African Cryptocurrency and Blockchain News Roundup for January and February 2020

We present you with a round-up of news and developments from Africa in the Cryptocurrency and Blockchain Industry during the months of January and February 2020.

Binance Nigeria Launched its Campus Ambassadorial Program

“The Binance Campus Ambassador (Nigeria) is the liaison between their campus community and Binance. They work closely with Binance and come up with interesting and resourceful engagements within their campuses as well as spread the word about Binance ecosystem and the freedom of money.”
Click here to sign up for the Binance Nigeria Campus Ambassador Program

SEC Nigeria officially Inaugurated the Fintech roadmap report submitted by Fintech Association of Nigeria for implementation

According to the roadmap here the guidelines to be implemented for Cryptocurrencies, Virtual Financial Assets (VFA) and ICOS:

  • SEC classifies crypto-currencies as Commodities and Securities.
  • SEC will be regulating Virtual Financial Assets Exchanges and develop a framework for it.
  • Equity-based crowdfunding would be regulated by the SEC (ICO, STO or IPOs).
  • SEC will issue guidelines and standards for White Papers and ICOs.
  • Develop appropriate licensing regimes for new entrants into the crowdfunding ecosystem by SEC.
  • Develop a detailed framework for VFA based economy.
  • Provide Anti-Money Laundering (AML) and Know Your Customer (KYC) Procedures.


Nigeria Based Micro Lending Platform Aella Credit Secures $10 million in Funding 

Aella Credit, a Nigerian fintech startup raises $10 million debt financing round, from HQ Financial Group (HQF), a Singapore-based private company focused in new material science, semiconductor and blockchain financial investments.

CryptoTVPlus partners with Kubitx Cryptocurrency Exchange

Leading African based crypto-focused media organization, CryptoTVPlus, has partnered with Blockchain solution company, KuBitX, the creator of the KuBitX Cryptocurrency exchange to spread education and awareness of cryptocurrency using local languages in Nigeria.

Seychelles-based MERJ Exchange Wins ‘The Leading Exchange’ Award at the 2020 Security Tokens Realized Global Awards


National Bank of Egypt Joins RippleNet Network Utilizing Blockchain Service in Remittance Service

The new agreement between the National Bank of Egypt and Ripple will enable the bank create new channels for inward remittances. It will also open up access to new markets, extending its remittance services in the Gulf region.

Currently, Egypt is the largest country in remittances recipient in Africa at $26.4 billion. It’s the fifth largest worldwide as of 2019, after India, China, Mexico, and the Philippines.

Blockstale Launches Nigeria first Bitcoin ATM Machine in Ajah, Lagos.

Blockstale Bitcoin ATM

Eastern and Southern African Trade and Development Bank (TDB) Closes a $22 million Sugar Deal Utilizing Blockchain Smart Contract Technology.

For more details click here

African Development Bank Releases Report on Top Technologies with Blockchain Included

The latest February 2020 report by the African Development Bank Group (AfDB) which assesses the business case for #4IR adoption is out and lists 6 key technologies expected to disrupt Africa. Blockchain is among them.
According to the report, here are the top six technologies by capital investment so far expected to drive big business opportunities on the continent in order of importance:

  • Internet of Things (IoT) – $110.8M
  • Big Data – $9.5M
  • Additive Manufacturing – $47M
  • Artificial Intelligence (AI) – $17.5M
  • Drones – $7.9M
  • Blockchain – $14.9M

According to the report, the blockchain space has seen $14.9 million capital investment on the continent with a 16% market growth potential by 2025.

Bitfxt Technology Secures $15M Series A Funding from Payitup Clearinghouse Ltd (UK)

As one of Africa’s fast raising Blockchain Technology Company based out of Lagos, Nigeria, we have recently secured $15M in funding from a UK syndicate of Hedge Funds and UK company, Payitup Clearinghouse Ltd (UK). Furthermore, Bitfxt has also concluded an Agreement with the syndicate to extend a $125M Revolving Margin Facility for all its traders to leverage their position for a higher gain.
for more information click here

Dash Donates 1000 Copies of ‘Digital is the Cash’ Book to CryptoTVPlus Campus BCAT

Dash​, the top digital currency for payments and local adoption through ​Dash Nigeria​, today announced the launch of a ‘Digital Cash Awareness Drive’ inclusive of distributing over 10,000 copies of ‘Digital is the Cash’ book across Nigeria, Ghana, Cameroon & Haiti in English and French languages.

1,000 copies will be donated to the ​Campus BCAT​, a project of ​CryptoTVplus​, to be distributed across 30 university libraries, BCAT clubs, & tertiary institutions in Nigeria.

Nathaniel Luz, Lead of Dash Nigeria, says this is in a bid to promote the knowledge and understanding of Digital Cash, in the barest non-technical terms possible to the mass of people. He said this is the third phase of the campaign with the previous two (2) producing ​Digital Cash academy​ in text and ​Pidgin English videos​.

First Kudi Expands Operations to Ghana


The months of January and February in the year 2020 witnessed a whole lot of impressive developments in the Cryptocurrency and Blockchain Industry in Africa. If there are news we left out in this publication please you can reach out to us on Telegram, Twitter or send an email to: