be able to smoothly convert fiat currencies to the WUSD...
Ethiopian Premier Defends Currency Float Decision, Rejects Devaluation Claims
3.8.2024
The Ethiopian Prime Minister, Abiy Ahmed, has defended the decision to float the birr and insisted that this move does not amount to the devaluation of the currency. Ahmed stated that the intention is to unify the official and parallel market exchange rates. Reports suggest that Ethiopia’s decision...
Huawei Aims to Drive AI Adoption in Africa With Data Center Expansion
31.7.2024
Chinese tech giant Huawei says it will leverage its experience to help African customers. The company aims to achieve this by providing storage products and services to manage data. Huawei will also offer cloud services to support African businesses. According to the company, data centers are...
Nigerian CBDC Adoption Lags, Makes Up Less Than 1% of Currency in Use
30.7.2024
Nigeria’s central bank digital currency, known as the eNaira, was the first of its kind in Africa. However, it currently represents only about 0.36% of the total currency in circulation. Nigerian experts attribute the slow adoption of the e-naira to its perceived lack of significant benefits...
Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped
29.7.2024
Ethiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign exchange surrender requirements and lifted restrictions on certain imports. In return...