Cost an average of about 9% compared to the global average of 6.8%
Very important in Sub-Saharan Africa and a key component of economic income.
25 million expats send home more than $48 billion a year.
Sub-Saharan Africa has had the fastest growing migrant populations since 2010.
Many African countries are rapidly imposing capital controls in order to shore up their forei...
Notes for video:
Catalysts for Adoption
Exchanges building a network across the continent: Luno, Huobi, NariaEx, AltCoinTrader, Paxful, PayPlux, Quidax, AZA Group, Acoin, Ice3x, VALR, Binance, Coindirect, Remitano.
HIGH INFLATION - Over the past 20 years, the majority of African nations have suffered from high inflation rates, robbing citizens of wealth and purchasing power.
Zimbabwe for eg
Bitcoin and other crypt...
According to an announcement on Tuesday, Facebook subsidiary and Libra wallet provider Calibra has now been rebranded to Novi
The first wallet product from the firm is intended to hold Libra’s various digital currencies, once the Facebook-led initiative goes live.
Novi said still committed to helping people around the world access affordable financial services.
The digital wallet will operate as a standalone app, as well as providing interoperabil...
NOTES FOR VIDEO: most promising region for the adoption of cryptocurrencies.
combination of economic and demographic trends.
adoption is relatively low, the potential is enormous, rapid,
development is likely to become defining for the cryptocurrency industry going forward.
A young population, failing currencies and costly payments
diverse region, some key similarities and trends.
Economic problems - high inflation rates and v...
The payments system is antiquated and the way we transfer and distribute value has lots of room for improvement.
Transferring value . . quickly and cheaply . . without a third party. Just like we transfer data like emails or photos.
Payment blockchains are solving for currency volatility and settlement transaction times and cost.
Current payments companies use a digital IOU that is sent in place of actual money. With crypto t...
Sub-Saharan Africa is effectively divided into three regions with three leading countries when it comes to scale and digital commerce - West Africa (Nigeria), East Africa (Kenya), Southern Africa (South Africa). These are currently the territories that are sought after when it comes to digital commerce and payment as they have critical mass and a coming together of the elements required for successful eCommerce at scale.
Facebook launches Shops to bring more businesses online during the pandemic
Backed by shopify who already work really well with instagram
Facebook . . REACH AND OLDER AGE DYNAMIC AND ADS
Instagram . . INFLUENCERS AND YOUNG AND SOCIAL COMMERCE READY . . DESIGNERS . . DIGITAL AGE PEOPLE
Whatsapp . . CONNECTING THE WORLD WITH NO COST COMMS AND BUSINESS SUPPORT . . DSTV
ALL THAT DATA ACROSS THEM ALL . . THE POWER OF THESE BIG TECHS FURTHER E...
Africa had ANOTHER record week on global P2P markets. In all, over 13M in USD equivalent was traded across 18 African currencies and this was the first week on record where African volume exceeded Latin American volume on these P2P exchanges.
Bitcoin buying in SSA
With thanks to Matt Ahlborg on twitter and https://www.usefultulips.org/
Our services include:
Evolving payment types?
Stablecoins are a perfect development for SSA. SSA’s alternative currency is USD and to have a stablecoin that is a digital programmable representation of the dollar and can be traded and transmitted cross border makes perfect sense for easy adoption.
This is until the already high per capita holders of bitcoin, particularly South Africa, Nigeria, Ghana move from speculation to a medium of exc...
The most popular payment methods across SSA are card, mobile money and bank transfer. This is not homogeneous. It is specific to each country.
Here are the dominant payment methods in each country.
Nigeria is card and bank transfer and mobile monies (the leader being MTN Mobile Money) will accelerate because of government catalysations.
South Africa is card with a high percentage growth in debit cards and their re...