Africa: A Senegalese Factory Proves Africa Can Spin Its Own Cotton – Can It Find the Money to Keep Going?

Africa: A Senegalese Factory Proves Africa Can Spin Its Own Cotton – Can It Find the Money to Keep Going?

Domitexka’s mill in Kaolack has the markets, the know-how and the partnerships to compete globally. What it still needs — like nearly every manufacturer on the continent — is patient capital. The thread comes off the spool white, clean and taut. Inside the Domitexka workshop in Kaolack, the machines are running: raw Senegalese cotton goes…

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FNB, Absa and Nedbank bet on money for machines

FNB, Absa and Nedbank bet on money for machines

Buried in the partner list of a new consortium building a dollar currency for the machine economy – backed by Visa, Mastercard, Stripe and BlackRock – are three familiar names: FNB, Absa and Nedbank. South Africa’s banks have quietly joined the most ambitious attempt yet to solve a problem the internet has ignored for 30…

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Money rules ‘built for different era’ hold SA back

Money rules ‘built for different era’ hold SA back

Regulations must enable businesses to use stablecoins for cross-border payments. (Graphic made via GenAI) Proposed foreign exchange regulations risk locking South African businesses out of a fast-growing global payments system built on stablecoins. There is also an outdated understanding of how digital money actually moves, say two of the country’s leading crypto executives. In April,…

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Is Bitcoin money? Two courts, two answers

Is Bitcoin money? Two courts, two answers

The Johannesburg High Court found that crypto-currency is subject to current forex rules. (Graphic: Nicola Mawson | Freepik) As government pushes ahead with plans to regulate cross-border crypto-currency flows, two High Court judgements have reached opposing conclusions on whether digital assets already fall within South Africa’s existing exchange control framework – leaving crypto holders in…

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