African Folder

Author: Kunle

  • South African Altvest Capital Becomes First African Publicly Listed Company To Invest In Bitcoin

    South African Altvest Capital Becomes First African Publicly Listed Company To Invest In Bitcoin

    Johannesburg-based Altvest Capital has etched its name in the history books as the first publicly listed company on the continent to embrace Bitcoin as a treasury asset. The investment firm recently snapped up one Bitcoin—clocking in at roughly 1.8 million rand ($98,200)—and isn’t stopping there. With eyes on a bigger prize, Altvest is now chasing regulatory green lights to raise $10 million through a share sale, all to beef up its Bitcoin stash.

    Warren Wheatley, the firm’s CEO, isn’t mincing words about this bold pivot. “Bitcoin is our focus—no detours into altcoin territory,” he declared, channelling a laser-like dedication to the world’s top cryptocurrency. It’s a page straight out of the MicroStrategy playbook, the U.S. firm that turned heads in 2020 by piling into Bitcoin as its go-to reserve asset. For Altvest, the move is less about chasing crypto hype and more about locking in shareholder value, shielding against the South African rand’s wobbles, and tapping into a digital store of value that’s gone global.

    South Africa’s crypto scene is heating up, and Altvest Capital isn’t jumping in blind. The country’s regulators are warming to the digital shift—back in March 2024, the Financial Sector Conduct Authority waved through 59 crypto outfits to operate legally. By October, over 31,000 merchants were cashing in on crypto payments via platforms like Luno, proof that Bitcoin and its ilk are weaving into the nation’s economic fabric. Altvest’s timing couldn’t be sharper, riding a wave of growing acceptance that’s turning heads from Cape Town to Nairobi.

    READ MORE: Raenest Secures $11 Million Series A Funding To Expand Into US And Egypt

    This isn’t just a win for Altvest—it’s a neon sign for Africa’s corporate crowd. As the rand grapples with depreciation and economic uncertainty loom, Bitcoin’s allure as a hedge is tough to ignore. Wheatley’s crew isn’t gambling on a whim; they’re betting on a future where digital assets could redefine how firms across the continent stash their cash. Sure, crypto’s wild price swings keep sceptics on edge, but Altvest’s calculated plunge signals a broader trend: companies worldwide are eyeing Bitcoin as a legit piece of the financial puzzle.

    What’s next? If Altvest Capital pulls off its $10 million raise, it could spark a domino effect. Picture this—other African firms, watching from the sidelines, might ditch the old-school Treasury handbook and dip their toes into the crypto pool. With regulators steadily carving out a clearer path, the continent’s financial innovators could find themselves at a tipping point. Altvest isn’t just holding Bitcoin; it’s holding a torch—one that might just light the way for a whole new era of asset management in Africa.

  • Nigeria To Tax Cryptocurrency Transactions Amid Revenue Push

    Nigeria To Tax Cryptocurrency Transactions Amid Revenue Push

    Nigeria is set to introduce taxes on cryptocurrency transactions as part of a broader strategy to increase government revenue, according to the country’s Securities and Exchange Commission (SEC). A bill outlining the taxation framework is currently under review and is expected to pass within the first quarter of the year, Bloomberg reports.

    The SEC aims to integrate eligible crypto transactions on regulated exchanges into the formal tax system, citing the potential for “substantial” revenue generation, though exact figures were not disclosed. This move aligns with President Bola Tinubu’s fiscal reforms, which focus on reducing Nigeria’s budget deficit and stabilizing the country’s economy.

    Nigeria has emerged as one of Africa’s largest cryptocurrency markets, fueled by high inflation and a depreciating naira. Many Nigerians have turned to digital assets as a hedge against economic instability. However, this surge in crypto adoption has also drawn increased regulatory scrutiny.

    READ MORE: Afrobeats Adds $2B To Global Music Economy, Contributing Approximately 7.69%

    In addition to taxation, the SEC plans to issue more licenses for centralized crypto exchanges, arguing that they provide better monitoring and investor protection compared to decentralized alternatives. Regulators anticipate that centralized platforms will gain traction among Nigerian investors seeking security and compliance assurances.

    The announcement follows recent developments in Nigeria’s cryptocurrency landscape, including the release of a detained Binance executive and criticism from U.S. lawmakers over the government’s handling of the crypto sector. These events signal growing international attention on Nigeria’s approach to digital asset regulation.

    With a proposed 2025 budget of 54.99 trillion naira ($36.4 billion), the Nigerian government sees crypto taxation as a viable revenue source. As policymakers move forward with formalizing this framework, the impact on Nigeria’s crypto ecosystem remains to be seen.

  • Tems, Meek Mill And Others Set To Perform At The Roots Picnic Festival

    Tems, Meek Mill And Others Set To Perform At The Roots Picnic Festival

    Nigerian singer Tems, American rapper Meek Mill, and more are set to take the stage at the Roots Picnic Festival in Philadelphia, Pennsylvania. The festival, curated by the legendary hip-hop band The Roots, will take place at Fairmont Park from May 31 to June 1, marking its 17th edition.

    Roots Picnic is known for blending hip-hop, R&B, soul, and live podcasts, creating a unique cultural experience. This year’s lineup features a stellar mix of artists, including neo-soul icon D’Angelo performing with The Roots, rock legend Lenny Kravitz, and an array of contemporary stars like Latto, Glorilla, Miguel, and Kaytranada.

    Two-time Grammy winner Tems continues to solidify her global presence, following a successful world tour supporting her debut album Born in the Wild. She has previously performed at major festivals such as Coachella and Glastonbury, further establishing herself as a festival favourite. Her inclusion in this year’s Roots Picnic lineup underscores the growing influence of African artists on the global music scene.

    British-Sudanese artist Elmiene, who gained recognition with his EP For the Deported—a poignant tribute to those affected by the Sudanese civil war—is also set to perform. His breakout single “Golden” helped propel him to prominence, and fans can expect an emotionally powerful performance at the festival.

    READ MORE: Warner Music And Audiomack Expand Licensing Deal To 17 New African Countries

    Over the years, African artists have made their mark on Roots Picnic. Although Tyla had to cancel her anticipated set last year due to injury, Wizkid delivered an unforgettable performance alongside Mary J. Blige and Summer Walker in 2022.

    With an impressive and diverse lineup, the 2025 Roots Picnic Festival promises to be an unforgettable celebration of music and culture.

  • Uganda’s Jacob Kiplimo Becomes The First Person To Run A Half Marathon Below 57 Minutes

    Uganda’s Jacob Kiplimo Becomes The First Person To Run A Half Marathon Below 57 Minutes

    Ugandan long-distance sensation Jacob Kiplimo made history on Sunday (February 16, 2025) at the eDreams Mitja Marató Barcelona by Brooks, becoming the first person to run a half marathon in under 57 minutes. The 24-year-old shattered the previous world record by 48 seconds, clocking a stunning 56:42 at the World Athletics Gold Label event.

    Kiplimo’s performance erased the previous world record of 57:30, set by Ethiopia’s Yomif Kejelcha, marking the largest single improvement in the history of the men’s half marathon record. The race unfolded under perfect conditions, with temperatures at 13°C and no wind, setting the stage for a historic achievement.

    Kiplimo’s dominance was evident from the early stages. Kenyan pacemaker Edwin Kimosong initially set a 2:45/km pace, but Kiplimo quickly took control just eight minutes into the race, picking up the tempo in pursuit of a world record. At the 5km mark, he clocked 13:34, already inside world record pace. His 10km split of 26:46 put him well ahead of the record trajectory, and by 15km, he set a world best of 40:07, further solidifying his incredible form.

    With every passing kilometre, Kiplimo continued to push the limits, covering the second half of the race at an astonishing pace. His 20km split of 53:42 confirmed the inevitable, and he crossed the finish line in 56:42, obliterating the previous mark. Behind him, Geoffrey Kamworor of Kenya finished second in 58:44, while Samwel Mailu took third in 59:40.

    READ MORE: Meet Nigerian Destiny Kosiso, Barcelona’s 9-Year-Old Mbappé

    “It has been the perfect race,” said Kiplimo. “Ideal temperature, no wind at all, fantastic circuit – everything went better than expected. The pacemaker set the agreed 2:45 pace, but I found myself full of energy and decided to inject a brisker rhythm from the third kilometer. I never imagined I would break the 57-minute barrier; that’s astonishing.”

    Kiplimo, a two-time world cross-country champion, also confirmed that he will now focus on his marathon debut at the London Marathon on April 27.

    In the women’s race, Kenya’s former world record-holder Joyciline Jepkosgei delivered a dominant performance, winning in a lifetime best of 1:04:13. The 31-year-old defended her title in style, setting a course record and moving to seventh on the all-time list.

    Jepkosgei pulled away from the competition early, reaching 5km in 15:25 before hitting the 10km mark in 30:08, already 37 seconds ahead of her nearest rival, Gladys Chepkurui. By the 15km point, her lead had extended to over a minute, and she powered home unchallenged to secure back-to-back victories in Barcelona.

    “It’s my third year in a row competing here in Barcelona,” Jepkosgei said. “I managed a runner-up place and two wins, so I’m more than satisfied. In addition, I have bettered my PB, which was not easy, so I can’t ask for more. I hope to return next year. I’m also impressed by Kiplimo’s great achievement.”

  • Crypto Market Slips As Trading Volume Drops To $61.3 Billion

    Crypto Market Slips As Trading Volume Drops To $61.3 Billion

    The cryptocurrency market has seen a downturn in the last 24 hours, with trading volume falling by 2.83% to $61.3 billion. Bitcoin (BTC) remained volatile, fluctuating between $96,051.56 and $97,672.65, while Ethereum (ETH) dropped 1.40% to $2,660.60. The overall market capitalisation also declined by 1.32% to $3.19 trillion.

    Bitcoin has been trading within a tight range, losing 1.32% since yesterday. Despite this short-term pressure, institutional interest continues to grow, with Japanese investment firm Metaplanet announcing plans to expand its Bitcoin holdings from 1,762 BTC to a target of 10,000 BTC by the end of 2025.

    Ethereum followed Bitcoin’s lead, falling 1.40%, while XRP recorded a sharper decline of 3.55%. Solana took the biggest hit among major cryptocurrencies, plunging 6.18% to test a critical support level at $181.

    READ MORE: Nigeria Leads The Meme Coin Craze

    Meme coins were not spared in the downturn. Dogecoin (DOGE) slipped nearly 2% to trade at $0.26, while Shiba Inu (SHIB) dropped over 1% to $0.00001592. TRUMP coin fell 3% to $18.36. Meanwhile, a few altcoins bucked the trend, with Sonic (S) gaining 4% to hit $0.544, PancakeSwap (CAKE) rising 3% to $2.74, and The Graph (GRT) climbing 3% to $0.1417.

    Among the hardest-hit tokens, Jupiter (JUP) suffered a 10% loss, dropping to $0.8438, while Litecoin (LTC) and Raydium (RAY) also struggled, with LTC falling 8% to $124.52 and RAY declining 7% to $4.91.

    Adding to market developments, crypto exchange FTX is set to begin repaying creditors with claims under $50,000 starting February 18. The payments, facilitated by BitGo and Kraken, are expected to restore some investor confidence.

    In contrast to the broader market slump, the Grok token saw an 82% surge following Elon Musk’s confirmation of the Grok 3 AI launch. Traders rushed to capitalize on the hype, pushing the token’s market cap to approximately $33.51 million. At last check, Grok was trading at around $0.0053, despite having no official ties to Musk’s AI venture, xAI.

    With Grok 3 set to debut on Monday at 8:00 PM Pacific Time, speculation remains high. However, questions persist about the sustainability of the token’s rally, given its lack of fundamental backing.

  • Meet Ibrahim Rabbaj, Chelsea’s 16-Year-Old Moroccan Messi

    Meet Ibrahim Rabbaj, Chelsea’s 16-Year-Old Moroccan Messi

    Every season, new talent emerges in the ever-changing world of youth football, but few have Ibrahim Rabbaj’s raw skill, intelligence, and promise. At only 16 years old, this young English forward has already created a reputation for himself in Chelsea FC’s elite academy. Rabbaj, known for his spectacular dribbling, remarkable vision, and outstanding playmaking talents, is quickly emerging as one of English football’s most fascinating young possibilities.

    Early Life and Football Journey

    Born on January 1, 2009, in London, England, Ibrahim Rabbaj’s passion for football was evident from an early age. Growing up in the football-rich environment of England, he displayed an extraordinary ability to control the ball, manoeuvre past defenders, and create goal-scoring opportunities. His natural talent quickly caught the attention of top scouts, leading to his induction into Chelsea FC’s renowned youth academy in 2020.

    Since joining Chelsea, Rabbaj has been honing his skills under the guidance of elite coaches, learning the tactical nuances of the game while developing into a complete forward. His rapid rise through the academy ranks is a testament to his dedication, technical prowess, and relentless work ethic.

    Dominating at Chelsea’s Youth Academy

    Rabbaj’s performances at Chelsea’s youth levels have been nothing short of phenomenal. His playing style, often compared to football icons like Lionel Messi, is characterized by his quick feet, balance, agility, and an uncanny ability to take on defenders with ease.

    In the 2023-2024 season, Rabbaj delivered outstanding performances across multiple age groups:

    • Under-18 Level: Despite being one of the younger players in the squad, Rabbaj showcased maturity beyond his years, contributing significantly with goals and assists that helped propel his team to crucial victories.
    • Under-15 Level: He put up staggering numbers, scoring 52 goals and providing 60 assists in just 40 matches—an astonishing feat that highlights both his goal-scoring instinct and playmaking ability.

    His ability to perform consistently at such a high level has placed him firmly on the radar of not just Chelsea’s first-team coaches but also football analysts and scouts looking for the next breakout star.

    Ibrahim Rabbaj and Hakim Ziyech
    Ibrahim Rabbaj and Hakim Ziyech [Credit: FootballTalentScout]

    What Makes Ibrahim Rabbaj a Standout Talent?

    Several key attributes set Ibrahim Rabbaj apart from his peers and make him an elite prospect:

    1. Dribbling Mastery: His exceptional ball control allows him to weave past defenders effortlessly, making him a constant attacking threat.
    2. Vision and Creativity: Rabbaj has a remarkable ability to read the game, anticipate movements, and create opportunities for teammates with pinpoint passes.
    3. Composure in Front of Goal: Whether finishing from tight angles or converting from distance, his calmness under pressure makes him a lethal goal scorer.
    4. Football Intelligence: Beyond his technical ability, Rabbaj possesses a deep understanding of space, movement, and positioning—qualities that separate good players from great ones.
    5. Work Ethic and Mentality: His relentless drive to improve and determination to succeed suggest that he has the mentality required to reach the highest levels of professional football.
    READ MORE: Meet Nigerian Destiny Kosiso, Barcelona’s 9-Year-Old Mbappé

    Future Prospects: A Path to Stardom

    Given his rapid development and stellar performances, it’s only a matter of time before Ibrahim Rabbaj makes the leap to senior football. Chelsea FC has a rich history of producing world-class talent through its academy, with players like Mason Mount, Reece James, and John Terry having risen through the ranks to establish themselves at the highest level. Rabbaj appears to be following a similar trajectory.

    His next step could involve breaking into Chelsea’s Under-21 squad before earning opportunities to train with the senior team. With his skillset and relentless ambition, it wouldn’t be surprising to see him making his first-team debut in the near future.

    Additionally, Rabbaj’s rise has not gone unnoticed by England’s national team setup. Given his performances at the youth level, he could soon receive a call-up to England’s U17 or U19 squads, paving the way for a potential senior team debut in the future.

    The Road Ahead: Will He Become Chelsea’s Next Superstar?

    As football fans and analysts keep a close eye on his progress, one burning question remains: Will Ibrahim Rabbaj become Chelsea’s next homegrown superstar?

    If he continues to develop at his current rate, there is no doubt that he has the potential to establish himself among the top forwards of his generation. His combination of technical ability, football IQ, and a winning mentality makes him an exciting prospect for Chelsea and English football as a whole.

    Conclusion

    Ibrahim Rabbaj is a name that football fans should remember. At just 16, he has already demonstrated qualities that make him one of the most promising young talents in England. With a bright future ahead, the football world eagerly awaits his next steps—whether it be earning a spot in Chelsea’s first team, making waves in European football, or representing England on the international stage.

  • Meet Nigerian Destiny Kosiso, Barcelona’s 9-Year-Old Mbappé

    Meet Nigerian Destiny Kosiso, Barcelona’s 9-Year-Old Mbappé

    Young star Destiny Kosiso emerges as the next major player in youth football. Nine-year-old Nigerian-born sprinter Destiny Kosiso creates a buzz as he competes at FC Barcelona’s esteemed youth academy La Masia. The growing recognition of Kosiso as one of football’s promising young talents stems from his strong goal-scoring abilities and his resemblance to international soccer great Kylian Mbappé.

    Early Life and Background

    He grew up in Nigeria as the youngest of three Barcelona youth academy brothers including David Obinna and Divine Ikenna. Despite his playing career taking place in the third division of African football, their father remains proud that his sons achieved success within a better league where he highlights his growing star’s attributes.

    His previous development during the important early years formed a base which propelled him to excel in one of football’s premier academy systems.

    A Record-Breaking Performance at La Masia

    The Nigerian football prodigy whose full name is Destiny Kosiso Ejiofor John impresses everyone during his field performances through spectacular achievements. During the 2023-2024 season, Barcelona’s youth programs have depended heavily on Destiny Kosiso who demonstrates elite talent consistently.

    READ MORE: African Players Who Won The Champions League
    • Under-10 Level: The records sit spectacularly when we analyze that he managed to score 100 times in 27 games leading multiple scouts and footie fans to elevate their attention.
    • Under-12 Level: His strong game performance included scoring 31 goals across 14 matches where his team ran an unbeaten run.

    The goal/match statistics demonstrate how Border knows where to shoot while showing his potential for existing at the top level of the sport.

    Playing Style: Fast, Agile, and Deadly in Front of Goal

    One of the defining traits of Destiny’s playing style is his blistering pace. His speed on the field, coupled with his sharp goal-scoring instincts, have led many to draw comparisons to Kylian Mbappé. Destiny’s agility and vision make him a constant threat to opposing defenses, and his ability to make clinical finishes in front of goal sets him apart from many of his peers.

    What Lies Ahead for Destiny Kosiso?

    Destiny Kosiso shines at La Masia creating an optimistic outlook for his forthcoming career in professional football. The comprehensive training program at one of the leading world youth academies allows him to develop his skills so remarkably that top football clubs and scouts naturally become drawn toward him.

    Destiny continues to focus exclusively on his advancement at Barcelona and global football fans await his path toward becoming a recognized international star.

    Conclusion

    People will remember Destiny Kosiso by his name. Using his athletic background alongside La Masia guidance he takes dedicated steps toward becoming a future legend of world-class football. Future fans can already glimpse the development of a legendary figure through every progression during his journey.