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The South African minister of international relations, Naledi Pandor, has urged Brazil, Russia, India, China and South Africa (BRICS) countries to be wary of making a hurried decision when they meet in August to discuss launching a common currency. Pandor said her country will “not shy away from discussions” that
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The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and
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Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping to perpetuate “the dominance of the
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Users of the Muun wallet, which utilizes both the bitcoin and lightning layers to process transactions, have been charged high fees, particularly those employing it for payments at South African retail chain Pick N Pay, said Kgothatso. Congestion on the mempool has meant that swaps in the Muun wallet are
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The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.” Plugging Gaps in Payment Processes Nomba, a Nigerian payments startup, has raised
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Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the “world’s first federated operating
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The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service
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The Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.” The RBZ also revealed that the gold-backed digital tokens
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Russia’s president, Vladimir Putin, has slammed the actions of the elites in the U.S. and Europe, stating that they do not always act in the best interest of their own people. “It will backfire on them,” he said. Putin also called for a cohesive response to the West’s economic aggression,
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A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement
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