The Growth of Mobile Money Transfer in Africa

Business and Finance, Business and Investment, East Africa, Finance and Economics, Headline

In 2021 the glob­al mobile val­ue stood at 1 tril­lion dol­lars. The African con­ti­nent account­ed for about 70 per­cent of the sta­tis­tics. The adop­tion of mobile mon­ey in Africa con­tin­ues to rise with Glob­al Sys­tem for Mobile Communications(GSMA) fig­ures high­light­ing an increase from 27.5 bil­lion in 2020 to 36.7 bil­lion in 2021. Mobile Mon­ey Enables Growth…

Africa Post-Covid-19

Two Areas That Can Boost Africa’s Post-COVID Development

Covid-19, East Africa, Finance and Economics, Headline, West Africa

Editor’s Note: Ear­li­er, Oscar Katusya point­ed us to a strat­e­gy that may ben­e­fit the African con­ti­nent as it deals with the COVID-19 pan­dem­ic. Today, Oscar tells us trade and pol­i­tics are some of the key aspects of this strat­e­gy.  The Agen­da 2063 To under­stand the Africa Con­ti­nen­tal Free Trade Area, we first have to be…

Presidents Ramaphosa and Ouattara ‘pleased’ to see Ukrainian grains deal signed

Finance and Economics, Google News-Africa, SpotlightLeave a comment

The Pres­i­dent of Ivory Coast, Alas­sane Ouat­tara, vis­it­ed South Africa on Friday.
Out­tara was wel­comed by his South African coun­ter­part, Pres­i­dent Cyril Ramaphosa in the cap­i­tal, Pretoria.
The vis­it coin­cid­ed with a UN and Turkey-bro­kered agree­ment to allow Ukraine and Rus­sia to export grain and fertilizers. 

“It has tak­en much too long, in my view, because that con­flict has put a stop to the import or expor­tat of grain, fer­til­iz­ers and oth­er food­stuffs like wheat to var­i­ous oth­er parts of the world. And we are there­fore pleased. That this may indeed in the end become a real­i­ty. Would this be seen as sig­nalling some­thing that could amount to the end of that con­flict? I would like to believe that, yes”, said South African Pres­i­dent Cyril Ramaphosa. 
Refer­ring to Mali, the Ivo­rian pres­i­dent reject­ed ear­li­er sug­ges­tions that his coun­try was inter­fer­ing in its neighbour. 
The accu­sa­tions were linked to the deten­tion of a group of Ivo­rian sol­diers accused of being mercenaries.
” Ivory Coast can­not afford to attempt to desta­bi­lize any coun­try and espe­cial­ly not a neigh­bor­ing coun­try (such as Mali). And they are the same peo­ples, the same pop­u­la­tion. The rela­tion­ships are close, are very close. We use the same cur­ren­cy, we use the same legal frame­work, etc. It (Mali) is a friend­ly coun­try and broth­er and sis­ter pop­u­la­tions. There­fore, there isn’t any ques­tion about us engag­ing in any attempt to desta­bi­lize”, reas­sured Alas­sane Ouat­tara, Pres­i­dent of Ivory Coast.
Dur­ing the vis­it to South Africa, the two pres­i­dents signed a num­ber of agree­ments and Ouat­tara addressed the South Africa — Ivory Coast Busi­ness Forum.

Central African Republic president launches crypto initiative following Bitcoin adoption

African News Review, Business and Investment, Finance and EconomicsLeave a comment

Faustin-Archange Touadéra, pres­i­dent of the Cen­tral African Repub­lic, has announced the gov­ern­ment will be back­ing an ini­tia­tive cen­tered around devel­op­ing the country’s blockchain infrastructure.In a Mon­day announce­ment on Twit­ter, Touadéra said the CAR gov­ern­ment would be launch­ing San­go, a cryp­to ini­tia­tive pro­posed fol­low­ing the country’s adop­tion of Bit­coin (BTC) as legal ten­der in April. Accord­ing to Sango’s web­site, the gov­ern­ment intends to launch the pro­gram dur­ing a July 3 event in which the pres­i­dent, mem­bers of his cab­i­net and indus­try experts will dis­cuss the phys­i­cal and dig­i­tal infra­struc­ture need­ed for the CAR to enter the cryp­to space, as well as the legal frame­work for the coun­try. The San­go project’s plans include build­ing a “legal cryp­to hub” aimed at attract­ing busi­ness­es and glob­al cryp­to-enthu­si­asts, expand­ing the adop­tion of Bit­coin in the coun­try, and cre­at­ing a vir­tu­al “cryp­to island” — a spe­cial eco­nom­ic zone in the meta­verse that will seem­ing­ly have an equiv­a­lent space in the phys­i­cal world. Accord­ing to San­do, the CAR plans to have a ded­i­cat­ed legal frame­work for cryp­to in place by the end of 2022.“The ambi­tious strat­e­gy to quick­ly build a suc­cess­ful econ­o­my can only rely on new tech­nolo­gies that have tak­en the world by storm and tak­en mon­ey to anoth­er lev­el, with Bit­coin as a watch­word,” said Touadéra. With #Bit­coin as #legal­tender & inspi­ra­tion, our coun­try opens a new chap­ter in its inspir­ing jour­ney towards a brighter future via #blockchain #tech. Every­one is wel­come to wit­ness the San­go Gen­e­sis Event that will be broad­cast on the 3rd of July, on https://t.co/LIQiKGhcBS. pic.twitter.com/7u6knv5f6w— Faustin-Archange Touadéra (@FA_Touadera) June 27, 2022Related: Cryp­to users in Africa grew by 2,500% in 2021: ReportTouadéra’s and the CAR’s plans to adopt cryp­to seem to be emu­lat­ing those of El Sal­vador, whose Bit­coin Law declar­ing the dig­i­tal cur­ren­cy legal ten­der went into effect in Sep­tem­ber 2021. The Latin Amer­i­can nation also announced plans to cre­ate its town Bit­coin City fund­ed by $1 bil­lion worth of BTC bonds, placed on hold as of June amid the bear market.

Libyan_new_prime_minister

After Years of Conflict, Libya Struggles for Unity

Elections and Democracy, Finance and Economics, Headline, Human Rights, North Africa, Opinion

An African Nation Con­tend­ing with Two Gov­ern­ments Ten­sions in Libya have risen again with the appoint­ment of a new Pre­mier, Fathi Bashagha, by the Par­lia­ment in Tobruk. Bashagha is now con­tend­ing for the posi­tion with Abdel Hamid Dbeibah, an UN-rec­og­nized leader. After the announce­ment, Bashagha went to Tripoli air­port to deliv­er his inau­gur­al speech as…

Coverage Shows How and Why Africa Got Cheated at COP26

Climate and the Environment, Finance and Economics, Headline, Opinion

The 2021 UN-orga­nized Cli­mate Change Con­fer­ence or COP26 was held from Octo­ber 31 to Novem­ber 13 in Glas­gow, Unit­ed King­dom.  As a region most vul­ner­a­ble to the effects of cli­mate change, cov­er­age on Africa’s agen­da at COP26 focused on cli­mate finance and jus­tice. Going into COP26, the African Group of Nego­tia­tor’s mes­sage to devel­oped nations was…

Djibouti’s Green Energy Revolution Not Getting Attention It Deserves

Finance and Economics, Headline

Uncov­er­ing the News — 04/05/21 – 04/13/21 What’s At Stake: This world­wide silence about such a big accom­plish­ment for the small East African coun­try shows once again that for many news orga­ni­za­tions, Africa only makes the news in neg­a­tive instances.   Dji­bouti, an East African nation is mak­ing it big with green ener­gy. On April 13, The…