Mauritius Governor Warns Stablecoins Add Risks to African Payments

Africa’s economic integration remains constrained by expensive, fragmented cross-border payments, while stablecoins pose risks to monetary sovereignty and financial stability, Mauritius central bank Governor Priscilla Muthoora Thakoor said. Sub-Saharan Africa had about 835 million registered mobile-money accounts in 2024, reflecting widespread use of digital finance. Transfers between African countries can still pass through correspondent-bank networks outside the continent, increasing costs, delays and operational risk. Sending $200 to Sub-Saharan Africa cost an average of 8.37% during the second quarter of 2024. That compared with a worldwide average cost of 6.65%.

Source: TokenPost