The regulatory quagmire stifling Francophone Africa’s startups
Francophone Africa has a growing startup ecosystem, but expanding across borders remains difficult. From OHADA regulations to currency restrictions, several structural barriers make it harder for startups to scale across the region.
Regulations and bureaucratic inertia continue to hinder the growth of startups in Francophone Africa, despite the continent boasting a vibrant startup ecosystem with relatively stable currencies in comparison to major global economies. Founders across Francophone Africa face a challenging fight against systems that seem designed to stifle progress.
A recent development between Ghana and Rwanda, highlighted during a FinTech Forum in Kigali last month, involves the Bank of Ghana and the National Bank of Rwanda signing the first-ever African cross-border license passporting agreement. This accord allows fintechs licensed in either country to operate within both markets with minimal additional permissions, potentially making cross-border payments more seamless and efficient between the two nations.
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