Africa

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The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

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A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, … Read more

Kenya Expects to Earn $46 Million as New Tax Targeting Crypto Exchanges Comes Into Force

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The Kenya Revenue Authority (KRA) is expecting to earn up to 5 billion Kenyan shillings ($45.5 million) during the first half of 2020 from a new tax that targets cryptocurrency exchanges and other online services, according to a top KRA official. First proposed in August 2020, the digital service tax (DST) came into force on … Read more

Ghanaian Startup Bitsika Africa Processed $40 Million in Crypto Remittances in 2020, up 3,900% Year-on-Year

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Bitsika Africa, a crypto startup operating out of Ghana and Nigeria, said Monday that it processed almost $40 million in remittances in 2020, up from just under $1 million the previous year. Founder and chief executive officer Atsu Davoh said that deposits accounted for $18.87 million of the total volume, with payouts making up $17.89 … Read more

Nigeria’s Yellow Card Processes $165 Million in Crypto Remittances So Far This Year

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Nigerian crypto startup Yellow Card says it processed over $165 million in volume during the first eleven months of this year. The figure represents a growth of more than 1,840% over the amount of remittances processed in the last six months of 2019. Launched in June 2019, Yellow Card enables Africans at home and abroad … Read more