Economy
Crypto Trading is Thriving in Africa Amid COVID Restrictions
The ongoing COVID-19 pandemic has affected many people around the world. Due to the restrictions brought upon because of the spread of the virus, many people globally had problems going on with their regular daily lives.
Among many regions and parts of the world that suffered due to the spread of the virus was Africa. Many of the countries in the region reported increasing unemployment numbers. In such an environment, many Africans found crypto investments and trading as a way out of the hardships.
Crypto allowed people in the region the opportunity to transact their money freely and within a few minutes without having to deal with huge transaction fees. While the regulatory framework around crypto in Africa is far from being established, people are still using cryptos very actively.
The interest of Africans in the crypto trading market is increasing every single day in the region and showing the highest adoption rate of cryptos around the world. In some countries of Africa, the regulatory agencies are very strict when it comes to crypto activities.
In fact, some of the governments have totally banned crypto activities, including trading and investing. But, such heavy regulations seem to not affect the popularity of cryptocurrencies in the region. In fact, the interest has increased even more after such strict regulations were adopted in some of the African countries.
Africa is using the cryptocurrency market for numerous different reasons, including for doing business, protecting their savings and funds, and also sending and receiving funds overseas.
Why is Crypto So Popular in Africa?
There are many reasons behind the huge popularity of the crypto trading market in Africa. One of the main reasons why so many people have decided to turn to cryptocurrencies in the region is that they have had enough bad experiences with fiat currencies and they want to protect their funds from the effects of inflation.
Another very important factor that supports the popularity of the crypto market is that it lets locals send and receive funds without having to pay a lot of commissions and fees. In the region, peer-to-peer transactions are especially popular.
People in Africa are using cryptocurrencies for all different reasons. There are some people who are using it as an asset to trade, while others use it for day-to-day activities, such as selling goods, saving up money, or sending money to others.
As the national currencies of numerous African countries continue to depreciate, the population of the region had to find a way out of the situation. For many, cryptocurrencies are one of the only opportunities to preserve their wealth, while also watching it grow.
Another reason why so many people are showing such interest in the crypto trading market in Africa is that the market has become very easy to access for people of all backgrounds. Today, thanks to the increasing number of crypto exchanges offered to African traders, getting started in the market is very simple.
All they need to do is to open an account with one of the available crypto exchanges in the region, deposit funds, and start buying and selling cryptocurrencies.
In fact, trading cryptos does not require as much attention from traders anymore. This lets traders in the region go on with their day while making profits. It is possible thanks to the crypto trading robots, which are able to analyze the market in a matter of minutes for traders and make profits for them.
For example, while using an automated bitcoin trading robot, you will be able to sit back and let the robot make profits for you. There are different types of robots available in the market, some of them are able to analyze the market and provide traders with trading signals.
On the other hand, there are trading bots that are able to actually trade cryptocurrencies for you and make profits. The majority of the crypto robots use API keys to connect with crypto exchanges, which is a safe way of automated trading.
Crypto Trading in Africa
The past few years have been very important for the further development of the crypto trading market in the region. Amid the worsening situation in terms of economy and local currencies, the popularity of cryptocurrencies further increased.
Another important factor for the increasing popularity of the crypto trading market in the region was the Covid-19 pandemic. The ongoing pandemic caused numerous jurisdictions in the region to adopt different types of restrictions to curb the spread of the virus.
Due to the restrictions, many people were left without jobs and lost their income. In this situation, the demand for the cryptocurrency trading market has increased dramatically.
However, although crypto trading is very popular in the region, the local regulations are far from being in favour of the crypto trading market. Many of the countries in the region have restricted trading cryptocurrencies altogether, while others have issued warnings against crypto trading.
But, even this did not get in the way of the further development of the market. Cryptocurrencies are becoming more and more popular in Africa every single day and the easier access to the market makes it even more attractive for local traders.
However, due to the local restrictions, people are mostly using P2P trading platforms to participate in the market. This made Africa one of the most active regions in terms of P2P crypto transactions.
By Aduragbemi Omiyale
One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.
Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.
Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.
The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.
At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.
“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.
“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.
By Adedapo Adesanya
The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.
In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.
Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.
The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.
The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.
FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.
Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).
On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.
As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.
Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.
On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
By Dipo Olowookere
A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.
Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.
Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.
Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.
During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.
Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.
Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.
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