Egypt explores BRICS membership, plans to ditch US dollar for trade with BRICS nations
The country seeks to conduct international trade in the local currencies of BRICS countries.
South Africa
Sub-Saharan African currencies have plunged 8% in one year amidst soaring public debts and global uncertainties: IMF
The depreciation has contributed to rising inflation in the region. Notably, inflationary pressures do not decline when local currencies strengthen against the US dollar, IMF says.
Why Jack Dorsey’s $30 billion empire is betting big on Africa
During Block's most recent earnings call, CEO Jack Dorsey listed the Global South, which includes Africa, as one of the three trends the company is “focused on.”
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.
CBDCs, like the eNaira, are potentially risky, IMF official says
The IMF MD believes retail CBDCs may result in “unforeseeable” results for central banks.
South Africa-based USSD bitcoin transfer service launches in Ghana
The service will allow Ghanaian users without internet access to send and receive bitcoin.
Crypto exchange Roqqu receives regulatory approval to operate in South Africa
The exchange can now offer deposits and withdrawals in the South African Rand (ZAR)