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Payments platform Fuse integrates ChromePay to bring DID services to Africa

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The African continent has emerged as a hotbed for crypto and blockchain activity, with countries like Nigeria and Ethiopia leading the way.

Web3 payments platform Fuse has partnered with ChromePay, an identity-based payment solution, to launch a new suite of payment products in Africa — a move designed to boost financial inclusion on the continent.

The partnership centers around ChromePay’s decentralized identity service, also known as a DID, which the companies claim will enable millions of Africans to participate in the Web3 economy. By utilizing the Fuse blockchain, ChromePay will offer users a variety of Web3 payment services powered by its DID solution. As part of the partnership, Fuse has also awarded ChromePay a grant for an undisclosed amount to build out its decentralized finance (DeFi) and DID services directly on the blockchain.

By integrating with the Fuse blockchain, ChromePay will reportedly enable users to access both traditional and blockchain-based payments directly from their mobile devices.

Founded in 2019, ChromePay launched its payment solutions app in Nigeria in 2021 following a successful pilot. The company’s next milestone is the launch of its Fuse-powered DID in Ethiopia, a country that has made notable strides in its crypto adoption.

As Cointelegraph explains, decentralized identity is an emerging concept within Web3 that enables trusted data exchange. In practice, DIDs allow users to manage and administer their digital identity without reliance on a centralized third party.

Africa has become a hotbed for crypto and blockchain activity, with significant populations in Kenya, Nigeria and South Africa turning to digital assets for access to financial services. This trend was identified by the United Nations in a June 2022 policy brief, which described the “unprecedented pace” of crypto adoption during the pandemic.

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AFRICA

Nigeria’s AfriGo to Rival Visa, Mastercard – Central Bank

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The Central Bank of Nigeria (CBN) has launched the Nigerian National Domestic Card Scheme, AfriGo, aimed at creating a more robust payment system that would drive financial inclusion in the country.

CBN governor, Godwin Emefiele, has said that transaction charges on all cards would henceforth be paid in Naira, except for international transactions.

Emefiele said the card, which will function like other international payment cards, is aimed at boosting financial inclusion in the country and reducing dependence on foreign cards. He added that “by this initiative, will therefore be joining countries like China, Russia, Turkey and India which have launched domestic card schemes and harnessed the transformative benefits for their respective payments and financial systems, particularly for the underbanked.”

The national domestic card is expected to rival Visa and Mastercard, the market’s biggest players.

The announcement follows last year’s decision to phase out old higher denomination bank notes. The new notes came into circulation effect on December 15, 2022.

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AFRICA

The Gospel of the “Obi-Datti” Movement

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Nigeria 23:57….. and it came to pass in those days as Peter the son of Obi journeyed from Kaduna unto Kano, a great multitude followed him as he spake unto them saying; behold, I will do a new thing in Northern Nigeria, if thou and thy children shall vote for me, we will prosper thy land and thy seed shall eat the fruits thereof, for what profiteth the North that thou hast great land and thy offspring suffereth hunger and starvation.

 

As he spake these things, the Kadunites and the Kanites marvelled and they spake one to another, what manner of man is this that bringeth hope unto us. The people spread the good news of Peter and his brother Datti and whole city rejoiced at the marvelous things he spake unto them. Many were baptized unto OBIDIENCE and the number of those baptized were Nine hundredth and forty thousand men, with women and children not counted.

 

….. An excerpt from one of the “obedients” that got our attention inhouse. With the elections at hand in Nigeria, it would be advisable for all to get their PVC’s and go vote for their candidate.

 

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AFRICA

Tanzanian opposition leader returns home after years in exile

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Tanzanian opposition leader and former presidential candidate Tundu Lissu returned home from years of exile in Belgium to a cheering crowd on Wednesday, after the government lifted a ban on political rallies.

A former lawmaker and a fierce critic of the government, Lissu initially left the country to seek treatment abroad after he was shot 16 times, mostly in his lower abdomen, in an attack by unknown gunmen in the administrative capital Dodoma in 2017.

President Samia Suluhu Hassan lifted a ban on political rallies this month, more than six years after her predecessor John Magufuli imposed the measure which caused frequent run-ins between opposition leaders and police.

The move was welcomed by the opposition and it prompted Lissu to announce he would end his exile.

He was welcomed by a large gathering of his supporters at the Julius Nyerere International Airport, before making his way by car to a rally in the commercial capital Dar es Salaam.

Exile had been tough, he told the crowd which was waving his CHADEMA party flags, adding he would push for the enactment of a new constitution.

“Without a new constitution it will be difficult to change anything. Without it we won’t have a free and independent electoral commission,” he said.

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The current constitution vested too much power in the executive, he said, adding it was imperative to push for reforms.

“If you are tired of all these high taxes, high inflation of food… let us find a political solution, let us find a new constitution,” Lissu said.

Lissu, who had been arrested eight times in the year leading up to the gun attack he survived, returned to his homeland in 2020 to challenge Magufuli in an election.

However, shortly after the election he fled to the residence of the German ambassador after receiving death threats, and then left the country again.

Under the ban on rallies, which came into force in 2016, elected politicians were allowed to conduct rallies in their constituencies but other political rallies or protests were prohibited.

Magufuli died in March 2021 due to a heart disease that had plagued him for a decade. Upon ascending to the presidency, Hassan undertook some reforms, including lifting a ban on newspapers deemed critical and opening talks with opposition leaders.

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AFRICA

Nigeria: Federal Govt Sets Up 14-Man Committee to Manage Petroleum Products Supply, Distribution

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In a move to find lasting solution to the disruptions in the supply and distribution of petroleum products in the country, President Muhammadu Buhari has approved the constitution of a 14-man Steering Committee on Petroleum Products Supply and Distribution management, which he will personally chair, the ministry of petroleum resources announced yesterday.

The Steering Committee, which has minister of state for Petroleum Resource, Chief Timipre Sylva as alternate chairman is expected to among other things to ensure transparent and efficient supply and distribution of petroleum products across the country.

Other terms of reference are to ensure national strategic stock management, visibility on the NNPC Limited refineries rehabilitation programme and ensure end-end tracking of petroleum products, especial PMS to ascertain daily national consumption and eliminate smuggling.

To further ensure sanity in the supply and distribution across the value chain, Sylva has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure strict compliance with the government approved ex-depot and retail prices for PMS.

The minister has further directed the NMDPRA to ensure that NNPC Limited, which is the supplier of last resort meets the domestic supply obligation of PMS and other petroleum products in the country.

He further directed that the interests of the ordinary Nigerian is protected from price exploitation on other deregulated products such as AGO and DPK and LPG.

The federal government will not allow misguided elements to bring untold hardship upon the citizenry and attempt to discredit government’s efforts in consolidating the gains made thus far in the oil and gas sector of the economy.

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Other members of the committee are minister of Finance, permanent secretary, Ministry of Petroleum Resources, National Economic Adviser to the President, director-general, Department of State Services (DSS), comptroller-general, Nigerian Customs Service (NCS), chairman, Economic and Financial Crimes Commission Member (EFCC), and commandant-general, Nigerian Security and Civil Defence Corps (NSCDC)

Others who made up the Steering Committee are Authority chief executive, Nigerian Midstream and Member Downstream Petroleum Regulatory Authority (NMDPRA), governor, Central Bank of Nigeria (CBN), group chief executive officer, NNPC Limited, Special Advisor (Special Duties) to the HMSPR while the Technical Advisor (Midstream) to the HMSPR will serve as Secretary.

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