Africa Financial News

Despite the cryptocurrency market's prolonged bearish trend, some of its most ardent supporters have not been discouraged. This includes the president of the Central African Republic (CAR), who remains bullish on Bitcoin (BTC) and crypto.

Jack Dorsey are teaming up to take Bitcoin and financial education to the rapper’s childhood home. Dorsey announced the launch of Bitcoin Academy on Thursday. The financial education program will be free for residents living at the Marcy Houses, a public housing complex in Brooklyn. The program will be offered both in-person and online from June to September. It launches in the midst of a turbulent year for cryptocurrencies. After soaring to almost $69,000 in November, Bitcoin has been in freefall for most of this year, with the largest cryptocurrency tumbling as much as 63% from that all-time high. More than $200 billion in overall market value was erased in a single day after the collapse of TerraUSD in May. The Bitcoin Academy said it aims to “provide education,

In modern times of rapid globalization and digitization, technological developments have now reached such proportions that the usage of cryptocurrencies is no new phenomenon. The technology behind blockchain opens the internet for financial services by replacing trust, a fundamental component of the financial system for centuries, with transparency integrated into a decentralized network. Thereby, blockchain bears the potential to help achieve the United Nations’ Sustainable Development Goals (SDG) by empowering the unbanked, predominantly women, reducing transaction fees as well as creating an alternative source of liquidity.

The Bank of Uganda is open to the idea of cryptocurrency businesses participating in its Regulatory Sandbox, inviting members of the Blockchain Association of Uganda (BAU) to share their knowledge with the central bank.

The Central African Republic (CAR) has announced plans to proceed with its ambitious Sango Project by tokenizing access to the country’s abundant natural resources. President Faustin-Archange Touadéra posted a photograph of a statement on his official Twitter account Thursday detailing the next steps in the project. 

As regulators across the world work to adopt varying stances on crypto mining, the US state of New York and the East African country of Kenya offer two examples of how legislators can thwart or foster crypto innovation through their initiatives.

With a 1,200% increase in received crypto volume between 2020 and 2021, the accelerated adoption of digital assets in Africa has captured the attention of multiple companies and organizations looking to take part in this growing market.

Financial inclusion, accessible services and the unbanked are standard talking points in many conversations about crypto. But, the details may remain somewhat fuzzy — the people who talk about crypto are generally those already inside the financial system. There are people who are actively working to increase financial inclusion and access to services for the vast number of people who are unbanked or underserved. 

The World Bank has signalled its concerns over the Central African Republic (CAR) adopting Bitcoin (BTC) as a legal currency and says it won’t support the newly announced “Sango” crypto hub.

Shortly after approving Bitcoin (BTC) as legal tender in the Central African Republic (CAR), the local government is moving to provide the digital currency infrastructure.

As the African region continues to adopt crypto and blockchain, more venture funding flowed into the continent in 2022’s first quarter compared to the first quarter of 2021, according to a new report by blockchain-investment firm Crypto Valley Venture Capital (CV VC) and Standard Bank. 

East Africa is set to welcome a new cryptocurrency exchange backed by a formidable list of industry heavyweights looking to tap into a continent full of potential users.

The Central Bank of Nigeria (CBN) is moving ahead with plans to upgrade the country’s central bank digital currency (CBDC) to be used on a wider range of goods and services. It is also maintaining harsh crypto restrictions that cripple the country's fintech sector.

The governor of the Bank of Central African States (Banque des États de l'Afrique Centrale, BEAC) has issued a scathing letter to the Central African Republic (CAR) regarding the country’s adoption of cryptocurrencies.

Top golfers from Africa and Europe will be eyeing lucrative Bitcoin (BTC) payouts at the end of the 2022 season after a new sponsorship of South Africa’s Sunshine Tour.

Around 193 million people suffered from acute food insecurity in 2021, said the United Nations in a new report, a number that's growing at an "alarming rate".

The Central African Republic (CAR) has seemingly confirmed reports that it has adopted bitcoin (BTC) as legal tender – becoming only the second country in the world and the first African nation to do so.

The roughly five million residents of the Central African Republic, or CAR, will now reportedly be able to use Bitcoin in addition to the country's franc as legal tender. 

The Central African Republic has adopted Bitcoin as a legal currency, becoming only the second country to do so after El Salvador.

The Central African Republic (CAR) has become the center of a hot buzz in the crypto world amid various reports of it adopting Bitcoin (BTC) quite similar to El Salvador. However, contrary to popular headlines, the African nation has not adopted BTC as a legal tender, instead, it has reportedly legalized the use of cryptocurrencies in the financial markets.

Confusion reigns as reports in the international press have variously claimed that the Central African Republic (CAR) has “adopted bitcoin (BTC)” as “legal tender” – while other media outlets appear to suggest that the country has actually done nothing of the sort, and instead approved a legal framework that will legalize the use of crypto within the country.