Tag Archives: Africa

Zimbabwe central bank opens market to competing currencies

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“Once known for its billion dollar notes and hyper-inflation, Zimbabwe must be the only place in the world to have eight currencies as legal tender – none of them its own.  For the last five years most people have been using US dollars or South African rand, but pula from Botswana and British pound sterling have also been changing hands.  Now the central bank is also allowing the use of Australian dollars, Chinese yuan, Indian rupees and Japanese yen.  For the moment, customers can open bank accounts in these currencies but the hard cash is not yet in circulation.”

http://www.bbc.co.uk/news/world-africa-26034078

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From Goldman, to Launching a Boutique Fashion Startup in Nigeria

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“Many of the major companies today didn’t exist 12 years ago, yet they have totally changed the way we communicate, make purchases, relate with our banks.  I think Bitcoin is somewhere up there with those revolutionary ideas. And it is a payment system that is carrying emerging economies like Nigeria (where I am from) along.  More practically speaking, my boyfriend kept talking about Bitcoin, and I liked what I heard. It could well be the future. Minku is somewhere at the intersection of fashion design and technology, and accepting Bitcoin is something that fits with our goals of running a fully international online shop.”

http://foundersgrid.com/fashion-startup-nigeria

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Litecoin users create 100 jobs in Madagascar

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“Online donors have raised more than $10,000 in Litecoin to employ Madagascan villagers to plant trees.  The move will create more than 100 new jobs in the impoverished country, as well as reforesting the area with more than 100,000 new trees.  The Madagascan mangrove forests are a vital part of the local eco-system, providing support for the local habitat as well as protecting the ground from washing away with the changing tides.  Fundraisers from the Litecoin community, the leading alternative crypto-currency to Bitcoin, came together to support the Eden Projects, a reforestation charity based in Glendora, California.”

http://www.prweb.com/releases/2014/01/prweb11523239.htm

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One Woman’s Quest to Bring Bitcoin to Botswana

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“Alakanani Itireleng, 36, believes in Bitcoin. ‘I love the prospect and the possibility that Bitcoin might bring to laypeople like me,’ she tells me.  She calls herself the Bitcoin Rep, Botswana’s Bitcoin Ambassador, and, as far as she knows, she’s the first Bitcoiner to hail from the mid-sized African country of just over two million people. ‘Kenya here in Africa has accepted Bitcoins with Mpesa and their Kipoch wallet,’ she said. ‘South Africa, our neighbor country, is already fully into Bitcoin, and I have even joined some of their pages on Facebook just to learn.’  ‘I think a lot can embrace Bitcoin without fear,’ she said.”

http://motherboard.vice.com/blog/one-womans-quest-to-bring-bitcoin-to-botswana

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Mandela ‘received weapons training from Mossad agents in 1962’

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“Nelson Mandela apparently underwent weapons training by Mossad agents in Ethiopia in 1962 without the Israeli secret service knowing his true identity, according to an intriguing secret letter lodged in the Israeli state archives.  The missive, revealed by the Israeli paper Haaretz two weeks after the death of the iconic South African leader, said Mandela was instructed in the use of weapons and sabotage techniques, and was encouraged to develop Zionist sympathies.”

http://www.theguardian.com/world/2013/dec/20/nelson-mandela-weapons-training-mossad-agents

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Hello Bitcoin, goodbye Western Union? The future of remittance

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“According to the World Bank, countries in Sub-Saharan Africa will receive 44 billion euros in remittance this year alone, which makes it one of the largest sources of income, far exceeding foreign aid.  Popular money transfer agents like Western Union or MoneyGram handle a large part of these transactions to African countries. Yet their fees for sending money are outrageously high: an average of 12.4 percent.  Techies believe that Bitcoin might be just what these migrants are looking for. Sending Bitcoin across borders and exchanging to and from the cryptocurrency is practically free of charge, and it doesn’t require the interference of any bank or government.”

http://www.rnw.nl/africa/article/hello-bitcoin-goodbye-western-union-future-remittance-could-be-digital

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South Africa and Ending Apartheid: The Free-Market Road Not Taken

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“Many private businesses in South Africa were interested and willing to employ black workers and invest in their training and acquisition of more highly valued marketable skills. However, the Afrikaner government used its regulatory and fiscal tools of control and intimidation to ‘keep in line’ white employers who saw economic gain by ‘crossing the color line’ in their businesses and enterprises. Thus, it was political goals of the South African government and not the market motive of profit that prevented black South Africans from having the opportunities to rise more out of poverty through peaceful competition and cooperative commercial association.”

http://www.thedailybell.com/editorials/34842/Richard-Ebeling-South-Africa-and-Ending-Apartheid-The-Free-Market-Road-Not-Taken/

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In Death, as in Life, Truth About Mandela Overlooked

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“Indeed, outside of open support from ruthless communist dictatorships Mandela’s ANC and its South African Communist Party partners were widely viewed as ruthless communist terrorists. Considering their murderous activities, which included the barbaric executions and torture of countless South African blacks who opposed them, it is easy to understand why.  With help from elements of the Western establishment and the media, however, all of that gradually changed. Widely adored in South Africa and around the world, today Mandela is almost universally portrayed as a peaceful hero who struggled to bring down the white-led Apartheid regime that ruled the area for decades.”

http://www.thenewamerican.com/world-news/africa/item/17106-in-death-as-in-life-truth-about-mandela-overlooked

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Bitcoin Service Targets Kenya Remittances With Cut-Rate Fees

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“BitPesa Ltd., a Kenyan start-up, will take on remittance providers like Western Union Co. (WU:US) by using the Bitcoin virtual currency to cut transaction costs for Kenyans working abroad who send home $1.2 billion a year.  Western Union and MoneyGram International Inc. deduct $10 to $17 to wire $200 to Kenya from the U.S., including charges to exchange funds, in a process that can take an hour to five days, according to the World Bank’s Send Money Africa price database. BitPesa will charge 3 percent on overseas transfers and says the money arrives the same day. At that rate, it would cost $6 to send $200 via BitPesa.”

http://www.businessweek.com/news/2013-11-28/bitcoin-service-targets-kenya-remittances-with-cut-rate-fees-1

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Google boss: Entire world will be online by 2020

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“‘For every person online, there are two who are not,’ Schmidt wrote on his Google+ account. ‘By the end of the decade, everyone on Earth will be connected.’  He followed up with a related thought.  ‘Think about how great the internet is with 2B users. Now think about how amazing it will be when 5B come online in a decade. #NewDigitalAge.’  It’s just the sort of big thinking that has led Google to become one of the largest and most innovative tech companies in the world. The rise of the mobile Web is also sure to play a role. In Africa, more people have access to a mobile phone than have access to electricity.”

http://www.cnn.com/2013/04/15/tech/web/eric-schmidt-internet/

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