Economy
Telegram Helps Crypto Usage Rise by 189% in Africa

Telegram has raised crypto usage by 189% in Africa. The messaging app for smartphones has ushered in a new era of communication by enabling cryptocurrencies and digital transactions to take place on Telegram. According to reports published by the cryptocurrency exchange, Bitget, Telegram has played an important role in reshaping the economy of Africa. Many citizens in Africa are adopting to cryptocurrency and decentralized finance (DeFi) by downloading Telegram on their digital devices.
The shift in digital transformation for Africans is a positive sign for crypto investors. Digital tokens like Bitcoin and Ethereum are moving the focus of cryptocurrencies from traditional Western banking to online transactions for smoother business operations. The survey released by Bitget studied the impact of Telegram across countries in Africa between January 2023 – August 2024. These findings have confirmed that the crypto-based messaging app, Telegram, has increased its user base in Africa by more than 3 million accounts.
56% of Telegram users in Africa are under 25
The younger generation of Telegram users has contributed to the growth of crypto-based activity in Africa. As per the Bitget report, the majority of Telegram account holders in Africa belong to a group of people under the age of 25. Economic instability has led young Africans to process their digital transactions on Telegram. The availability of banking services in vast regions of Africa has reduced over the years, letting the younger generation of online users get involved in blockchain technology and cryptocurrency to earn their living.
Asian countries have dominated the crypto industry. A large number of crypto companies have expanded their presence in Asia and across the globe by implementing cryptocurrencies and digital transactions into their daily routines. Bitget has stated that close to 90% of cryptocurrency users in Asia are aged between 18-39, capturing the financial markets in Asian countries by a whopping 216% increase in 2024.
African communities are eager to use Telegram for their business needs. Predictions have emerged that by 2025, over 54 million users in Africa might be using cryptocurrency to buy and sell goods and services. Countries like Nigeria and Ghana are taking charge of digitalization in Africa to ensure a secure future for African nations.
Mobile apps are at the forefront of digitalization. Telegram has over 900 million active monthly users worldwide, becoming a prominent app for people in their youth. The United Kingdom has over 6 million monthly users on Telegram while emerging markets such as India have generated 84 million downloads per month.
Telegram can be used on multiple digital devices
Africans enjoy the ease of use that Telegram provides to its customers. People can use Telegram on different digital devices including an Android smartphone, Apple iPhone, iPad, macOS, Linux, and PC. Each chat session on Telegram is synced and allows its users to access chat history on various devices. These messages are coded for encryption and deliver messages faster than other digital communication platforms.
Groups in Telegram can have up to 200,000 members. Africans can invite their friends and family to their network and connect with several crypto-based businesses on Telegram. Customization options in chat can make interactions fun and more engaging for the younger generation of crypto users in Africa. Messages sent and received on Telegram are safe from cyberattacks, turning the mobile app into a reliable platform for people.
All people need is their mobile phone number to access chats on Telegram. Africans can log into their Telegram accounts on multiple devices simultaneously. The API for Telegram is open to developers and enables people to build their own applications that can be integrated with other digital platforms. There are several features on Telegram like check marks and last seen time that can unlock new possibilities for African crypto traders and investors.
Mini apps get an update for Telegram
In November 2024, Telegram released a large update for mini apps that has a fun pack of features. Africans can open mini apps on Telegram in full-screen mode to view applications using the entire screen. Crypto games on Telegram can be played in portrait and landscape orientation with intuitive interfaces and gestures for entertainment. These mini apps can seamlessly function on Telegram to run applications on mobile devices.
VR experiences on Telegram are getting stronger due to device motion tracking. Crypto companies in Africa can develop mini apps for their Telegram users by receiving a ton of information about motion, providing unique controls to applications and games. Simple gestures like locking the screen on mobile devices can prevent Telegram users from screen rotations during their gaming experiences. Placing a shortcut for mini apps on the home screen of a digital device can reduce the time it takes to access applications directly on Telegram.
Developers in Africa can plan for events with mini apps that are dedicated to cryptocurrency holders. Building interactive maps for each digital event can be rewarding for young Africans developing blockchain technology to launch location-based crypto games in the future. Crypto users can send gifts on Telegram to recognize Africans for their online activities. Stars can be spent on Telegram to unlock a variety of achievements like trophies to celebrate winners.
Premium users on Telegram in Africa can change their statuses from mini apps to update their profiles. Mini apps allow its users to create and share media on Telegram. Sending referral codes and memes can take less time on Telegram compared to other leading messaging services.
Economy
Shippers Council Reiterates Promise to Boosting Trade

By Adedapo Adesanya
The Nigerian Shippers Council (NSC) has reiterated its commitment to prioritising shipping activities and promoting importers and exporters in the country.
The Executive Secretary of the Council, Mr Pius Akutah, in a statement on Wednesday, said this after a familiarisation visit to the North East Zonal Directorate in Bauchi State.
The visit marked a strategic step in assessing the activities of the council in the region and reinforcing its role in trade facilitation and port economic regulation.
“The purpose of the visit was to promote regional integration in shipping activities and support exportation.
“This aligns with the current administration’s goal of enhancing the nation’s resources through the blue economy.
“We have had interactive meeting with stakeholders aimed at advancing shipping activities in the region and the role of shippers’ association in representing the interests of importers and exporters.
“The NSC is committed to improving ease of doing business,” he said.
On the Inland Dry Ports project in Bauchi, an initiative by the state government, Mr Akutah said it was laudable as it would attract both import and export activities to the area.
Economy
UBN Property Sinks OTC Bourse by 0.48% at Midweek

By Adedapo Adesanya
UBN Property Plc further sank the NASD Over-the-Counter (OTC) Securities Exchange in the red territory by 0.48 per cent on Wednesday, April 23.
The property investment company lost 7 Kobo of its share value to settle at N2.10 per unit compared with the preceding day’s price of N2.17 per unit.
As a result, the market capitalisation of the bourse went down by N9.19 billion to N1.908 trillion from N1.917 trillion and the NASD Unlisted Security Index (NSI) slumped by 105.70 points to 3,259.08 points from the previous session’s 3,274.78 points.
There was a 500.5 per cent rise in the volume of securities transacted in the midweek session to 1.05 million units from the 174,634 units traded in the previous trading day.
However, the value of transactions decreased by 9.1 per cent to N2.6 million from N2.86 million and the number of deals dropped by 31.3 per cent to 11 deals from 16 deals.
At the close of business, Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units worth N520.9 million, trailed by Okitipupa Plc with 153.6 million units sold for N4.9 billion, and Industrial and General Insurance (IGI) Plc with 71.2 million units valued at N24.2 million.
Okitipupa Plc remained the most traded stock by value on a year-to-date basis with 153.6 million valued at N4.9 billion, followed by FrieslandCampina Wamco Nigeria Plc with the sale of 14.8 million units for N572.0 million, and Impresit Bakolori Plc with a turnover of 533.9 million units worth N520.9 million.
Economy
FG to Sell N1.2trn Bonds in Q2 2025

By Aduragbemi Omiyale
Between April and June 2025, the federal government intends to sell bonds between N900 billion and N1.2 trillion to investors.
This information was revealed by the Debt Management Office (DMO) in its Bond Issuance Calendar for Q2 2025
The sales will take place once in a month, precisely on April 28, May 26, and June 23, according to the data released by the DMO.
It was stated that the debt office will offer the debt instrument in two maturities, with N300 billion and N400 billion offered for sale at each auction.
In April and May, the DMO will reopen the 19.30 per cent FGN APR 2029 and 19.89 per cent FGN MAY 2033 bonds, and in June, it will introduce the FGN JAN 2030 and FGN JAN 2032 and five and seven-year, respectively.
In April, the APR 2029 bond will have a remaining tenor of four years, while the MAY 2033 bond will have six years and one month left.
By May, those terms shorten to three years and eleven months, and six years, respectively. Both bonds retain their original coupon rates of 19.30 per cent and 19.89 per cent.
The DMO has also released details for its April auction. The Federal Government plans to raise N350bn through the reopening of the APR 2029 and MAY 2033 bonds.
According to the circular, N200bn will be offered in the APR 2029 and N150bn in the MAY 2033. The auction will be held on Monday, April 28, with settlement on Wednesday, April 30.
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