Weekly P2P: Zambia Finds New Weekly High amid Wider Slump

September 14, 2022

Welcome to the weekly peer-to-peer (P2P) round-up. Each week, we take a quick look at the P2P trading volumes of the top 10 African markets on the LocalBitcoins platform to get a sense of local crypto activity. Charts showing long term trends can be found here.

Africa Combined: For the week ended 11 September, Africa Combined* volume on LocalBitcoins was $1.45 million, which represented a 12% decline on the previous week’s volume of $1.65 million. $1.45 million marks a new low for Africa Combined in 2022. Transactions came in at 5,319 for the week ended 11 September, which represented a 5% decline on the previous week’s count of 5,612.

Nigeria: Nigeria’s volume for the week ended 11 September was $434.0K, which represented a 9% decline on the previous week’s volume of $474.7K. Transactions came in at 1,467 in the week ended 11 September, which represented a 6% improvement on the previous week’s count of 1,389.

South Africa: SA’s volume for the week ended 11 September was $576.3K, which represented an 8% decline on the previous week’s volume of $626.2K. Transactions were 1,204 in the week ended 11 September, which represented an 8% decline on the previous week’s count of 1,309.The gap between Nigeria and SA for the top spot in YTD volume terms now sits at $1.32 million as of the week ended 11 September, down from $1.46 million in the previous week.

Kenya: Kenya’s volume for the week ended 11 September was $283.2K, which represented a 19% decline on the previous week’s volume of $349.0K and marked a new low for Kenya in 2022. Transactions came in at 1,793 in the week ended 11 September, which represented a 10% decline on the previous week’s count of 1,984.

Morocco: Morocco’s volume for the week ended 11 September was $29.7K, which represented a 51% decline on the previous week’s volume of $60.9K. Transactions came in at 110 in the week ended 11 September, which represented an 19% decline on the previous week’s count of 136.

Tanzania: TZ’s volume for the week ended 11 September was $43.5K, which represented a 12% decline on the previous week’s volume of $49.2K. Transactions came in at 206 for the week ended 11 September, which was 9% below the previous week’s count of 227.

Egypt: Egypt’s volume for the week ended 11 September was $35.8K, which represented a 17% improvement on the previous week’s volume of $30.5K. Transactions were 146 in the week ended 11 September, representing an 24% improvement on the previous week’s count of 118.

Botswana: Botswana’s volume for the week ended 11 September was $14.8K, which represented a 42% decline on the previous week’s volume of $25.6K. Transactions came in at 171 in the week ended 11 September, representing a 26% decline on the previous week’s count of 232.

Zambia: Zambia’s volume for the week ended 11 September was $15.3K, which represented a 32% improvement on the previous week’s volume of $11.6K. Bucking the broader trend, $15.3K marks a new volume high for Zambia in 2022. Transactions came in at 60 in the week ended 11 September, representing a 12% decline on the previous week’s count of 68.

Angola: Angola’s volume for the week ended 11 September was $1.2K, which represented a 67% decline on the previous week’s volume of $3.6K. Transactions came in at 12 in the week ended 11 September, which represented a 33% decline on the previous week’s count of 18.

Ghana: Ghana’s volume for the week ended 11 September was $1.8K, which represented a 25% improvement on the previous week’s volume of $1.5K. Transactions came in at 27 in the week ended 11 September, representing a 200% improvement on the previous week’s count of 9.

* 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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