Nigeria is taking significant steps to regulate its rapidly growing cryptocurrency market through the establishment of a new Virtual Asset Council. The proposed regulatory framework seeks to increase transparency, strengthen investor confidence, and foster innovation while protecting consumers.

This initiative is expected to enhance the growth of digital assets across Africa, particularly by improving the efficiency of cross-border payments, where blockchain technology has shown considerable promise. Faster and more affordable international transactions could open new opportunities for trade and financial inclusion for both businesses and individuals.

Pelumi Esho, CEO and Founder of 91 Payments, emphasized the need for balanced regulation that encourages innovation and builds trust within the virtual assets ecosystem. Industry experts believe that clear regulatory guidelines could position Nigeria as a leading digital finance hub on the continent.

Africa’s global diaspora plays a vital role in the continent’s economic development, sending nearly $100 billion home annually—an amount that surpasses foreign direct investment in many African countries. At the EMY Africa London Summit, business leaders, investors, and policymakers discussed transforming these remittances from family support into catalysts for long-term economic growth.

Participants highlighted the importance of creating accessible investment vehicles, improving financial infrastructure, and fostering trust between investors and entrepreneurs to unlock the full potential of diaspora capital.

Additionally, in Bukavu, the enterprise Joella is showcasing how sustainable farming practices can simultaneously address economic and environmental challenges in Africa.

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