3 / 17 Relevant items tagged with #Africa

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Nigeria Receives Nearly $100,000 From Unlicensed Crypto Firms

[Oct 16, 2024 9:30 AM] The Nigerian government received nearly $100,000 from two cryptocurrency firms accused of conducting unlicensed conversions of tether (USDT) to naira and vice versa. The two Nigerian cryptocurrency firms, Paparaxy Global Ventures Limited and…

South Africa’s Tax Agency Adds Crypto to Compliance Programs

[Oct 13, 2024 3:30 AM] The South African Revenue Service (SARS) has announced plans to include crypto assets in its tax compliance programs. SARS is seeking information on crypto users and is increasing its efforts to identify and audit non-compliant taxpayers. The…

Nigerian Regulator Pledges to Fight Crypto Fraud

[Oct 9, 2024 9:45 PM] The Nigerian Securities and Exchange Commission (SEC) vows to crack down on fraud, money laundering, and market manipulation in the crypto sector. The SEC director general, Emomotimi Agama, emphasized the importance of educating investors. Lagos…

Nigeria Injects $543.5M to Shore up Naira

[Oct 9, 2024 7:30 AM] The Central Bank of Nigeria (CBN) injected $543.5 million into the Nigerian foreign exchange market between September 6th and 30th to address currency volatility. The bank attributed the volatility to high demand for imports and seasonal factors…

Luno, Zapper Partner for Crypto Payments at 31,000 Merchants

[Oct 8, 2024 8:30 AM] South African crypto exchange Luno has partnered with Zapper to enable crypto payments at over 31,000 merchants. This partnership aims to expand crypto’s use beyond investment and into daily transactions. The partnership is part of a broader…

Nigeria Introduces System to Boost Forex Market Transparency

[Oct 5, 2024 9:30 PM] The Central Bank of Nigeria (CBN) is launching a new electronic system (EFEMS) to improve transparency in the foreign exchange market. This comes as the Nigerian currency weakens. Authorized dealers must comply with existing regulations and…

All-Women AI PhD Program Launches in Africa

[Oct 4, 2024 4:30 AM] A pioneering Africa-Europe collaboration aims to train 700 African Doctor of Philosophy (PhDs) in artificial intelligence (AI) over the next decade. The first intake of this program, however, will be unique: it will consist entirely of women. This…

Ghana Launches Gold Coin Priced in Local Currency

[Sep 30, 2024 9:35 PM] Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi…

Bitget Reports 1,600% Surge in African Users

[Sep 20, 2024 12:30 PM] Bitget has seen a significant increase in African users, driven by factors like copy trading popularity and the growth of the TON ecosystem. The exchange has focused on user education and accessibility to attract users in the region. Bitget Wallet…

Mastercard, Safaricom Partner on Cross-Border Payments

[Sep 20, 2024 4:30 AM] Mastercard and Safaricom have partnered to improve payment acceptance and cross-border remittances in Kenya. The partnership will benefit over 636,000 merchants using M-Pesa and enable them to serve customers globally. This collaboration will…

Nigerian Blockchain Group Ousts President, Who Remains Defiant

[Sep 14, 2024 11:30 AM] The Stakeholders in Blockchain Association of Nigeria (SIBAN) expelled its president, Obinna Iwuno, for allegedly registering an illegal body and misusing his position. Iwuno denied these allegations and accused the SIBAN board of trustees of…

Nigerian Civil Society Groups Praise Crypto Tax Proposal

[Aug 29, 2024 3:30 AM] A coalition of Nigerian civil society organizations has applauded the plan by Zacch Adedeji, head of the Federal Inland Revenue Service, to include cryptocurrencies in the tax system. The CSOs believe this move will boost confidence in the crypto…

Experts Question Ghana VP’s Gold-Backed Currency Pledge

[Aug 21, 2024 10:30 PM] A Ghanaian banking consultant, Richmond Atuahene, has expressed concerns about Vice President Mahamudu Bawumia’s pledge to back the cedi with gold. Atuahene believes Ghana needs a stable economic environment before implementing this policy…

Bank of Ghana Unveils Proposed Virtual Asset Regulations

[Aug 20, 2024 4:30 AM] The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service…

Nigeria Aims to Include Cryptocurrencies in Tax System Overhaul

[Aug 20, 2024 12:30 AM] The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal…