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Africa received $105.6 billion worth of cryptocurrency
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This Week in Tech

Africa received $105.6 billion worth of cryptocurrency

Africa has the smallest cryptocurrency economy of any region we study, having received $105.6 billion worth of cryptocurrency between July 2020 and June 2021

Samson Omamuzo
Sep 15, 2021
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Africa received $105.6 billion worth of cryptocurrency
africatechmemo.substack.com

Hi!

I stumbled upon this post - The Forum on China-Africa Cooperation at 21: Where to Next?, last week and for every piece of each sentence that I read, I feel a kind of toggle in my stomach.

“African countries can negotiate a more equitable role in FOCAC, but this requires a more strategically focused approach, better coordination, and greater accountability to their citizens.” - Africa Centre

Not to dilute it, here are my takeaways:

The Forum on China-Africa Cooperation at 21: Where to Next?

  • China still benefits more from the relationship than its African partners.

  • African countries depend on Chinese firms and lenders to finance and build critical export infrastructure.

  • Yet African firms face significant entry barriers to China’s value-added product markets relative to commodity exports.

  • African elites harness Chinese largesse to build patronage networks, strengthen their political positions, and maximize self-enrichment. The lack of transparency in these deals is often detrimental to African citizens’ interests.

*One good read on this matter: https://theconversation.com/how-to-negotiate-infrastructure-deals-with-china-four-things-african-governments-need-to-get-right-109116

Samson Omamuzo (LINKEDIN)


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Samson Omamuzo (LinkedIn)

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Africa received $105.6 billion worth of cryptocurrency
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