Nigeria is making significant strides to regulate its rapidly growing cryptocurrency market through the establishment of a new Virtual Asset Council. This initiative aims to enhance transparency, strengthen investor confidence, and foster an environment conducive to innovation while protecting consumers.

The regulatory framework is expected to accelerate the growth of digital assets across Africa, particularly by improving the efficiency of cross-border payments—a sector where blockchain technology has shown strong potential. Faster and more affordable international transactions could open new avenues for trade and financial inclusion for both businesses and individuals.

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

Africa’s global diaspora plays a vital role in the continent’s economy, sending nearly $100 billion home annually—surpassing foreign direct investment in many African nations. At the EMY Africa London Summit, stakeholders discussed transforming these remittances from mere household support into catalysts for long-term economic development. Key to this transformation are accessible investment options, improved financial infrastructure, and strengthened trust between investors and entrepreneurs.

Additionally, enterprises like Joella in Bukavu are showcasing how sustainable farming can simultaneously address economic and environmental challenges, reflecting broader efforts to leverage innovation for Africa’s growth.

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