Crypto Scammers Target Tanzanian Billionaire’s Followers, Net $1.48M

Tanzanian billionaire Mohammed Dewji’s social media account was recently hacked by crypto scammers who promoted a fake digital asset, the “Tanzania token.” Tanzania Token The social media account of Tanzanian billionaire Mohammed Dewji was recently hacked by crypto scammers, who promoted a fake digital asset to his 2.2 million followers. The scammers used a deepfake … Read more

New Stablecoin Aims to Bring Regulatory Compliance to Nigeria’s Digital Economy

A coalition of software firms recently launched Nigeria’s first compliant stablecoin, cNGN, which is now included in the Nigerian Securities and Exchange Commission incubation program. Stablecoin to Bring ‘Stability’ to Nigeria’s Digital Economy A coalition of software firms recently launched what has been described as Nigeria’s first “compliant” stablecoin, cNGN. The stablecoin, which is now … Read more

Russia and Ethiopia Take Steps Away From US Dollar as Dedollarization Grows

Countries are accelerating a shift away from the U.S. dollar in trade, with Russia and Ethiopia deepening currency ties to enhance economic stability and reduce reliance on foreign exchange. Global Shift Away From US Dollar Accelerates—Russia and Ethiopia Deepen Currency Ties Countries worldwide are increasingly shifting away from the U.S. dollar in trade, opting instead … Read more

U.S.-South Africa Tensions Escalate: Trump Threatens to Cut Aid Over Land Expropriation Act

Tensions between the United States and South Africa appeared to escalate on February 3, with South African President Cyril Ramaphosa pushing back against Donald Trump’s claims. South Africa’s Land Question The tiff between the United States and South Africa appeared to worsen on Feb. 3 after South African President Cyril Ramaphosa rebuffed Donald Trump’s threat … Read more

South African Startup Revs up Crypto Payments for Car Purchases

South African fintech startup has partnered with BTS and Serti Solutions to facilitate cryptocurrency payments for vehicles at over 1,400 car dealerships. Bridging the Gap Between Customers and Car Dealers South African fintech startup 6DOT50 recently announced a partnership with BTS and Serti Solutions to enable cryptocurrency payments for vehicles. Customers can use eight cryptocurrencies, … Read more

Trump’s ‘America First’ Policies Threaten African Currencies

The “America First” policies of the Trump administration could weaken currencies such as the Nigerian naira, leading to higher debt servicing costs. Trump Threat The “America First” policies of the Trump administration could lead to the weakening of currencies like the Nigerian naira, which in turn raises the cost of servicing debt. Furthermore, these policies, … Read more

African Regulators to Follow U.S. Lead on Crypto Regulations, Says Yellow Card CEO

Chris Maurice, CEO of Yellow Card, believes the emergence of a crypto-friendly government in the U.S. will prompt African regulators to establish rules for the sector. African Regulators Seen Following U.S. Lead The recent emergence of a crypto-friendly government in the United States is likely to prompt regulators across Africa to establish rules for the … Read more

Namibia Flips the Script: Central Bank Grants Provisional Approval to Crypto Firms

On Jan. 13, the Bank of Namibia announced provisional authorization for two entities, Mindex Virtual Asset Exchange and Landifa Bitcoin Trade, to operate as virtual asset service providers. Provisional Authorization First Step in Two-Step Licensing Process The Namibian central bank announced on Jan. 13 that it had granted provisional authorization to two entities to operate … Read more

South African Crypto Exchanges Push for Regulatory Change to Allow Pension Fund Investment

Cryptocurrency exchanges have argued that pension funds should be allowed to invest in crypto assets, enabling South Africans to benefit from the substantial growth in cryptocurrency value. South African Treasury Urged to Formulate Progress-Promoting Policies South African crypto exchanges have called on authorities to remove a prohibition barring pension funds from investing in crypto assets. … Read more