Afrobility: Africa Tech and Business

#25: Crypto trading exchanges (African WealthTech Pt 3) - How cryptocurrency platforms are providing decentralized financial services across Africa

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Overview: Today we’re going to discuss cryptocurrency trading in Africa. We start with the global context of cryptocurrency, review crypto trading exchanges in Africa & end with our overall outlook. This episode was recorded on Mar 21, 2021.


Companies discussed: Coinbase, BitPesa, Xend, BuyCoins, eToro, Luno, Paxful, Quidax & Coinmama


Business concepts discussed: Asset allocation strategy, decentralized networks, cryptocurrency innovation, Fintech customer acquisition strategy, investment regulation & open-source decentralization


Conversation highlights:

  • (01:30) - Why we’re talking about Cryptocurrency in Africa
  • (03:20) - Background and context: Cryptocurrency, Bitcoin and Altcoins
  • (12:20) - Potential downsides of cryptocurrencies; Stablecoins background
  • (22:40) - Rise of cryptocurrency in Africa
  • (28:52) - Use cases for cryptocurrency in Africa
  • (36:15) - Africa’s regulatory environment for cryptocurrency
  • (40:30) - Crypto startups in West Africa
  • (49:36) - Crypto startups in Southern Africa
  • (55:20) - Crypto startups in East Africa
  • (59:59) - Crypto startups in North Africa
  • (1:07:44) - Bankole's overall outlook
  • (1:18:03) - Olumide’s overall outlook
  • (1:27:50) - Recommendations and small wins


    • Olumide’s recommendations, small wins & open questions:

    • Recommendation: Sam Altman's Stanford course: "How to Start a Startup": 20 videos about startup life from 2014. Fabulous.
    • Small win: Getting into the routine of chatting with friends on video call weekends. A lot of fun
    • Other content: ARK Invest Bitcoin white paper Part 2 (from 2020-Sep) & Stablecoins explanation (by 99Bitcoins)
    • Open question: How should African govt regulate cryptocurrency trading?


      • Bankole’s recommendations, small wins & open questions:

      • Recommendations: Why Ghana will no longer sell cocoa to Switzerland - Face2Face Africa & Okay by Adekunle Gold - YouTube
      • Small win: Chelsea FC - unbeaten in 14, only conceded 2 goals.
      • Other content: Why Crypto is coming out of the shadows - Morgan Stanley & Africa crypto landscape - StartupList Africa
      • Open question: How can cryptocurrency drive financial inclusion?


        • We’d love to hear from you. Please email [email protected] to share feedback or propose topics you’d like to hear.


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        Afrobility: Africa Tech and BusinessBy Olumide Ogunsanwo and Bankole Makanju
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