Africa Archives - Page 11 of 20 - Cryptotimes Africa

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)…

Industry

South Africa Reserve Bank Governor: Dollar Will Not Work Without Macro-Economic Convergence

by 'Femi Michael August 31, 2023

“If the BRICS political leaders say that is where they are going... you’ll have to get a fiscal union, you’ve got to get macro-economic convergence,” the Governor said. “And importantly, you need a disciplining mechanism for countries that fall out of line…

Coins News

African Blockchain Startups Decrease

by 'Femi Michael August 31, 2023

The number of active blockchain ventures fell to 42 (7%) in 2021, and has now fallen further with 37 startups accounting for just 5.5% of the total. More than half of the startups are from Nigeria, with 21 startups representing 58% of…

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…

Bitcoin News

Angola wants to ban BTC mining

by Crypto Oracle August 30, 2023

Angola wants to ban BTC block reward mining, citing the high energy consumption at a time when more governments are scrutinizing the sector. In July, Angola’s Cabinet signed off on a draft bill that bans BTC mining. The bill is now before the country’s parliament,…

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

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…

News

Judge Cites Ripple Case in Rejecting CEL’s Security Classification in Bankruptcy Proceedings

by Crypto Oracle August 26, 2023

A bankruptcy judge has refused to determine whether CEL, the native token of Celsius, should be classified as a security, citing the ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC). Otis Davis, one major CEL token order, had previously asked…

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…