Sub-Saharan Africa Confirms Cryptocurrencies as a Solution to Economic Challenges
Sub-Saharan Africa has confirmed that cryptocurrencies are not just speculative tools, but also concrete solutions to address economic challenges: protection against inflation, facilitation of cross-border trade, and financial inclusion. Between July 2024 and June 2025, transactions in the region reached $205 billion, a 52% increase compared to the previous year, according to Chainalysis. The region ranks third in the world, behind Asia-Pacific and Latin America, although these transactions represent only 2% of the global volume.
National Scale
At the national level, one African country dominates with over $92.1 billion in transactions, nearly three times more than South Africa, which ranks second. Ethiopia, Kenya, and Ghana complete the top 5. The combination of a large population, a connected youth, and persistent inflation explains this massive adoption of cryptocurrencies, particularly bitcoin and stablecoins. In March 2025, the country even recorded a peak in transactions after the devaluation of its local currency, illustrating the growing interest of its inhabitants in digital currencies as a refuge against inflation.
Tunisia's Position
And what about Tunisia? With an emerging cryptocurrency market, the country is far from these record volumes. Tunisians are mainly interested in cryptocurrencies for personal transactions or small-scale investments, and institutional use remains limited, despite a connected youth and a developing fintech culture. Tunisian transactions remain marginal compared to Nigeria or South Africa, but the country could benefit from the regional trend if a clear and favorable regulatory framework for crypto-assets is put in place.
Usage Profile in Sub-Saharan Africa
The usage profile in Sub-Saharan Africa shows that the market is both retail and professional. Transactions under $10,000 represent over 8% of the total value, indicating that cryptocurrencies meet a need for financial inclusion in a region where a significant portion of the population remains unbanked. Large companies and institutions, particularly in Nigeria and South Africa, also use stablecoins for cross-border transactions, with the Middle East and Asia.
Bitcoin Dominance
Bitcoin largely dominates these exchanges, representing 89% of purchases in the leading country and 74% in South Africa, serving both as a store of value and a gateway to the cryptocurrency market. Tunisia, with its regulatory limitations and more restricted market, is observing these trends rather than driving them.
Conclusion
In summary, while Nigeria and South Africa demonstrate the potential of cryptocurrencies to address economic challenges, Tunisia is still in the observation phase. However, the country could accelerate its adoption and institutionalization of cryptocurrencies by drawing inspiration from regional successes to develop solutions adapted to its economy and citizens.
