Tech

DeFi Technologies partners Nairobi Securities Exchange to facilitate digital assets trading in the African market

Published

3 months ago

August 13, 2024

Global financial technology company, DeFi Technologies, has announced a partnership between its subsidiary, Valour Inc., the Nairobi Securities Exchange (NSE), and SovFi Inc., to facilitate the creation, issuance, and trading of digital asset exchange-traded products (ETPs) in the African market.

According to Frank Mwiti, the CEO of the Nairobi Securities Exchange, the key objectives of the Memorandum of Understanding (MoU), include facilitating the creation, issuance, and trading of digital asset ETPs on the NSE by leveraging Valour’s extensive expertise in digital assets and ETPs.

“The MOU aims to deploy financial products developed by Valour and SovFi, develop market infrastructure and enhance market access to global capital through tokenized finance primitives and real-world assets.

“The expected outcomes of this MOU are significant. For the NSE, the collaboration will enhance product offerings, attract a broader investor base, and benefit from increased trading volumes and market activity, thereby further solidifying its role in the growth of Kenya’s economy and as leading African securities exchange.

“This collaboration with Valour and SovFi is set to bolster NSE’s position as a leading financial hub in Africa, offering innovative investment opportunities to a diverse range of investors and contributing significantly to the growth of Kenya’s economy.

“We are thrilled to embark on this groundbreaking partnership. This collaboration aligns perfectly with our vision to position the NSE as a leading financial hub in Africa.

“The passporting of Valour’s ETPs to the NSE will significantly enhance our product offerings. By facilitating the creation, issuance, and trading of digital asset ETPs we are opening new avenues for both local and international investors.

“This move will not only diversify our market but also contribute to the growth of Kenya’s economy. We look forward to leveraging Valour’s expertise in digital assets and SovFi’s innovative financial solutions to bring cutting-edge investment opportunities to our market,” he added.

Also reacting to the MoU, Olivier Roussy Newton, Chief Executive Officer of Defi Technologies said:

“This MOU marks a significant milestone in Valour’s mission to expand access to digital asset investment products globally.

“By leveraging our expertise in issuing innovative ETPs and facilitating the passporting of our financial instruments to the NSE, we aim to provide investors with secure and regulated exposure to the dynamic world of digital assets.

“Our collaboration with the NSE and SovFi will enable us to expand our product offerings and market reach in Africa, while contributing our technical knowledge and experience in digital asset-based financial products to develop market infrastructure.”

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

4 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

1 day ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.