TECH & INNOVATION – Bitcoin adoption in Sub-Saharan Africa is the highest in the world

Loading player...
GUEST - Christo de Wit, SA country manager at Luno.

Chainalysis, the blockchain data platform is sharing its focus chapter on Sub-Saharan Africa, as part of the Chainalysis 2023 Geography of Cryptocurrency Report. Last week, the first chapter, The 2023 Global Cryptocurrency Adoption Index was published, as well as the chapter about Central & Southern Asia.

Some highlights of the Sub-Saharan Africa chapter:

1. Adoption and use of Bitcoin in Sub-Saharan Africa is the highest in the world. The report dives into how and why.

2. The use of homegrown Sub-Saharan Africa-based exchanges continues to outpace global exchanges.

3. With a 9% growth rate, Nigeria was one of only six countries in the world where transaction volume grew year-on-year. The Naira crisis led to further adoption of cryptocurrency. In the report Chainalysis maps how interest in Bitcoin and stablecoins has generally risen as the Naira’s value has decreased.
19 Sep 2023 5PM English South Africa Business News · Investing

Other recent episodes

Mine 2026: The New Battleground for Global Mining

PwC’s Mine 2026 report shows miners posting record profits — yet facing unprecedented structural pressures. Energy Utilities and Resource Assurance Partner Vuyiswa Khutlang breaks down the three imperatives reshaping mining: policy stability, capital mobilisation, and technology‑driven productivity. We explore copper’s surge, coal’s decline, selective M&A, and why geology alone no…
29 Jun 5PM 16 min

How Middle East Shocks Hit Africa’s Politics & Economy

The Middle East ceasefire may hold — or unravel. Either way, Africa is already feeling the tremors. Political analyst Jervin Naidoo maps how geopolitical shocks strain fiscal balances, fuel inflation, election stability, capital flows and sovereign risk premiums across the continent. A deep dive into Africa’s political vulnerability and the…
29 Jun 5PM 18 min

R316 Million for Impact: How E Squared Is Rewiring Entrepreneurship

E Squared’s 2025 Impact Report showcases a powerful model of patient capital, responsible entrepreneurship and transformation-driven investing. CEO Gladwyn Leeuw explains the shift to “lives meaningfully improved", the pipeline‑to‑scale approach, backing Black and female founders, and building businesses that endure — all while delivering commercial and social returns.
29 Jun 5PM 14 min

Inside Siyakhokha: How Ekurhuleni Is Modernising Municipal Payments

Ekurhuleni’s finances — and its ability to deliver reliable services — depend on a strong partnership with residents. MMC for Finance Alderman Jongizizwe Dlabathi explains how the City’s Siyakhokha platform is transforming municipal payments through convenience, security and digital efficiency. From registering online to logging queries and making payment arrangements,…
25 Jun 4PM 15 min

African Bank sees R624mn half-year loss, Capital ratio 25.8% keeps ops standing

African Bank has entered a new chapter shifting from years of acquisitive expansion to a disciplined phase of consolidation. Interim Group CEO Zweli Manyathi breaks down the R624m loss, the credit environment, cost‑to‑income pressures, and the bank’s strategy to unlock value from its diversified platform.
25 Jun 4PM 21 min