DON'T MISS : Talking Africa Podcast – Mozambique's insurgency: After Palma, what comes next?

Kenya, Nigeria, Morocco…Africa is a world leader in cryptocurrencies

By Yara Rizk
Posted on Thursday, 30 September 2021 19:01

Between the end of 2019 and the second quarter of 2021, overall cryptocurrency ownership increased 24-fold. In the space of one year, the same rate increased by 880%. Ozan KOSE / AFP)

In August 2021, sub-Saharan Africa surpassed North America by acquiring more cryptocurrencies than any other region.

In the last 30 days, users based in sub-Saharan Africa acquired the equivalent of about $80m worth of cryptocurrencies, according to UsefulTulips, a company specialising in analysing this market.

This represents a 19% increase on the monthly average of $67m over the past 12 months and more than the $79m that North America acquired.

Sub-Saharan breakthrough

From 6 to 12 September, sub-Saharan users acquired the equivalent of $20.5m, compared to $20m in North America.