Africa: Technology

African regulators advanced virtual asset oversight in Q2 as stablecoins moved closer to formal financial systems through new regulations and commercial pilots. From Kenya's crypto trader disclosure requirements to Tanzania's first stablecoin sandbox and Nigeria's expanded regulatory incubation programme, the continent is formalising digital currency frameworks. Commercial momentum accelerated with Visa, M-PESA Africa and Onafriq launching DRC stablecoin pilots for cross-border mobile money transactions.

Nigeria has taken another significant step towards bringing virtual assets, cryptocurrency businesses and blockchain-enabled financial services within a more coordinated regulatory framework. President Bola Ahmed Tinubu's Presidential Executive Order on Virtual Assets Coordination, 2026 should not be viewed as another attempt to prohibit digital assets. Nor does it replace the existing powers of the Central Bank of Nigeria, the Securities and Exchange Commission (SEC), the Nigeria Revenue Service or other relevant agencies.

Artificial intelligence, cloud computing, cybersecurity and digital sovereignty have fundamentally changed the way governments think about data. Around the world, policymakers are increasingly asking where data should be stored, who should have access to it and under what circumstances it should leave national borders. These questions are no longer confined to technology policy, they have become matters of economic policy, national security, industrial development and international trade.