Africa’s largest economic system has a international funding downside regardless of exponential development in crypto adoption.
The Nationwide Bureau of Statistics (NBS) reported on Tuesday that international direct funding (FDI) in Nigeria, Africa’s largest economic system, fell 33% final yr on account of a extreme scarcity of {dollars}. The scarcity has additionally discouraged crypto firms from increasing into the nation. In 2022, funding fell to $468 million from $698 million the earlier yr. In line with the info, FDI has declined by round 90% since its peak of $4.7 billion in 2008.
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