Crypto seeks regulation, market stability [Business Africa]

Crypto-currencies seeks regulation

Africa is home to the second most crypto-currency holders in the world. According to Chainalysis' 2022 Global Crypto Adoption Index, three African countries are among the top 20 countries using crypto-currencies and related services: Nigeria, Morocco and Kenya. 

While digital currencies promise to improve financial inclusion, the implementation of a regulatory framework is imperative. 

Mammadou Kwidjim Touré is our guest this week. For him, "the big challenge of a central bank digital currency will be to respect the freedoms of citizens through their digital identity on the information that can or cannot be shared." 

"The digital revolution we are witnessing will be the salvation of Africa," said Mamadou Kwidjim Touré, founder and CEO of Ubuntu Tribe.

DRC: President Félix Tshisékédi plans to revise the mining contract with China in 2008

President Félix Tshisekedi has spoken out in favour of revising the mining contract concluded in 2008 with China by his predecessor Joseph Kabila, in order to "guarantee the interests" of the Democratic Republic of Congo. 

The contract, deemed unbalanced by the Inspectorate General of Finance (IGF), involves the construction of infrastructure in exchange for the exploitation of cobalt and copper. In its report published last month, the IGF puts forward an amount of "76 billion in profits for the Chinese party against 3 billion in infrastructure for the DRC". 

South Africa: Are foreign rating agencies' reports balanced?

South African economists believe that the reports of foreign rating agencies do not reflect the true growth of the South African economy. In light of this, they argue that the major agencies - Moody's, Fitch and S&P - should include South Africa's mineral wealth as a performance indicator. 

Our correspondent in South Africa, Wandiswa Ntengento, spoke to Dr Sifiso Falala, managing director of the rating agency Sovereign Africa Rating.