World
Why Africa Might Define the Future of the Crypto Market
While many prominent experts call the African continent one of the most promising for the future of the cryptomarket, the numbers so far are not convincing. But what makes it so interesting and how do people in Africa actually use cryptocurrencies in 2021?
What makes Africa such a promising market
The report “The Stare of Crypto Africa” calls the region “one of, if not the most promising region for the adoption of cryptocurrencies”. Jack Dorsey, the CEO of Twitter and Square, tweets that “Africa will define the future” of the whole crypto industry.
At the same time, Africa is still the smallest economy by the total value of transactions in the world: with over 1.2 billion population it accounts only for 2% of the global value transacted in cryptocurrencies. So how does being the smallest economy in transactional volume in crypto blend with being one of the most promising regions?
The first answers can be derived from a recent Chainalysis report that states that only in one year, from July 2020 to June 2021, the African crypto-economy had grown over 1200%. Moreover, some countries in the region like Kenya or Nigeria are among the top 20 of the Global Adoption Index.
As researchers from Arcane put it, the African market’s success сan be attributed to “the unique combination of economic and demographic trends”. One of the drivers of its uniqueness is the fact that, according to different estimates, 57% to 66% of the population has no such thing as a simple bank account.
The situation forces people to look for alternatives and that is why such countries as Kenya and Nigeria are among the countries with the highest adoption rate of cryptocurrencies. In the end, due to the lack of the infrastructure affordable for the majority of citizens, people adapted and now they “have no problems with mastering new technologies”, as Sergey Ordin, marketing director of the international crypto community Roy Club with representative offices in Africa, puts it.
He also shared that “remarkably high interest towards innovative financial opportunities with low entry levels” shows in the Roy Club members statistics: however the offices in Africa opened their doors in 2021, the number of its participants is already 15% of all members at a global level (approximately 100 000 out of 700 000)
Use cases: From cutting transactional costs to financial independents
With most of the population unbanked and the fact that cross-border payments in Africa cost on average more than at any other main continent (per the World Bank, up to 8.9% per transaction while the global average is 6.8), there is no surprise that remittance payments became the most popular use case for cryptocurrencies.
Remittance payments volume has been steadily growing for the last couple of years. Per Chainalysis, it has grown 10 times from April 2019 to April 2021, for example. Also, with time, not only individuals but businesses started to use cryptocurrencies for doing international business in some areas. Artur Schaback, the confounder of the popular in Africa P2P exchange Paxful illustrated this point with an example:
“If you’re working with a partner in China to import goods to sell in Nigeria or Kenya, it can be hard to send enough fiat currency to China to complete your purchases. It’s often easier to just buy Bitcoin locally on a P2P exchange and then send it to your partner”
The situation drastically changed in the middle of 2020 when stay-home policies and other restrictions became a catalyst for exploring other use cases for cryptocurrencies. There is no surprise that when the pandemic worsened the situation with national currencies that had high devaluation rates even before 2020 people started to preserve their savings by using bitcoin and other cryptocurrencies. For example, in Nigeria, Chainalysis shows the correlation between the peaks of the devaluation of Naira, the local currency, and trading volumes on P2P platforms with this currency.
Also, 2020 inevitably worsened the situation with employment. Young people who are in general more well-versed in new technologies in a moment with growing unemployment and uncertainty opted to use cryptocurrencies as a source of income. Buchi Okoro, the CEO of the African crypto exchange Quidax, shared that a high proportion of the users of the exchange use cryptocurrencies “to earn a living”. And indeed, those who invested in bitcoin, for example, in March 2020 at a price of $6500 definitely succeeded making 900% profits by March 2021 when the bitcoin price was already $60000.
Now, when the bitcoin price growth is slowing down, another way to earn a living becomes more and more popular in Africa – staking. Staking is in many ways similar to mining since it involves users in performing such network functions as block validation with two main exceptions: it does not require expensive equipment and there is no need to acquire special skills. Staking is the mechanism of getting profit from owning cryptocurrencies that work on the Proof-of-Work algorithms and putting them on hold for some time.
Since P2P platforms are also very popular in Africa, the idea of sharing with the community is no stranger there. That is probably why staking pools became so popular. They work in the following way: members of the community pool their resources together to increase their chances for a good profit. For example, at Roy Club, according to Ordin, staking pools bring their members from 5% (for pools with 50,000 UMI) to 40% (for pools with over 1 billion UMI) monthly.
Moreover, the people’s readiness to adopt new technologies is coupled with their readiness to learn. Sergey Odin specifically highlighted the significant local interest in educational products like Roy School and Roy Academy that offer courses for both novices and advanced users free of charge.
To conclude, while the transactional volume is still tiny compared with other economies, the African continent has all chances to define the future of the crypto market with current growth rates and the readiness of its population to learn and adopt new technologies. While people immediately noticed that cryptocurrencies are useful for cutting costs of remittance payments, with time they also started to see a chance for financial independence and additional income in more complex products, like staking.
World
Russia Expands Military-Technical Cooperation With African Partners
By Kestér Kenn Klomegâh
Despite geopolitical complexities, tensions and pressure, Russia’s military arms and weaponry sales earned approximately $15 billion at the closure of 2025, according to Kremlin report. At the regular session, chaired by Russian President Vladimir Putin on Jan. 30, the Commission on Military and Technical Cooperation with Foreign Countries analyzed the results of its work for 2025, and defined plans for the future.
It was noted that the system of military-technical cooperation continued to operate in difficult conditions, and with increased pressure from the Western countries to block business relations with Russia. The meeting, however, admitted that export contracts have generally performed sustainably. Russian military products were exported to more than 30 countries last year, and the amount of foreign exchange exceeded $15 billion.
Such results provide an additional opportunity to direct funds to the modernization of OPC enterprises, to the expansion of their production capacities, and to advanced research. It is also important that at these enterprises a significant volume of products is civilian products.
The Russian system of military-technical cooperation has not only demonstrated effectiveness and high resilience, but has created fundamental structures, which allow to significantly expand the “geography” of supplies of products of military purpose and, thus strengthen the position of Russia’s leader and employer advanced weapons systems – proven, tested in real combat conditions.
Thanks to the employees of the Federal Service for Military Technical Cooperation and Rosoboronexport, the staff of OPC enterprises for their good faith. Within the framework of the new federal project “Development of military-technical cooperation of Russia with foreign countries” for the period 2026-2028, additional measures of support are introduced. Further effective use of existing financial and other support mechanisms and instruments is extremely important because the volumes of military exports in accordance with the 2026 plan.
Special attention would be paid to the expansion of military-technological cooperation and partnerships, with 14 states already implementing or in development more than 340 such projects.
Future plans will allow to improve the characteristics of existing weapons and equipment and to develop new promising models, including those in demand on global markets, among other issues – the development of strategic areas of military-technical cooperation, and above all, with partners on the CIS and the CSTO. This is one of the priority tasks to strengthen both bilateral and multilateral relations, ensuring stability and security in Eurasia.
From January 2026, Russia chairs the CSTO, and this requires working systematically with partners, including comprehensive approaches to expanding military-technical relations. New prospects open up for deepening military-technical cooperation and with countries in other regions, including with states on the African continent. Russia has been historically strong and trusting relationships with African countries. In different years even the USSR, and then Russia supplied African countries with a significant amount of weapons and military equipment, trained specialists on their production, operation, repair, as well as military personnel.
Today, despite pressure from the West, African partners express readiness to expand relations with Russia in the military and military-technical fields. It is not only about increasing supplies of Russian military exports, but also about the purchase of other weapons, other materials and products. Russia has undertaken comprehensive maintenance of previously delivered equipment, organization of licensed production of Russian military products and some other important issues. In general, African countries are sufficient for consideration today.
World
Trump Picks Kevin Warsh to Succeed Jerome Powell as Federal Reserve Chair
By Adedapo Adesanya
President Donald Trump has named Mr Kevin Warsh as the successor to Mr Jerome Powell as the Federal Reserve chair, ending a prolonged odyssey that has seen unprecedented turmoil around the central bank.
The decision culminates a process that officially began last summer but started much earlier than that, with President Trump launching a criticism against the Powell-led US central bank almost since he took the job in 2018.
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Mr Trump said in a Truth Social post announcing the selection.
US analysts noted that the 55-year old appear not to ripple market because of his previous experience at the apex bank as Governor, with others saying he wouldn’t always do the bidding of the American president.
If approved by the US Senate, Mr Warsh will take over the position in May, when Mr Powell’s term expires.
Despite having argued for reductions recently, “Warsh has a long hawkish history that markets have not forgotten,” one analyst told Bloomberg.
President Trump has castigated Mr Powell for not lowering interest rates more quickly. His administration also launched a criminal investigation of Powell and the Federal Reserve earlier this month, which led Mr Powell to issue an extraordinary rebuke of President Trump’s efforts to politicize the independent central bank.
World
BRICS Agenda, United States Global Dominance and Africa’s Development Priorities
By Kestér Kenn Klomegâh
Donald Trump has been leading the United States as its president since January 2025. Washington’s priority is to Make America Great Again (MAGA). Trump’s tariffs have rippled many economies from Latin America through Asian region to the continent of Africa. Trump’s Davos speech has explicitly revealed building a ‘new world order’ based on dominance rather than trust. He has also initiated whirlwind steps to annex Greenland, while further created the Board of Peace, aimed at helping end the two-year war between Israel and Hamas in Gaza and to oversee reconstruction. Trump is handling the three-year old Russia-Ukraine crisis, and other deep-seated religious and ethnic conflicts in Africa.
These emerging trends, at least in a considerable short term, are influencing BRICS which has increased its geopolitical importance, and focusing on uniting the countries in the Global East and Global South. From historical records, BRICS, described as non-western organization, and is loosing its coherence primarily due to differences in geopolitical interests and multinational alignments, and of course, a number of members face threats from the United States while there are variations of approach to the emerging worldwide perceptions.
In this conversation, deputy director of the Center for African Studies at Moscow’s National Research University High School of Economics (HSE), Vsevolod Sviridov, expresses his opinions focusing on BRICS agenda under India’s presidency, South Africa’s G20 chairmanship in 2024, and genegrally putting Africa’s development priorities within the context of emerging trends. Here are the interview excerpts:
What is the likely impact of Washington’s geopolitics and its foreign policy on BRICS?
From my perspective, the current Venezuela-U.S. confrontation, especially Washington’s tightened leverage over Venezuelan oil revenue flows and the knock-on effects for Chinese interests, will be read inside BRICS as a reminder that sovereign resources can still be constrained by financial chokepoints and sanctions politics. This does not automatically translate into BRICS taking Venezuela’s side, but it does strengthen the bloc’s long-running argument for more resilient South-South trade settlement, diversified energy chains, and financing instruments that reduce exposure to coercive measures, because many African and other developing economies face similar vulnerabilities around commodities, shipping, insurance, and correspondent banking. At the same time, BRICS’ expansion makes consensus harder: several members maintain significant ties with the U.S., so the most likely impact is a technocratic push rather than a loud political campaign.
And highlighting, specifically, the position of BRICS members (South Africa, Ethiopia and Egypt, as well as its partnering African States (Nigeria and Uganda)?
Venezuela crisis urges African members to demand that BRICS deliver usable financial and trade tools. For South Africa, Ethiopia, and Egypt, the Venezuela case is more about the precedent: how quickly external pressure can reshape a country’s fiscal room, debt dynamics, and even investor perceptions when energy revenues and sanctions compliance collide. South Africa will likely argue that BRICS should prioritize investment, industrialization, and trade facilitation. Ethiopia and Egypt, both debt-sensitive and searching for FDI, will be especially attentive to anything that helps de-risk financing, while avoiding steps that could trigger secondary-sanctions anxieties or scare off diversified investors.
Would the latest geopolitical developments ultimately shape the agenda for BRICS 2026 under India’s presidency?
India’s 2026 chairmanship is already framed around “Resilience, Innovation, Cooperation and Sustainability,” and Venezuela’s shock (paired with broader sanction/market-volatility lessons) will likely sharpen the resilience part. From an African perspective, that is an opportunity: South Africa, Ethiopia, and Egypt can press India to translate the theme into deliverables that matter on the ground: food and fertilizer stability, affordable energy access, infrastructure funding. India, in turn, has incentives to keep BRICS focused on economic problem-solving rather than becoming hostage to any single flashpoint. So the Venezuela episode may function as a cautionary case study that accelerates practical cooperation where African members have the most to gain. And I would add: the BRICS agenda will become increasingly Africa-centered simply because Africa’s weight globally is rising, and recent summit discussions have repeatedly highlighted African participation as a core Global South vector. South Africa’s G20 chairmanship last year explicitly framed around putting Africa’s development priorities high on the agenda, further proves this point.
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