The Lesotho government recently signed a memorandum of understanding (MOU) with the Apollo (APL) Foundation for the creation of an all in one cryptocurrency. Â This step makes the country one of the first on the sub-continent to take definitive steps towards an official embrace of this fintech.
Apolloâs focus on Africa
Thesele Maseribane Lesothoâs Minister of Communications and Technology signed the MOU on behalf of the government while Anthony Mokhele, the chairman Apollo Africa who is also the chief executive officer African Development Funding group (ADF), signed for Apollo Foundation.
Lesotho one of the continentâs smallest countries with a population of 2.1 million people is now following in the footsteps of Asian nations that are leading the world when it comes blockchain adoption.
In a chat with AfricaBlockchainMedia, an Apollo supporter on Twitter revealed that this MOU announcement was a culmination of the organizationâs decision to focus efforts on the African continent. Steve McCullah, the chief executive of Apollo, has reportedly relocated to the continent to work with African countries that are plagued by hyperinflation.
McCullah had not responded to our inquiries at the time of publishing.
Meanwhile, in a letter released earlier in the year, ADFâwhose mandate is facilitating funding of solutions that uplifts Africa societiesâsays it identified Apollo Currency Africa as the suitable cryptocurrency following an investigation into âemerging technologies (that) enable our vision to create wealth within Africa.â
ADF cites Apolloâs âindependent blockchainâ which comes with âendlessâ features as reasons for its endorsement.
Posted from my blog with SteemPress : https://africablockchainmedia.com/lesotho-embraces-cryptos-whilst-mtn-contemplates-launching-own-token/2019/11/18/