Africa Crypto Landscape: Nigeria’s Naira Devaluation, Zimbabwe’s Crypto Review, and Rwanda’s CBDC Plans

In recent developments within Africa’s crypto landscape, Nigeria’s Naira has significantly devalued, now worth less than 1 Satoshi, amidst efforts by authorities to stabilize the currency. Zimbabwe is taking proactive steps toward regulating the crypto sector, with the government launching initiatives to evaluate the local industry and address potential risks. Meanwhile, Rwanda is planning to introduce a Central Bank Digital Currency (CBDC) within the next two years, aiming to enhance financial inclusion and transition towards a cashless economy. These moves highlight the continent’s shift towards embracing digital and crypto innovations amid economic challenges.