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Nigeria and South Africa Lead Africa’s Growing Crypto Economy

Sodiq Ajala
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Nigeria and South Africa Lead Africa’s Growing Crypto Economy

Africa’s cryptocurrency industry is often spoken about as if every country is moving at the same speed and for the same reasons. In reality, a few major markets are shaping most of the growth on the continent. Right now, Nigeria and South Africa are leading that movement and helping define what the future of crypto in Africa could look like.

The crypto sector in Africa is no longer only about excitement, trading, or speculation. It is increasingly becoming part of everyday financial systems, including payments, regulation, digital infrastructure, and cross-border transfers. Terms linked to global crypto markets, including XRP and the U.S. dollar exchange conversation often referred to as “xrp usd,” are now tied to larger discussions about liquidity, international payments, and access to global finance.

Nigeria and South Africa are driving this shift in different ways, but together they are influencing the direction of digital assets across the continent.

Nigeria’s Crypto Growth Is Driven by Everyday Financial Needs

Nigeria has become one of the world’s most watched crypto markets. The country has a large population of young, internet-connected users and a strong culture of entrepreneurship. Many Nigerians have turned to cryptocurrency as a practical tool for dealing with economic challenges.

For many people in Nigeria, crypto is not simply an investment trend. It has become a way to save money, move funds across borders, and gain access to assets linked to stronger foreign currencies. This practical use has helped fuel adoption beyond the usual excitement seen in many other markets.

The country’s economic pressures, including currency instability and limited access to international financial systems, have pushed more users toward digital assets. As a result, cryptocurrency in Nigeria is often seen as a financial solution rather than just a technology trend.

Global crypto exchange Binance has also played a major role in raising awareness in the country. Because of its size and visibility, Binance became one of the most recognized names in African crypto discussions. Although the company has faced legal and political scrutiny in Nigeria, its presence highlighted the country’s growing importance in the global digital asset industry.

South Africa Is Building a More Regulated Crypto Industry

While Nigeria’s crypto market is largely driven by urgent financial needs, South Africa is developing a more structured and regulated approach.

The country is working toward integrating digital assets into the formal financial system. Crypto in South Africa is increasingly connected to discussions around regulation, compliance, investment products, and long-term market planning.

This approach gives South Africa a different kind of influence on the continent. Instead of relying mainly on grassroots demand, the country is helping bring digital assets into the mainstream through policy development and institutional involvement.

South Africa’s growing focus on regulation and financial integration is important because the wider African crypto market needs both innovation and stable systems. Nigeria provides rapid user-driven growth, while South Africa offers institutional structure and policy direction. Together, they create a more balanced model for crypto adoption in Africa.

Two Different Approaches Are Shaping Africa’s Crypto Future

Nigeria and South Africa are leading Africa’s crypto industry in very different ways.

Nigeria’s market is fast-moving and heavily influenced by immediate financial pressures. Many users adopt crypto because it helps solve daily economic problems, such as currency instability or expensive cross-border payments.

South Africa’s market is more measured and closely linked to regulation and institutional development. The country is focusing on how digital assets can fit within existing financial systems and legal frameworks.

These differences are helping shape a broader African crypto ecosystem. Some countries may adopt crypto mainly for practical financial use, while others may focus more on investment products, licensing systems, and institutional participation.

Nigeria and South Africa show that both paths can exist together and support the continent’s digital economy.

Other African Countries Are Paying Attention

The progress made in Nigeria and South Africa is being closely watched across Africa. Entrepreneurs are studying the products and services gaining traction in these markets. Policymakers are observing how each country manages the risks and opportunities linked to digital assets.

If Nigeria continues to prove that crypto can solve real financial problems for ordinary users, adoption may grow faster in other developing markets. At the same time, South Africa’s regulatory approach could offer a model for governments and financial institutions across the continent.

Large international companies are also watching these markets carefully. Binance, for example, remains a major topic in African crypto discussions because its activities often reflect the continent’s growing strategic importance in the global digital asset industry.

Africa’s Next Crypto Phase Is Already Taking Shape

Nigeria and South Africa are shaping the next phase of cryptocurrency growth in Africa because each country represents a different part of the industry’s evolution.

Nigeria shows why people turn to crypto when traditional financial systems fail to meet their needs. South Africa demonstrates how digital assets are gradually becoming part of formal markets and institutions.

Together, these two countries are giving Africa’s crypto story more direction and credibility. The future of digital assets on the continent is unlikely to follow one single model. Instead, it will be shaped by different economic realities, regulatory approaches, and local needs.

Nigeria and South Africa are already leading that transformation, while the rest of the continent continues to watch and learn from their progress.

Yoco Appoints New CEO as South African Fintech Targets Expansion

Lindsay Eke
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Yoco Appoints New CEO as South African Fintech Targets Expansion

South African fintech company Yoco has appointed Carsten Höltkemeyer as its new chief executive officer, as the business prepares for its next stage of growth.

The appointment takes effect from 1 June 2026 and follows a global search process that began after co-founder Katlego Maphai stepped down from the CEO role nine months ago.

Yoco said Höltkemeyer brings extensive experience from the fintech and banking sectors, having previously held leadership roles at Solaris, Barclays, and Royal Bank of Scotland. The company said his background in scaling product-focused financial businesses made him a strong fit for Yoco’s future plans.

During the transition period, co-founders Lungisa Matshoba and Bradley Wattrus served as co-CEOs. Both will now return to their previous positions, with Matshoba continuing as chief product and technology officer and Wattrus resuming his role as chief financial officer.

Co-founder Carl Wazen will remain chief business officer, while Maphai will continue supporting the company’s strategic direction.

Speaking about the appointment, Höltkemeyer said he was drawn to Yoco’s mission of supporting small and independent businesses across South Africa.

He described independent businesses as an important part of the country’s economy and said Yoco had built a strong platform to support their growth.

Founded in 2015, Yoco first became known for its mobile card payment machines aimed at helping small businesses accept digital payments more easily. Since then, the company has expanded into a wider range of financial and business services.

Yoco said it now serves more than 200,000 merchants, processes roughly 30 million card payments each year, and has provided billions of rand in funding to businesses.

The company’s next growth phase will focus on building a broader commerce platform that combines payments, point-of-sale systems, business funding, and artificial intelligence-powered tools into a single ecosystem for small and medium-sized enterprises.

Yoco added that its founders will remain actively involved in developing products and guiding innovation as the company expands beyond payments into a more complete business platform.

Paga and Sui Partner to Improve Cross-Border Payments and Digital Finance in Africa

Lindsay Eke
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Paga and Sui Partner to Improve Cross-Border Payments and Digital Finance in Africa

Paga has announced a strategic partnership with Sui to build new digital financial services aimed at improving cross-border payments and financial access across Africa.

The partnership was announced by Tayo Oviosu, who said the collaboration is designed to address major financial challenges facing millions of Africans, including slow international transfers, unstable local currencies, and limited access to global financial systems.

According to Oviosu, the partnership supports Paga’s long-term goal of making financial services easier to access for one billion people. He noted that although Africa’s fintech sector has grown rapidly in recent years, many people still struggle to move money across borders, protect their savings, and participate in global commerce.

Paga said it currently processes about $1.5 billion in transactions every month. Since launching, the company has handled more than $42 billion through over 653 million transactions.

Under the agreement, Paga and Sui plan to introduce four major financial products focused on expanding financial inclusion and improving access to digital assets.

One of the planned services will offer high-yield US dollar accounts powered by the Sui Dollar stablecoin. The companies said this will help users protect their savings from local currency depreciation, a growing concern in several African economies.

The partnership will also build stronger on-ramp and off-ramp systems that allow users to move more easily between local currencies and digital assets. The goal is to improve liquidity and simplify digital transactions across African markets.

Another part of the collaboration will focus on tokenised real-world assets, allowing Africans to invest in global assets with as little as $100. The companies believe this could open access to investment opportunities that are often unavailable to ordinary users.

Paga and Sui also plan to develop blockchain-based financial rails that support faster and cheaper cross-border payments across the continent.

Oviosu said Africa’s growing population and rising middle class create a major opportunity for digital finance innovation. He added that the partnership is focused not only on technology, but also on removing barriers that have limited economic participation and financial inclusion for many Africans.

The collaboration highlights a wider trend among African fintech companies exploring blockchain technology and stablecoins as tools for improving payments, savings, and access to international financial services.

Mastercard and Yellow Card Partner to Expand Stablecoin Payments Across Africa and Emerging Markets

Lindsay Eke
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Mastercard and Yellow Card Partner to Expand Stablecoin Payments Across Africa and Emerging Markets

Mastercard and Yellow Card have announced a new partnership aimed at expanding the use of stablecoin payments across Eastern Europe, the Middle East, and Africa (EEMEA), with plans to grow into other global markets over time.

The partnership will focus on building practical payment solutions using stablecoins, a type of digital currency designed to maintain a stable value by being linked to traditional currencies such as the US dollar.

Both companies said they plan to explore stablecoin use cases in four key areas: cross-border money transfers, business-to-business payments, digital rewards programmes, and treasury management for companies.

The collaboration will also involve banks, financial institutions, and regulators to test secure and compliant payment systems that combine traditional financial services with blockchain technology. The first markets targeted under the partnership include Ghana, Kenya, Nigeria, South Africa, and the United Arab Emirates.

Chris Maurice said emerging markets present strong opportunities for payment innovation, especially in regions where access to traditional banking services remains limited.

According to him, Yellow Card’s experience building stablecoin infrastructure in African markets, combined with Mastercard’s global payment network, could help businesses and individuals move money across borders more cheaply and efficiently.

Mete Güney described stablecoins as a growing payment option that could improve efficiency in international trade and digital finance.

The companies also plan to strengthen payment security through Mastercard Crypto Credential, a system designed to improve trust and verification in blockchain-based transactions.

The agreement reflects growing interest in stablecoins across emerging markets, where businesses and consumers are increasingly looking for faster and lower-cost alternatives to traditional payment systems.

Yellow Card has become one of Africa’s leading licensed stablecoin operators, while Mastercard has continued expanding its blockchain and digital asset initiatives globally.

As regulations around digital assets become clearer in many countries, the partnership positions both companies to play a larger role in the future of blockchain-powered payments and financial services.

Pineapple Named Among Endeavor’s Top Global Scale-Ups

Lindsay Eke
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Pineapple Named Among Endeavor’s Top Global Scale-Ups

South African digital insurance company Pineapple has been selected as an Endeavor Outlier, placing it among the top 10% of high-growth companies in Endeavor’s global network of entrepreneurs.

The recognition forms part of Endeavor’s 2026 Outliers cohort, an invite-only group made up of 238 companies from more than 50 countries. The programme highlights businesses showing strong revenue growth, market expansion, and the ability to scale successfully in difficult or fast-changing environments.

Pineapple earned its place alongside major African technology companies including Flutterwave, LemFi, Moniepoint, and Moove, all of which are recognised for building technology businesses with international reach.

Founded by Marnus van Heerden, Ndabenhle Ngulube, Sizwe Ndlovu, and Matthew Smith, Pineapple operates a digital-first insurance platform designed to simplify insurance through faster claims processing, improved transparency, and a mobile-based customer experience.

The company gained significant attention in 2023 after raising R400 million, one of the largest insurtech funding rounds in Africa. While Endeavor does not publicly release detailed financial figures for selected companies, Outlier status confirms that Pineapple met strict internal benchmarks linked to revenue growth, scale, and long-term business performance.

Endeavor supports founders building scalable businesses in emerging and complex markets. Companies selected into its network go through a rigorous review process led by experienced investors, founders, and business operators. Successful founders gain access to mentorship, strategic advice, and investment support through Endeavor Catalyst.

In South Africa, Pineapple joins a small group of companies that have previously reached Outlier status. These include GoTyme Bank, Onafriq, Hello Paisa, and Go1.

The 2026 programme grouped companies into different tiers based on revenue and compound annual growth rate over a three-year period. Some companies also qualified by reaching valuations above $1 billion.

Endeavor also considers non-financial factors during selection, including resilience, leadership, and a founder’s willingness to support other entrepreneurs within the network.

Pineapple’s inclusion reflects the growing presence of African technology companies in global business and investment networks. It also highlights how startups from the continent are increasingly building products that compete beyond their home markets while addressing local financial and insurance challenges.

Cybervergent Expands Into Kenya, Ghana and South Africa With New AI Security Platform

Lindsay Eke
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Cybervergent Expands Into Kenya, Ghana and South Africa With New AI Security Platform

Cybervergent has launched version 3.0 of its artificial intelligence-powered security and compliance platform while expanding its operations into Kenya, Ghana and South Africa.

The company said the latest version of its platform introduces continuous posture management, replacing the older model of periodic governance, risk and compliance reporting with systems that monitor and verify risks in real time.

According to Cybervergent, the platform’s AI engine can independently verify 99.9 percent of audit and monitoring findings before they appear on company dashboards. The system is designed to help businesses improve how they manage cybersecurity, compliance, audits and data protection across both cloud-based and on-site environments.

The platform also maps more than 4,500 security and compliance controls across major regulatory frameworks. These include the Nigeria Data Protection Act, International Organization for Standardization ISO 27001 standards and SOC 2 compliance requirements.

Cybervergent said onboarding its first customer in South Africa marks an important step in proving the platform’s readiness for highly regulated industries, particularly in major financial and technology markets across Africa.

To support its regional expansion, the company is adopting a channel-first strategy by working with local partners and system integrators in Lagos, Accra and Johannesburg. The aim is to help enterprises deal with growing cybersecurity threats and stricter regulatory requirements.

Ayomide Daniels said the company built verification directly into the platform’s structure to improve trust and transparency.

“If a finding is not traceable back to source documentation, it does not reach the dashboard,” Daniels explained.

Cybervergent previously operated under the name Infoprivacy before rebranding in late 2023. The company originally focused on data privacy compliance in West Africa before shifting towards a broader AI-driven cybersecurity and posture management model.

The expansion reflects growing demand across Africa for stronger digital governance, cybersecurity infrastructure and automated compliance systems as more organisations move their operations online.

AGL and REasy Launch New China-Cameroon Trade Corridor for Small Businesses

Lindsay Eke
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AGL and REasy Launch New China-Cameroon Trade Corridor for Small Businesses

Africa Global Logistics Cameroon (AGL Cameroon) and REasy have launched a new logistics and digital payments partnership aimed at making it easier for small businesses in Cameroon to import goods from China.

The new trade corridor officially began operations on April 29, 2026, with the arrival of the first consolidated container under the partnership. The project is designed to help small and medium-sized enterprises (SMEs) and local merchants overcome common import challenges such as high shipping costs, payment difficulties and limited logistics support.

At the centre of the initiative is a groupage shipping model, also known as Less than Container Load (LCL). This allows businesses to import smaller quantities of goods without paying for a full shipping container, making international trade more affordable for smaller companies.

The service combines four main features: secure digital payments, cargo consolidation in China, real-time shipment tracking and local logistics support in Cameroon. REasy provides the digital payment infrastructure, which complies with regulations from the Bank of Central African States (BEAC), helping ensure that transactions remain secure and transparent.

According to Thibaut Lamé, the partnership reflects a broader effort to provide integrated logistics solutions tailored to local business needs.

He said combining AGL’s logistics experience with REasy’s digital payment technology would create new growth opportunities for local businesses and help smaller traders participate more easily in international commerce.

The companies described the China-Cameroon corridor as the first phase of a wider plan to improve trade routes across Africa. They aim to expand the model into other strategic trade corridors on the continent in the future.

By addressing both logistics and payment challenges, the partnership hopes to modernise cross-border trade, improve supply chain transparency and strengthen the ability of African SMEs to compete in global markets.

Village Capital Invests $350,000 in Two Ghanaian Startups Through New Africa Fund

Lindsay Eke
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Village Capital Invests $350,000 in Two Ghanaian Startups Through New Africa Fund

Village Capital has invested $350,000 in two startups from Ghana through its new Africa-focused investment facility aimed at supporting early-stage businesses building essential services.

The funding marks the first investments made through the Africa Ecosystem Catalysts Facility (AECF), a $4 million fund launched in July 2025 with support from the Dutch Entrepreneurial Development Bank and the Netherlands Enterprise Agency.

The fund focuses on startups working in areas linked to economic growth and climate resilience, especially businesses solving everyday challenges through locally developed solutions.

Under the latest deal, $200,000 will go to Rivia Clinics, a technology-driven healthcare startup, while VDL Fulfilment, an e-commerce logistics company, will receive $150,000. The investments are being provided through a mix of convertible debt and performance-based financing.

Village Capital said the investments come at a time when funding from development finance institutions has slowed across Africa. These institutions played a major role in supporting the continent’s startup growth over the past decade. Despite the slowdown, the latest deal suggests investors are still interested in startups providing practical services in sectors such as healthcare and logistics.

According to Heather Matranga, the two startups represent the kind of businesses emerging across Ghana, where founders are building solutions for real local problems.

Rivia Clinics plans to use the funding to expand its healthcare centres, improve sales operations and strengthen its virtual healthcare services. Meanwhile, VDL Fulfilment will invest in expanding its vehicle fleet and warehouse infrastructure to improve delivery and order fulfilment services.

Village Capital added that the investments were developed alongside local Entrepreneur Support Organisations (ESOs), groups that help startups with mentorship, fundraising support, business development and investor readiness. These organisations often help identify promising businesses that traditional venture capital firms may overlook.

When the AECF fund was launched, Village Capital selected five venture partners across Ghana, Nigeria and Tanzania. These included Reach for Change, Africa Fintech Foundry, Fate Foundation, Anza Entrepreneurs and Ennovate Ventures.

For the Ghana investments, Reach for Change and Innovation Spark helped build the investment pipeline and identify startups that matched local market needs.

Since it was founded in 2009, Village Capital says it has helped mobilise more than $7 billion in investment capital for around 1,800 startups worldwide. The Ghana investments are expected to be the first of several planned investments across Nigeria and Tanzania as the fund continues supporting African startups.

Coinbase Partners African-Founded Kemet to Expand Crypto Derivatives Trading

Lindsay Eke
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Coinbase Partners African-Founded Kemet to Expand Crypto Derivatives Trading

Coinbase has partnered with Kemet, a crypto infrastructure startup founded by an Egyptian entrepreneur, to expand institutional access to crypto derivatives trading as global demand for digital asset products continues to grow rapidly.

The agreement allows institutional investors to trade across four Coinbase platforms through Kemet’s single trading interface. These include Coinbase Exchange, Coinbase Derivatives Exchange, Coinbase International Exchange and Deribit. Coinbase Ventures has also made an undisclosed investment in Kemet, showing deeper strategic ties between the two companies.

The partnership comes as crypto derivatives become one of the fastest-growing areas of the digital asset market. According to CoinGlass, the sector processed around $85.7 trillion in trading volume in 2025, far surpassing spot trading activity and highlighting rising institutional interest in crypto markets.

Founded in 2022, Kemet develops infrastructure that combines order execution, portfolio management and risk monitoring into one platform. Large trading firms often rely on several separate systems for these functions, which can make operations more complex. Kemet aims to simplify the process by bringing these tools together in a single interface.

The deal also builds on Coinbase’s $2.9 billion acquisition of Deribit in 2025, a move that strengthened its position in crypto options and derivatives trading. At the time of the acquisition, Deribit was handling more than $185 billion in monthly trading volume, showing the scale of institutional demand for derivatives products.

Rather than building all trading systems internally, Coinbase has increasingly chosen to work with specialised infrastructure firms as it expands its institutional business. This approach mirrors trends in traditional financial markets, where banks and exchanges often rely on third-party technology providers.

Although Africa has seen strong growth in cryptocurrency adoption, institutional trading activity across the continent remains limited. Countries including Nigeria, South Africa, Kenya, Ghana and Ethiopia recorded $182.1 billion in crypto value between July 2024 and June 2025, according to Chainalysis. That represented a 72 per cent rise compared to the previous year.

However, most of this activity remains concentrated in peer-to-peer and spot trading markets. Institutional derivatives trading across Africa is still held back by unclear regulations and limited financial market infrastructure.

Kemet does not yet serve African institutional clients, reflecting those challenges. In many African economies, financial markets remain heavily focused on spot trading, while regulatory frameworks for crypto derivatives are still developing.

Even so, the partnership points to future opportunities. Coinbase has continued expanding its African presence through stablecoin payments and its Base blockchain network, which is gaining attention for lower-cost transactions. As regulations improve and infrastructure develops, Africa could become a larger participant in the global crypto derivatives market.

Zambia’s ZeroAI Brings AI and Robotics Lessons to Schools Without Internet or Power

Lindsay Eke
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Zambia’s ZeroAI Brings AI and Robotics Lessons to Schools Without Internet or Power

A Zambian startup, ZeroAI Technologies, is expanding access to science and technology education by helping schools teach artificial intelligence and robotics, even in places without steady internet or electricity.

Founded in 2015 by Lottie Mukuka, the company focuses on schools that are often left behind, especially those in rural areas or with limited resources. Its goal is to make STEM education, which stands for science, technology, engineering and mathematics, practical and accessible for all students.

ZeroAI builds complete classroom setups that include both hardware and software. These “lab-in-a-box” systems come with tools such as Arduino boards and IoT sensors, along with offline simulation software, structured lesson plans and training for teachers. This means schools can run full lessons without needing a constant internet connection or stable power supply.

Mukuka said the idea came from a gap in the market. Many education tools are designed for well-equipped schools, leaving others unable to keep up. ZeroAI instead focused on creating a system that works offline and remains affordable for schools with fewer resources.

The company’s approach reflects a wider challenge across Africa, where many schools still lack basic digital infrastructure. Most education technology platforms depend on reliable internet and modern devices, which are not always available. By designing an offline, hardware-based system, ZeroAI has created a model better suited to these conditions.

Beyond classroom learning, the startup also works on robotics, automation and digital innovation projects. This allows it to link education with real-world applications, helping students build skills that can be used in future jobs.

So far, ZeroAI has introduced its solutions in several countries and trained more than 10,000 students across about 40 schools in Africa and other emerging markets.

The company’s work highlights a growing trend among African startups. Rather than simply bringing digital tools into education, they are adapting their solutions to fit local challenges, making it easier for more students to gain skills in fast-growing fields like artificial intelligence.

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