At the Africa Tech Summit in Nairobi, African fintech startup Busha highlighted the potential of stablecoins to transform trade across the continent, presenting them as a solution to long-standing challenges in cross-border payments. The summit, which brought together tech leaders, investors, and policymakers, served as a platform for discussing innovations driving Africa’s digital economy.
Busha’s representatives emphasized that stablecoins — cryptocurrencies pegged to stable assets like the U.S. dollar — can reduce transaction costs, speed up settlements, and mitigate currency volatility that often complicates trade between African countries. For many businesses, especially small and medium-sized enterprises (SMEs), fluctuating exchange rates and expensive remittance fees create barriers to regional commerce. Stablecoins, according to Busha, offer a more predictable and efficient alternative.
During the summit, Busha showcased real-world applications where stablecoins are already being used to facilitate payments across borders, streamline supply chains, and support e-commerce operations. By leveraging blockchain technology, transactions become more transparent and traceable, enhancing trust among trading partners while reducing dependency on traditional banking infrastructure.
Industry analysts at the event noted that Africa’s fragmented financial systems have historically slowed economic integration. Fintech solutions like those championed by Busha can help bridge gaps between markets, making intra-Africa trade faster and more cost-effective. With initiatives like the African Continental Free Trade Area (AfCFTA) gaining momentum, digital currencies and stablecoins could play a pivotal role in unlocking new economic opportunities.
Busha also called for supportive regulatory frameworks across African countries to ensure the safe adoption of stablecoins. By promoting clear guidelines and collaboration between regulators and fintech companies, stablecoins could become a reliable tool for SMEs, exporters, and individuals engaging in cross-border trade.
The company concluded that embracing digital assets like stablecoins is not just about technology; it’s about creating practical solutions that empower African businesses, enhance regional commerce, and position the continent as a competitive player in the global digital economy.
Stablecoins, Busha argues, could soon become a cornerstone of Africa’s trade infrastructure, offering efficiency, stability, and inclusivity for businesses and consumers alike.
Leave a Reply