Co-Founder of Zimbabwean Fintech Startup: ‘Everyone Has a Right to Access Funds and Financial Freedom’

Cryptocurrencies have been proven to be a financial tool that can be used to store value or make payments by those excluded from the financial system. Yet, despite this being true in many jurisdictions, many of those that might benefit from cryptocurrencies are still not using them. Regulatory Uncertainty and Ignorance There may be several […]

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Study Finds 33.4 Million Nigerian Adults Hold or Have Traded Crypto in Last 6 Months

According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months. The report attributes the growing adoption of cryptocurrencies to rising inflation and the plunging value of the local currency. Converting From Fiat to Crypto via P2P […]

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Report: Morocco Now North Africa’s Leading P2P Crypto Trading Nation

In the year 2021, Morocco, which previously announced measures restricting crypto trading, became North Africa’s leading crypto-trading nation after its peer-to-peer (P2P) trade volumes surged to $6 million. Morocco in Africa’s Top Four In 2021, Morocco’s peer-to-peer crypto trade volume of $6 million was enough to see it ranked North Africa’s top cryptocurrency trading nation, […]

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Report: Kenya Set to Scale Up Adoption of Cryptocurrencies in 2022

In his Africa crypto market predictions for 2022, Marius Reitz, the general manager for Luno in Africa, has predicted that Kenya will scale up the adoption of cryptocurrencies. To support this assertion, Reitz points to Kenya’s as position as the leader in the world’s peer-to-peer (P2P) traded volumes for the second year running. Kenya’s Booming […]

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An African Perspective on Why the World Needs Cryptocurrencies

Rising cryptocurrency use in Africa over the past few years has not only shown that digital currencies are now a vital means of moving funds across borders and between people, but that cryptocurrencies are also an important means of accessing global markets for the financially excluded. Cryptocurrency Now a Necessity Despite ongoing efforts by regulators […]

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Kenyan Banks Warn Clients Against Crypto Trading

Kenyan Banks Warn Clients Against Crypto TradingA few Kenyan banks have started sending out warning alerts to clients engaged in cryptocurrency trading to be wary of the associated risks. These warnings have reportedly been sent to clients who have “used their credit and debit cards to buy cryptocurrencies on crypto exchanges.” Crypto Trading Risks According to a local report, one of […]

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Nigerian Regulator Issues ‘Extreme Caution’ Crypto Investments Warning

Nigerian Regulator Issues 'Extreme Caution' Crypto Investments WarningNigeria’s Economic and Financial Crimes Commission (EFCC) has become the latest body to warn of risks associated with cryptocurrency investments. In a public warning, the law enforcement agency argues that investing in cryptos “is a high-risk activity as the terrain is largely unregulated and prone to fraud.” Proliferation of Scams According to a report that […]

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P2P Bitcoin Trade Volumes Surge in Kenya and Ghana but Nigeria Still Dominates

P2P Bitcoin Trade Volumes Surge in Kenya and Ghana but Nigeria Still DominatesAccording to new data, peer-to-peer (P2P) bitcoin trade volumes in Kenya and Ghana surged in Q1 of 2021, with the two countries now ranked second and third respectively. On the other hand, volumes in South Africa, which occupied second place in 2020, dropped marginally. Consequently, South Africa has now been relegated to the fourth position […]

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Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking Sector

Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking SectorA senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says his organisation’s directive only applies to the banking sector. Prohibition Only Applies to […]

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Central Bank of Nigeria Denies It Has Placed New Restrictions on Cryptocurrencies — Uses Debunked Claims to Justify New Directive

Central Bank of Nigeria Denies It Has Placed New Restrictions on Cryptocurrencies — Uses Debunked Claims to Justify New DirectiveFollowing the outcry over the Central Bank of Nigeria’s latest directive that targets cryptocurrencies, the institution has reaffirmed its stance with another statement. In the latest five-page document, the CBN insists that this directive is intended to protect the country’s financial system from the “risks” that are associated with cryptocurrencies. Debunked Claims Still, the central […]

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