Fintech companies are leveraging digital technology to address challenges in healthcare, agriculture, and e-commerce. Many countries in Africa are looking for means to grow their economies to beat the pandemic-era downturn and debt vulnerability. Sopnendu Mohanty, chairman of the Board, Elevandi and the chief FinTech officer, at Monetary Authority of Singapore, joined us in studio to share his thoughts on the South-South partnership and how it can boost the digital economy in African countries.
South Africa: Livestock theft costs farmers over $100m
South African cattle farmers have raised concerns over the theft of livestock by a cross border organized crime syndicate. The country’s annual livestock theft losses are estimated to be over 100 million US dollars. While this issue persists, farmers have put their hope on tech and apps to help in tracking livestock in real time. We find out how viable this solution is.
Nigeria this week outlawed the operations of Binance in the country, continuing a trend where regulators all over the world have been reluctant to embrace, digital currencies. Nigeria has particularly had a cat and mouse story with digital currencies which are popular with its young, tech savvy population. We have more to this story in the link.