Africa has its first Bitcoin treasury firm, with South Africa’s Altvest Capital rebranding as Africa Bitcoin Corporation (ABC) and debuting on the Johannesburg Stock Exchange.
The company plans to raise $210 mln to purchase Bitcoin through share offerings and debt notes, positioning itself alongside global players such as the UK’s Smarter Web Company. ABC has so far raised 11 million rand ($633,000) in its first funding phase.
Chairman Stafford Masie and CEO Warren Wheatley said Bitcoin offers a unique solution for African economies, where inflation, currency devaluation and limited financial access remain pressing issues
. «In Africa, when financial services don’t work, people die. That’s who we are. That’s why we say Bitcoin was made for us,» Masie said.
Beyond holding Bitcoin on its balance sheet, ABC plans to use its treasury to support small businesses by offering Bitcoin-backed financial services including credit, savings and structured products.
Company leaders said the move reflects both a financial strategy and a broader effort to provide stability in economies where traditional money systems are under strain.
Kursiv Uzbekistan also reports that The Smarter Web Company, the UK’s largest corporate Bitcoin holder, is considering acquiring struggling competitors to expand its digital asset reserves, CEO Andrew Webley said.
