Showing posts with label cryptocurrency. Show all posts
Showing posts with label cryptocurrency. Show all posts

Tuesday, September 1, 2026

Financing Terrorist Organizations in Somalia

 The Africa Center for Strategic Studies published on 6 August 2026 an analysis titled "Countering Terrorism Financing in East Africa" by Daisy Muibu and Nicole Mazurova.

Al-Shabaab in Somalia has established a sophisticated revenue-generation capacity that includes criminal activities, illicit trade, smuggling, and money laundering.  Al-Shahaab obtains annual revenue of up to $200 million annually.  The Islamic State in Somalia generates between $100,000 and $360,000 monthly through extortion and illicit taxation.  

Defeating these terrorist organizations will require degrading their revenue generation capacities through strengthened national and regional coordination.  

Saturday, February 28, 2026

US Call about Sudan Ignites Feud between Saudi Arabia and UAE

 The New York Times published on 27 February 2026 an article titled "How a Call from Trump Ignited a Bitter Feud Between Two U.S. Allies" by Vivian Nereim. 

Saudi Arabia reportedly asked the United States to impose sanctions on the UAE for its support of the paramilitary Rapid Support Forces (RSF) in Sudan.  A Saudi official said the request was to put additional sanctions on the RSF to prevent them from getting external support, not to impose sanctions directly on the UAE.

While the details of the phone call are in dispute, the episode resulted in a public feud between Saudi Arabia and the UAE.  Relations rapidly deteriorated in December when Saudi Arabia bombed an Emirati shipment to Yemen.  Now, Saudi Arabia and the UAE are supporting opposing sides of conflicting groups in Yemen and Sudan.  

Monday, December 8, 2025

Nigeria at Center of China-linked Cybercrime Networks

 Lokmat Times published on 5 December 2025 an article titled "Africa Faces Growing Cybercrime as China Linked Syndicates Expand Operations."

Nigeria is emerging as the epicenter of a cybercrime crisis that is engulfing Africa.  In late 2024 and early 2025, coordinated raids in Lagos and Abuja resulted in the arrest of nearly 1,000 suspects, including 177 Chinese nationals.  These syndicates siphon tens of billions of dollars annually through fake investments, romance schemes, and cryptocurrency fraud.

African governments are operating in an uncomfortable situation.  They are dependent on Chinese economic partnerships while they need to confront criminal networks that involve Chinese nationals.  

Sunday, July 6, 2025

Mozambique Seeks Debt Relief from China

 Gate Moments posted on 4 July 2025 an article titled "Mozambique Seeks China Debt Relief as EM Stress Fuels Crypto Hedge Talk."

Mozambique hopes to restructure a $1.4 billion loan from China, which holds about 12 percent of Mozambique's external debt.  The issue arose during a visit to Beijing by Mozambique's president.  

Friday, March 29, 2024

China's Central Bank Digital Currency and African Finance

 The South African Institute of International Affairs published in February 2024 a paper titled "China's Central Bank Digital Currency: A New Force in African Finance?" by Lauren A. Johnston. 

The paper sets out the basics of a central bank digital currency (CBDC) and of China's digital currency, the e-CNY, in the African context.  It offers suggestions on areas of debate that might be encouraged to bring the CBDC out of monetary halls and into the arena of public interest debate.

Thursday, February 29, 2024

Ethiopia Attracts Chinese Cryptocurrency

 The Nanyang Technological University published on 28 February 2024 an article titled "Ethiopia Is a Frontier for Chinese Crypto."

Attracted by plentiful, inexpensive, renewable electricity and a favorable investment climate, over a dozen Chinese crypto mining firms have signed electric supply deals with the national Ethiopian electric utility.  The primary operating cost of a cryptocurrency mining facility is the cost of electricity.  Following construction of the Grand Ethiopian Renaissance Dam on the Blue Nile, Ethiopia is poised to become a new magnet for global mining.

Tuesday, December 5, 2023

Chinese Nationals Arrested in Libya

 BNN Network published on 4 December 2023 an article titled "Illegal Gold Mining Network Uncovered in Libyan Desert" by Israel Ojoko.  

Libya dismantled an illegal gold mining operation in the desert spearheaded by a Libyan and involving nationals from China, Chad, and Niger.  Libyan authorities had earlier arrested dozens of Chinese nationals in a rogue cryptocurrency mining network.