Nigeria’s foreign reserves have climbed to about USD51 billion, a decade-plus high, according to Central Bank of Nigeria (CBN). EBC Financial Group (EBC) notes that this reflects stronger investor confidence, but the second half may show whether it holds, as the build rests on three cyclical drivers: oil earnings, short-term foreign money and a narrowing official-to-street naira gap.

Reserves rose from about USD32 billion in April 2024, during a dollar shortage, to about USD51 billion now, near the CBN’s target. Much came from two cyclical sources, strong oil earnings and money chasing high-yielding naira assets, so EBC expects the pace to slow or reverse. Fitch Ratings, a major international credit rating agency, expects a marginal decline to about USD47 billion by the end of 2026, citing higher spending and external pressures.

David Precious, Senior Market Analyst at EBC Financial Group, said, “Nigeria’s reserve build is real but may not be durable yet, because nearly all of the new money is the kind that can leave quickly. Of the USD10.37 billion that came in over the first quarter, the overwhelming majority was short-term portfolio funds rather than long-term investment, so a shift in oil prices, global interest rates or confidence in the naira might pull a large part of it straight back out.”

Most New Money Can Still Leave Quickly

The composition of the foreign inflows explains the caution over how long the build can last. The country attracted USD10.37 billion in foreign investment in the first quarter of 2026, up 83.83% year-on-year, according to the National Bureau of Statistics (NBS). Of that, USD9.86 billion or 95.09%, was portfolio money, largely short-term naira debt such as Treasury bills that investors can sell at the next auction, while foreign direct investment, the long-term kind that builds factories and jobs, was USD135.08 million, or 1.30%. Put simply, of each dollar coming in, about 95 cents can leave quickly and barely one cent stays.

That money supports reserves while it stays. Dollars brought in to buy naira assets add to market supply, letting the CBN hold more reserves and steady the naira. It leaves when conditions change. Nigeria earns most of its export dollars from oil and gas, so lower oil prices mean fewer dollars, and as a member of the Organization of the Petroleum Exporting Countries (OPEC) it cannot simply produce more, output capped by quota and reduced by theft and ageing fields. Higher global interest rates draw money toward safer returns abroad, and a weakening naira prompts investors to sell early. When oil fell in 2016 and 2020, foreign investors withdrew and could not convert naira to dollars as supply dried up, leaving the CBN to clear more than USD7 billion in trapped obligations into 2024.

The Oil Boost is No Longer Certain

Oil looked like a dependable source of the dollars behind the reserves only months ago. Earlier in 2026, concern over disruption around the Strait of Hormuz lifted crude prices, and stronger receipts flowed in, with crude oil export earnings of USD8.11 billion in the first quarter in the CBN’s balance-of-payments data. That support is now easing. The tension has subsided and Brent traded near USD72 on 29 June, down about 24% over the month, back to pre-conflict levels. With the price boost gone and output constrained, reserves are more exposed, leaning on non-oil earnings and investor patience rather than oil.

The Naira Still Trades at Two Prices

The naira has traded at two prices, an official rate and a higher parallel-market rate, and closing that gap into one trusted price is what many investors might watch most. Before committing funds, they may want assurance they can convert naira to dollars at a fair rate when they exit, and a wide gap revives the fear of being trapped that lingers from earlier shortages. The gap has narrowed to roughly NGN20 to NGN30, with the CBN’s official rate near NGN1,380 per dollar on 26 June against parallel-market quotes around NGN1,400. The International Monetary Fund (IMF) 2026 Article IV review urged Nigeria to depend less on this fast-moving portfolio money and to keep phasing out its multiple exchange-rate practices. The CBN’s Foreign Exchange Manual, in force from 1 June, is intended to make the market clearer, though such rules build confidence only once investors can freely trade dollars at the posted rate.

What could Make the Build Durable

A few signs that may show the build turning durable include a smaller gap between the official and street naira rates, more long-term foreign investment, and steadier oil earnings. A gap that stays small, now roughly NGN20 to NGN30, may mean investors trust the official rate and no longer need the street market. A clear rise in foreign direct investment, only USD135 million last quarter against USD9.86 billion of short-term money, might mean lasting capital is replacing funds that can leave at the next auction. Oil earnings that hold up, rather than sliding from the low USD70s, should help keep reserves steady, since oil and gas bring in most of Nigeria’s export dollars.

“Reserves built on money chasing high yields can fall as fast as they rose, as they did after the last two oil shocks, when investors left and the CBN spent years clearing a foreign-exchange backlog,” Precious added. “What holds through a downturn is slower money, direct investment, steady oil and non-oil export earnings and one credible naira rate, and that is the shift Nigeria has yet to make.”

Across Africa, talent is not in short supply. What is missing is the infrastructure that helps skilled professionals move from potential to progression, and from experience to long-term career momentum. Many already have the ability, ambition, and technical foundation to advance, but lack the structured support, career development, networks, visibility, and employer access required to turn that ability into sustainable success.

EMERGE brings these critical pieces together in one place. Built on a simple but powerful idea that Africa’s talent challenge is not a shortage of ability, but a shortage of the infrastructure needed to support, develop, and advance it, the platform brings together the elements of career development that too often sit apart: structured learning, professional diagnostics, mentorship, peer support, employer engagement, and access to opportunity.

For professionals, EMERGE provides greater clarity, confidence, skills, visibility, and support to progress with intention. For employers, it creates access to a stronger, better-prepared, and more visible talent pipeline. For the wider economy, it helps more of Africa’s young professionals move into roles where they can contribute, lead, and grow, strengthening organisations and labour markets across the continent.

Developed with support from the Mastercard Foundation, EMERGE is already home to a growing community of more than 1,700 young African professionals, creating a powerful network of emerging talent across the continent. Around six in ten EMERGE members are women, reflecting a deliberate commitment to widening access for talented professionals who are too often overlooked by traditional career pathways. Open to professionals across the continent, EMERGE is building a more inclusive and representative pipeline for Africa’s next generation of leaders.

Speaking at the launch, Marcia Ashong-Sam, Founder and CEO of TheBoardroom Africa, said: “The issue has never been a lack of capable talent in Africa. The real challenge is that access to opportunity remains uneven, and career progression is too rarely supported in a structured, intentional way. EMERGE was created to change that. We are building the career infrastructure that too many young professionals have had to navigate without: a platform that helps them translate ambition and ability into sustainable, meaningful careers, while connecting employers to a stronger and better-prepared pipeline of African talent.”

The platform gives members access to a dynamic mix of live masterclasses led by industry practitioners, career-focused programming designed to build resilience and progression, self-paced courses through its Learning Hub, and thoughtfully selected career opportunities with some of Africa’s most innovative employers.

The EMERGE journey begins with the Leadership Compass, the platform’s proprietary baseline assessment, which gives each member a clearer view of where they are in their professional journey and where focused development could unlock the greatest growth. Insights from the assessment help shape a more personalised pathway through the EMERGE experience.

For employers, EMERGE offers a seamless way to invest in professional development at scale. Organisations can enrol staff cohorts on the platform, giving their teams continuous access to high-quality career development tools, masterclasses, learning pathways, and progression-focused support through the programmatic rhythm of the EMERGE experience. Employers also benefit from aggregate cohort insights, enabling them to track progress, understand development priorities, and make more informed decisions about talent growth, retention, and internal mobility. In this way, EMERGE becomes more than a learning platform; it becomes a practical development pathway for building stronger, more prepared leadership pipelines from within.

Ashong-Sam added, “The needs of employers and professionals are closely connected. Employers want people who can grow with the business, contribute to strategy, and take on greater responsibility over time. Professionals want work that gives them progress, purpose, and financial stability. EMERGE brings both sides into the same conversation, with a focus on readiness, development, and opportunity.”

The platform reflects TheBoardroom Africa’s wider work to strengthen leadership ecosystems across the continent. Over the past decade, the firm has worked with senior executives, board leaders, and institutions across African markets and globally, giving it direct insight into the gaps that begin much earlier in people’s careers. EMERGE applies that experience at an earlier stage, supporting professionals before they reach senior roles and building a stronger pipeline of talent prepared for greater responsibility and decision-making.

EMERGE is open to professionals across Africa and will continue to expand its membership while engaging employers looking to strengthen their talent pipelines.

Jim Swartz, Chairman and Managing Director, CNL, said that the agreement underscores the NNPCL/CNL Joint Venture’s commitment to safe and reliable gas delivery while supporting Nigeria’s broader gas development. “By strengthening the interface between CNL’s Escravos Gas Plant and NGIC’s transportation network, we are helping to enhance energy security, infrastructure efficiency and long-term value creation for Nigeria,” he said.

Olusoga Oduselu, Chief Corporate Affairs Officer, CNL, stated that the development of Nigeria’s uniform NEA framework places Nigeria among the league of countries whose central gas pipeline transporters operate under a standardized framework governing gas injection and offtake.

“By establishing this common gas injection and offtake framework, the NEA reinforces the critical gatekeeping role of the gas Network Operator, NGIC, and delivery facility operators — like CNL, as operator of the NNPCL/CNL Joint Venture— in ensuring that incoming gas does not compromise the safety, integrity, or efficiency of the national gas network,” he noted.

The approval represents a significant step in Luno Nigeria’s regulatory journey, following an extensive engagement process with the SEC, and reflects the company’s commitment to building within Nigeria’s evolving digital asset regulatory framework.

Admission into ARIP means Luno has satisfied the SEC’s requirements to participate in the programme and is authorised to operate within its defined scope, subject to the Commission’s ongoing compliance obligations and regulatory conditions.

Luno has operated in Nigeria since 2015 and was one of the first cryptocurrency exchanges to serve the market. The company has since built a strong local presence, combining global expertise with deep local market experience, and continues to view Nigeria as one of its most important markets globally.

Speaking on the approval, Luno Nigeria CEO Ayotunde Alabi said, “This is an important milestone for Luno Nigeria and a strong validation of our commitment to building responsibly in one of Africa’s most important cryptocurrency markets. Admission into ARIP gives us a clearer regulatory pathway, strengthens trust with customers and partners, and provides a stronger foundation for the next phase of our growth, particularly as we expand our focus on institutional and B2B opportunities. We are grateful to the SEC for its continued engagement and to everyone across Luno whose hard work, resilience, and commitment helped us get to this point.”

As Luno continues to expand its operations across B2B operations, engaging banks, fintechs, payment providers, asset managers and corporate institutions exploring digital asset solutions, regulatory clarity is increasingly becoming a prerequisite. Admission into ARIP strengthens Luno’s ability to engage these organisations as demand grows for compliant digital asset infrastructure, including stablecoin applications, treasury solutions, crypto-as-a-service offerings and secure access to digital assets.

ARIP is an innovative regulatory environment designed to fast-track the on-boarding of digital asset and other investment service providers (like Virtual Asset Service Providers and tokenised product platforms) through a controlled regulatory sandbox. It allows the Commission to assess novel business models and technologies in a controlled regulatory environment to ensure that appropriate safeguards are in place to protect investors and preserve market integrity.

Building on the initial licensing rollout in 2024, Luno’s inclusion in the programme’s second batch reflects Nigeria’s commitment to creating a structured, transparent environment for the sector to grow. The development strengthens trust among customers, institutional partners, regulators and the wider market.

The revocation of the licenses was announced in a statement signed by Sidi-Ali Hakama (Mrs), the CBN Acting Director of Director, Corporate Communications Department.

According to the statement, the licenses of the banks were revoked from July 1, 2026, in accordance with powers conferred on the CBN bank under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.

The statement further indicated that the revocation was approved by CBN governor, Olayemi Cardoso, following the banks’ failure to meet the regulatory requirements for continued operation as licensed financial institutions.

Hakama cited the reasons for the revocation of the licenses of the micro finance banks to include insufficient assets to meet liabilities, closure of operations without the CBN approval, inactivity and cessation of financial intermediation, failure to commence operations within 12 months of licence approval, and failure to maintain minimum capital funds unimpaired by losses.

“The revocation of the licenses is part of the Bank’s ongoing efforts to safeguard the stability of the financial sector, protect depositors, and ensure that licensed institutions comply with
current laws and regulatory requirements.

“The Central Bank of Nigeria remains committed to promoting a safe, sound and resilient financial system and will continue to take appropriate supervisory and regulatory actions, where necessary, to maintain public confidence in the Nigerian financial system,” Hakama said.

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Nigeria’s halt of a fake Dangote refinery share offer may be less about one rumoured deal and more a signal about where the country’s market reform now needs to focus. Nigeria has compressed the settlement cycle for eligible capital-market trades from three business days to one business day in under seven months, a technical change that speeds up the exchange of securities and cash after a trade is made. This case suggests the challenge now is making sure the licensed capital-market operators using that faster system follow the rules, which is a different kind of task from the technology upgrades already completed.

“Finishing trades faster is not the problem here, and the decision to speed them up looks like a sound reform,” said David Precious, Senior Market Analyst at EBC Financial Group. “Completing a trade in one day instead of three makes the market run more smoothly. The trade-off is that it leaves less time to catch a fake offer before the money has already changed hands. That is why careful checks may matter more than ever, and why they may need to happen before any money is taken, rather than after.”

On 23 June 2026, the Securities and Exchange Commission (SEC) issued a cease-and-desist directive stating that no application for an initial public offering (IPO) by Dangote Petroleum Refinery and Petrochemicals FZE had been filed with or approved by the Commission. The SEC found that some licensed operators, including stockbroking firms and digital platform promoters, had been collecting advance payments from investors for the fake offer. It ordered them to stop all promotion, withdraw their marketing materials and refund the money collected within 24 hours. Operators who fail to comply face sanctions under Nigeria’s Investments and Securities Act 2025.

Timing is important here because the SEC intervention came just weeks after T+1 went live, showing that conduct failures by licensed securities intermediaries can become more serious when settlement timelines are shorter. The SEC directive came less than a month after Nigeria completed its move to T+1 settlement on 1 June 2026. T+1 means a stock trade must now be fully completed within one business day instead of three. This was the final step in a fast reform that took the market from a three-day cycle to a one-day cycle in under seven months, after first moving from three days to two on 28 November 2025, according to the Central Securities Clearing System. The SEC introduced T+1 to make the market more efficient, reduce the risk that one side of a trade fails to deliver, make it easier to buy and sell, and bring Nigeria in line with international standards. Those gains are real and worth protecting. But a faster system may also change how much damage bad behaviour can do.

How Nigeria’s Reform may be Shifting from Faster Technology to Stronger Conduct

Nigeria’s reform so far has focused largely on technology and rules: a shorter settlement cycle, upgraded clearing systems and a new securities law. This episode points to conduct supervision as the next pressure point in Nigeria’s capital-market reform. The weakness here did not appear to lie in the trading system itself. It appeared to lie in the behaviour of some of the licensed securities intermediaries and platforms operating on top of it. Licensed firms, rather than anonymous fraudsters, were collecting money for an offer the regulator had never seen. The people investors are meant to rely on appeared to be the ones moving ahead of the rules, and a faster market may give the least room to put that kind of mistake right.

The issue should not be framed only as retail investors responding to an online rumour. The SEC directive said licensed capital-market operators were involved in soliciting advance subscriptions, which puts the focus on regulated intermediary conduct as well as investor caution. The fake offer may also have spread easily for an understandable reason. A genuine Dangote share sale had long been expected, so a fake one could look believable. A trusted brand name and a widely anticipated deal may be exactly the conditions in which careful checking matters most, because they may also be the conditions in which investors feel most able to skip it.

Why is it Important for Nigeria’s Effort to Win Back Investor Trust

Nigeria has spent the past year rebuilding its reputation with investors. Currency reforms, stronger reserves and a sovereign credit rating upgrade have all been used to argue that the market is becoming more stable and more worth investing in. The faster settlement system may be seen as part of that same modernisation story. Such behaviour by licensed operators could work against it. Investors, both foreign and local, may not separate the quality of a market’s technology from the conduct of the people running it. They may treat both as one risk. A faster, cleaner trading system may count for less if licensed operators can still collect money for offers that do not exist.

This may be why the SEC basing its action on the Investments and Securities Act 2025 carries weight beyond this single case. As one of the first major enforcement actions under Nigeria’s updated market law, it could set an early example of how seriously rule-breaking will be treated as the market speeds up.

What does this Mean for Licensed Platforms and Market Operators Moving Forward

The takeaway may be less about caution and more about building checks into the system itself. In a one-day market, verification may no longer work well as a slow step performed late in the process. It may need to act as a live safeguard at every point where an offer is promoted, where an account is opened and where money is taken. The standard implied by the directive seems straightforward; operators may be best served by taking no money, opening no accounts and promising no shares until an offer has been filed with the regulator, reviewed and approved. For Nigeria’s capital market, conduct standards may now need to keep pace with the faster settlement infrastructure already in place.

“Nigeria moved from three-day to one-day settlement in a short space of time, and that is an achievement,” Precious added. “The test of the reform may be less about the timeline and more about whether licensed securities intermediaries, platforms and advisers working within it can be trusted to act properly when there is far less room to correct a mistake. That may be the part of the journey that still lies ahead.”

Leading telecommunications infrastructure provider, Phase3 Telecom, has reaffirmed its commitment to expanding broadband penetration across Nigeria, highlighting over two decades of strategic investments in critical digital infrastructure that continue to support connectivity nationwide.

The Executive Chairman of Phase3 Telecom, Mr. Stanley Jegede, spoke on the company’s contributions to Nigeria’s digital ecosystem while receiving members of the Executive Committee of the Guild of Corporate Online Publishers (GOCOP), who paid him a courtesy visit at the company’s Abuja office on Thursday, June 18th, 2026.

Speaking during the meeting, Mr. Jegede noted that Phase3 Telecom has spent the last 23 years building infrastructure that enables connectivity for millions of Nigerians, support for mobile network operators, educational institutions, businesses, and other critical sectors of the economy.

“We are a responsible organisation that has been in existence for twenty-three years. Our primary focus has been supporting broadband penetration, and we have successfully delivered on that mandate,” he said.

“We have built infrastructure across 36 states of the federation, providing services to mobile network operators, schools, businesses, and other institutions. Much of what we do happens behind the scenes, but the mobile networks Nigerians rely on every day depend significantly on our infrastructure.”

According to him, the company remains focused on further expanding broadband access and supporting national efforts to bridge the digital divide.

“Our goal is to continue increasing broadband penetration across the country. We are working closely with government and regulators to ensure that we achieve even higher levels of connectivity and digital inclusion.”

Mr. Jegede further linked broadband development to broader socio-economic progress, stressing the importance of access to reliable information in a digitally connected society.

“As we continue helping Nigerians access the connectivity required for everyday life and economic activity, it is equally important to support institutions that ensure the information people consume is accurate and credible. That is why we value organisations such as GOCOP, which promote responsible journalism and factual reporting.”

The Phase3 Telecom Chairman also pledged the company’s support for initiatives that strengthen media professionalism and promote public access to credible information.

“Good journalism is good for the country. There is no doubt that Nigeria is better off because of it. We should continue to explore opportunities for collaboration that advance both national development and informed public discourse,” he added.

Earlier, the President of GOCOP, Mr. Danlami Nmodu, mni, sought the support of Phase3 Telecom for the Guild’s Annual General Meeting (AGM), scheduled for October 8, 2026, in Lagos.

Nmodu described GOCOP as a trusted platform of professional online publishers committed to ethical journalism and credible reporting.

“We are a body of seasoned professionals who take our ethical responsibilities seriously. We work hard to ensure that whatever is published by GOCOP members is reliable, accurate, and professionally produced,” he said.

He noted that sustained investment in media organisations is essential to strengthening investigative journalism, special reports, and other forms of public-interest reporting.

“The more resources available to media organisations, the greater their capacity to undertake investigative and developmental journalism. Supporting quality journalism ultimately strengthens democracy, promotes accountability, and advances good governance,” Nmodu added.

The GOCOP delegation included the Guild’s General Secretary, Mr. Sufuyan Ojeifo, and Publicity Secretary, Ms. Kemi Yesufu.

Phase3 Telecom is Africa’s leading independent aerial fibre optic network infrastructure and telecommunications services provider. The company operates across the ECOWAS region and serves international markets through strategic partnerships that enable connectivity for clients in more than 400 cities worldwide.

Paystack Index builds on existing Paystack products, such as Paystack Checkout, by giving Zap users in Nigeria a new way to check out with supported Paystack merchants via AI agents. The product is launching in early access as Paystack learns how people want to use AI agents to get things done, starting with familiar tasks like buying airtime and mobile data, funding wallets, sending money, and paying for food.

Paystack Index is live in Nigeria and currently works with supported AI clients, including Claude, ChatGPT, and OpenClaw. At launch, it supports airtime and mobile data purchases across major Nigerian networks, transfers via Zap, and food ordering through Chowdeck.

With Paystack Index, users can ask a supported AI agent to complete a task. Index interprets the request, routes it to the right provider or supported Paystack merchant, processes the transaction through Zap and Paystack’s payment infrastructure, and helps the user complete checkout securely within the AI experience.

Users remain in control of what they authorise. Index only acts on requests that users send through their chosen AI agent and within the permissions and limits they set. Index does not store card numbers, CVVs, PINs, or bank account credentials, and transactions are processed through Paystack’s secure payment infrastructure.

“Paystack has always focused on helping businesses get paid safely and reliably, wherever their customers are,” said Shola Akinlade, CEO of Paystack. “As AI agents become a more common way for people to search, decide, and take action, we think checkout has to evolve too. Paystack Index is an early experiment in extending Paystack’s checkout infrastructure into AI experiences, starting with users in Nigeria and a few supported merchants and services. The goal is simple: help users complete everyday transactions more easily, while keeping authorization, permissions, and payment processing on trusted Paystack rails.”

As part of the controlled beta, Paystack will continue to test how users interact with AI agents for commerce, how merchants can safely participate in AI-led checkout experiences, and what infrastructure will be needed as this behavior evolves.

Paystack Index is now live in Nigeria in early access, with more features, supported merchants, billers, and African markets coming soon.

Millions of businesses worldwide rely on WhatsApp to communicate with customers, yet many still manage sales and marketing manually through broadcasts and one-on-one messaging. Tisabot addresses this challenge by enabling businesses to automate customer conversations, run compliant WhatsApp campaigns through the Official WhatsApp API, and convert chats into sales using artificial intelligence.

The platform acts as an Al-powered sales assistant that can instantly respond to customer inquiries, answer questions, recommend products, follow up with leads, and provide customer support around the clock.

Through an impact partnership with Elevenlabs, tisabot.com also extends its services to provide a superstore called ShopOnTisa, a WhatsApp-based eCommerce marketplace that allows businesses all over the world to upload products, receive orders, answer customer questions, and complete transactions without requiring a website or mobile app.

The company integrates advanced Al technologies to support both text and voice interactions, enabling businesses to engage customers through natural conversations on the messaging platform they already use daily.

“Our vision is to become the operating system for businesses that run on WhatsApp. We believe the future of commerce will be driven by conversations, where customers simply send a message and Al handles sales, support,3 and engagement instantly, ” the founder and CEO, Israel Kehinde said.

Tisabot is currently preparing for its MVP launch in Delaware and is raising a pre-seed round to support product development, WhatsApp integrations, customer acquisition, and team expansion.

The company aims to help small and medium-sized businesses across emerging markets grow through Al-powered conversational commerce while contributing to economic growth and digital inclusion.

The third billion was processed in under nine months, three months faster than the previous billion. Daily transaction volumes nearly doubled over the same period, rising from approximately 2.4 million to five million.

African mobile money grew 26% in transaction value last year, with merchant payments globally up 50% to $155 billion (GSMA State of the Industry Report 2026). PawaPay’s transaction volumes have grown faster than the broader market across several of the sectors it supports.

Mobile money increasingly sits behind a long tail of smaller businesses across the continent: from optical chains like Lapaire processing eye-test and glasses payments across multiple markets, to e-commerce operators in cities like Kampala, education technology platforms collecting parent payments, and retail businesses processing daily takings.

PawaPay connects businesses to almost 50 money operators across 20 African markets through a single API, giving access to more than a billion wallets, with direct regulatory licences where required by local frameworks. The company has processed over €10 billion in payments to date.

PawaPay supports merchants through a single integration that manages operator connectivity, settlement, FX, reconciliation and regulatory coverage across its markets. Since 2022, the company has also used stablecoins within its treasury operations to reduce settlement float and improve predictability across different currencies.

Heiti Allak, Director of Product at PawaPay, said: “Businesses expanding across Africa should not have to build a payments company inside their own organisation. That is what happens when each new market adds operator relationships, settlement flows, support processes and treasury requirements. PawaPay takes that complexity away from the business, enabling them to focus on their customers and growth. Three billion transactions is what mobile money looks like when it sits behind everyday economic activity, from transport and subscriptions to remittance and humanitarian support.”

Over the past six years, PawaPay has supported businesses using mobile money across sectors including remittance, transport, digital services and humanitarian payments. Companies including Deriv and GiveDirectly rely on PawaPay to operate across multiple African markets through a single integration.