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💵 Kenya–Rwanda Cross-Border Fintech Licensing

💵 Kenya–Rwanda Cross-Border Fintech Licensing

Plus: 🌐 Nigeria Satellite-to-Phone 5G Expansion

Innovation Village
March 13, 2026

In partnership with

TGIF👋

East Africa is taking a major step toward fintech integration as the Central Bank of Kenya and the National Bank of Rwanda agree to recognize each other’s payment service provider licences. The new passporting framework will allow fintech companies licensed in one country to operate in the other without repeating the full licensing process, significantly reducing compliance costs and accelerating regional expansion. The initiative supports the broader integration goals of the East African Community and could strengthen cross-border digital payments across the region.

Meanwhile, Nigeria is exploring direct satellite-to-phone connectivity as part of its broadband expansion strategy. The Nigerian Communications Commission says the technology could complement 5G rollout and connect remote communities by linking smartphones directly to satellites such as those used by Starlink, helping bridge Nigeria’s digital divide and accelerate nationwide internet access.

Let’s dive in👇

Today’s Menu ☕️

💵 Kenya and Rwanda sign landmark deal to enable cross‑border fintech licensing
🌐 Nigeria Explores Satellite-to-Phone for 5G Expansion
💸 Divest Launches Money Xchange for Cross-Border Payments
💵 Easybuy to Recruit 10,000 Sales Reps in Nigeria in 2026
🪙 Ghana SEC Launches First Crypto Sandbox
💵 Tony Elumelu Deploys $100M to Boost African Startups
🤖 Amazon to lay off another 14,000 employees in Q2 amid aggressive AI transition

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🌐 CONNECTIVITY

Nigeria Explores Satellite-to-Phone for 5G Expansion

Nigerian Communications Commission (NCC) is exploring satellite-to-phone connectivity as part of Nigeria’s strategy to expand broadband access and accelerate 5G deployment. The initiative, outlined in the country’s Spectrum Roadmap for 2026–2030, aims to improve internet access in rural and underserved areas where traditional telecom infrastructure is difficult or costly to deploy.

Direct satellite-to-phone technology allows smartphones to connect directly to satellites without relying entirely on mobile towers. The concept has gained global attention through initiatives such as SpaceX’s Starlink service, which is developing satellite connectivity for mobile devices. Nigeria plans to use this technology as a complementary layer to existing telecom networks, helping maintain connectivity during outages and extending coverage to remote regions.......….continue reading

💵 FINTECH

Kenya and Rwanda sign landmark deal to enable cross‑border fintech licensing

Kenya and Rwanda are moving to establish a shared regulatory framework that will allow digital payments companies licensed in one country to operate in the other without undergoing a fresh licensing process. The initiative, expected to significantly reduce cross‑border compliance hurdles, marks a major step toward easing regional expansion for fintech firms across East Africa.

According to multiple announcements issued on March 11, 2026, the Central Bank of Kenya (CBK) and the National Bank of Rwanda (NBR) signed a Memorandum of Understanding (MoU) to jointly develop a Licence Passporting Framework for payment service providers (PSPs). The agreement commits both regulators to recognizing each other’s licensing requirements and coordinating their supervisory roles.....….continue reading

💵 CROSS-BORDER PAYMENTS

Divest Launches Money Xchange for Cross-Border Payments

Divest has launched Money Xchange, a cross-border payment service integrated into its mobile app to simplify money transfers across Africa. The platform currently enables users to send funds between Nigeria, Kenya, Ghana, and South Africa, combining traditional fiat payments with Divest’s crypto-to-cash infrastructure.

The service addresses common challenges in African remittances, including high transfer fees, hidden charges, and slow settlement times. Money Xchange offers transparent exchange rates, shows the exact amount recipients will receive, and includes a rate-lock feature to protect users from currency volatility...........….continue reading

💵PAYMENTS

Easybuy to Recruit 10,000 Sales Reps in Nigeria in 2026

Easybuy, a leading African Buy Now Pay Later (BNPL) platform, has announced plans to hire 10,000 business developers across Nigeria in 2026 through its Easybuy Sales Talent Program. The initiative targets sales professionals, recent graduates, stay-at-home parents, POS operators, and SIM registration agents, offering a base monthly pay plus commissions and mobile-enabled flexible work.

Participants will receive training in sales and digital skills, promoting financial independence and professional development. The program aligns with broader social impact goals, including job creation and financial inclusion, and complements Easybuy’s expansion in Africa’s BNPL market, which spans Nigeria, Ghana, Côte d’Ivoire, Senegal, and Tanzania.....….continue reading

🪙CRYPTOCURRENCY

Ghana SEC Launches First Crypto Sandbox

Ghana’s Securities and Exchange Commission (SEC) has launched its first regulatory sandbox for digital asset firms, admitting eleven companies under the Virtual Asset Service Providers (VASP) Act of 2025. The 12-month pilot provides a controlled environment for crypto startups to test products and business models while complying with consumer protection, anti-money laundering, and market transparency rules.

The sandbox has two phases: early approval for operationally ready firms (Months 1–6) and extended refinement for others (Months 7–12), leading to full licensing. The SEC will use insights from the program to finalize VASP regulations.........….continue reading

💵FUNDING

Tony Elumelu Deploys $100M to Boost African Startups

African investor and philanthropist Tony Elumelu has deployed over $100 million in seed capital to support startups across Africa through the Tony Elumelu Foundation (TEF) since 2010. The program provides funding, mentorship, training, and market access to early-stage entrepreneurs.

Elumelu emphasized the continent’s youthful talent as Africa’s key asset, highlighting the need for opportunities, capital, and mentorship. The foundation continues its mission with 3,200 new entrepreneurs set to receive support in March 2026, reinforcing TEF’s role as a major driver of startup growth, job creation, and economic development across Africa..................….continue reading