Economy
Yellow Card Gets Virtual Asset Service Licence in Botswana
By Adedapo Adesanya
Pan-African cryptocurrency company, Yellow Card, has made another significant stride in the industry, becoming the first cryptocurrency company on the continent to be granted a Virtual Asset Service (VAS) Provider licence to operate in Botswana.
The licence, in accordance with Section 11 of the Virtual Asset Act, 2022, was issued by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) on September 29, 2022, and will become the standard for crypto operations in the country.
Speaking on this, Mr Chris Maurice, CEO and co-founder of Yellow Card, said that this is a monumental moment for the company, its customers, investors and the crypto industry as a whole as it positively impacts everyone across the value chain.
“This opens up greater channels of expansion with regards to payment partners, banking and expanding our client base across Africa.
“This will further show regulators in other markets that we are not just any other cryptocurrency company – we are pioneering, pushing boundaries and setting the standard. All the more reason for them to work together with us as well,” he said.
The company noted that this opens up greater channels of expansion with regard to payment partners, banking and expanding our client base across Africa.
Yellow Card complies with global AML, Sanctions, FATF Travel Rule requirements, and KYC of all customers across all jurisdictions.
The company is also registered on GoAML and with local Financial Intelligence Units in most of its jurisdictions to help report on AML, Sanctions, and Financial Crime matters. The company also complies with the US Foreign Corrupt Practices Act.
Botswana is one of a few countries in the world taking significant steps to implement tighter regulations around cryptocurrencies and digital tokens. Previously, the Bank of Botswana warned of the risks of investing in unregulated cryptocurrencies. And now, with the licence in place, it will be more difficult for those who masquerade as legitimate Virtual Asset Service Providers to scam people.
Although Botswana has a small population, they boast a significantly strong purchasing power due to the Pula’s strength relative to other African currencies. When it comes to digital innovation, citizens have a high-risk tolerance and are always looking for the next big thing in the digital space.
That said, the appetite for innovation and the challenges ordinary citizens face due to the lack of access is a massive gap in the Botswanan market that Yellow Card is catering to.
On his part, Mr Keletso Thophego, Botswana Country Manager for Yellow Card, says, “The majority of the population is unbanked because of the increasing difficulty of getting bank accounts for the average people who do not have payslips. There’s no doubt that because of blockchain technology, we have been able to cater to the unbanked in a faster and more efficient way.
With the new licence in place, the future of cryptocurrency trading and other digital tokens looks positive.
Yellow Card remains one of the most reliable, secure, fastest and licensed crypto exchange platforms on the continent, allowing Botswana to buy and sell Bitcoin, Ethereum, and USDT at the best rates with Pula.
In 2022, Yellow Card announced its Series B fundraise of $40 million Series, bringing their total raised to $57 million—the most by any African cryptocurrency company.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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