Group commits to regional development as Southwest targets $600bn GDP
The Osun Development Association (ODA), on Wednesday, reaffirmed its dedication to articulating a strategic and inclusive roadmap for the newly established South West Development Commission (SWDC).
Similarly, the six States that make up the Southwestern Region disclosed ambitious visions for the Region, which include a $600 billion Gross Domestic Product (GDP) target, regional rail networks and smart energy grid system.
Visa Establishes Regional Hub in Tanzania to Boost Digital Payments
Visa, a global leader in digital payments, has launched a new office in Tanzania as part of its broader strategy to strengthen its presence across East Africa. The new office, located in Dar es Salaam, will serve as a regional hub overseeing operations in Uganda, Rwanda, and Burundi. This move reflects Visa’s growing commitment to accelerating digital transformation and financial inclusion across the region.
The office was inaugurated during the first-ever Visa Day Tanzania 2025, an event that brought together stakeholders from the financial services ecosystem, including banks, fintech firms, mobile network operators, government agencies, and development partners. The event centered on shaping the future of payments in Tanzania and fostering collaboration to support the evolution of digital financial services.
MWC Kigali Returns in October with Focus on Digital Policy and Regional Collaboration
The GSMA, a global organisation uniting mobile operators and companies across the mobile ecosystem, has announced the return of MWC Kigali, the African continent’s largest and most influential connectivity event, taking place from 21 to 23 October 2025.
Hosted in partnership with the Ministry of ICT and Innovation of Rwanda, the event will bring together regional and global leaders to foster cross-border collaboration, investment, and policy dialogue in support of Africa’s digital transformation.
New for 2025, MWC Kigali will see the launch of the GSMA Ministerial Programme, a flagship initiative from MWC Barcelona.
Read more: https://fintechnews.africa/45674/fintech-rwanda/mwc-kigali-2025/
Licensed, banned, undecided? Here’s the state of crypto licensing in Africa
Say the word “cryptocurrency” in a room full of finance elites, and you might ruffle feathers. Due to its untraceability—thanks to blockchain—central banks find it difficult to grant legal status to digital assets. Funds are hard to trace, undermining their responsibility to issue effective monetary policies.
However, this uncertain stance has not stopped the adoption of cryptocurrencies in Africa, where people use digital currencies as a means of payment, investment, or for real-world retail purchases.
The state of crypto licensing across African countries in 2025 is highly varied, with a small but growing number of countries establishing clear legal regimes for crypto businesses, while others ban or severely restrict such activities. Many countries remain undecided or lack formal frameworks entirely.
Read more: https://techcabal.com/2025/08/06/crypto-licensing-in-africa/
Pesa acquires IMTO licence to scale its people-first cross-border payment approach
Pesa, a leading bootstrapped Nigerian cross-border payment service, has acquired an IMTO licence from the Central Bank of Nigeria (CBN). This licence allows the company to process the transfer of funds from abroad to individuals or entities in Nigeria.
While Pesa enters a highly competitive remittance market, the startup aims to differentiate itself with a customer-centric and fee-free approach. “This IMTO license shows our commitment to the Nigerian market and our adherence to regulatory standards,” Pesa said.
During the process of the acquisition, Pesa proved its commitment to regulatory compliance by implementing anti-money laundering (AML) and counter-terrorism financing (CTF) measures, along with strong policies, procedures, and systems to prevent illicit financial activities.
Ripple pays $200m for stablecoin firm Rail
Rail says its payment infrastructure platform connects fiat and stablecoin technologies so that clients can move money fast, save costs, and build to grow via a single API.
Ripple boasts the addition will give it the “most comprehensive stablecoin payments” offering available in the market.
The blockchain and crypto firm launched its own enterprise-grade, USD-denominated RLUSD stablecoin late last year. Earlier this month, it struck a deal with Bank of New York Mellon to act as primary custodian for RLUSD reserves.
Read more: https://www.finextra.com/newsarticle/46416/ripple-pays-200m-for-stablecoin-firm-rail
