Nigeria received nearly $60 billion in crypto value in a year
Overall, Sub-Saharan Africa received $117.1 billion in crypto value between July 2022 and June 2023, according to data from blockchain analytics firm Chainalysis.
Namibia
Namibia insists cryptocurrencies are not legal tender
The Bank warns that individuals using virtual assets will take full responsibility for such transactions.
Namibia’s crypto regulatory bill signed into law
This comes a month after the country’s parliament passed the bill and forwarded for approval
Namibia passes law to regulate cryptocurrencies despite central bank’s contrary stance
Despite the new development, the Bank of Namibia still maintains that cryptocurrencies have no legal tender status in the country.
Inflation in Africa: Latest data shows worsening figures across the board
Figures show 50% of countries with available data experienced an increase in consumer prices in March.
Inflation in Africa: Many countries continue to witness historically high consumer prices
While some countries recorded improved inflation figures, the cost of living across the continent remains prohibitively high.
60% of African countries recorded lower consumer prices in December
Further contractions in consumer prices suggest that central banks’ tactics to curb inflation are productive.