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

Tracking South Africa’s Reform Agenda

Econometrix Chief Economist Dr. Azar Jammine breaks down the latest Operation Vulindlela progress report. We explore where reforms are gaining traction—from energy restructuring to freight logistics—and where bottlenecks remain.
28 Apr 3PM 20 min

Is SA’s Construction Sector Turning?

Economist Dr. Roelof Botha analyzes the latest Afrimat Construction Index alongside Operation Vulindlela’s reform dashboard. With construction activity rising for a second quarter, we ask whether reforms in energy, logistics, and water are finally translating into real‑world infrastructure momentum.
28 Apr 3PM 13 min

Making B‑BBEE Work for Growth

NEF General Counsel Karishma Govender joins us to unpack new research on managers’ perceptions of B‑BBEE. We explore why transformation remains essential.
28 Apr 3PM 8 min

Inside the SpendTrend26 Report

Discovery Bank CEO Hylton Kallner joins Kaya Biz to unpack the SpendTrend26 report, revealing how South Africans are becoming more disciplined, more digital, and more value‑driven.
28 Apr 3PM 17 min

Long‑Term Investing in Uncertain Markets

With global conflict, inflation swings, and rapid AI disruption, investors are feeling the pressure. Horacia Naidoo‑McCarthy from Allan Gray explains how to avoid emotional decision‑making, anchor to fundamentals, and maintain long‑term discipline when markets feel unfamiliar and unpredictable.
28 Apr 3PM 12 min