Here are some interesting news from the African Bitcoin space:

1. Ghana has the 9th highest rate for cryptocurrency ownership out of 27 countries

According to the latest Cryptocurrency Adoption Index, conducted by Finder.com, Ghana stands ninth among 26 other countries in terms of adopting cryptocurrency. Ghana stands just behind countries like Australia, Indonesia, Nigeria, Malaysia, Russia, etc., but leads in front of countries like Hong Kong, Singapore, Brazil, Norway, Canada, the United States of America, New Zealand, Germany, the United Kingdom, Japan, etc. Click here to read more.

2. Paxful’s Ray Youssef aims to build 100 schools all over the world with Nigeria being a top priority

Paxful recently announced that Nigeria is its biggest market, with over 2.5 million users and over $3.5 billion in trade volume. Ray Youssef attributes this accomplishment to the demand and entrepreneurial spirit of Africans, particularly in Nigeria, which is dealing with an unemployment rate of more than 30%, inflation of more than 20%, cash withdrawal limits, and new banknotes that will render their old money worthless. In an exclusive interview with Technext, Ray disclosed that he has a goal of building 100 schools all over the world, and his top priority is to support Nigeria and its people. Click here to read more.                                                                                                              

3. Crypto-friendly African countries are drawing attention from the IMF amid sector expansion

Between 2020 and 2021, the cryptocurrency market in Nigeria, Kenya, Tanzania, and South Africa expanded at a combined rate of 1,200 percent, reaching a market value of $105.6 billion (roughly Rs. 775 crores). The International Monetary Fund has become interested in the growth trajectory of the cryptocurrency industry in Africa (IMF). The IMF recently urged African nations to quickly enact stricter regulations for the cryptocurrency industry in a blog post. Click here to read more.

4. Bitcoin is the most popular Cryptocurrency topic in Ghana

Google Trends has shown that in the last 12 months, Bitcoin has remained the most searched cryptocurrency topic in Ghana. Click here to see the chart.

5. Zambia Testing Technology to Regulate Cryptocurrency 

According to a Zambian government minister, Felix Mutati, the Bank of Zambia and the country’s securities regulators are currently experimenting with cryptocurrency technology to regulate cryptocurrencies as part of measures to help Zambia attain an inclusive digital economy. President Hakainde Hichilema’s government is embracing cryptos, and Zambia has established itself as an investment destination. Click here to read.