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Central African Republic eyes legal framework for crypto adoption

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in Central African Republic and expedite the development of the national economy. News Own this piece of history Collect this article as an NFT Central African Republic (CAR), a developing country in Central Africa, set up a 15-member committee responsible for drafting a bill on the use of cryptocurrencies and tokenization in the region. According to Faustin-Archange Touadéra, the president of CAR, cryptocurrencies can potentially help eradicate the country’s financial barriers. He believed in creating a business-friendly environment supported by a legal framework for cryptocurrency usage. A rough translation of the official press release reads: “With access to cryptocurrencies, th...

Nigerian innovator launches first active Bitcoin Lightning node in the country

The Lightning Network has struck the earth in one of the most challenging operating environments. Lagos, the capital of Nigeria — Africa’s most populous country — welcomed a new Bitcoin Lightning Network (LN) node this week, a vital step to better connect the continent to the layer-2 payments network that sits atop Bitcoin. The node runs on an old laptop powered by a diesel generator, as Lagos regularly experiences energy and electricity blackouts. Megasley’s diesel generator and laptop running the node. Source: Megasley  In a discussion with Cointelegraph, Megasley, who operates the first Nigerian Lightning node of 2023 and the first active Lightning node in the country (other nodes are dormant), shared his vision for bringing instant, low-cost payments to Africa thanks to the LN. ”L...

Bitcoin, Sango Coin and the Central African Republic

In the spring of 2022, the Central African Republic (CAR) became the first African country to adopt Bitcoin (BTC) as a legal tender. As the second country globally to recognize Bitcoin in such a fashion, the CAR followed in El Salvador’s footsteps. El Salvador has since boasted surging tourism numbers, a resilient economy and a healthy amount of free PR since allowing its citizens to make everyday purchases with the seminal cryptocurrency. The CAR, a substantially less economically developed economy than its Central American counterpart, would hope to emulate El Salvador’s success. Despite the nation’s vast natural resource wealth, the CAR is plagued by economic mismanagement, meager private and foreign investment, and systemic governmental issues. It is one of the poorest countries on the...

The travel that changed me: Stanley Trollip

From an unplanned landing in the Namib desert to hyenas attacking wildebeest, author Stanley Trollip tells us about the travel that changed him It’s fair to say that Stanley Trollip has had an eclectic career. At various points in his life, he has been a professor, a psychologist, a pilot and an author – each a consuming role in its own right. This professional pluralism started early in life; Stanley’s time as an undergraduate took twice as long as usual due to his participation in a range of sports (cricket, rugby and field hockey) as well as his involvement in the anti-apartheid movement. Stanley Trollip Born in Johannesburg, Stanley saw first-hand the changes that swept through South Africa – a place, he says, that still feels like home though he has spent more time outside it than he ...

Fonbnk’s Michael Kimani sorts out facts on crypto adoption in Africa

The African continent has been tipped as an important market for crypto adoption due to its young population, lousy economic management by governments and lack of efficient financial infrastructure to connect the continent internally and globally.  Adoption is becoming so widespread that celebrities do not want to get left out, with several big names in the entertainment and media space working with crypto brands. In the first episode of Cointelegraph’s new podcast Hashing It Out, hosted by Cointelegraph social media specialist Elisha Owusu Akyaw, Fonbnk co-founder Michael Kimani answers questions about what crypto adoption really looks like in the face of rising hype about the continent in the media and reports. One of the continent’s “OGs,” Kimani began working with one of the first...

AAX clients storm exchange’s office in Lagos following operational halt

Nigerian customer’s of the crypto exchange AAX reportedly attacked the company’s office in Lagos and harassed its employees, in a response for the recent halt of withdrawals, according to local reports from Dec. 3.  Although it’s unclear when the assault happened, the Nigerian Blockchain Technology Association Stakeholders (SiBAN) confirmed the storm in an announcement on Nov. 28, urging angry users to be patient with the exchange’s workers, who were also impacted by the issues. SiBAN noted: “Therefore, we appeal to and discourage any dissatisfied or angry user or investor from harassing or victimizing the AAX Country Manager (Nigeria), other local staff members, and AAX ambassadors nationwide. These persons are also facing the same situation as disgruntl...

21 interesting facts about Eswatini (Swaziland)

We share the most interesting facts about Eswatini collected on our brisk but beguiling sojourn into ‘Africa’s newest kingdom’. We had been in southern Africa for nearly three weeks by the time we arrived in Eswatini, our fourth country of the trip. Having spent two weeks driving around Namibia and exploring Etosha National Park, one of Africa’s great wildlife destinations, we thought we’d seen all the African wildlife we were going to see. What could 36 hours in Eswatini possibly show us that a 17-day Namibian safari did not? Well, rhinos for starters. Loads of them. We saw no less than 13 of these magnificent creatures during our fleeting foray into the kingdom. Atlas & Boots Two white rhinos in Eswatini We visited three premier game parks on a whistle-stop road trip. It wasn’t nearl...

Self-drive Uganda: 7 routes to suit every itinerary

From three-day jaunts to two-week tours, these self-drive Uganda routes are crammed with bucket-list views Here at Atlas & Boots, some of our best memories were made while we were watching wildlife. One of our favourite experiences was our self-drive safari through Nambia, which offered close encounters with lions, leopards, cheetahs, elephants and more zebras than we could count. The 17-day trip stuck a fine balance of organised tour and independent travel. We didn’t have to concern ourselves with logistics – that was all taken care of – but still enjoyed the flexibility that comes with the open road. Gunter Nuyts/Shutterstock A self-drive safari in Uganda offers flexibility We are keen to return to the continent – next time to East Africa – to explore the savannahs and jungles o...

Sony Music Africa to Offer Record Deals to Afrochella Contest Winners

Unsigned and emerging artists in Africa will soon be able to compete for global distribution deals and record contracts with Sony Music Africa through a new collaboration between the major label and the companies behind the Afrochella Festival in Ghana. Afrochella’s parent company, Culture Management Group, and media streaming service Audiomack, are teaming up with Sony Music Africa to expand the “Rising Star Stage” competition, which previously entitled winners to a chance to perform onstage at the festival. With Sony’s involvement, up to 10 prize winners chosen from a short list of 25 will be signed to distribution deals with Sony Music Africa, which will take their music out to the world, Sony says in a press release.  The Grand Prize winner will secure an exclusive recording ...

Coinbase, Alameda-backed Mara launches African crypto wallet service

Some 2 million users in Nigeria and Kenya are set to be onboarded to a new cryptocurrency wallet backed by the likes of Coinbase Ventures and Alameda Research.  Mara is a digital financial ecosystem project that is kickstarting its journey with the launch of a cryptocurrency wallet for signed-up users in Nigeria. A portion of the waitlist will be onboarded through an invite-only process starting on Oct. 27, followed by the onboarding of users in Kenya and Ghana. The project is backed by cryptocurrency industry heavyweights, having raised $23 million in a fundraising round headlined by Coinbase Ventures, Alameda Research, Huobi and several other investors and venture capitalists. The Mara wallet will offer cryptocurrency brokerage services through its app, allowing users to buy, send, ...

Central African Republic court says new $60,000 citizenship-by-crypto-investment program is unconstitutional

According to Reuters, the Constitutional Court of the Central African Republic (CAR) said on Monday that the purchase of citizenship, e-residency and land using its government-backed Sango digital currency is unconstitutional because a nationality has no market value. Earlier in July, the CAR unveiled its Sango crypto hub to attract global crypto talent and enthusiasts, boost Bitcoin (BTC) adoption and implement new crypto regulatory frameworks. The Sango blockchain is built on top of the Bitcoin blockchain, similar to a layer-2 solution.  Part of the program includes a citizenship-by-investment program, where foreign nationals can effectively purchase citizenship in the CAR for $60,000 in crypto, with an equivalent amount of Sango tokens held as collateral and returned...

Nigeria aims for millions of new eNaira users as it increases features, targets unbanked

The eNaira, Nigeria’s central bank digital currency (CBDC), will enter the second phase of its expansion with new technology to beef up its user base, Nigerian Central Bank governor Godwin Emefiele said Thursday, speaking at the 2022 eNaira Hackathon in Abuja. The eNaira, Africa’s first CBDC, was launched in October 2021. “The eNaira is a journey, not a one-time event,” Emefiele said, adding: “We don’t have a choice but to live with the fact that we are now in a digital economy, in a digital space, where the user[s] of cash will dissipate almost to zero.” “The second phase of the project has begun and is intended to drive financial inclusion by onboarding the unbanked and underserved users […] with a target of about 8 million active users,” Emefiele continued. The CBDC has had about 840,00...