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A Clear Crypto Regulatory Framework Positions Ghana As A Fintech Hub In West Africa

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The Central Bank of Ghana (Bank of Ghana, BoG) is finalizing a regulatory framework for cryptocurrency platforms, set to be submitted to parliament by September 2025. The proposed Virtual Asset Providers Act aims to license and regulate Virtual Asset Service Providers (VASPs), including crypto exchanges and wallet providers, to ensure transparency, consumer protection, and financial stability.

VASPs must register with the BoG by August 15, 2025, and comply with anti-money laundering (AML), Know Your Customer (KYC), and counter-terrorism financing (CFT) regulations, aligning with global standards like those of the Financial Action Task Force (FATF). Approximately 3 million Ghanaians (17% of the adult population) use cryptocurrencies, with $3 billion in transactions recorded from July 2023 to June 2024, driven by remittances, savings, and cross-border payments.

The framework addresses challenges posed by the volatile Ghanaian cedi, which gained 48% in the past year after a 25% drop, aiming to improve financial data collection and manage currency impacts. The BoG is establishing a dedicated unit to oversee the digital asset sector, ensuring compliance and fostering innovation. The BoG is testing the eCedi, a central bank digital currency (CBDC), to integrate digital finance into the formal economy, alongside blockchain initiatives like the Ghana Gold Coin (GGC).

Ghana’s move mirrors efforts in Nigeria, South Africa, and Kenya to regulate digital assets, positioning it as a potential fintech hub in West Africa. The framework, developed with public and industry feedback, seeks to balance innovation with risk management, addressing issues like money laundering, fraud, and cybersecurity. The BoG’s 2024 Draft Guidelines on Digital Assets emphasize licensing, AML compliance, and consumer protection, building on a regulatory sandbox launched in 2022 with EMTECH Solutions to test blockchain innovations.

With 3 million Ghanaians (17% of adults) using cryptocurrencies, formal regulation could integrate these users into the mainstream financial system, especially for remittances and cross-border payments, which hit $3 billion from July 2023 to June 2024. Regulating crypto platforms will improve the BoG’s ability to track digital asset transactions, providing better data to manage the volatile Ghanaian cedi (up 48% recently after a 25% drop). This could reduce pressure on the currency and inform monetary policy.

A clear regulatory framework positions Ghana as a fintech hub in West Africa, potentially drawing foreign investment and fostering blockchain innovation, similar to Nigeria and South Africa. The framework supports the BoG’s eCedi (CBDC) pilot, enabling a regulated digital finance ecosystem that could reduce cash dependency and enhance transaction efficiency. Licensing and AML/KYC requirements will reduce risks of fraud, scams, and money laundering, protecting users in a market prone to crypto-related crimes.

Crypto platforms must comply by August 15, 2025, or face penalties, ensuring only legitimate VASPs operate, which could weed out unreliable actors. Adhering to FATF standards enhances Ghana’s credibility in international finance, reducing the risk of being gray-listed for weak AML/CFT measures. Regulation could normalize cryptocurrency adoption, encouraging hesitant users and businesses to engage, boosting digital payment adoption.

The framework balances innovation (via the 2022 sandbox and blockchain projects like the Ghana Gold Coin) with oversight, though strict rules might stifle smaller startups unable to meet compliance costs. The establishment of a Digital Assets Unit and growth in the regulated crypto sector could create jobs in fintech, compliance, and cybersecurity. Excessive compliance costs could deter smaller VASPs, concentrating the market among larger players and limiting competition.

The BoG’s capacity to enforce regulations and monitor a fast-evolving sector may be strained, especially with limited resources. While regulation mitigates some risks, crypto market volatility could still impact users and the economy if not carefully managed. Ghana’s proactive approach aligns with regional peers (Nigeria, Kenya, South Africa), potentially giving it a first-mover advantage in West African fintech.

Harmonized regulations could facilitate regional crypto trade, but differing standards across countries may complicate compliance for VASPs operating regionally. Overall, the framework could foster a safer, more inclusive digital economy while positioning Ghana as a leader in African fintech, provided the BoG balances regulation with innovation and effectively implements the rules.

dLocal Partners with RizRemit to Enhance Cross-Border Remittance Delivery in Africa and Asia

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dLocal, a leading cross-border payments platform focused on emerging markets, has announced a strategic partnership with digital remittance provider RizRemit to boost and streamline payout operations across critical corridors in Africa and Asia.

The partnership is designed to revolutionize remittance delivery by leveraging local payment rails and popular eWallets, enabling faster, more accessible, and efficient cross-border money transfers.

Through a single integration with dLocal’s platform, RizRemit now gains access to a broad network of local infrastructure, including bank payment systems and widely used eWallets such as OPay in Nigeria and JazzCash and EasyPaisa in Pakistan. This seamless connectivity allows recipients to receive funds through trusted, familiar channels, significantly reducing settlement times and operational complexity.

Speaking on the partnership, Muhammad Rizwan Javeed, CEO of RizRemit said,

“Remittances are a lifeline for our users and their families. To serve their needs, we have to offer options that work reliably. dLocal gives us access to local rails that make sending money faster and more intuitive, while keeping operations simple on our side.”

Martin Sapiurka, Head of Remittances at dLocal, noted, “RizRemit’s focus on high-efficiency remittance flows aligns with our strengths in local infrastructure. Together, we’re improving how cross-border payouts are made by connecting directly to the systems people rely on every day.”

The collaboration reflects a shared mission to enhance financial inclusion and remittance efficiency by simplifying the end-to-end payment experience for senders and receivers across emerging markets. According to the World Bank, remittances to low- and middle-income countries reached $656 billion in 2023, with Africa and Asia being key recipients. Nigeria alone received $20.1 billion in 2024. dLocal’s expertise in emerging markets, particularly its strong presence in Africa and Asia, complements RizRemit’s mission to simplify global money transfers.

Founded in 2019, Riz Remit Limited was established with the aim of simplifying international remittances. The company’s mission is to offer exceptional digital delivery services that are secure, reliable, quick, and affordable, with the lowest cost and greatest exchange rates available worldwide. 

Notably, dLocal partnership with RizRemit comes after its expanded relationship with payments giant PayPal, to offer businesses access to payment processing and local payment methods in more than 40 new untapped emerging markets.

By leveraging dLocal’s platform, global customers of PayPal Enterprise Payments, previously known as Braintree, can easily accept cards and process local and alternative payment methods across Latin America, EMEA, and APAC markets without establishing local entities. dLocal’s platform will handle both B2B and B2C payment flows, making it easy for businesses to connect with local customers and suppliers.

Founded in 2016, dLocal specializes in cross-border payment solutions for global merchants in emerging markets. Its “One dLocal” platform simplifies payments through a single API, enabling merchants to accept local payment methods (pay-ins), send payouts, and settle funds across over 40 countries, with more than 900 payment methods, including local cards, bank transfers, e-wallets, and cash payments.

dLocal provides localized payments, including mobile money, bank transfers, and digital wallets. The company simplifies cross-border payments in South Africa, Kenya, Nigeria, and Egypt with seamless integration and regulatory compliance.

The company serves industries like e-commerce, streaming, ride-hailing, gaming, and financial services, with clients including Amazon, Spotify, and Microsoft.

Through the “One dLocal” concept (one direct API, one platform, and one contract), international companies can accept payments, send pay-outs, and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.

OpenAI Set to Launch GPT-5, Its Most Powerful Artificial Intelligence Model Yet, in August

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After several delays, OpenAI says its next foundational model, GPT-5, could launch as early as next month, The Verge and Axios report. The timing is tentative, but there are indications that the release is imminent: Last week, OpenAI CEO Sam Altman teased on social media that it was coming “soon,” and testers and “red teams” are gauging its capabilities and security. GPT-5 is expected to merge traditional and reasoning models like o3, with mini and nano versions also available through its API.

OpenAI is preparing to launch its most powerful artificial intelligence model yet—GPT-5—as early as August, according to The Verge, citing sources familiar with the company’s internal timeline.

The release, if it happens as expected, will mark a critical leap in generative AI development and set the tone for the next stage of competition among global AI powerhouses.

The model has been under intense internal testing for months. Back in May, Microsoft engineers were reported to be provisioning significant server capacity in anticipation of a possible launch, prompting speculation about a release timeline that has since shifted slightly. Sources say that OpenAI has now entered the final phases of testing and refinement, with the infrastructure upgrades and technical evaluations largely in place.

OpenAI CEO Sam Altman has been steadily teasing GPT-5’s capabilities. In a recent podcast appearance with comedian Theo Von, Altman shared how the model solved a question he struggled with, prompting him to say he felt “useless relative to the AI.” He also confirmed publicly via a post on X that the model is coming soon, adding to growing anticipation across the developer and enterprise ecosystem.

One key element of the launch is the company’s planned release of mini and nano variants of GPT-5, designed to serve a range of needs from lightweight consumer applications to enterprise-grade deployments. These models will be offered via OpenAI’s API and platform, positioning the company to expand its reach across varied sectors, including software development, creative industries, customer service, finance, and education.

Unlike prior rollouts—such as GPT-4o, which introduced real-time multimodal capabilities—GPT-5 is expected to integrate a broader range of functionalities into a single, cohesive system. Altman has described the model as “a system that integrates a lot of our technology,” with internal discussions suggesting GPT-5 will combine memory, reasoning, multimodal input comprehension, and potentially real-time learning into a unified AI agent.

This bundling strategy reflects OpenAI’s intent to streamline user interaction with its tools by reducing fragmentation across different versions. The goal, according to developers close to the company, is to simplify deployment and ensure consistency in performance and behavior across devices and platforms.

The upcoming release is also seen as OpenAI’s strategic response to intensifying pressure from rivals like Google’s Gemini, Anthropic’s Claude, Meta’s Llama series, and Mistral’s open-weight models. As these companies race to dominate both foundational AI and consumer-facing interfaces, GPT-5 could determine whether OpenAI maintains its current leadership position or begins to cede ground to competitors offering faster, cheaper, or more open alternatives.

Beyond raw performance, OpenAI’s model strategy also carries significant commercial weight. Microsoft, a major investor in OpenAI, is expected to embed GPT-5 across its Azure cloud platform, Copilot products, and enterprise offerings. The integration could push further adoption of AI-powered workflows within Microsoft’s global client base, from small businesses to Fortune 500 firms.

As the launch window draws closer, developers and researchers are paying close attention to how GPT-5 will handle long-form reasoning, factual consistency, and safety guardrails—key issues that have dogged even the most advanced models. OpenAI has faced criticism over hallucinations and content control, and expectations are high that GPT-5 will demonstrate meaningful progress on these fronts.

For OpenAI, this is more than a product upgrade—it’s a litmus test for whether generative AI can transition from experimental hype to mission-critical infrastructure. GPT-4 was criticized for hallucinating, after users had expected that the model would not come with the shortfall. Even Altman said he was surprised at the model’s level of hallucination. GPT-5 is thus expected to be a better version, with many of the needed corrections.

U.S. Commerce Secretary Says TikTok Will Go Dark If China Doesn’t Approve Deal

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The brand is growing

TikTok is now racing against time as the U.S. government signals it will shut down the popular short-form video app unless its Chinese parent company, ByteDance, fully relinquishes control to American interests.

U.S. Commerce Secretary Howard Lutnick on Thursday confirmed that the Trump administration is standing firm on its position.

“We’ve made the decision. You can’t have Chinese control and have something on 100 million American phones,” he said.

The demand, which includes ceding control over TikTok’s core technology, data, and algorithm, comes months after President Donald Trump signed a law mandating ByteDance to divest the U.S. arm of TikTok or face a nationwide ban. Congress passed the bill in 2024 after years of mounting concern that the Chinese government could exploit the platform to collect data from American users or manipulate the information ecosystem.

Yet despite multiple public assurances from Trump that the deal would be closed “sooner than expected,” negotiations have dragged on. The President has extended the deadline three times since taking office in January. The current and possibly final deadline is September 17.

“Basically, Americans will have control. Americans will own the technology. Americans will control the algorithm. That’s something Donald Trump is willing to do,” Lutnick said on CNBC.

China Seen as the Final Obstacle

While finding the right buyer remains a major hurdle, observers say the deal’s real bottleneck is Beijing. Even if a U.S. entity is ready to acquire TikTok’s American operations, ByteDance would still need regulatory clearance from the Chinese government — a requirement that analysts believe may be difficult, if not impossible, to obtain.

Beijing previously opposed a forced divestiture when a similar situation unfolded under Trump’s first administration in 2020, calling the move “bullying” and “political oppression of Chinese companies.” The Chinese government also revised its export control rules to limit the transfer of certain technologies — including content recommendation algorithms — widely seen as a move to complicate any TikTok sale.

This makes the current standoff more than just a commercial negotiation. It’s part of a broader geopolitical conflict over data sovereignty, surveillance, and control of the next generation of global tech platforms.

Buyers Still in Flux as Time Runs Out

Earlier this month, Reuters reported that private equity giant Blackstone pulled out of a consortium that had been preparing a bid for TikTok’s U.S. assets, dealing a major blow to the prospect of a swift resolution. Though Trump recently told Fox News that he has a group of “very wealthy people” ready to buy the platform, there’s no confirmation yet of a finalized buyer or a definitive agreement.

Meanwhile, ByteDance has not made any public statement about the current state of negotiations or whether it’s seeking Chinese approval to move forward. As the deadline approaches, legal and commercial uncertainty looms over the future of one of the world’s most influential digital platforms.

If ByteDance fails to complete the divestiture in time — or if China blocks the sale — TikTok would be effectively banned from operating in the United States. That would mean the app, which has become a staple of American digital culture, particularly among Gen Z, would disappear from app stores and lose access to U.S. infrastructure, such as cloud hosting and payments systems.

Lutnick was blunt in outlining the government’s position: “If China doesn’t approve that deal, then TikTok is going to go dark.”

With the clock ticking toward September 17, all eyes are now on Beijing and the unresolved deal that could redefine not just TikTok’s future, but the contours of global tech governance.

Canal+ Seals $3bn Deal for Full Control of MultiChoice, Ending South African Ownership of DStv and GOtv

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In a landmark deal that will reshape Africa’s broadcasting landscape, French media group Canal+ has secured final approval to acquire full ownership of MultiChoice, the South African-based pay-TV giant behind DStv and GOtv.

The $3 billion all-cash deal—which gives Canal+ the remaining 55% stake it did not already own—received conditional approval from South Africa’s Competition Tribunal on Tuesday, marking the end of MultiChoice’s three-decade run as an independent African-owned broadcaster.

Canal+ is targeting October 8, 2025, to conclude the acquisition, pending final approvals from South Africa’s broadcasting regulator, ICASA, and the Johannesburg Stock Exchange.

Canal+ Merger: Regulatory Greenlight with Strings Attached

The South African Competition Tribunal granted Canal+ conditional approval to proceed with the acquisition, but only after imposing a series of stringent public interest conditions designed to protect South Africa’s media sovereignty and economic participation:

  • Content Investment: Canal+ must inject at least R26 billion (over $1.4 billion) over the next five years into South African content production, sports rights, skills development, and technological upgrades.
  • Job Protection: MultiChoice cannot initiate retrenchments for at least three years following the deal’s conclusion.
  • Ownership Requirements: Canal+ will spin off MultiChoice South Africa’s broadcasting license into a separate entity (dubbed “LicenceCo”), which must remain majority-owned by Historically Disadvantaged Persons (HDPs). This is to comply with South Africa’s Electronic Communications Act, which caps foreign ownership of licensed broadcasters at 20%.
  • Worker Ownership: Employees of the newly carved-out LicenceCo must also own a shareholding stake, ensuring local participation in the ownership structure.
  • Support for Local Enterprises: Canal+ will expand its procurement and partnerships with South African small and micro enterprises (SMMEs), HDP-owned companies, and local suppliers across the media value chain.

MultiChoice’s Struggle to Stay Afloat in Africa

Once a dominant force across sub-Saharan Africa, MultiChoice has in recent years battled falling revenues, shrinking subscriber bases, inflationary pressures, and a deluge of competition from global streaming platforms. In Nigeria—its largest market—the company has faced a particularly bruising period.

Early this month, Multichoice was fined N766.2 million by the Nigeria Data Protection Commission (NDPC) for violating the Nigeria Data Protection Act (NDP Act) in what is now the most significant enforcement action since the law came into force in 2023.

In May 2024, MultiChoice Nigeria suffered a major blow when the Competition and Consumer Protection Tribunal in Abuja ordered it to refund Nigerian subscribers and pay a N150 million fine for increasing subscription prices in defiance of a court order. The company’s appeal failed to block enforcement, escalating its legal woes in the country.

Even more damaging has been the hemorrhaging of its Nigerian subscriber base. Between 2023 and early 2024, MultiChoice lost over 1.3 million Nigerian customers, representing nearly 43% of its total base in the country, amid rising economic hardship and pushback against frequent price hikes. In its most recent financial year, MultiChoice reported over 9 billion rand in losses (approximately $500 million), underlining mounting challenges across Africa’s top markets.

What This Means for Canal+ and African Broadcasting

For Canal+, which already operates in 25 African countries with over 8 million subscribers, the acquisition opens a direct path to MultiChoice’s 14.5 million subscribers across 50 sub-Saharan nations. The merger combines Canal+’s French-language markets with MultiChoice’s dominance in English- and Portuguese-speaking regions, establishing a continental media powerhouse capable of challenging global streamers like Netflix, Amazon Prime, and Disney+.

Canal+ CEO Maxime Saada said the deal positions the group to become “a true champion for Africa” in pay-TV and streaming. MultiChoice CEO Calvo Mawela echoed the sentiment, noting that the acquisition would ensure continued investment in local content and technological innovation.

Despite its losses, MultiChoice still boasts a vast infrastructure spanning satellite, terrestrial (GOtv), and streaming platforms (Showmax). With Canal+’s global backing, the combined company is expected to:

  • Expand local-language programming.
  • Deepen mobile streaming capabilities across Africa’s fast-growing smartphone market.
  • Retain high-demand premium sports content like the English Premier League through SuperSport.

Canal+ originally began acquiring shares in MultiChoice in 2020. By April 2024, it had built its stake to over 45% and subsequently triggered a mandatory takeover offer. After months of negotiations and regulatory scrutiny, this week’s approval finalizes a transaction that has long loomed over Africa’s media sector.

The End of an Era

Founded in 1985, MultiChoice grew into Africa’s largest satellite television company under South African ownership. Its flagship brand, DStv, dominated premium entertainment across the continent for decades. The full takeover by Canal+ marks the end of its independence—and the beginning of a new chapter driven by global capital and expanding European-African synergy in media production.

Analysts believe the Canal+–MultiChoice merger sets a precedent for the scale and structure of future media ownership on the continent, especially as Africa’s media sector becomes increasingly globalized. Time will tell whether this translates into more affordable and diverse content for consumers, or simply consolidates power among fewer, richer hands.