Blockchain payments giant Ripple has released a up-to-date report focusing on the growth and adoption of digital assets in Africa, driven by key regulatory changes that the company says have pushed it to offer crypto solutions to “power Africa’s growing digital economy.”
The test states that roughly eight African countries have already adopted cryptocurrency policies, with several more moving toward a formal framework.
South African Policy Progress
Ripple highlights emerging regional coordination, with clearer systems in major markets beginning to serve as templates for neighboring countries, and cross-border fintech initiatives supporting a “more harmonized ecosystem.”
The report shows that regulatory dynamics underpin concrete economic growth chain activity and practical applications of digital resources across the continent.
The company analyzes several national events in detail. As Ripple notes, South Africa adopted a comprehensive framework in June 2023 that treats certain crypto assets as financial products.
Under the up-to-date regulations, crypto asset service providers (CASPs) in the country must be licensed and regulated by both the Financial Sector Conduct Authority and the Financial Intelligence Center.
Johannesburg has also implemented the Financial Action Task Force’s travel policies and continues to review policies regarding stable coins and tokenization through the Intergovernmental Fintech Working Group.
Clearer supervision of cryptocurrencies
The report shows that Kenya moved quickly from proposals to legislation. The Virtual Asset Service Providers Bill introduced by National Treasury in March 2025 came into force in October 2025, transferring supervisory responsibility to the Central Bank of Kenya and the Capital Markets Authority.
Nationwide consultations on implementation are being carried out in the country statuteand Ripple expects the Kenya framework to have an impact on the region in 2026 as the country develops its digital asset infrastructure.
Mauritius is portrayed as a pioneer. The VAITOS Act 2021 established one of the first comprehensive regimes in Africa with stringent anti-money laundering and anti-terrorist financing provisions. Ripple notes that Mauritius issued additional guidance on stablecoins last year and is considering introducing a more complete regulatory regime for them.
Nigeria, long one of Africa’s largest cryptocurrency markets, also appears to be formalizing its approach. The Investment and Securities Act, 2025 recognizes digital assets as securities regulated by the Securities and Exchange Commission of Nigeria (SEC).
The Central Bank of Nigeria also eased previous restrictions on banks working with licensed digital asset providers and launched a pilot supervision of several virtual resource service providers (VASP). Ripple describes these moves as a significant policy change aimed at supporting innovation while protecting consumers.
Details Ripple Progress in regional regulations
Beyond these examples, Ripple documents a broader movement. Ghana’s central bank has started registering virtual asset service providers as a first step, and countries including Botswana, Namibia and Seychelles have taken steps towards cryptocurrency policies.
Other jurisdictions – including Ethiopia, Morocco, Rwanda, Tanzania and Uganda – are actively evaluating regulatory options. The report highlights that this patchwork of reforms is moving towards greater transparency and interoperability beyond borders.
The report further highlights striking growth on the network: Sub-Saharan Africa recorded over $205 billion in on-net value between July 2024 and June 2025, a 52% year-over-year augment that places the region among the fastest-growing cryptocurrency markets in the world.
Ripple indicates that Nigeria and Ethiopia are in the top 15 of the global cryptocurrency adoption index for 2025, highlighting sturdy grassroots demand for the digital asset.
Featured image from OpenArt, chart from TradingView.com
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