International News
South Africa set to license 60 cryptocurrency platforms

South Africa will license about 60 cryptocurrency platforms by the end of the month, putting it among the first nations on the continent to require digital-asset exchanges to have permits to operate.
The Financial Sector Conduct Authority, which gave exchanges until November 30 to apply for licenses or risk facing enforcement action, said more than 300 crypto-asset providers sought approvals.
“We are processing those licensing applications and we’re doing so in a phased kind of manner given the numbers,” FSCA Commissioner Unathi Kamlana said in an interview with Bloomberg.
The regulator opted not to develop a separate framework for crypto operators, and instead will oversee the firms under the existing Financial Advisory and Intermediary Services Act, which focuses on the honesty, integrity, competency and ability of all financial services providers under its so-called fit-and-proper requirements.
“If you wait for the Rolls-Royce kind of regulatory framework, you still have those risks anyway,” Kamlana said, adding that the current law will cover most gaps.
Bitcoin — the world’s largest cryptocurrency — hit an all-time high of US$73 664, bolstered by record-breaking inflows into US exchange-traded funds tied to the unit. Other cryptocurrencies have been similarly lifted by renewed interest in the asset class. Ether traded as much as 3,3 percent higher on Wednesday and has increased about 75 percent this year.
With crypto exchanges falling under the FAIS Act, consumers will also have recourse and protections that don’t exist right now, with the regulator being able to take enforcement action if an operator breaches any of the act’s requirements. –Bloomberg
“As we license and supervise, we will discover that perhaps there are gaps that cannot be closed by the existing regulatory framework, the FAIS Act,” he said. “And we might need to build on that as we discover what those are.”
Several of the continent’s biggest trading venues emerged from South Africa, including Luno — owned by Barry Silbert’s Digital Currency Group Inc — and Pantera-backed VALR.
Other global platforms such as Binance Holdings operate in the country.
Yellow Card Financial, a pan-African cryptocurrency exchange, was the first company on the continent to secure a license, when Botswana issued the permit in 2022.
Bloomberg
International News
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International News
US Based Nigerian Body Builder Michael Chidozie Shot Dead By Wife
HOUSTON, Texas | A woman (Keaiirra Shavoiyae Chidozie) is accused of shooting her husband several times during an argument in their apartment, once in the arm and again in the chest, according to court documents.
The Houston Police Department said officers responded to 2634 Yorktown Street at about 7:35 p.m. on Thursday and found a 26-year-old man shot in the bedroom.
He was taken to the hospital, where he was said to be in critical condition, according to police.
Detectives said that Chidozie and her husband were arguing when things escalated. Officers said her husband followed her into the bedroom and continued to argue before Chidozie grabbed a pistol and allegedly fired multiple shots in fear for her safety.
Police said they found Chidozie and their two children in a parking lot, where she was arrested.
The couple’s children are being cared for by a family member, according to police.
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The family of the late US-based Nigerian bodybuilder, Michael Chidozie has launched a GoFundMe account to raise $70,000 to bring his body to Nigeria for burial.
However, Ashley C who launched a GoFundMe account noted that it was always his dream to return to Nigeria one day and that they were committed to honouring his memory by fulfilling this final wish.
Ashley explained that the family was faced with the daunting task of laying Chidozie to rest in his homeland of Nigeria as well as legal matters that had arisen as a result of his untimely death.
Ashley said the expenses associated with repatriating Chidozie’s remains to Nigeria and organizing a proper funeral service exceed what his lone family member in the United States can manage alone.
Ashley’s message reads, “Dear Friends, Family, and Community, it is with heavy hearts that we come to you today to share the tragic news of the untimely passing of our beloved Chidozie Michael. On March 21st, 2024, Chidozie’s life was abruptly taken from us in a senseless act of violence.
“He was shot four times, sustaining a devastating spinal injury during an argument with his Houston native wife, Keaiirra Shavoiyae, in their own home. The presence of their two young sons, aged 3 and 2, during this horrifying incident has only added to the heartbreak of this situation.
“Chidozie fought courageously for his life, but unfortunately, he succumbed to his injuries in the early hours of April 9th, 2024. His passing has left a profound void in the lives of all who knew and loved him. He was a devoted father, a cherished son, and a dear friend to many. Chidozie’s kind heart, infectious laughter, and unwavering love for his family will forever be remembered and cherished by all who were fortunate enough to know him.
“As we navigate through this unimaginable loss, we are faced with the daunting task of laying Chidozie to rest in his homeland of Nigeria as well as legal matters that have risen as a result of this untimely passing. It was always his dream to return to Nigeria one day, and we are committed to honoring his memory by fulfilling this final wish.
“However, the expenses associated with repatriating Chidozie’s remains to Nigeria and organizing a proper funeral service exceed what his lone family member here in the United States can manage alone. Therefore, we are reaching out to our community, friends, and anyone touched by Chidozie’s story for support.
“Your generous contributions will directly contribute to covering the costs of transporting Chidozie’s body to Nigeria, arranging a dignified funeral service, legal services needed and providing support to his grieving family during this incredibly difficult time.
“We understand that times are tough for many, but no donation is too small. Every contribution, no matter how big or small, will make a significant difference in honoring Chidozie’s memory and providing closure for his loved ones.
“Let us come together as a community to give Chidozie the farewell he deserves and ensure that his legacy lives on in the hearts of those who knew and loved him.”
“Thank you for your kindness, generosity, and unwavering support during this incredibly challenging time,” it adds.ZIMETRO
Business News
Zim, Rwanda explore new areas of cooperation
The 3rd Rwanda-Zimbabwe Business Forum, which opened yesterday in Kigali, marks another significant milestone under the economic diplomacy as the Second Republic gears up efforts to unlock economic opportunities in Africa.
The high-level event, co-organised by ZimTrade and the Rwanda Development Board, brings together businesses, policymakers, and stakeholders from both countries to explore new avenues for collaboration and investment.
Head of Zimbabwean delegation to the forum, Foreign Affairs and International Trade Deputy Minister Sheillah Chikomo, said the programme provides practical solutions to explore in deepening cooperation between the two countries.
“This business forum will offer both countries an opportunity to forge new partnerships and attract foreign investment.
“The following few days will see us exploring more opportunities to delve deeper into practical actions that can be taken in various areas of cooperation including Government and private sector,” she said.
Deputy Minister Chikomo also indicated the importance of the previous programme in promoting exports and meeting national export growth targets.
“In 2023 we achieved US$7.6 billion in exports of goods and services which was 5,2 percent above the targeted US$7.22 billion.
“The increase in exports between Zimbabwe and Rwanda since the beginning of our coordinated efforts in 2021 also contributed to this growth.
“Zimbabwe’s ability to surpass the targeted export figures is a reflection that goes to show how initiatives such as this one can boost trade,” said Deputy Minister Chikomo.
Rwanda Minister of Foreign Affairs and International Cooperation, Mr Vincent Biruta, said the business forum represents the deepening relations between Rwanda and Zimbabwe.
“Your presence here today signifies the deepening of our bilateral relations and the commitment to foster greater economic cooperation between our two nations. In recent years, we have witnessed a notable increase in economic collaboration between Rwanda and Zimbabwe.
“We must seize the occasion this forum presents to foster strategic economic partnerships that will benefit our respective people,” he said.
Mr Biruta also said it is important for the two countries to leverage on areas they enjoy competitive advantages.
“Rwanda and Zimbabwe share a common will for inclusive growth, sustainable development, and entrepreneurship.
“By working together we can unlock new opportunities, accelerate investment flows, and create an environment for businesses to thrive.
“As we navigate a complex global landscape, it is essential to identify and capitalise on emerging trends and market dynamics.
“Rwanda and Zimbabwe, with their unique strengths and capabilities, have much to offer the world. Leveraging our respective comparative advantages, we can create a cycle of growth and prosperity that benefits both nations”, said Mr Biruta. ZimTrade CEO, Allan Majuru said Rwanda presents several opportunities for Zimbabwean businesses and urged companies to take full advantage of business linkages platforms available during the Forum.
Source: Herald