Web3 Africa | Blockchain, Crypto & Web3 News Across Africa

Flutterwave Slashes Staff in Key African Markets Amid Restructuring Drive

KenMichaelsJuly 4, 2025January 28, 202609 mins

Profitability or bust: Flutterwave eliminates 50% of Kenya and South Africa teams, Kenya down to under 8 staff, while hiring same roles in Nigeria. Regulatory reality bites as PSP license delays in both markets trigger mass cuts, including Regional Manager Leon Kiptum and Stablecoins VP Saruni Maina. After $250M raise, CEO Agboola’s mandate is clear: sustainable growth, not expansion. African fintech’s new normal: regulation compliance first, venture-fueled growth second.

Truth Behind Kenya’s Now-Withdrawn VASP Bill Exposed

KenMichaelsJuly 4, 2025January 29, 2026010 mins

Kenya’s VASP bill withdrawn after suspicious amendments threatened $100.7M crypto ecosystem with regulatory capture and monopolistic stablecoin controls. Muthoni Njogu identified governance gaps: insufficient board expertise standards, political appointment concentration, Virtual Assets Chamber of Commerce board seat conflict. Last-minute clause mandating fiat conversions exclusively through licensed Kenya Shilling stablecoin issuer sparked ecosystem manipulation fears. AfDB’s Adesina warns “state capture undermines growth” as East Africa (Tanzania, Uganda) watches Kenya’s regulatory integrity crisis.

Eskom’s Debt Crisis Sparks Bitcoin Mining and AI Data Centre Exploration

KenMichaelsJuly 4, 2025July 30, 202609 mins

Eskom’s R403B ($22.7B) debt crisis drives radical Bitcoin mining and AI data center strategy as CEO Dan Marokane warns of “structural decline.” Sales dropped 4% since 2023, R90B municipal arrears, R3.1 trillion debt looms by 2050.
Minister Ramokgopa: “Business must reinvent itself.” Replicating Texas Riot’s $32M demand response model, Eskom monetizes surplus capacity despite 15,000MW outages, $256M diesel costs (R4.51B). Foreign miners sought for energy-intensive computing. Marokane: AI data centers “exciting opportunity” amid load-shedding legacy.

Tether and Zanzibar Sign MoU to Launch Blockchain Education Drive for Digital Finance Access

KenMichaelsJuly 2, 2025January 29, 202609 mins

Tether partners with Zanzibar eGaz on blockchain education program co-developing developer workshops covering Bitcoin utility, stablecoin mechanisms, real-world solutions for local challenges. USDT/XAU₮ integration into Zanmalipo government payment gateway targets national transaction transformation.
Paolo Ardoino: “Reflects commitment to advancing financial literacy and sustainable blockchain innovation in Africa.”
Previous initiatives: Guinea Innovation City, Quidax (15,000+ Nigerians/Ghanaians), Yellow Card campus tours. Stablecoins reach 50% of Africa’s crypto volume. Regulatory sandbox, academic alliances with institutions foster scalable ecosystem.

Xend Finance and AXA Partner to Unlock High-Yield cNGN Investments

KenMichaelsJuly 2, 2025January 29, 202609 mins

Xend Finance revolutionizes access: partner with AXA Finance for 21-22% annual returns in Nigerian money markets via cNGN stablecoin. International investors swap USDT to cNGN on Asset Chain, invest on-chain, bypassing conversion hassles and P2P fraud. Solves fragmentation in markets where stablecoins = 43% of transactions. Smart contracts ensure speed, transparency, security. CEO Aronu’s mission: bridge global liquidity to high-yield local opportunities while fostering inclusion. Africa’s answer, built by Africans.

MiniPay Q2 2025: Stablecoin Wallet Growth, New Features & Mini App Boom

KenMichaelsJuly 1, 2025July 30, 202609 mins

In Brief The MiniPay Ecosystem reached over 8M wallets and 224M+ transactions, demonstrating robust African stablecoin adoption. Innovative features like external transfers and Cash 3.0 top‑ups simplify real‑world crypto use for users. MiniPay Mini Apps and Mento rewards fuel community growth and incentivize on‑chain engagement. The Second quarter of 2025 has wrapped up nicely, with Africa’s…

Secure $30K Crypto Grant: Build Apps with Coinbase Wallet & Onramp Tools.

KenMichaelsJuly 1, 2025July 1, 202509 mins

In Brief The CDP Summer Builder grant (crypto developer grant) offers up to $30K to African teams building blockchain apps with Base’s wallet, onramp, or swap API tools. Applicants must show real utility, strong MVPs, and deep CDP integration to qualify for funding. This grant boosts Africa’s Web3 growth by supporting impactful, real-world blockchain innovations….

How PAPSS Enables Local Currency Swaps for Intra-African Trade

KenMichaelsJune 30, 2025July 30, 202608 mins

PAPSS blockchain marketplace with Bantu and Interstellar simulated stablecoins enables dollar-free local currency swaps across 19 countries. Tackles 8.45% remittance fees (20% peak) and $1B trapped airline funds.
Victor Akoma-Philips: “We created stablecoin semblance for corporate settlements.” Wamkele Mene: “We must use our currencies.” Supports $220.3B intra-African trade (12.4% YoY growth) toward AfCFTA’s $3.4T market. Afreximbank launched 2022.

Kenya Scraps 3% Crypto Tax: New Fee-Based System Explained.

KenMichaelsJune 30, 2025January 29, 202608 mins

Kenya repeals 3% digital assets tax following unified industry advocacy, replacing with 10% excise duty on VASP fees, net trader cost drops to 0.1%. Swypt, Busha, HoneyCoin, Luno, GoChapaa + PwC presented case against transaction value taxation.
Kuria Kimani (Finance Committee): “Changed from transaction amount to fees charged when trading.” Section 12F Income Tax Act repealed.
Finance Bill 2025 moves to Senate, awaits President Ruto assent. VASP Bill 2025 licensing framework targets consumer protection. Kenya drafts East Africa crypto policy blueprint alongside Nigeria, South Africa

Asset Chain Launches Gasless DEX Platform for Nigerian Crypto Traders and Investors

KenMichaelsJune 30, 2025January 29, 202609 mins

Asset Chain’s Nigerian Layer-1 blockchain launches gasless DEX eliminating transaction fees for USDT/cNGN trades. Ugochukwu Aronu: “We can’t keep contributing to other blockchains without getting value in return. We must have our infrastructure.”
Smart contract automation prevents P2P fraud in $59 billion Nigeria crypto market (2024). Tested at 20,000 TPS, 200 active traders target ₦100 billion ($65M) volume in 60 days. Beyond crypto, RWA tokenization (real estate, agriculture, bonds) via Risevest partnership offers 15% annual yield, building Africa for Africa.

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