StarkWare, an Israeli blockchain company valued at $8 billion, has launched a $4 million fund to support pre-seed and seed-stage African startups developing blockchain solutions. The fund will provide grants of up to $150,000, with larger investments available for startups building on StarkNet, StarkWare’s decentralized application platform on the Ethereum blockchain. The initiative targets high-potential…

Ugandan authorities have arrested nine officials from the Ministry of Finance following a major cyberattack on the Bank of Uganda, which led to the loss of USh 62 billion ($16.87 million). Among those detained are senior Treasury Department officials, raising concerns about potential internal corruption or negligence. The cyber breach, first reported in November 2024,…

Nigeria’s Central Bank (CBN) has reinstated Jimoh Musa Itopa, a former director in the Payments System Management Department (PSMD), who was among 17 directors dismissed in 2024. His return marks a significant leadership shift in a department that oversees payment switching companies, agent banking, cashless policies, and open banking initiatives. The reasons behind Musa’s reinstatement…

A Federal High Court in Abuja has scheduled March 20, 2025, to hear a case filed by Binance executive Tigran Gambaryan against Nigeria’s National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC). Gambaryan claims he was unlawfully detained in Nigeria and is seeking compensation for the hardship he endured. The case stems…

Smart Africa, a pan-African initiative focused on digital transformation, has launched the Africa AI Council to drive artificial intelligence (AI) adoption and innovation across the continent. The Council will act as a central body that brings together governments, industry leaders, and academic institutions to develop policies, foster innovation, and create an environment that supports AI-driven…

Nigeria’s Securities and Exchange Commission (SEC) plans to accelerate the issuance of cryptocurrency licenses in 2025 as part of its efforts to regulate the market and protect consumers. This move follows the launch of the Accelerated Regulatory Incubation Programme (ARIP) in June 2024, which has already granted provisional licenses to Nigerian crypto startups like Quidax…