Stablecoins are rapidly gaining traction across Africa, promising faster payments, cheaper remittances, and broader financial inclusion in countries grappling with inflation and currency volatility.
Yet beneath the excitement lies a growing concern: most stablecoins are pegged to the US dollar, raising the risk of deepening dollarization and eroding the monetary sovereignty of African nations.
By turning smartphones into gateways for “digital dollars,” stablecoins can bypass banks, regulatory capital controls, and central bank oversight.
As US regulation strengthens trust in dollar-backed tokens, African economies such as Nigeria and Kenya could become even more dependent on foreign-controlled financial systems.
Experts argue that African countries must strengthen their own currencies through sound fiscal policy and consider launching sovereign digital alternatives, such as central bank digital currencies or commodity-backed regional stablecoins, to counter this.
ENTEBBE, Uganda, 27 October 2026 -/African Media Agency(AMA)/ - When nine-year-old James Ssemambo developed severe…
International Space Station’s use of tabular AI and expanded partnerships demonstrate the art of the…
UNICEF says a conditional deal could lower the RTS,S malaria vaccine price by about 40%…
An African Development Bank report points to faster growth while warning that Zambia still faces…
A partnership backed by a $1 million grant is mapping skills demand and planning local…
The financing is designed to cushion energy costs while supporting Botswana’s private-sector and jobs reforms.