Nigeria is taking significant steps to regulate its rapidly growing cryptocurrency market through the establishment of a new Virtual Asset Council. This regulatory framework aims to increase transparency, strengthen investor confidence, and foster an environment where innovation can thrive while protecting consumers.

The initiative is expected to accelerate the growth of digital assets across Africa, particularly by enhancing the efficiency of cross-border payments, an area 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 promotes innovation while building 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—surpassing foreign direct investment in many African countries. At the EMY Africa London Summit, business leaders, investors, and policymakers discussed transforming these remittances from household support into catalysts for long-term economic growth. They highlighted the importance of accessible investment vehicles, improved financial infrastructure, and stronger trust between investors and entrepreneurs to unlock diaspora capital’s full potential.

Additionally, enterprises like Joella in Bukavu are showcasing how sustainable farming can simultaneously address economic and environmental challenges in Africa.

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