Africa

BPIfrance invests in cryptos in Cameroon

The goal of Bpifrance is to favour the growth of the French economy by helping entrepreneurs thrive.
We are also the French agency for innovation, delivering massive programs to innovative entrepreneurs.

Remember the latest blog post from IMF?

It includes a map of Africa, showing where crypto assets are allowed or banned:

BPIfrance vs crypto clampdown in Africa

This map shows that Cameroon explicitly bans cryptos, with a few others.

Today, we learn that “Ejara, a Cameroonian fintech offering an investment app that allows users to buy crypto and save through decentralized wallets, has raised $8 million in Series A investment.” Read more here.

But it gets worse…

Remember: a few weeks ago the French government said it would support the NFT industry with public funds.

Today, besides the “usual” investors in crypto rounds, there’s a very interesting name in the mix:

“London-based venture capital firm Anthemis co-led the growth round alongside crypto-focused fund Dragonfly Capital. Anthemis is a follow-on investor in Ejara, having also led the fintech’s $2 million seed round announced last October.”
 
“Participating VC firms in this new financing include other follow-on investors Mercy Corps Ventures, Coinshares Ventures and Lateral Capital–and new investors such as Circle Ventures, Moonstake, Emurgo, Hashkey Group and BPI France (sic).”

To be clear: BPIfrance, a public French bank (directly connected to the French government), is investing in a crypto app in Cameroon, where cryptos are supposedly forbidden, when the whole crypto world is crashing… Is that crypto-capitalism or crypto-colonialism?

If people remember what “Francafrique” is, there are so many questions to ask here…

But I suppose that all the African Freedom Activists will see nothing here, and will rejoice about this investment in such a context…

IMF: time to regulate cryptos in Africa

In a blog post, the IMF states it is time to regulate cryptos in Africa: “Africa’s Growing Crypto Market Needs Better Regulations”

“The risks from crypto assets are evident—it’s time to regulate.”

regulate cryptos in Africa
About 20% of sub-Saharan African countries have banned crypto assets.

Read more

See also: FTX in Africa

Uranium / NFTs / Namibia

A Canadian miner is selling NFTs to get funding for a mining project in Namibia, by tokenizing uranium.

“The agreement will allow the company to access ‘significant funding at a premium’ to analysts’ valuations of the company and has the potential to ‘revolutionise the funding of junior miners,’ Parnham says. Production of uranium at the company’s projects remains several years in the future.”
Read more

uranium - toxic - nuclear

The digital assets use ‘”Lux Network, the 1st decentralized blockchain integrated with and operated by a network of regulated bank and money transmitter partners.”
“Lux Network is a proof-of-stake, decentralized blockchain packed with innovation, designed to power the next-generation of DeFi.”

Lux Partners Ltd is of course an Isle of Man corporation, where there are no capital gains and no corporate taxes.

Tether / P2P app / Africa

“Excited to fly to Ghana soon for the AfroBitcoinOrg [First Pan African gathering of Bitcoiners. December 5th-7th, 2022] organized by Farida_N [Farida Bemba Nabourema – AfroCryptoShill in Gladstein’s network] and the team to meet like-minded people to discuss the role of Bitcoin, Tether & Keet.io in unleashing Financial Freedom and Freedom Of Speech.”

Tweet about AfroBitcoinOrg conf and Keet.io

What is keet.io?

“Keet.io is a Peer-to-Peer Chat App, built with the Holepunch platform that allows anyone to create apps that don’t use any servers.” – “With Bitcoin Lightning and USDT micropayments built-in, it’s easy to implement and use powerful paid features in apps.”

What is Holepunch?

Why did a crypto exchange and “stablecoin” generator develop a communication app?

“Some of the leading players in the cryptocurrency space have jointly developed a new encrypted protocol dubbed Holepunch, which they claim is designed to ‘unlock global communications, empower freedom of speech, and combat censorship around the world.’”

“To put it in another way, Holepunch, jointly developed by Tether, Bitfinex, and Hypercore, is a peer-to-peer (P2P) platform that’s designed to help developers build the next generation of data-intensive Web3 apps.”

Keet.io is based on Holepunch https://economymiddleeast.com/news/what-is-holepunch/

Both sites don’t give any information on who’s behind etc.

“The Site is operated by Holepunch Inc., a limited company registered in the British Virgin Islands […]”

“The 3 companies have invested a total of $10M into Holepunch’s development, and are expecting to take on additional companies as interest starts building up.”


The site still says “Mobile (coming soon)”…

tweets about Appstores by Paolo Ardoino

Is Paolo lying here? Could be Google or Apple might ask for a share of in-app payments…

“Although I’ll admit I’m hoping it’s more an issue of ongoing US DoJ investigations into Tether, and the Govt not being too thrilled with the idea of them expanding their reach.”

Small Patatas on Mastodon

Seems, that as usual, the cryptocolonialists are targeting Africa (see FTX…), at least for the launch… even if not having an app on the continent yet will be a serious limit, but they’re probably at the conference to “evangelize” developers, as they all do…

FTX in Africa – MARA (4)

May 2022: MARA raises $23M from Coinbase Ventures and FTX to build Africa’s portal to the crypto economy.”

MARA was supposed to be Central African Republic’s official crypto partner…
A relationship with the Central African Republic was confirmed by the exchange team. MARA will function as the country’s official crypto partner, advising the government on best practices, strategy, and planning as it considers greater adoption of cryptocurrencies.
No news, since the botched Sango Coin launch.

Around 11/16, promotions for the launch of their own token started, based on a brand new layer-1 blockchain.
Since then, any mention was quietly deleted…

logo Mara

More info:

Update: “Mara and Chipper Cash are not affected by the FTX bankruptcy”, they say…