Ridwan Ridwan, Author at Cryptotimes Africa

News

According to a government organisation on WorldCoin, cryptocurrencies and blockchains present monetary risks to the Kenyan economy.

by Ridwan Ridwan September 4, 2023

The Kenyan National Assembly has been informed that the WorldCoin cryptocurrency may have significant effects on the monetary policy and power of the Kenyan government. The National Computer and Cybercrimes Coordination Committee (NCCCC) Director of the nation, James Kimuyu, reportedly made the…

News

Nigeria’s Central Bank Declares a Debt to JP Morgan and Goldman Sachs of $7.5 Billion.

by Ridwan Ridwan September 2, 2023

According to the Central Bank of Nigeria's (CBN) consolidated financial accounts, which were released for the first time in seven years due to an ongoing inquiry, the CBN owes JP Morgan and Goldman Sachs $7.5 billion. The bank also reported that it…

News

Over $100 million in profits were generated by the devaluation of the Kenyan shilling in the first quarter of 2023, nearly four times higher than the previous year.

by Ridwan Ridwan September 2, 2023

Due to the decline in the local currency, the biggest banks in Kenya enjoyed a collective boost in earnings of over $100.14 million during the first half of 2023, according to sources from the region. The depreciation of the Kenyan Shilling (KES)…

News

In 2023, African Blockchain Startups Will Fall to 5.5% of Total Fintech Ventures, Up Over 17%.

by Ridwan Ridwan August 31, 2023

According to a recent analysis analysing the expansion of Africa's fintech ecosystem during the previous two years, there were fewer active blockchain companies with a fintech emphasis in Africa between 2021 and 2023. The report claims that between 2017 and 2019, the…

News

Kenya’s Payd App is the recipient of a Mozilla Innovation Grant to create a platform for payments for freelancers and creatives.

by Ridwan Ridwan August 30, 2023

One of the winners of the Mozilla Africa Innovation Challenge, which was hosted in Nairobi, Kenya, was Payd, a fintech firm that offers a payment platform geared towards independent contractors and creatives. The Mozilla Africa Mradi Innovation Challenge's main goal is to…

News

According to the most recent report, Africa received the least fintech funding in H1 2023 for cryptocurrency and blockchain projects.

by Ridwan Ridwan August 29, 2023

According to information compiled by Afridigest's Fintech Transactions Database for the first half of 2023, lending and banking dominated the continent's funding sector, with cryptocurrency and blockchain receiving the least amount. Afridigest, a well-known source for information on the African technology sector,…

News

One of the top credit card providers, MasterCard, has ended its ties with Binance and joined its main rival Visa in doing so.

by Ridwan Ridwan August 28, 2023

This change reflects an increasing reluctance on the part of traditional banking institutions to work with Binance. The business is under intense regulatory scrutiny and is dealing with general concerns about financial compliance in the bitcoin sector. Due to MasterCard's decision, cards…

News

According to the Russian President, BRICS Now Represents the Global Majority and Produces 20% of the World’s Exports.

by Ridwan Ridwan August 27, 2023

Speaking at the BRICS Business Forum in 2023, Russian President Vladimir Putin highlighted that the group of five countries—Brazil, Russia, India, China, and South Africa—has gained prominence and that its objectives now represent those of the majority of the global community. "The…

Article

Cryptocurrency Trading: A Catalyst for Africa’s Crypto Evolution

by Ridwan Ridwan August 26, 2023

Table of Contents: Introduction Background Purpose and Scope Financial Inclusion and Accessibility The Unbanked Population Cryptocurrency Trading Platforms Remittances and Cross-Border Transactions Challenges of Traditional Remittances Role of Cryptocurrencies in Remittances Hedging Against Economic Instability Economic Challenges in Africa Cryptocurrencies as a…

News

Ethiopians can now use Kenya’s Safaricom M-PESA.

by Ridwan Ridwan August 25, 2023

Three months after Safaricom Ethiopia's Mobile Financial Services, the organisation in charge of running the mobile money behemoth M-PESA in the nation, was introduced, it has now officially launched in Ethiopia. "We can't wait to launch M-PESA in Ethiopia and begin offering…