African Crypto: 10 Themes for 2023

In a rare moment of consensus, both the crypto faithful and sceptics agree that 2022 was an annus horribilis for the digital assets industry globally. But what can we expect in 2023, especially in the African context?

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Below you can an overview of P2P trading volumes from the LocalBitcoins platform sorted by region. Data refreshes every Wednesday.

Africa Combined USD Volume (2022)

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Africa Combined Transactions (2022)

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Weekly USD Equivalent Volume by Region

Region4 December 202211 December 2022ChangeYTD VolumeVolume ShareYTD TransactionsTransaction Share
Africa Combined$1,383,404$1,244,742-10%$97,407,206100.00%312,244100.00%
South Africa$595,012$497,873-16%$32,841,27433.72%60,77119.46%
Nigeria$408,842$434,7036%$32,257,48733.12%83,53926.75%
Kenya$251,360$211,630-16%$22,847,28723.46%122,89939.36%
Morocco$6,504$6,059-7%$2,828,6322.90%6,6642.13%
Tanzania$59,510$25,727-57%$2,308,7562.37%13,1854.22%
Egypt$21,165$28,06933%$1,765,1421.81%7,2952.34%
Botswana$21,758$19,332-11%$658,7720.68%6,2642.01%
Zambia$6,308$8,43234%$416,5280.43%2,7730.89%
Angola$1,237$3,276165%$314,5170.32%1,1980.38%
Ghana$1,275$2,19072%$295,7880.30%1,6540.53%
West African CFA$3,339$3,072-8%$261,1790.27%1,4730.47%
Rwanda$2,356$1,744-26%$199,4380.20%1,6950.54%
Central African CFA$1,070$1,20212%$94,7750.10%7870.25%
Sudan---$86,1710.09%1490.05%
Eswatini$411$295-28%$74,7280.08%4270.14%
DR Congo$346$48440%$59,7650.06%4020.13%
Uganda$2,093$366-83%$41,7140.04%4390.14%
Ethiopia$305$112-63%$31,3250.03%4000.13%
Namibia$512$176-66%$18,6800.02%1600.05%
Malawi---$5,2470.01%700.02%

*Africa Combined is the aggregate of the markets listed below it.