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Nigerian Currency ‘Most Competitive in 20 Years,’ Says World Bank

Nigerian Currency ‘Most Competitive in 20 Years,’ Says World BankNigeria’s currency reforms under Bola Tinubu’s government have made the naira one of the most competitive in 20 years, according to World Bank chief economist Indermit Gill. The decision to float the naira and remove fuel subsidies helped prevent fiscal collapse. While the naira’s devaluation has exacerbated poverty and raised concerns about civil unrest but […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

Kenya’s Crypto Landscape Set for Major Overhaul With New Tax System

Kenya’s Crypto Landscape Set for Major Overhaul With New Tax SystemThe Kenyan Revenue Authority (KRA) is tightening its grip on cryptocurrency by proposing a real-time tax system integrated with exchanges. This system would track all crypto transactions, capturing details like time and value for tax collection purposes. Beyond real-time taxation, Kenya is considering AI and machine learning to combat tax evasion. These technologies would improve […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

Nigeria Receives Nearly $100,000 From Unlicensed Crypto Firms

Nigeria Receives Nearly 0,000 From Unlicensed Crypto FirmsThe 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 Lemskin Technologies Limited were accused of operating without a banking license. Plea Agreement The Nigerian Federal Government recently received nearly $100,000 (NGN160 […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

South Africa’s Tax Agency Adds Crypto to Compliance Programs

South Africa’s Tax Agency Adds Crypto to Compliance ProgramsThe 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 revenue collector urged taxpayers concerned about compliance to participate in the Voluntary Disclosure Program, but those already under […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

Nigerian Regulator Pledges to Fight Crypto Fraud

Nigerian Regulator Pledges to Fight Crypto FraudThe 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 State Governor Babajide Sanwo-Olu said he supports regulating the crypto sector. Investor Education Nigeria’s securities regulator vows to crack down […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

Nigeria Injects $543.5M to Shore up Naira

Nigeria Injects 3.5M to Shore up NairaThe 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. Nigeria is facing foreign exchange shortages and the government has taken various steps to counter it, including restricting […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

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

Luno, Zapper Partner for Crypto Payments at 31,000 MerchantsSouth 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 trend in South Africa, with other exchanges like Valr and supermarkets like Pick n Pay also accepting crypto […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

Nigeria Introduces System to Boost Forex Market Transparency

Nigeria Introduces System to Boost Forex Market TransparencyThe 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 complete necessary preparations before using EFEMS. Enhancing Transparency in the Foreign Exchange Market The Central Bank of Nigeria (CBN) […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

Inflation, Dollar Shortage Fuel Stablecoin Use in Sub-Saharan Africa

Inflation, Dollar Shortage Fuel Stablecoin Use in Sub-Saharan AfricaStablecoins are surging in popularity across Sub-Saharan Africa, accounting for 43% of crypto transactions compared to bitcoin’s 18.1%. This trend is driven by the instability of local currencies and limited access to US dollars. Businesses and individuals view stablecoins as a reliable way to store value and conduct international payments. Stablecoins as a Store of […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon

All-Women AI PhD Program Launches in Africa

All-Women AI PhD Program Launches in AfricaA 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 initiative is the brainchild of CORE AI, a research partnership uniting universities from both continents. The program […]

BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon