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REPORT | Because to Clear Regulations, Seychelles accounted for the majority of venture capital funding given to African blockchain startups in 2023.

by Crypto Oracle July 18, 2024

In 2023, venture capital funding for blockchain firms in Africa was $135.4 million, a 72% decrease from the previous year [2022]. Ultimately, just 6.1% of the $2.2 billion raised that year [2023] went to businesses on the continent in the blockchain space;…

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MILESTONE | According to Ethiopia’s Leading Telco, Over $44 Billion Has Been Transacted Through TeleBirr Since Its Introduction in 2021

by Crypto Oracle July 17, 2024

Leading Ethiopian telecom provider Ethio Telecom reported a number of encouraging results on July 10, 2024, including an 8.9% rise in subscribers from the same time previous year [2023], reaching 78.3 million. In comparison to the results of the previous year [2022/2023],…

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REGULATION | As gold reserves increase by 30% in just 100 days, the governor of the Zimbabwe Reserve Bank declares, “We are on a De-Dollarization Journey.”

by Crypto Oracle July 17, 2024

John Mushayavanhu, the new governor of the Reserve Bank of Zimbabwe, reports that the nation's gold reserves now total $370 million, up 30% over the previous 100 days. During my 100 days in office, we have added almost 30% to those reserves.…

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Jambo and Tether Expand to Solana to Provide Blockchain Mobile Technology to Developing Economies

by Crypto Oracle July 16, 2024

Jambo, the largest web3 mobile infrastructure connecting emerging nations to the blockchain, said today that it and Tether would be expanding to the Solana blockchain to provide emerging regions with blockchain-enabled banking and educational innovations. The JamboPhone, a $99 web3 smartphone, is…

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Report: To counteract the risks associated with the declining foreign reserves, the Bank of Uganda plans to purchase gold domestically.

by Crypto Oracle July 16, 2024

According to the Bank of Uganda (BOU), it has started a Domestic Gold Purchase Programme to protect against "risks in the international financial markets" and to mitigate the country's diminishing foreign exchange reserves. The bank stated in its 2023/2024 State of the…

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OPINION VIEW | Kenya May Have Just Begun the Pan-African Trade Revolution

by Crypto Oracle July 15, 2024

By Ray Youssef, CEO of NoOnes, a P2P marketplace I never imagined that a few days later, I would be fleeing water cannons and tear gas canisters on the streets of Nairobi, Kenya, when I travelled there with some of the NoOnes…

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MILESTONE | Africa-Focused Digital Identity Provider, SmileID, Doubles Identity Verification Checks to 150 Million in Just One Year

by Crypto Oracle July 15, 2024

Smile Identity, an Africa-focused identity verification solutions provider, has had 150 million identity verification checks effected on its technologies, doubling from 75 million a year ago. “We’re accelerating at an unprecedented pace, thanks to our amazing customers, partners, and team. As…

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LIST | Nigeria’s Top 10 Lending Apps with Over a Million PlayStore Downloads

by Crypto Oracle July 13, 2024

he surge of companies operating in Nigeria’s digital lending sector has drawn attention to concerning trends like aggressive tactics for loan recovery such as harassment and defamation. Due to this, the Federal Competition and Consumer Protection Commission (FCCPC) has worked with other…

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REGULATION | U.S. Lawmakers Demand Release of Binance Official as Nigeria Announces Commencement of Tax Evasion Trial

by Crypto Oracle July 13, 2024

Local sources state that two US Congressmen have asked the US House of Representatives Committee on Foreign Affairs to release Tigran Gambaryan, the Head of Financial Crime Compliance at Binance, in a resolution they presented. The politicians, Reps. Rich McCormick of Georgia…

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…