Browsing: Lightning Network

  • AfCFTA aims to create a new borderless market that connects 55 different countries with a combined GDP of US$3.4 trillion and a population of about 1.4 billion people
  • One of the challenges that frustrate the realization of the AfCFTA dream is the transaction of cross-border payments within Africa, which are slow and costly
  • Bitcoin would begin operation in facilitating cross-border payments immediately as traders only need a crypto wallet

The African Continental Free Trade Area, if implemented successfully, promises an economic fortune in Africa.

The free trade area will awaken the untapped potential and increase prosperity through increased intra-African trade. Currently, intra-African trade is meagre, contributing to only 14.4 per cent of Africa’s total exports.

A statement by the United Nations Conference on Trade and Development (UNCTAD) says the AfCFTA has the potential to increase intra-African trade by up to 33 per cent and cut the continent’s trade deficit by …