AB InBev, the company behind the Budweiser brand, is helping local African farmers to prove their income using blockchain, Yahoo Finance reports on Jan. 21. A blockchain-based system developed in partnership with BanQu tracks all the local suppliers of AB InBev, replacing the paper trail. AB InBev is a multinational conglomerate born out of the merger of several established beer producers. It includes Budweiser, Stella Artois and Corona as some of its most recognizable brands. The company has adopted a strategy of using local suppliers, receiving tax breaks for their added contribution to the country’s economy. However, this proved to …

Over 5,000 victims of the alleged cryptocurrency pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam. Arthur Asiimwe, the leader of the petitioning group who presented the request to the Parliament's speaker Rebecca Kadaga, claims that the government has licensed the alleged scam firm, according to an official announcement by the Parliament of Uganda on Jan. 16. Dunamiscoins victims are not satisfied with investigation results First spotted in early December 2019, Dunamiscoins is allegedly involved in defrauding over 10,000 people, causing them losses of around $2.7 million. The apparent scam company reportedly closed …

Two directors of Dunamiscoins, an alleged cryptocurrency pyramid scheme in Uganda, appeared before court on Monday to face 65 counts tied to obtaining money by false pretense. Local news site The Observer reported on Jan. 8 that state prosecutors had logged over 4,000 complaints against Dunamiscoins Resources Ltd., a suspected fraud that ran its course between Feb. 2018 and Dec. 2019, before summarily collapsing. Inquiries are reportedly still ongoing. The scheme is thought to have defrauded dozens of victims of up to around $37,600 by promising them extraordinary returns on their investments. Earlier reports dating to the time of the …

Ugandan police have seized Samson Lwanga, one of the directors of the alleged cryptocurrency pyramid scheme Dunamiscoins Resources Limited. As domestic news publication Daily Monitor reported on Dec. 9, the police arrested Samson Lwanga, one of the four directors of Dunamiscoins. The company in question is allegedly a cryptocurrency scam, which involved over 10,000 people and reportedly managed to defraud victims of 10 billion Ugandan shillings ($2.7 million). Investigation into the case Patrick Onyango, a spokesperson for the Kampala Metropolitan police, said that the law-enforcement agency submitted a general inquiry file and is still conducting its investigation into the case. …

An alleged cryptocurrency pyramid scheme in Uganda has fled after defrauding dozens of victims that invested in and worked for the scheme. Dunamiscoins Resources Limited opened in Masaka last month and started inviting individuals to invest and become part of its “digital currency network,” independent Ugandan newspaper Daily Monitor reports Dec. 5. The firm’s offices closed down covertly just a month after opening, with employees reportedly coming to the office to find it empty. Dunamiscoins required employees to pay to start work A businessman who worked next to Dunamiscoins’ closed offices reportedly said that Dunamiscoins was convincing people to join …

The deputy governor of the Bank of Uganda has warned the public about the limited protections offered them when they invest in unregulated cryptocurrencies. English-language Ugandan daily New Vision reports on June 28 that the bank’s deputy governor — Dr. Louis Kaskende — made his remarks during a Town Hall meeting in the city of Masaka, which was devoted to educating the public about the institution’s activities and role. Despite bitcoin being designed, in particular, as a politically-neutral money, Kaskende reportedly underscored the risks of crypto trading and adoption, stating that: “[...] online cryptocurrency businesses are not regulated at the …

The President of Uganda, Yoweri Museveni, will officiate the 2019 Africa Blockchain Conference, according to a report by Kabuubi Media Africa on June 24 According to the report, The 2019 Africa Blockchain Conference — not to be confused with The Blockchain Africa Conference 2019 which occurred in April — will be held from July 3 to July 4, and the theme is ’Africa 4.0: Preparing Africa for the 4th Industrial Revolution.’ The conference topics will reportedly include fintech, payment systems, and the future of education. President Museveni reportedly supported the use of blockchain technology in Uganda during his inaugural speech. …

Binance Charity Foundation (BCF), the charity arm of major crypto exchange Binance, has signed a Memorandum of Understanding (MoU) with Safe Future, a non-governmental organization (NGO) in Uganda focused on local education improvements. Binance announced the development in an official blog post on May 30. The Binance for Children Special Impact Education Project Uganda reportedly aims to provide a number of new supplies to schools in Uganda, such as solar panels, sanitary pads, school supplies, LED screens, as well as breakfast and lunch for students. According to the CEO of Safe Future, Mula Anthony, these developments will reach 100,000 students …

South Africa’s Standard Bank will soon launch its private permissioned blockchain for overseas exchange trades on behalf of corporate clients, fintech news outlet FinExtra reports Thursday, Feb. 28. The platform, which is set to go live in the second half of 2019, is based on the Hyperledger Fabric — a foundation for developing applications or solutions for enterprise with a modular architecture. The South African bank is also planning to connect its foreign currency trading app, Shyft, to the blockchain platform. The blockchain-driven system is expected to speed up the processing of international trades, foreign exchange payments and settlement. In …

The charity arm of the world’s largest crypto exchange, Binance, has launched its pilot blockchain-based lunch program in African schools, according to a blog post on Feb. 21. Binance Charity Foundation (BCF) has rolled out its charity campaign “Lunch for Children” in the capital of Uganda, Kampala. According to the program, the organization is set to provide two meals a day during the full year of 2019 to more than 200 students and school staff. The recently launched pilot in Uganda is a part of a larger campaign by Binance that intends to benefit one million students in schools across …

Major crypto exchange Binance plans to expand to eight new countries in 2019, according to a report from crypto outlet The Block, Jan. 17. Following the report, a Binance spokesperson has declined to confirm six of the alleged locations in comments to Cointelegraph today, Jan. 18. Just a day after the major cryptocurrency exchange launched its new European-focused platform for fiat-crypto trading in Jersey, The Block published a report that included a screenshot of a spreadsheet allegedly outlining all the locations for Binance’s fiat-crypto exchanges that are already-launched, intended and under consideration. In addition to Uganda — which launched in …

The world’s largest crypto exchange Binance has launched its fiat-to-crypto exchange in Uganda today, Oct. 24, according to an official announcement on Medium. Binance Uganda, Binance’s first fiat-to-crypto exchange in Uganda, has officially launched live trading, enabling users to buy two major cryptocurrencies — Bitcoin (BTC) and Ethereum (ETH) — with local fiat currency Ugandan shillings (UGX). The exchange had announced last week that Binance Uganda would open this week. Today’s statement reads that Binance Uganda is also a “first step” to the expansion of crypto exchange markets for a “more inclusive ecosystem that will involve fiat currencies.” According to …