Kenya’s Crypto Tax: Threat to Africa’s Digital Economy and Fintech Leadership?

Kenya’s introduction of a 1.5% tax on cryptocurrency transactions poses a significant threat to Africa’s digital integration. This new regulation could jeopardize the region’s potential as a fintech hub, driving startups and skilled professionals away from the continent. Despite Africa’s ambition for a unified market under the AfCFTA agreement encompassing digital assets, conflicting regulatory frameworks across various countries are hindering this vision of interconnectedness.