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ETHSafari: A journey into the present and future of crypto in East Africa

Kenya recently hosted an Ethereum (ETH) festival, ETHSafari, also known as the greatest ETH event which attracted numerous crypto experts and enthusiasts in Africa. The event was a week-long extravaganza stretching from 18th to 24th September 2022. The event can be equated to crypto Nyege Nyege, a festival built on love, resilience, and a strong passion for crypto. 

ETHSafari is a combination of two words: ETH, which in the crypto world symbolizes Ethereum, and Safari which is “journey” in Swahili hence, as the name implies, we were taken on a journey of understanding the present and future of decentralization. I must say, the journey was a strong magnetic pull into the crypto world.

With a special emphasis on the benefits of Web3 and blockchain, the event brought together an auspicious group of over 1,000 people from Africa and around the world to learn, hack, discuss and build a better-decentralized present and future from the heart of East Africa and more so, celebrate the Ethereum ecosystem.

Polygon, Celo, Emurgo Africa, Ethereum foundation, World Coin, Filecoin foundation, Algorand,  UTU, African Blockchain Institute, Bitlipa, Impact Plus, DAO planet, and Encode Club were some of the partners and sponsors of ETHSafari.

The 7-day event was filled with different experiences exploring the crypto, blockchain, and NFT industries. I, for one, could not afford to miss this event, and will graciously proceed to update you on the events that took place. So, let me take you on the ETHSafari, the greatest Ethereum event in the world.

Day 1:
On 18th September, the ETHSafari doors opened with an Artstorm bus tour and an ETHSafari Hackathon hosted in partnership with Encode club. My first few hours at the venue saw at least a dozen sociable strangers at the festival greeting me with a spontaneous “hi” accompanied with swift hugs and handshakes.

The hackathon was launched for startups creating great ideas and solutions with Web3 technology. Some of the hackathon challenges included the Coinbase wallet challenge which consisted of building Dapp solutions that can help bring the next 100 million users into Web3, the Filecoin challenge which required innovators to build solutions that integrate Filecoin, and the tenderly challenge which required creating solutions to any engineering problem in the Web3 space.

Day 2 and 3

On Day 2 and day 3, we managed to catch a number of side events, including a boot camp hosted at Afyarekod campus in Nairobi by Impact plus, community meetups and activities in Mukuru Kayaba and Kibera led by Grassroots Economics, and a thrilling Artstorm NFT artists exhibition. 

At the bootcamp, Impact plus showcased the different solutions that the company has been able to innovate with blockchain. The enterprise explained that it is using blockchain technology to pave the way toward solving fundamental societal problems. Impact Plus also stated that it seeks to increase the number of women in tech careers because women are confident and can play a vital role in the industry.

During the community meetups, we were taken to local communities to explore how small businesses are utilizing blockchain technology to advance their businesses and more so for financial inclusion. We engaged with a few small business owners who commented that with the Community Inclusion Currency (CIC) offered by Grassroots Economics, they have been able to directly connect with their target audience, which is the low-income earners.

“We have been able to directly meet our customers through this platform. In addition, we have been able to earn from the Sarafu token through the discounts and the vouchers given when you sign up on the system.” Nancy Njambi, a small business owner.

Day 4:

On day 4, we were blown away by the Trust graphic novel and motion comic launch party led by Anne Connelly and Graphics illustrator and author, Chief Nyamwenya. The graphic novel, TRUST is an interesting read of a young whistleblower, Moraa, who uncovers a plot by one of the most powerful men in the country to illegally acquire the oil-rich Olorur Valley in Wahengaland. With the help of her community and blockchain technology, she goes on a perilous journey to protect her homeland, the last autonomous region in the country from cultural and ecological destruction at the hands of the ruthless oligarch. The graphic novel hopes to teach younger children about the benefits of blockchain technology.

Day 5:

On Day 5, we were engaged in a 6-hour blockchain tour at Madaraka express, from Nairobi through the Kenyan Savannah and Tsavo National Park with views of Mt. Kilimanjaro, to Mombasa, where we finally settled in Kilifi county. We had an actual safari on the train. We were astonished by the sight of the Kenyan Savannah and giraffes, elephants, and zebras in Tsavo National park. 

A two-day conference hosted at Beneath the Baobabs in Kilifi followed. This was an unconventional setup in a  Baobab forest.

Photo Credit: ETHSafari

A few visitors chose to stay in camp tents in the Baobabs while others chose to reside in the hotels nearby with a view of the beach and the Indian ocean. The attendees were all given tags and T-shirts for easy identification.

The conference convened global and local players and it aimed at strengthening bonds in the crypto ecosystem. As an attendee, it was hard to not embrace the infectious free-spirited vibe at Beneath the Baobabs. People were laid-back, extremely nice, kind, and sociable. 

Photo Credit: ETHSafari

The conference consisted of different panel discussions, and exhibitions from different ecosystem players such as Celo, Impact plus, Near Protocol Kenya, and BlackRhino VR, among others. Some of the topics discussed included: opportunities for brands and creators in the open metaverse, creating a regenerative economy through Defi in Africa, breaking up the Web3 eco chamber, sustainable Defi tokenomics, diversity in Web3, NFTs in East Africa, and engaging children in blockchain technology.  

Personally, I found the event quite a success, insightful, and much-needed enlightenment for a young crypto enthusiast like myself.

Other participants shared their feedback on Twitter, appreciating ETHsafari for planning the riveting experience.

Some of the industry players also expressed that the meetup was important, especially because there is a gap to fill in ecosystem building, especially in the crypto industry. 

Ethereum Foundation Africa Fellow and an instigator of ETHSafari, Benson Njuguna said,

“ETHSafari is a one-of-a-kind ETH event, the first of its kind in East Africa supported by ecosystem builders and platforms across the globe and within Africa. The huge community support shows there’s huge interest in the space and we’re excited to be here in 2022. We have come to fill a gap in ecosystem building while setting the stage for many future ETHSafari events around the continent.”

However, many participants were left wondering whether this exciting experience will be hosted more often, and periodically either annually or bi-annually. ETH Safari is yet to confirm when #ETHSafari2023 will be hosted.

The event concluded with an action-packed festival with cocktails. ETH Safari lived up to being a jaw-dropping experience, especially for those exploring the crypto journey. 

Photo Credit: ETHSafari
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Business

Tezos Uganda Hosts Tezos Kampala Ideathon

Tezos Uganda recently organized the Tezos Kampala ideathon for Ugandan innovators. The initiative was themed, “Solving real-world problems on the Tezos Blockchain” and it was hosted on the 24th of September at The Innovation Village, a hub for innovators coming up with solutions to challenges that we are facing in our society today. 

The physical program focused on scouting for developers that can create innovative ideas that are built on the Tezos blockchain. 

Tezos stated in its announcement, “ The goal is to develop MVPs of the best ideas from the ideathon and submit them for funding to the Tezos International foundation. The prize funding is 1 million Uganda Shillings worth of XTZ.”

The blockchain platform added that the ideathon is an opportunity for developers to showcase original thinking and problem-solving aptitude for everyday challenges while leveraging the Tezos blockchain.

According to Elias Hezron, a Blockchain Developer and Co-founder of Block bunch, there were 5 teams that pitched remarkable ideas and they are all to receive part of the prize.

Elias Hezron, Blockchain Developer and a judge at the ideathon.

Some of the ideas pitched include a virtual card that enables seamless payments through fiat and cryptocurrency pitched by Afro tech soldiers, Te-Sacco project, an enterprise that aspires to transform SACCOs through smart contracts, Tonfeera vercel application, a system that ensures efficiency and authenticity through blockchain technology, DivaGRO, a regenerative finance blockchain platform and a tokenization system that aspires to advance land registration in Uganda.

TE-SACCO project pitching their idea.

He also added that this is an opportunity for students and developers to be introduced to Tezos blockchain and more so be able to contribute to it.

The Tezos Ugandan community led by Danson Twesigomwe, also emphasized that the ideathon kickstarted its mission to introduce core fundamentals behind the Tezos blockchain and also guide participants on how they can leverage technology while creating solutions. 

Danson Twesigomwe, Community Lead, Tezos Uganda

Tezos is an open-source blockchain that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts.  Tezos blockchain has a native cryptocurrency called the Tez.

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Cyberchain conference 2022 to be hosted in Abuja

Stakeholders in Blockchain technology, as well as cybersecurity, are preparing for a cyberchain conference in Abuja to be held on October 22, 2022. The conference, the fourth in the series of Cyberchain national tour that started in March with the theme: “Embracing the Metaverse Economy”  is aimed at creating awareness about cybersecurity and blockchain technology.

The conference will feature blockchain, cybersecurity discussions, and recognition awards.

Jude Ozinegbe, a Digital Transformation and Blockchain Consultant and the Founder of Cyberchain said, “Cyberchain was born out of the need to ensure Nigerians get proper sensitization about the numerous benefits of the digital economy, which includes but is not limited to creating more jobs for Nigerians, ease of doing business, transparent governance, safe online presence and even placing Nigeria on the global map by creating world-class projects that contribute to the nation’s GDP”

Some of the speakers for the Abuja conference include Mr. Mohammed Jega, Founder at Domineum Blockchain, Mr. Adedeji Owonibi, Founder at Convexity and A&D Forensics, and Mr. William Phelps, Investment Manager at Adaverse among others.

Nollywood ace actress and business tycoon, Mimi Orjiekweng will also be making an appearance at the Lagos event and present prizes at the flagship Cybersecurity Hackathon dubbed: “Cyberthon” where winners will walk away with over N1,000,000 and other gifts for their performance at the ethical hacking competition, supervised by Digital Encode Limited.

Cyberchain embarked on a national tour this year starting with the City of Akure in Ondo State in March, then onto Uyo in Akwa Ibom State in May, Benin City in Edo State in July, the next will be Abuja, the FCT on the 22nd of October at NAF Conference Centre Opp LG Showroom Kado Abuja Nigeria.

The grand finale of their national tour will be held in Lagos on 12th November 2022, with even more breathtaking industry leaders, such as Chris Ani of DabaTV, Tony Emeka of CryptoTV Plus, Chuta Chimezie of BNUG, Kristian Kruz of Element USA.

They also plan to wrap up this year’s event with the first and biggest Blockchain boat cruise on 13th November 2022 where celebrities, founders, investors, and top leaders in the blockchain space will have ample time to network, dine, and wine, while enjoying the lush and ambient view of the Ikoyi/Lekki waters.

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Binance Relaunches Crypto Futures In South Africa

Binance has relaunched its crypto futures products in South Africa through its partnership with Fivewest OTC Desk.

The crypto exchange stated in its latest announcement, “From 2022-09-26 08:00 (UTC), USDⓈ-M and COIN-M perpetual and delivery Futures contracts will be available to South African users on Binance through a juristic representative arrangement with FiveWest OTC Desk (Pty) Ltd (FiveWest).”

FiveWest is an authorized Financial Services Provider in the Financial Advisory and Intermediary Services Act, 2002 with FSP no. 51619. 

Brickhouse Trading Ltd (Brickhouse), a member of the Binance group of companies, will offer derivative products to users in South Africa as a juristic representative of FiveWest. 

Binance further stated that the type of products offered and related product specifications have not changed from Binance’s previous Futures offering in South Africa. Only the manner in which the services are provided has changed. Additionally, users may still connect to the Binance platform and access the same market-leading liquidity.

Binance South African Director Hannes Wessels also commented, “We are pleased to be relaunching crypto futures in partnership with Fivewest as it delivers on our core focus on ensuring local industry compliance while enabling greater access to digital assets for South Africans.” 

Binance CEO and co-founder Changpeng Zhao added that South Africa is a very important market to the company and that Binance remains focused on building user trust through regulatory compliance, security, and strategic partnerships.

Binance blocked South Africans from using its margin, options, futures, and leveraged tokens trading services last year in October. This came after the Financial Sector Conduct Authority (FSCA) issued a strangely-worded public warning against trading on Binance.

The regulator stated in its announcement, “The FSCA cautions the public that should they consider derivative market transactions, then only do so with a properly registered Financial Services Provider.”

“The FSCA received information that Binance Group, an international company has a Telegram group that members of the South African public can join to gain access to their cryptocurrency exchange platform. The FSCA would like to caution that in addition to this entity not being authorized to provide any financial services or business, crypto-related investments are currently not regulated by the FSCA or any other body in South Africa,” it further stated.

Binance operates the world’s largest cryptocurrency exchange by trading volume, according to rankings on Coinmarketcap and CoinGecko. It also has the largest derivatives exchange by volume and open interests.

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WEF Launches Crypto Sustainability Coalition to Leverage Web3 Technologies in Climate Change

The World Economic Forum (WEF) recently made the decision to utilize Web3 technologies and establish an initiative to look into how they may be helpful in the present fight against climate change.

The initiative, which was announced on 21st September is called the Crypto Sustainability Coalition, and it is composed of 30 different companies, educative organizations, and other institutions interested in this issue. Among these are known cryptocurrency-linked projects, like Solana, Avalanche, Circle, NEAR Foundation, Ripple, and the Stellar Development Foundation, among others.

In its news release, WEF stated, “The Crypto Sustainability Coalition is a public-private initiative hosted by the World Economic Forum and comprises 30 partners. It is convening working groups to tackle three specific issues, that is to say, energy usage, Web3’s potential for climate action, and on-chain carbon credits.”

The WEF also further stated that the coalition launch is timely as there is an urgent need to support the decarbonization of cryptocurrency and ensure the industry is part of the climate solution. Furthermore, there needs to be regulatory clarity that promotes Web3 innovation, protects consumers, and improves financial inclusion.

Brynly Llyr, Head of Blockchain and Digital Assets, World Economic Forum commented, “I am excited about the work we are expecting from the Crypto Sustainability Coalition. An important and unique aspect of Web3 is that it uses technology to support and reward direct community engagement and action. This means we can coordinate the work of many individuals directly with one another, enabling collective action without centralized control – a powerful accelerator for grassroots action.” 

The Crypto Sustainability Coalition will investigate, collate and highlight industry standards, best practices, and examples of tangible action that attest to how Web3 technologies can support communities most vulnerable to the impacts of climate change. 

The coalition’s overarching goal is to support a widespread education campaign about Web3’s potential and capabilities, improve Government understanding of how to manage these technologies, and encourage investment and research into their advancement.
The WEF concluded that the new coalition is part of the Crypto Impact and Sustainability Accelerator (CISA), a grant-funded initiative launched by the Forum in January 2022 with a mission to encourage a greater understanding of the environmental, social, and governance (ESG) impacts of crypto technologies.

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Interpol Issues Worldwide Arrest Warrant For Terra Founder, Do Kwon

Do Kwon, the founder of Terra, has been wanted for arrest by regulators all around the world. Several lawsuits have been brought against the executive, alleging that he is to blame for the destruction of the Terra ecosystem’s two cryptos, UST and LUNA.

In the latest development, the International Criminal Police Organization (Interpol) has now issued a Red Notice against the Terra founder. Red Notices, are issued for wanted fugitives either for prosecution or to serve a sentence. According to Interpol’s website, a notice of this kind asks law enforcement agencies all over the world to find and temporarily detain a person pending extradition, surrender, or comparable legal action.

Worth recalling here is that Korean officials have allegedly accused Kwon and five others of crimes including breaches of capital-markets law. In fact, a fortnight back, the prosecutors confirmed that there was circumstantial evidence of escape ever since Kwon left for Singapore, and that is why an arrest warrant was issued in the first place.

Kwon used social media to declare that he was not hiding and that he had expressed a desire to interact with the administration. Additionally, he asserted that his group was totally collaborating because they had nothing to conceal.

However, in response to Kwon’s “I am not on the run” or anything similar tweet, South Korean prosecutors said that Do Kwon was obviously on the run and was not cooperating with the investigation.

A day after, a representative of the Korean prosecution commented that efforts were being made to track down and capture suspect Do Kwon. Additionally, they said that they will work with domestic and international investigative organizations to solve the crime. The recently issued arrest warrant by Interpol will now aid in encouraging the same.

It is important to note that Terra’s collapse led to the unraveling of Three Arrows Capital, a once high-flying crypto hedge fund. Contagion also buffeted lenders and brokers such as Voyager Digital and Celsius Network.

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Emurgo To Host Blockchain Founders Hangout in Abuja

Following its successful launch, this year in Lagos, Nigeria, Cardano accelerator Adaverse in partnership with EMURGO Africa have organized yet another Cardano Blockchain Founders Hangout (BFH). This is the third conference of the #BFH and it has been announced that it will be hosted in the country’s capital, Abuja.  

The event (#BFH3.0) is scheduled to be held on September 25, 2022, and it will drive Cardano awareness among Nigerian entrepreneurs and Web3 developers. 

According to Cardano, this meeting will focus on the challenges Web 3.0 startups have faced, and the possible solutions to address these problems. 

“The company said in its statement, “The event will highlight ground-breaking Web3 projects in Africa, Adaverse portfolio companies, EMURGO Africa’s investment goals, and how young entrepreneurs can get support for startup growth.” 

The Cardano Blockchain Founders Hangout #BFH is an exclusive event that connects and identifies young Africans developing the next wave of socially impactful solutions using Web3.0 tools.

Over 200 people attended the previous Cardano Founders Hangout in Lagos, among them were startup founders in Web 2.0 and Web 3.0, cryptocurrency enthusiasts, blockchain evangelists, policy experts, and press media, among others passionate about building a thriving digitally-relevant economy in Africa.

One of the goals of EMURGO Africa is to gather the resources needed to encourage the use of Cardano as the default tech infrastructure platform for businesses producing Web3 products to fuel the rapidly increasing African digital economy.

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Binance Global Advisory Board to Propel the Future of Web3


A new Global Advisory Board (GAB) has been launched by Binance, the largest cryptocurrency exchange in the world by trading volume. The GAB is made up of renowned authorities in public policy, Government, finance, economics, and corporate governance.

The Global Advisory Board recently met in Paris, France, under the leadership of Max Baucus, a former US senator and ambassador to China. The board’s role is to advise Binance on some of the most challenging political, social, and regulatory concerns that the whole cryptocurrency sector faces as it rapidly expands and changes.

The crypto exchange stated in its press statement, “With the speed and pace that Web3, cryptocurrencies, and blockchain technology are developing, it’s vital that Binance draws on its knowledge, diverse experiences, and backgrounds to help us properly and successfully navigate such a dynamic industry.”

“To many in the community, there will be a question of why we’re forming the Global Advisory Board at this moment in time. The answer is simple and self-evident. Both I and Binance as an entity see an inflection point for mass crypto adoption rapidly approaching. With this change clearly on the horizon, Binance’s role as an industry leader needs to be honed and managed with increasing expertise and experience.  While we have doubled down our focus on regulatory compliance and transparency, we want to ensure that Binance is continuously drawing on its strategic counsel of experts,” it further stated.

Binance founder and CEO Changpeng Zhao, also commented, “For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3. In that time, we’ve tackled complex issues no one even knew existed. We’ve maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users, while keeping a brisk pace of socially-beneficial innovation. The GAB represents the next big step forward in our journey to share the benefits of modern finance and the blockchain with the entire world.”

Ibukun Awosika, the first female chairperson at First Bank Nigeria, among several important roles, and Leslie Maarsdorp, Vice President and Chief Financial Officer of the New Development Bank. in South Africa are the 2 Africans part of the Advisory Board.

Leslie Maarsdorp commented, “For the cities that are willing to partner with companies like Binance in order to create progressive regulations and an effective Web3 environment, I expect it to enable a number of investments into the space.”

Awosika singled Binance for its accountability and transparency as it rolls out products and services to clients, sharing in the excitement to help transform the Web3 economy as part of the Board which Binance CEO, Changpeng Zhao, has termed as ‘the company’s next big step.

Binance is harnessing the GAB’s unrivaled collective experience and expertise to benefit the sustainable development of the industry as a whole, by weighing in on the toughest and most sensitive regulatory and compliance issues facing crypto, blockchain, and Web3.

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Lekki Free Zone set to partner with Gluwa to boost trade and commerce in Nigeria

In its drive to further deepen and strengthen its contribution to the Nigerian economy, the Lekki Free Zone Development Company (LFZ) is in talks with Gluwa, a blockchain technology company on partnering to use the blockchain to foster trade collaboration, growth, and sustainability among new and existing Free Zone enterprises. The partnership would also explore the creation of a Virtual Free Zone within the Lekki Free Zone.

Mr. Tomiwa Idowu, Lekki Free Zone’s Head of Strategy, Innovation & Special Projects, explained that discussions were ongoing between itself, the Nigerian Export Processing Zones Authority, and the Gluwa team.

Idowu added that when the partnership is finalized, it will produce a dashboard for the tokenization of goods into NFTs and offer loans backed by digital assets to new and existing businesses looking to finance operations and/or expand their operations, much like the combination of OpenSea and Compound.

Idowu also shared his vision for innovating the trading and industrial sector in Nigeria and Africa as a whole, bringing it into the modern information age with the Lekki Free Zone at the epicenter.

“I am extremely excited and motivated by the endless possibilities and enormous potentials of such a partnership, it will further establish Lagos State as Africa’s leading sub-national in terms of innovation, economic development, and revenue generation,” he said.

He went further to commend the Lagos State Governor, Babajide Sanwo-Olu as a beacon of progress and hope not only for Lagos state but the nation in general. 

He said, “Our Governor has always been a firm believer in fast-paced development, which involves using technology to leap-frog bureaucracy and going straight to solving immediate problems.”

Notably, China, Russia, and Switzerland have already started implementing plans for the use of blockchain technology in Special Economic Zones.

Tae Oh, Chief Executive Officer at Gluwa also noted that the firm was keen to partner with the Lekki Free Zone as it is the largest and most developed Free Zone in Nigeria with proximity to the Deep-Sea port as well as the Dangote refinery.

He stated, “Trading has been the bedrock of the Nigerian economy, with annual volumes running into billions of dollars. We believe the digitization of the sector can allow us to harness its full potential. For instance, a standard process to digitize goods manufactured or processed within the zone in tandem with a market system on Web3 will allow manufacturers to trade globally via the blockchain.”

He added, “All trades will be registered and benefit from the incentives of the Lekki Free Zone, such as zero taxation and free circulation of goods. As soon as the goods get settled for export by the in-Zone Customs Processing Center, they will get shipped out straight from the Lekki Free Zone via the Deep-Sea port. This would reduce delays, eliminate human errors, exponentially drive-up Nigeria’s non-oil exports and sustain a positive trade balance for the nation. While we are still working out the fine details and a specific framework with NEPZA, we believe it is the future of commerce and trade in Africa.”

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Nedbank enters the metaverse through a partnership with Africarare

South African bank, Nedbank has announced its entrance into the metaverse by acquiring a 12×12 village in Ubuntuland, Africarare’s metaverse. With this move, the bank establishes its presence as the first African financial services organization to enter the metaverse.

Nedbank has not yet disclosed how much it paid for the land.

According to their press release, the Nedbank village has a focus on customer value and services and aims to contain numerous experiences ranging from virtual gaming to a sports lounge. Additionally,  as the digital economic voyage into the metaverse starts to accelerate, major players in trade and industry are poised to develop custom experiences in this digitally enhanced world, which is being heralded as the future of e-commerce.

Nedbank claims that by partnering with metaverses globally, it joins other major international participants like DBS Bank, HSBC, JP Morgan, and Fidelity Investment.

According to Nedbank, Africarare is highly sought-after by companies and individuals who wish to capitalize on the multiple opportunities presented by the metaverse.

Khensani Nobanda, Group Executive for Marketing and Corporate Affairs at Nedbank Group said, “Creating experiences that go beyond banking has always been a focus for Nedbank. Our entry into the metaverse is not merely about having a presence in this space; it’s about meeting the needs of our clients on the platforms that resonate with them.” 

Mic Mann, co-founder, and CEO of Africarare, stated that they are pleased to welcome Nedbank into the Ubuntuland metaverse.

“By entering the metaverse, this organization will pave the way for new solutions for Africa and play a role in the future of banking in this exciting world,” Mann said.

With this development, Nedbank becomes the latest South African company to make a play in Web 3.0 technologies. 

Africarare is Africa’s first metaverse and houses settlers such as MTN, which purchased land in the metaverse in February.