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.
Zimbabwe
RBZ’s CBDC set to be used for transacting in a month
The bank hopes to use the CBDC to tackle hyperinflation in the country and provide an alternate store of value for Zimbabweans.
Economist urges Zimbabwean government to consider paying civil workers in gold
Zimbabwe's government has been urged to pay civil servants with gold-backed CBDC and coins amid plunging economy.
Tanzanian central bank calls for the de-dollarization of local market
The government banned the use of USD in August 2007 and again in December 2017.
RBZ finalizes P2P platform for gold-backed CBDC
The move is aimed at reducing the demand for US dollars and providing an alternative currency and store of value.
Bitcoin fraud suspect denied bail in Zimbabwe
The suspect allegedly duped an eye specialist of $457,000 worth of cryptocurrency between October 2021 and March this year.
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.