Africa crypto news in review: Roqqu expands to Kenya as South Africa cracks down on scams. Ghana to clarify on VASP registration.
Nigerian exchange Roquu has acquired a Kenyan startup as it eyes the East African market. Meanwhile, South African regulators are stepping up their efforts to combat fraud in the online crypto space.
In Ghana, the Central Bank is finally set to issue directives on registration for Virtual Asset Service Providers (VASPs). Clarity will only encourage more businesses to set up shop, allowing users to get exposure in the next 1000X cryptos.
Let’s take a brief look at these continental headlines below:
Kenya Crypto News: Nigerian Exchange Acquires Kenyan Startup
Nigerian crypto exchange Roqqu has acquired Kenyan startup Flitaa as it eyes growth in the East African market.
Flitaa launched in 2019 and operates in Kenya, Tanzania, Uganda, and Ghana. Roqqu acquired the startup to become a truly pan-African platform, boosting the number of people investing in some of the best cryptos to buy.
The East African market is fertile ground for the Nigerian entity. Kenya and Uganda are also anglophone countries, with supporting regulatory frameworks for external investors.
Kenya’s move to enact the Virtual Assets Providers Bill will clarify the market for external investors looking to enter.
Roquu has made an early bet on this growth, hoping to become a notable player in these markets.
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South Africa Crypto News: Regulators Crack Down on Online Scams
The financial market regulator in South Africa, the Financial Sector Conduct Authority (FSCA), has announced that it will spend 200 million Rand over the next 18 months to combat online scams.
This move comes amid South Africa’s general reckoning and need to modernize its financial sector regulation.
Unfortunately, crypto is a component of the scam blueprint. South Africa has had several infamous cases, such as the disappearance of about 70,000 BTC from a platform called Africrypt in 2021.
WARNING FOR FINANCIAL INFLUENCERS
The Financial Sector Conduct Authority (FSCA) of South Africa is confronting the rise of unregulated financial influencers, or “finfluencers,” who offer advice on popular social media platforms.
As of April 2025, the FSCA is investigating… pic.twitter.com/nPCJFQIyWu
— Business Explainer (@BuzinessX) April 7, 2025
The investment in cracking down on online scams can be positive for the crypto sector, which has struggled with the proliferation of such entities.
Ghana Crypto News: Central Bank Issues Directives On Registration
After months of hinting at new regulations, the Central Bank of Ghana has issued a directive for all virtual asset service providers to register by August 15.
The Central Bank is issuing the directive to comply with international trends on disclosure and regulation of crypto exchanges.
For years, Ghana had little regulation of the crypto sector. However, the growing usage in the local market and pressure from international entities have resulted in this update.
Crypto stakeholders will look to comply with this deadline to continue operations in this market.
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Africa Crypto News: Roqqu In Kenya, Ghana On VASP Registration
Kenya Crypto News: Roqqu expands to Kenya after Flitaa acquisition
South Africa Crypto News: Financial Sector Conduct Authority to combat online scams
Ghana Crypto News: Central Bank of Ghana wants crypto businesses to register by August 15
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