Nairobi, Kenya – In a surprise move that has sent shockwaves through Kenya’s crypto community, the National Treasury has abruptly repealed the controversial 3% Digital Asset Tax (DAT) on virtual asset transfers, just nine months after its introduction. The decision, buried in the newly published Finance Act 2024 Amendment, eliminates what had become one of…
Lagos, Nigeria – In a watershed moment for African fintech, payments giant Visa has partnered with crypto platform Yellow Card to create the continent’s first regulated stablecoin payment corridor, enabling near-instant cross-border transfers across 20 African nations using USDT and USDC. The system, set to go live in Q4 2024, could slash remittance costs by…
Nairobi, Kenya – The Kenyan government has unveiled its most comprehensive cryptocurrency regulatory framework to date through the Kenya Competition (Digital Asset Markets) Rules, 2024. These draft rules – currently open for public comment – represent a seismic shift in how crypto businesses must operate, with stringent requirements that could force half of existing platforms…
Nairobi, Kenya – A KSh 17.7 billion (£100 million) UK-backed investment fund is set to be released Kenya’s startup ecosystem, aiming to back 500 high-growth ventures over the next five years. Dubbed “Ukumbi” (Swahili for “platform”), this initiative represents the largest country-specific startup fund in East Africa, but comes with strings attached that could reshape…
Zanzibar, Tanzania – This could redefine East Africa’s digital economy. The Zanzibar government has partnered with Tether (USDT issuer) to launch a sweeping blockchain initiative spanning education, payments, and regulatory innovation. The three-year deal, valued at $15 million, positions the semi-autonomous archipelago as a testbed for cryptocurrency adoption while addressing the region’s financial exclusion crisis….
