Africa's Digital Economy Gets Major Boost as Kenya, Malawi and Morocco Unveil Key Reforms
Kenya is expanding regulation of its booming digital lending sector, licensing 25 new providers to ensure consumer protection and transparency. Simultaneously, Malawi is advancing data privacy with new draft regulations including annual fees for data controllers, while Morocco is cutting card payment fees to encourage digital transactions and financial inclusion. These efforts highlight a broader trend across Africa towards strengthening digital ecosystems and consumer trust.
African countries are accelerating efforts to strengthen their digital economies through major regulatory and financial reforms.
In Kenya, the Central Bank of Kenya (CBK) has licensed 25 additional Digital Credit Providers, bringing the total number of approved lenders to 252 as part of its ongoing crackdown on predatory lending practices and consumer rights violations.
The digital lending sector has experienced rapid growth, disbursing approximately 7.5 million loans worth KSh133.5 billion by February 2026, highlighting the increasing role of fintech in the country's mobile-first economy.
Meanwhile, Malawi is advancing its data protection agenda through stakeholder consultations on new regulations proposed by the Malawi Communications Regulatory Authority (MACRA). The draft framework introduces annual registration fees for major data controllers and processors based on organisational turnover and aims to strengthen accountability, cybersecurity, and public trust in digital services.
The reforms form part of Malawi's broader digital transformation strategy, which includes initiatives focused on artificial intelligence, digital identity systems, and digital skills development.
In North Africa, Morocco's central bank, Bank Al-Maghrib, has approved significant reductions in domestic card payment fees to encourage greater adoption of digital payments. Debit card interchange fees will fall from 0.65 per cent to 0.50 per cent, while credit card fees will be reduced from 0.95 per cent to 0.70 per cent later in 2026.
The move is expected to lower transaction costs for businesses, promote financial inclusion, and reduce reliance on cash payments. Collectively, these reforms underscore Africa's growing commitment to building secure, inclusive, and innovation-driven digital economies.