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Weekly Roundup: Binance Partners with Women in Tech to Offer Free Blockchain Courses in Africa & More



Crypto accounting

In this week’s news roundup, you’ll read about Binance’s Charity and Women in Tech partnership to train women in vulnerable parts of Africa, Luno’s partnership with South Africa’s rugby captain in a new cryptocurrency education campaign, CAR’s court rejection of the use of Sango Coin to purchase CAR citizenship, and more.

Binance Charity and Academy partners with Women in Tech to Offer Free Blockchain Courses for Rural Communities in Africa

Binance Charity, the philanthropic arm of Binance, has announced a flagship global partnership with Women in Tech, that will offer educational courses to 2,800 women from vulnerable communities across Africa and Brazil.

Binance Charity will donate $250,000 BUSD for a six-month project to empower women with the knowledge and skills to thrive in a Web3 future. The first courses will take place in Cape Town, South Africa, and Rio De Janeiro, Brazil, in October of this year. The partnership will help close the gender gap in tech, which has continued to widen despite the blockchain market being expected to grow from $4.93 billion in 2021 to $200 billion by 2028.

Binance believes the future of crypto should be built by all, not the few, so we’re creating certified courses and removing financial barriers for women, especially those from vulnerable communities, to study and train. It is important to us at Binance and Women-in-Tech that quality blockchain education, innovation, and research opportunities are within everyone’s reach,” said Helen Hai, VP of Binance and Head of Binance Charity.

Courses will be offered in classes of 25 to young women aged between 15 and 25 by qualified trainers both in person and online. The Web3 courses will be designed by Binance Academy and adapted to meet local context Courses, which will include: Blockchain Fundamentals, Crypto Fundamentals, Decentralization, Web3, and the Metaverse.

The South Africa pilot will take place in Cape Town at the Philippi Village Tech Hub in the Philipp Township for an additional 50 women.  Over the duration of the six months, further programmes will be rolled out across Burundi, Ghana, Ivory Coast, Kenya, Morocco, Nigeria, Senegal, and Zambia.

South African Rugby Icon Siya Kolisi Partners with Luno to Headline New Crypto Advertising Campaign

Siya Kolisi, South African national rugby captain, will lead a two-year educational digital currency advertising in South Africa in partnership with Luno, a leading crypto exchange in South Africa.

The campaign’s rollout is expected to feature a series of television adverts that will promote a long-term investment attitude towards cryptocurrencies. Kolisi was front and centre of the first advert of the new campaign, which was aired during the Springboks’ third match of the Rugby Championship against Australia on Saturday.

In a statement highlighting Luno’s efforts in making crypto investing accessible to newbies that are unfamiliar with the space, Kolisi said, “Like many South Africans, I am new to crypto investment, so I had to do some research before deciding to partner with Luno. I love that Luno focuses on providing education for new crypto investors like me so we can make better, long-term financial decisions.”

Marius Reitz, Luno’s General Manager for Africa, highlighted the current downturn across cryptocurrencies markets as a prime example for investors to zoom out and focus on long-term investing in the space, “When you zoom out, the ups and downs do not change the fundamental potential of crypto to improve the world’s financial system, which is what its long-term value is based on. The long game in crypto means holding, rather than trading.”

Central African Republic Court Terms the Purchase of CAR Citizenship Using the Sango Coin Unconstitutional

Just over a month after the Central African Republic (CAR) launched the Sango Coin project that allowed foreign investors to purchase CAR citizenship by purchasing $60,000 worth of the coin, the Constitutional Court in the country has now ruled the move unconstitutional.

Despite the crypto winter, CAR’s government went ahead to launch the crypto project on July 25, 2022, amid backlash from various institutions, such as the World Bank, which distanced itself from the project. The court ruling, among other reasons, argued that nationality did not have a market and that residency required a physical stay in Central African Republic (CAR) as shown in a decree.

It is not immediately clear what the impact on the Sango Coin project will be over the coming days and weeks.

Binance Launches Educational Hub in Cameroon

Crypto exchange Binance has, in a partnership with Inoni Tech, opened a training center in Cameroon’s capital, Yaoundé.

Cheta Nwatarali, a Binance Angel and an active member of Binance Africa, told BSC News, “With an average of 4.2% global crypto owners, Africa boasts 53 million crypto users, the second after Asia. Binance prioritizes educating about web three education and advancement in Africa through webinars, workshops, meet-ups, etc., which means they already know the drive to expand the crypto ecosystem starts from Africa.”

The educational hub that was launched on August 25, 2022, will act as a training centre for in-person blockchain and crypto education, up-to-date crypto news as well as host regular in-person events. In addition, the space will also offer resources and training for young people across Francophone Africa.

This latest move is part of Binance’s continued efforts to make cryptocurrencies more accessible in Francophone Africa and other parts of Africa.

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Weekly Roundup: Africa’s Cassava Network Partners with UniPass to Expand Crypto Adoption in Africa & More



Cassava Network Partners with UniPass

In this week’s news roundup, you will read about Cassava Network, an African Web3 platform that has partnered with UniPass to advance crypto adoption in Africa, and more.

African Web3 Platform, Cassava Network, Partners with Self-custody Crypto Wallet to Expand Crypto Adoption in Africa

Cassava NetworkCassava Network, an African Web3 platform with a focus on gaming, non-fungible tokens (NFTs), and rewards, has announced the launch of the third version of its platform that features integration with UniPass, a non-custodial smart contract, enabling users to use their email addresses instead of seed phrases and gas. 

The partnership will enable Cassava Network to onboard Africans from Web2 to Web3 as users will be able to create Cassava accounts and automatically sign up to UniPass where they will be able to send, receive, and store on-chain digital assets across various Ethereum Virtual Machine (EVM) blockchains. 

Speaking about the launch of the new platform version, Mouloukou Sanoh, Co-founder of Cassava Network, said, “Cassava v3 serves as a bridge for global Web3 businesses to connect with African Web2 users.”

Sanoh went ahead to mention that 90 percent of the partners engaging with the community feature of the new version are African businesses. 

Benjamin Obenze, Cassava Network’s Business Developer, in an interview said that African users and businesses will be able to use the new platform version to enter Web3 spaces. 

Nigeria Leads the African Continent with Crypto Leverage Searches on Google

According to an analysis of Google searches done by Leverage Trading, Nigeria scored the second-highest globally (94) for searches related to crypto leverage in the last five years. 

Singapore is the only country that outscored Nigeria with a score of 100 regarding searches but with more emphasis on transactional searches like ‘how to leverage trade crypto’. South Africa and Ghana follow Nigeria closely as both countries have also dominated Google searches for the term ‘trade crypto.’ 

Despite Nigeria leading in the crypto leverage searches and South Africa and Ghana following closely, Leverage Trading established that Africa still lags behind when it comes to searches for the term ‘stock leverage.’ 

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Weekly Roundup: Kenyan Senate in Discussion with CBK to Legalise Bitcoin & More



kenya legalise bitcoin

In this week’s news roundup, you will read about the Senate initiating talks with the Central Bank of Kenya to develop policies on digital assets, Zambia’s move to test the tech it desires to use for crypto regulation, and more. 

Kenya’s Senate to Hold Discussions with CBK to Legalise Digital Assets

The Committee on Information, Communication & Technology, under the Senate of the Republic of Kenya, has made its intention known that it will engage the Central Bank of Kenya (CBK) and other stakeholders to develop policies on the use of crypto assets and virtual service providers in the country.

The news was shared on the official Twitter page of the Senate of Kenya. The committee is keen on facilitating the development of a crypto regulatory framework that can enable Kenyans to carry out safe and secure crypto transactions. Moreover, the committee also noted that having regulations on cryptocurrency use in the country will help Kenya to harness the benefits of financial innovation while curtailing the risks associated with digital assets. The committee also stated that it is committed to accelerating the implementation of the country’s Central Bank Digital Currency (CBDC). 

Despite these new developments, the CBK hasn’t outrightly changed its stance on virtual currencies like Bitcoin not being a legal tender. However, the CBK, in 2022, published a discussion paper calling on Kenyans to share their opinions on CBDC as it looked to explore the potential implementation of a CBDC. 

Zambia Testing Technology for Crypto Regulation

The Bank of Zambia and the country’s securities regulator are currently testing technology to allow for the regulation of cryptocurrencies. The news was shared by Zambia’s Technology and Science Minister, Felix Mutati, on the ministry’s website in a move that is aimed at achieving an inclusive digital country.

Speaking about the news, Mutati stated that cryptocurrency is the future that the country desires to achieve,” but a policy framework is required to support this “revolutionary technology.” He went ahead to state that the testing of the technology that will potentially be used to regulate cryptocurrencies in the country will be upscaled in due time as part of deliberate efforts to achieve an inclusive digital economy in the country.

In addition, the minister also claimed that Zambia aspires to become a technology hub in Africa by developing digital infrastructure and attracting investments in the sector. 

South African Startup Momint Keen to Boost Electricity Generation Utilising Blockchain-Based Solution

Momint, a South African startup, recently announced that it had launched a blockchain-powered solution that can alleviate the country’s energy distress by installing more rooftop solar systems in public institutions such as schools and hospitals. 

The company has so far piloted the solution at one local school – Delmas High School – in Mpumalanga Province, South Africa, according to a news report published by News 24. According to the report, investors who are keen to participate in the project can do so by acquiring non-fungible tokens (NFTs) that are linked to solar cells and retail for just under $9. 

The solar cells will then be leased to institutions that agree to buy the generated electricity through a standard power purchase agreement. 

Speaking of his company’s solution, Ahren Posthumus, Momint’s CEO, said, “We are a technology company that’s trying to build for the next 15 years, but what we realized is we can’t build a technology company in a country that doesn’t have electricity.”

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Weekly Roundup: South Africa Introduces New Cryptocurrency Standards to Advertising Code & More



south africa cryptocurrency advertising

In this week’s news roundup, you will read about South Africa’s new clause on its advertising code targeted towards the cryptocurrency sector and more.  

South Africa Introduces New Cryptocurrency Standards to Advertising Code

The South African Advertising Regulatory Board (ARB) has introduced a new clause targeted at the crypto industry and aimed at protecting consumers from unethical advertising. 

According to the new clause introduced to Section III of the country’s advertising code, both companies and individuals in South Africa will be required to abide by certain advertising standards in relation to the provision of crypto products and services. The first clause makes it mandatory for adverts, including crypto offerings, to clearly express that crypto investments may result in the loss of capital given the volatile nature of cryptocurrencies. In addition, crypto adverts should not contradict warnings about potential investment losses that investors may face. 

The clause also went ahead to emphasize that adverts for particular services and products must be explained in an easily understandable manner for the target audience. Advertisements must also have balanced messages around benefits, features, returns, and risks associated with the particular service or product. 

Rates of returns, projections, or any kind of forecasts must also be sufficiently substantiated, including how they are calculated and what conditions apply to touted returns. Moreover, any information relating to a crypto product or service’s past performance will not be used to promise future performance or returns, and should, therefore, not be presented in a way that creates ‘a favourable impression of the advertised product or service.’

The clause went on to state that adverts from crypto service providers who aren’t registered credit providers should not push for the acquisition of digital currencies using credit. However, this does not prevent the advertising of associated payment methods provided by crypto service providers. In the same breadth, brand ambassadors and social media influencers will also be expected to comply with certain advertising standards, such as sharing factual information and not offering advice on investing or trading in crypto assets as well as the prohibition of promises of benefits or returns. 

Central African Republic Keen on a Legal Framework for Cryptocurrency Adoption

Central African RepublicCentral African Republic (CAR) has set up a 15-member committee that will be responsible for developing a bill on the use of cryptocurrencies and tokenization in the region.

Once developed, the legal framework will enable cryptocurrencies to operate in the Central African Republic and expedite the development of the country’s economy. CAR’s President, Faustin-Archange Touadéra, believes that digital currencies will help eliminate the country’s financial barriers and build a business-friendly environment that’s supported by a legal framework for crypto usage in the country. 

He went on to say, “With access to cryptocurrencies, the monetary barriers existing until now will disappear, the main objective of the measures adopted by the government being the development of the national economy.”

The committee tasked with drafting the crypto bill comprises 15 experts from five different ministries of CAR, including the Ministry of Mines and Geology, the Ministry of Waters, Forest, Hunting and Fishing, the Ministry of Agriculture ad Rural Development, the Ministry of Town Planning, Land Reform, Towns and Housing and Ministry of Justice, Promotion of Human Rights and Good Governance.

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