Policy & Regulations - Afrikan Heroes

Nigerian SEC Announces New Rules Governing Issuance of Digital Assets

May 16, 2022

Following the growing adoption of digital assets in Nigeria, and absence of enabling laws guiding most of it, the Nigerian securities regulator has announced new rules that govern the issuing of digital assets. The new rules also include registration requirements for platforms that offer digital assets.

The Nigerian Securities and Exchange Commission (SEC) has announced new rules that govern the issuing of digital assets as securities. The regulations also include rules on the registration requirements for digital assets offering platforms (DAOPs). Virtual asset service providers (VASPs) and digital assets exchanges are covered in the new set of rules that were recently published by the commission.

According to the new regulations, individuals or entities seeking to raise funds via a coin offering or a private sale of tokens must first submit an initial “assessment form and the draft white paper.” In the draft white paper, the commission says an entity seeking permission to operate must furnish it with “complete and current information regarding the initial digital asset offering projects, business plan and feasibility study.”

The draft document must also give a brief description of the initial digital asset offering, the value of each token, and the privileges it gives to the buyer. The use and allocation of the funds must also be stated therein, the SEC said.

Concerning white papers of initial digital asset offering projects, the commission said the document should have a disclaimer stating this does not represent an offer to sell. Once the required documentation has been filed, the SEC will review it to make a determination.

[The Commission shall] review the same within 30 days from receipt to determine whether the digital asset proposed to be offered constitutes a ‘security’ under the Investment and Securities Act 2007.

After a determination is made, the SEC will communicate this to the issuer within five days of the conclusion of the review.

Besides explaining the steps prospective issuers of digital currencies must take, the commission also lists the requirements and limits that must be adhered to. For an applicant seeking to register as a DAOP, the new rules say they must pay a filing fee equivalent to $241, a processing fee of $724, and a registration fee of $72,430.

Elsewhere in its 54-page new rules document, the commission says a DAOP “shall maintain a register of initial token holders who subscribed for the virtual assets/digital tokens during the offer period and enter into the register.” On using another platform as a host, the SEC said an “Issuer shall not be hosted concurrently on multiple DAOP or on an equity crowdfunding platform.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Bank Of Central Africa Takes First Steps To Block Central African Republic From Implementing New Crypto Law

May 15, 2022

The Central African Banking Commission (COBAC), which is the institution by which the Common Central Bank of CEMAC countries (BEAC) regulates banking activities, has taken the first step toward combating the Central African Republic ’s adoption of crypto-currencies as a trading instrument alongside the CFA franc, which is the official currency of this sub-region. The CFA franc is the currency that is used throughout the CEMAC countries.

“In the context of payment services, it is forbidden for subject institutions and their technical partners to exchange or convert, settle or cover in currency or FCFA any transactions relating to cryptocurrencies or having a link with them. This prohibition applies to all exchanges, conversions, and coverings.” ci,” a statement from the bank shared on social networks on Friday, May 13, read.

The other types of transactions that are prohibited include those that include guarantees, as well as those that involve the recognition of crypto-assets as counterparties in accounting terms.

Because of this decision, it will be more difficult to apply the law on cryptocurrencies that was recently adopted by the Central African Republic. That law acknowledges the use of bitcoins and authorizes their convertibility to the currency that is legal tender on its territory.

The choice that was made by the Central African Republic ushers in a crisis for the Central African monetary union that has never been seen before. This is especially true when considering that the presidency of the body as well as the board of directors of the Central Bank are currently held by the Central African Republic.

However, there is no shortage of justifications for the government of Faustin-Archange Touadéra to adopt Bitcoin in the country. Within this particular sub-region, it is he who is the recipient of the fewest monetary resources.

This response from the BEAC comes as some additional insight is gained into the manner in which the application of cryptocurrencies will develop in the CAR.

MARA is a pan-African platform for managing these assets, and the president receives advice from it. MARA is controlled by the American company Coinbase, which is traded on the Nasdaq in New York City.

It is also understood that the procedure ought to be carried out throughout a particular time frame.

Central African crypto bank Central African crypto bank

African Crypto Startup MARA Raises $23M, Becomes Official Partner Of Central African Republic

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Algeria Venture Signs New $10M Partnership Deal To Fund Algerian Startups

May 11, 2022

An agreement has been inked in Algiers between Algeria’s public startup accelerator Algeria Venture (A-Venture) and the Algeria Investment Fund (AIF) to provide funding to startups at various stages of development.

“The goal of this agreement is to provide financing for all stages of a startup’s life, from creation, seed, and up to acceleration that could lead to its IPO,” said Yacine El-Mahdi Oualid, Minister Delegate to the Prime Minister in charge of the Knowledge Economy and Startups, during the signing ceremony.

Here Is What You Need To Know

According to Algeria’s Minister of Finance, Abderrahmane Raouya, who was present at the signing ceremony, the AIF, through this agreement, will assist to the diversification of the sources of financing for SMEs and startups by serving as “an important incentive tool for these enterprises.”

The AIF, which was established in 2021 as a collaboration between the National Bank of Algeria (BNA) and the External Bank of Algeria (BEA), has a capital of 11 billion dinars.

Raouya claims that he will be able to “raise the funds that he will put into the financing of the national economy, particularly through startups and SMEs” year after year.

For his part, Sid Ali Zerrouki, general manager of A-Venture, stated that the signing of this deal constituted “a new qualitative step” in the assistance of startups, by providing them with funding tools “in accordance with their progress.”

“A startup requires more funding to develop and export and does not want to be satisfied with the 20 million dinars that Algeria Startups Fund (ASF) may offer it,” he claimed. “This is what justifies the signing of the deal with the AIF, which can give funding of up to 1.5 billion dinars, a first in Africa for a public fund,” he adds.

According to the manager, this arrangement would also “lay the ground” for foreign investment funds with which A-Venture has signed collaboration agreements and which are ready to spend “hundreds of millions of euros” in Algeria.

Algerian startups will thus be helped by this agreement to attain a level of maturity that will allow them to absorb these foreign investments, he stated.

El Hocine Djemmal, the general manager of AIF, believes that the launch of the fund he leads comes “at the perfect time” to “increase” and diversify the means of financing SMEs/SMIs and startups.

Algeria Venture fund startups Algeria Venture fund startups

The Strategy That Landed Transport Startup Yassir $30m In Venture Capital Outside Of Africa’s Big Four

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Here Are The New Rules For Obtaining A Startup Label In Algeria

May 9, 2022

In a news release, Algeria’s Ministry Delegate to the Prime Minister in charge of the knowledge economy and startups presented new rules for establishing the innovative character of a company and obtaining the “Startup” label in the North African country.

According to the release, to obtain the “Startup” label, the Ministry Delegate to the Prime Minister responsible for the knowledge economy and start-ups has introduced “four objective standards making it possible to establish the innovative character of the company’s activity” since the last revision of the legal framework.

“A single standard is sufficient for the company to receive the “Startup” label,” states the news release.

The qualifications include spending on research and development (if the firm spends 15% of its revenue on R&D), the caliber of the founding members (if half of the founding team possess a doctorate or higher), and intellectual property (if the company obtains an invention patent or a nationally or internationally registered program).

The final requirement is to present a prototype. According to the press release, the applicant for the label must “present at least one prototype of the submitted innovation,” which can “take several forms, such as an electronic platform in final or demo version, a prototype of the product if it is industrialized, a link to the application of the company concerned, or an illustrative video.”

In addition to tax incentives, the “Startup” title provides help from the assigned ministry as well as the option of getting investment, according to the press release. The label is requested by registering on the website www.startup.dz.

Startup label Algeria Startup label Algeria

Algeria Finally Sets Up A Commission For The Labelling Of Startups Under A New Law

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Ghana To Begin Registration Of All Ecommerce Platforms

May 4, 2022

The Postal and Courier Services Regulatory Commission (PCSRC), a Ghanaian regulatory agency under the Ministry of Communications and Digitalisation (MOCD), is taking steps to register all ecommerce platforms and provide them with a safe online profile.

The activity will be free of charge and will assist the Commission in combating e-commerce fraud in the country.

According to a statement signed by Hamdaratu Zakaria, Executive Secretary of the PCSRC, a free-to-use electronic portal has already been developed to allow members of the public to obtain directory information on all registered e-commerce traders and logistics companies (including courier services) in good standing with the PCSRC before doing business with them.

Here Is What You Need To Know

The system, according to the government, will be integrated with telecom and corporate registers to close existing gaps.

Furthermore, the statement stated that a complaint and company rating system would be centralized so that fraudulent individuals and sham enterprises would no longer be able to hide behind the current anonymity given by digital technology in order to defraud unwary members of the public.

“They will be blacklisted. This is absolutely necessary to sanitise this rapidly growing sector and provide security for the conduct of genuine online business. All of these efforts are in line with the Government of Ghana’s Digitalisation Agenda,” it said.

It claimed that the ongoing trade liberalisation regimes under the Africa Continental Free Trade Agreement (AfCFTA) and the Economic Community of West African States (ECOWAS) had complicated domestic legislation because enterprises could now trade across national borders via the internet.

According to the statement, fraudulent operatives used this to avoid local law enforcement agencies by operating from neighboring countries.

According to the statement, the PCSRC has also joined the AfCFTA Hub and Caravan projects, as well as successfully integrated its regulatory platform with the continental system.

According to the statement, the Commission would continue to collaborate with other agencies in Ghana and beyond the region to tighten the noose around digital fraudsters regardless of where they operate.

It stated that the new regime for regulating digital trading and logistics firms would be implemented in May 2022.

register ecommerce Ghana register ecommerce Ghana

Viva Technology and IFC Reveal Top 45 Most Innovative Startups In Africa

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

A New Regulatory Office Dedicated To Fintech Launched By Central Bank of West African States

May 2, 2022

The Central Bank of West African States (BCEAO) wishes to encourage emerging financial technologies, sometimes known as Fintechs, and to increase public interest in these companies. To that effect and specifically for the eight nations that share the CFA Franc as their common currency, a sub-regional office called the Bureau of Knowledge and Monitoring of (BCSF) has been established, according to a press release. According to the authority, the specific goal of this new office will be “to support the Fintech industry by establishing exchanges between the Regulator and these actors.”

As part of its mission to facilitate the development of Fintechs in the European Union, the structure will also gather and process any requests for information or meetings with regulators on these concerns that may arise. It is also required to provide a platform for exchange and debate in order to strengthen this development and make it easier to implement the necessary regulatory framework.

This introduction takes place in a situation in which numerous organizations are attempting to gain control of the financial services sector, namely financial services delivered via mobile devices. Players such as Wave, CinetPay, PayDunya, which provide money transfer services, and the Togolese startup Semoa, which is involved in the digitization of banking services, particularly with Whatsapp Banking, are among those who have “become essential in digital transformation and the promotion of financial inclusion.”

As reported in the most recent quarterly report on finance in West Africa by Baobab Insights, an information platform specializing in the continent’s venture capital market and specialized in the region’s fintechs, in the first quarter of 2022, West African fintechs mobilized 42 percent of the financing raised by start-up companies in this region.

fintech bank west african fintech bank west african

Egyptian Fintech Startup Khazna Obtains Final Approval From Central Bank Of Egypt

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Which African Country Will Adopt Bitcoin as Legal Tender Next?

April 30, 2022

Bitcoin will be adopted as legal tender in at least one more African and one Central or Latin American country in 2022, predicts the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations, the deVere Group.

The prediction from CEO Nigel Green comes as the Central African Republic (CAR) on Wednesday adopted Bitcoin as an official currency, becoming the first country in Africa and only the second in the world to do so.

A bill governing the use of cryptocurrency was adopted unanimously by parliament last week, said a statement signed by Obed Namsio, chief of staff of President Faustin-Archange Touadera.

Speaking to Reuters, Namsio said, “The president supports this bill because it will improve the conditions of Central African citizens. He added: “It’s a decisive step toward opening up new opportunities for our country.”

The CAR is one of six central African countries that share the CFA franc – a regional currency that is backed by France and pegged to the euro.

Last year, El Salvador became the first country in the world to adopt Bitcoin as legal tender, alongside the U.S. dollar.

“We can expect an increasing number of countries to follow the example of El Salvador and now the Central African Republic and adopt Bitcoin as legal tender,” says Green.

“In January I predicted that at least another three nations, besides El Salvador, would declare the world’s largest cryptocurrency legal tender in 2022. One now has already done so. I’m doubling down on this prediction. There’s a real sense that momentum is picking up.”

Green continues to say that he expects Bitcoin will be adopted as legal tender in at least one more African and one Central or Latin American country before the end of the year.

He continues: “In Africa, we believe Tanzania could be one of those countries. Its central bank said last year it was working on a presidential directive to prepare for cryptocurrencies.

Why Bitcoin Can Help

According to deVere, low-income countries have long suffered because their currencies are weak and extremely vulnerable to market changes and that triggers rampant inflation.

This is why most developing countries become reliant upon major ‘first-world’ currencies, such as the U.S. dollar, to complete transactions.

However, reliance on another country’s currency also comes with its own set of, often very costly, problems. A stronger U.S. dollar or euro, for example, will weigh on emerging-market economic prospects, since developing countries have taken on so much dollar and euro-denominated debt in the past decades.

“Adopting cryptocurrency currently is more attractive to those countries with a track record of financial instability. By adopting cryptocurrency as legal tender these countries then immediately have a currency that isn’t influenced by market conditions within their own economy, nor directly from just one other country’s economy,” Green adds.

“In nations where the current national currencies don’t work as well as they should as a means of exchange, store of value and as a unit of account; where there is unpredictable inflation and an inefficient, out-dated and costly financial system; and where GDP is reliant upon remittances from overseas, Bitcoin is increasingly seen as the answer,” the deVere CEO concludes.

“First, El Salvador, now the Central African Republic – and this is just the beginning. The pace of national adoption is now going to pick up on a global level.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Here’s What The New Law Adopting Crypto In Central African Republic Says

April 28, 2022

In a statement on Wednesday, April 27th, 2021, Obed Namsio, chief of staff to President Faustin Archange Touadera, confirmed that the president of Central African Republic, Faustin-Archange Touadéra had signed a bill into law to make crypto a legal tender alongside the CFA franc. This comes less than a week after the country’s parliament unanimously enacted the new law.

president of Central African Republic, Faustin-Archange Touadéra

“The purpose of this Law is to govern all transactions related to cryptocurrencies in the Central African Republic, without restriction, with unlimited power of issue in all its transactions and in any capacity carried out by natural or legal persons, public or private. As such, it sets the legal framework and the procedures for implementing and securing these transactions, the offences, penalties and the means of proof in this regard,” the new law provides.

Here Are The Key Provisions Of The Law

Who Does The New Law Apply To?

The new law applies to:

Companies or individuals under public or private law who trade cryptocurrencies online.

Companies or individuals under public or private law whose job is to make cryptocurrency services available to the public through information and communication technologies.

Companies or individuals under public or private law who use BLOCKCHAIN technology to make smartcontracts to obtain goods or services.

Additionally, transactions involving cryptocurrencies, regardless of their nature, whether they take the form of a purchase, a withdrawal, or a sale, are subject to the terms of this law.

However, exchanges and transactions involving cryptocurrency platforms, on the other hand, are subject to the any laws already in place applicable in commercial and civil issues, and in this case, those provided for by the appropriate laws in place.

How Are Cryptocurrency Operations Governed Under The New Law?

Under the new law, the following rules govern the operations of cryptocurrency:

It is entirely up to the market to establish the exchange rate between cryptocurrencies and the Central African Republic’s national currency, the CFA.

In the Central African Republic, all electronic transactions can be stated in legally recognized cryptocurrencies and are governed by regulations to be released by a national agency for the regulation of crypto transactions created under the law.

When cryptocurrencies are offered for the purchase or sale of goods or services, any economic Agent is obligated to accept them as a form of payment from the buyer or seller.

While the private sector is free to carry out its operations as it sees fit, the state provides alternatives that allow users to conduct transactions in cryptocurrencies and to have automatic and instantaneous conversion of cryptocurrencies into local currency in the Central African Republic, and vice versa.

Legal texts, to be released by national agency in charge of crypto regulations, define and govern the parameters and operation of automatic and instantaneous conversion and issuance alternatives as well as other financial instruments.

Cryptocurrency miners are considered independent actors in the Central African Republic and are required to declare any profits they make from their operations in legal tender.

Taxation of cryptocurrency exchanges is also mandated by the law. Furthermore, any earnings generated by the operations of cryptocurrency traders are subject to the regular taxation laws. All taxes can be paid in cryptocurrency using sites that have been recognized and authorized by the Central African Government.

Those who violate the provisions of this law may face a prison sentence ranging from ten (10) to twenty (20) years in prison as well as a fine ranging from one hundred thousand FCFA to one million FCFA (100,000 FCFA to 1,000. 000,000 FCFA). This law applies to entities that provide certain services related to virtual currencies but do not register with the National Agency for the Promotion of Virtual Currency.

Download The New Crypto Law Here

The new crypto law is available for download here: https://afrikanheroes.gumroad.com/l/downloadcryptolawcentralafricanrepublic

Why African Startup Founders Incorporate Their Startups In Foreign Countries

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Ethiopia’s National Telco Goes For Loans And Savings Services License As Telebirr Records Over 17m Users

April 27, 2022

Ethiopia ’s national telecommunications company, Ethio Telecom, has applied to the National Bank of Ethiopia for a license to begin offering loans and savings services via telebirr as part of its strategy to extend its digital financial services.

“We are working to strength the digital economy in order to enable citizens to have an easy system whilst promoting financial inclusion,” said Firehiwot Tamiru, CEO of Ethio telecom, who said Ethio telecom awaits the permit which is due soon.

Here’s What You Need To Know

Additionally, the telecommunications company recently reached an agreement with Ethiopian Airlines on the online purchase of domestic flight tickets via telebirr, ensuring the availability of a variety of online payment alternatives.

Ethiopian Airlines’ Chief Commercial Officer, Lemma Yadecha, who signed the deal on the company’s behalf, stated that the airline has difficulty processing transactions above 30,000 birr round trip. He claimed that direct sales for the given sum are now conceivable.

The payment system integration agreement inked between the two government enterprises and significant income generators for the Ethiopian government would enable Ethiopian Airlines passengers to use telebirr to purchase aircraft tickets online at any time and from any location.

“E-money service is playing a pivotal role in fostering the digital economy that the nation aspires to achieve along with improving our community’s digital payment system experience and in modernizing the existing customary cash transactions of institutions’ payment systems,” said Firehiwot.

One Year After, 17.6 million Customers For Telebirr

With only a few days remaining until the one-year anniversary of its inception in May 2021, telebirr has amassed a customer base of 17.6 million, reports Capital Ethiopia.

Over the course of the year, over 12.58 billion birr has been transferred or transacted locally; while over half a million USD (528.4 thousand dollars) has been transferred via telebirr from 34 countries in collaboration with eight international telebirr remittance partners in less than five months, the report noted.

The report notes that Telebirr today operates 353 stores and provides service to over 16 thousand merchants through 80 master agents, 64,000 agents, and over 16 thousand merchants. Telebirr is also integrated with 12 commercial banks to provide financial transfer services via the platform.

It also notes that over 52 organizations, including those that collect traffic fines, have integrated their services with telebirr to enable them to do business online, collect monthly bills, and offer a variety of online services to their consumers. Additionally, Ethio Telecom has begun the process of integrating the telebirr payment system with over 20 governmental and non-governmental organizations and will shortly officially launch the service.

“Enabling various business transaction payments ranging from making payments for small transaction to transferring large amount of money via telebirr, has significantly contributed to the adoption of digital payment system,” the firm’s CEO was quoted as saying recently.

loans and savings services Ethiopia loans and savings services Ethiopia

Interest Rate Hikes Pile the Pressure on Bitcoin

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Central African Republic Approves New Cryptocurrency Bill

April 26, 2022

The Central African Republic parliament, convening in plenary session on Thursday, April 21, 2022, enacted a new bill controlling cryptocurrency in the Central African Republic by acclamation and unanimously. This project enables the government to build an enabling environment for the country’s financial sector.

The bill was forwarded to the National Assembly’s office, which, in accordance with the provisions of article 32 of organic law n° 17.011 of March 14, 2017, on the internal regulations of the National Assembly, entrusted its substantive examination to the Joint Economy, Finance and Planning/Equipment and Communications Commission, chaired by Guy Samuel Nganatoua.

From an assessment of the grounds, it appears that this bill is part of the Central African Republic’s recovery and peacebuilding strategy, with the government intending to promote robust and inclusive growth for the benefit of development. Hence to make this happen, the Minister of the Digital Economy, Posts, and Telecommunications and the Minister of Finance and Budget introduced the bill which seeks to establish a legal framework for the Central African Republic’s cryptocurrency, specifically Bitcoin.

Central African Republic cryptocurrency

Zimbabwe Shuts Down Popular Mobile Money Service InnBucks

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh