Licensed, banned, undecided? Here's the state of crypto licensing in Africa | CediRates

This comprehensive guide by TechCabal examines the evolving landscape of cryptocurrency licensing across African nations in 2025.

While central banks remain cautious about digital assets due to traceability concerns, cryptocurrency adoption continues growing across Africa for payments, investments, and retail purchases. The regulatory landscape varies dramatically, from progressive licensing frameworks to complete bans, with many countries still developing their approaches.

• Leading jurisdictions: Botswana pioneered crypto licensing in 2022, while South Africa has approved 248 licenses and Mauritius offers structured regulatory frameworks with clear capital requirements
• Emerging markets: Nigeria lifted its 2021 crypto ban and now grants provisional licenses, Kenya is finalizing comprehensive virtual asset legislation, and Ghana plans licensing by September 2025
• Restrictive approaches: Morocco, Algeria, and Egypt maintain complete cryptocurrency bans, while many countries operate in regulatory grey zones without formal frameworks
• Future outlook: More African nations are moving toward regulated crypto environments, encouraging local innovation and attracting foreign investment with clearer compliance pathways