A weekly round-up of P2P Bitcoin trading activity across the top 10 African markets on LocalBitcoins. Charts showing long term trends can be found here.

• Africa Combined: For the week ended 16 October, Africa Combined volume on LocalBitcoins was $1.27 million, which represented a 19% decline on the previous week’s volume of $1.58 million and marked a new low for the year. For a few weeks there it looked like volume at the Africa Combined level had found its floor at $1.34 million in the week ended 18 September, but it turns out that was not the case. Transactions came in at 4,716 for the week ended 16 October, which represented an 8% decline on the previous week’s count of 5,139.

• Nigeria: Nigeria’s volume for the week ended 16 October was $404.9K, which represented a 23% decline on the previous week’s volume of $524.9K. After climbing for four weeks in a row, Nigeria’s volume is back near the lower end of its range for 2022, an area it has played in throughout August and September. Transactions came in at 1,268 for the week ended 16 October, which represented an 11% decline on the previous week’s count of 1,418.

• South Africa: SA’s volume for the week ended 16 October was $506.8K, which represented an 8% decline on the previous week’s volume of $551.2K. Transactions came in at 1,072 for the week ended 16 October, which represented a 1% decline on the previous week’s count of 1,085. The gap between Nigeria and SA for the top spot in YTD volume terms now sits at $802.1K as of the week ended 16 October, down from $904.0K in the previous week. We have a little under 11 weeks of trading left in the year.

• Kenya: Kenya’s volume for the week ended 16 October was $234.6K, which represented a 30% decline on the previous week’s volume of $332.8K and marked a new low for 2022. Transactions came in at 1,684 for the week ended 16 October, which represented a 9% decline on the previous week’s count of 1,847.

• Morocco: Morocco’s volume for the week ended 16 October was $14.5K, which represented a 38% decline on the previous week’s volume of $23.3K. Transactions came in at 80 for the week ended 16 October, which represented a 14% decline on the previous week’s count of 93.

• Tanzania: TZ’s volume for the week ended 16 October was $39.4K, which represented a 42% decline on the previous week’s volume of $68.0K. Transactions came in at 189 for the week ended 16 October, which represented a 13% decline on the previous week’s count of 216.

• Egypt: Egypt’s volume for the week ended 16 October was $18.1K, which represented a 6% decline on the previous week’s volume of $19.2K. Transactions came in at 85 for the week ended 16 October, which represented a 25% decline on the previous week’s count of 114.

• Botswana: Botswana’s volume for the week ended 16 October was $18.4K, which represented a 14% decline on the previous week’s volume of $21.4K. Transactions came in at 186 for the week ended 16 October, which represented a 11% decline on the previous week’s count of 210.

• Zambia: Zambia’s volume for the week ended 16 October was $6.3K, which represented a 20% decline on the previous week’s volume of $7.9K. Transactions came in at 46 for the week ended 16 October, which represented a 4% decline on the previous week’s count of 48.

• Angola: Angola’s volume for the week ended 16 October was $1.1K, which represented a 53% decline on the previous week’s volume of $2.3K. Transactions came in at 11 for the week ended 16 October, which represented a 15% decline on the previous week’s count of 13.

• Ghana: Ghana’s volume for the week ended 16 October was $622, which represented a 29% decline on the previous week’s volume of $877. Transactions came in at 12 for the week ended 16 October, which represented a 71% increase on the previous week’s count of 7.

* Africa Combined is the aggregate of 20 African markets on LocalBitcoins that we currently aggregate data on. USD volumes are USD equivalent, meaning they are converted from local currency volumes.  

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