The tech-investment stories moving Africa's markets — what moved, and why it matters.
Sun, Aug 23
The N2 billion capital requirement for exchanges grabs the headlines. But the retail investment limits in this proposal may do more damage to Nigeria's crypto market than anything aimed at operators.
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NIGCOMSAT's existing satellite was launched in 2011 and, by the agency's own admission last year, only 7% of its broadband capacity was actually being used. That's the uncomfortable baseline behind today's announcement.
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Bitoshi, a crypto platform founded by a student with an $11.12 allowance, has self-reportedly reached 60,000 users and $50 million in transaction volume. The growth trajectory is being cited as a notable African bootstrap story in the digital assets space.
Absa has secured custody of the Government Employees Pension Fund, a $218 billion mandate that Standard Bank had held for approximately 30 years. The transfer reshapes the institutional finance landscape in South Africa and represents a landmark competitive win for Absa in the custody banking segment.
Nigeria's growing data centre sector faces critical constraints around power supply and water availability that could determine which operators survive long-term. The bottlenecks are being flagged as a structural risk to West Africa's broader digital infrastructure backbone.
Kenya's Special Funds market has grown 135 percent year-on-year, with MansaX crossing $1 billion in assets under management, signalling a maturing domestic capital market. The milestone provides a concrete benchmark for the development of Kenya's institutional investment infrastructure.
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