Latest news with #youthfinance
Tahawul Tech
07-07-2025
- Business
- Tahawul Tech
Progressive regulation and zero tax policy drive UAE's $34 billion crypto boom
Dubai — The Middle East has officially transitioned from crypto-curious to crypto-committed, with the UAE leading a generational financial shift; positioning the region as a major digital asset powerhouse. According to a new report by a leading provider of blockchain and Bitcoin solutions, Mining Grid – the UAE received $34 billion (Dh124 Billion) in crypto inflows between July 2023 and June 2024, recording a 42% YoY growth rate. This surge places the UAE as a key player in the global crypto ecosystem, with over 500,000 daily crypto traders now active in the country. The Middle East attracted $338.7 billion in crypto inflows during the same period, marking an 11.73% YoY increase and securing its position as the 7th largest crypto market globally. Over 93% of that volume came from institutional-sized transfers, highlighting a maturing market driven by long-term strategies rather than speculation. Youth adoption has become a defining characteristic of the UAE's crypto landscape. With over 74% of young adults aged 25-34 showing active interest in cryptocurrency, and 21% planning to trade crypto within the next 12 months, the country leads regional participation in youth-driven digital finance. Social platforms including TikTok, WhatsApp, and YouTube have become primary discovery channels for this demographic, fostering a socially connected generation pursuing financial independence through digital assets. Growth brings challenges, with nearly half of young crypto users concerned about misinformation – opening the door for trusted platforms to lead in education and responsible adoption. Solaiman AlRifai, Founder & Board member, Mining Grid said, 'The UAE's clear regulations and zero capital gains tax have created the perfect environment for crypto growth. With an engaged and forward-looking population, it's no surprise the country is now seen as the crypto capital of the Arab world.' Regional neighbours are following suit with their own approaches. Saudi Arabia recorded remarkable 153% growth and leads GCC countries in youth crypto adoption rates. Oman has taken a sustainability-focused path, investing over $1.1 billion in green mining infrastructure to position itself as a hub for environmentally conscious crypto mining operations. Rami Alsridi, Founder and CEO, Mining Grid said, 'The UAE has created the ideal environment where curiosity meets clarity. We're seeing a new generation that doesn't just want to invest in crypto but wants to understand it, build with it, and lead its next chapter. We're also witnessing a surge in Bitcoin mining, driven by demand for decentralization, transparency, and energy-conscious innovation.' Bitcoin maintains market dominance while Ethereum's ecosystem resilience keeps digital assets in the spotlight. Stablecoins have become a cornerstone of regional value transfer, now comprising 66% of all on-chain transactions. The tokenization of real-world assets, including real estate and bonds, is driving new waves of institutional interest across the region. Mining Grid, which serves over 60,000 users globally with a physical presence in the UAE, has played a pivotal role in accelerating regional crypto adoption through accessible and energy-efficient mining solutions. The company's approach addresses traditional concerns about Bitcoin mining's energy demands by reimagining it as an infrastructure opportunity aligned with regional sustainability goals. Looking toward 2026, analysts from Mining Grid project that youth-led crypto accounts will become the largest new onboarding segment in the region by Q4 2025, and Gulf countries are expected to continue exploring sustainable crypto mining practices. The report anticipates continued growth in mobile-first, gamified crypto platforms, increased institutional participation in tokenised assets, and accelerated adoption of clean-energy-backed mining models across the Middle East.
News24
13-06-2025
- Business
- News24
From graduation gowns to credit scores: Your post-varsity financial survival guide
The transition from university to working life brings exciting opportunities but also financial challenges for many young South Africans. According to a 2024 1Life generational wealth youth survey, 50% of South African youth don't know how to build a financially stable future. Basani Maluleke, Retail Bank Executive at Capitec, identifies this transition period as crucial for establishing long-term financial health, with credit scores playing a vital role. Read more | This is how money can affect your relationship – and how you can best manage it 'Your credit score is more than just a number; it's your financial passport,' Maluleke explains. 'A good credit score can be the key to renting your first apartment without a big deposit, accessing affordable car finance to get you to your new job, securing favourable interest rates on loans, and even influencing your ability to get certain jobs or a cellphone contract.' As Youth Month prompts reflection on these challenges, Maluleke offers three approaches to help graduates navigate this significant financial transition: 1. Income and budgeting: Your financial foundation The cornerstone of financial stability begins with securing a consistent income stream—whether through formal employment, side hustles, or entrepreneurial ventures—and adopting disciplined spending habits. 'This financial foundation will protect you from falling into the trap of overspending when you get that first big financial break,' Maluleke advises. She encourages creating realistic budgets and tracking expenses using tools like Capitec's Track Your Spend. 'Aim to save consistently, even in small amounts. This buffer prevents you from relying on credit for unexpected events, which could strain your finances if you struggle to repay.' 2. Understand and sidestep overcommitment The temptation to immediately upgrade your lifestyle after receiving that first salary can lead many graduates into financial trouble. 'Overcommitment can quickly lead to missed payments or an unhealthy reliance on debt, both of which can severely damage your credit score,' she notes. One common pitfall: 'We often see people deciding to rent a property or get a car that is more than 40% or 50% of that monthly income. Just because you can afford something doesn't mean you should buy it. It is also important to plan carefully for any payments required to support family members.' 3. Start small and smart with credit To build a good credit score, it is important to use credit responsibly. Diving into large loans or high-limit credit cards without experience can be risky. Maluleke advises that there are tools designed for those new to credit. She recommends looking for credit options that encourage responsible spending on small, everyday expenses, such as groceries or fuel. 'Users should aim to pay off the full balance on time to maintain a good credit record. This shows lenders that you're managing credit responsibly. Additionally, always take time to understand the interest rates, fees, and repayment terms – those details can make a big difference later,' she explains. The financial world is always evolving, and Maluleke says young South Africans' knowledge should too. She encourages young people to seek out educational resources and review their credit reports regularly.
