Africa Archives - Page 3 of 20 - Cryptotimes Africa

News

Regulating rapidly expanding virtual assets: Financial Action Task Force (FATF) calls on nations to create regulatory frameworks

by Crypto Oracle July 12, 2024

According to the Financial Action Task Force (FATF), scammers, terrorist organisations, and other illicit actors continue to utilise virtual assets to fund the spread of weapons of mass destruction. According to a recent study from FATF, "the DPRK continues to steal or…

News

REPORT | Egypt Comes 3rd Among the Top Funded MENA Countries in H1 2024

by Crypto Oracle July 12, 2024

In June 2024, startups in the Middle East and North Africa (MENA) area raised $116 million, a 59% decrease from May 2024. $15 million was raised by four Egyptian businesses, which is the second-highest amount after the United Arab Emirates (UAE), whose…

News Startups

APPLICATION CALL: The First-Ever Rwanda-Based, Sector-Agnostic Innovate Africa Fund Is Seeking to Invest ~$50,000 in 20 Early-Stage Startups

by Crypto Oracle July 11, 2024

With an initial $2.5 million rollout, Innovate Africa Fund, an angel investment fund, assists early-stage creators who are moving their firms from conception to product. The sector-agnostic fund, co-founded by Kristin Wilson and Christian Idiodi, intends to assist up to 20 entrepreneurs…

News

FUNDING | After seeing a 10x increase in revenue and around 500K user growth, Tanzanian fintech company Nala raises $40 million in Series A.

by Crypto Oracle July 10, 2024

Pan-African remittances startup Nala has secured $40 million in a series A round led by CEO Benjamin Fernandes, making it one of the largest in African tech history. Acrew Capital, a venture capital firm based in San Francisco, led the round. Other…

News Startups

REPORT: Investment in African Startups Drops by More Than 50% Year-Over-Year to $780 Million in H1 2024

by Crypto Oracle July 5, 2024

Between January and June 2024 (H1 2024), startups in Africa raised $780 million. This represents a 31% decrease from H2 2023 figures and an even more striking 57% reduction from H1 2023. Two thirds of this money came from stock, and the…

News

PARTNERSHIP | M-PESA Ethiopia and DahabShiil, Africa’s Oldest Remittance Operator, Reach an Agreement to Enable Remittances from the Diaspora

by Crypto Oracle July 3, 2024

Through a cooperation between Safaricom Ethiopia's M-PESA and East African money transfer service DahabShiil, Ethiopians living abroad will be able to send money straight to M-PESA mobile wallets. Through the agreement, remittances from the diaspora to Ethiopia would be made easier, resulting…

News

RULES | Zimbabwe ICT Minister: We’re working with the Tony Blair Institute and the EU to create a framework for artificial intelligence and a startup bill.

by Crypto Oracle July 2, 2024

Felix Mutati, Zambia's Minister of Science and Technology, has said that the creation of an artificial intelligence (AI) framework is now underway within the government. According to Mr. Mutati, who posted a press release on his X page, Zambia is now developing…

News

FUNDING | Breega, a French venture capital firm, has opened its first $75 million fund to invest in early-stage companies in Africa.

by Crypto Oracle June 24, 2024

Breega, a French venture capital firm, has declared the opening of Breega Africa Seed I, its first African fund, with the goal of becoming the premier early-stage investor in African entrepreneurs. To oversee its new pan-African fund, Breega Africa Seed I, the…

News

REPORT | The Most Recent AfDB Report Indicates That Africa’s Average Inflation Rose to 17% in 2023

by Crypto Oracle June 18, 2024

According to a recent analysis by the Africa Development Bank (AfDB), average consumer price inflation in Africa is predicted to have climbed by 3 percentage points to 17 percent in 2023 from 14 percent in 2022. The report stated that the increase…

Feature

Nigeria’s Crypto Future: Regulation or Roadblock?

by Terry Kunle June 5, 2024

The International Monetary Fund (IMF) has ignited a debate in Nigeria's burgeoning crypto space. Their recent recommendation for mandatory licensing of global cryptocurrency exchanges in Nigeria has drawn mixed reactions, with the CEO of NoOnes marketplace, Ray Youssef, expressing concerns about stifling…