DRC Builds First Stock Exchange with World Bank Support

The Democratic Republic of Congo (DRC) has partnered with the International Finance Corporation (IFC), part of the World Bank Group, to create its first stock exchange in Kinshasa.

This initiative aims to provide businesses and the government with an alternative funding source beyond traditional bank loans. While promising, success hinges on attracting enough companies that meet governance standards—a challenge other African exchanges have faced.

The DRC is also working on legislation to establish market regulators, depositories, and trading frameworks needed for a functional exchange.

WapiPay Secures Canadian License

Nairobi-based fintech WapiPay has received Money Services Business (MSB) licensure from Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC).

The license marks the company’s third regulated market entry in three months, following approvals in Jamaica and a remittance credit scoring tool launch in Kenya.

WapiPay initially focused on facilitating payments between Africa and Asia but has since expanded to offer foreign exchange, money transfers, and digital asset transactions across multiple corridors—particularly targeting the growing diaspora remittance flows into Africa.

Zimbabwe Loosens Crypto Restrictions

Zimbabwe’s central bank has reversed a 2018 directive that cut cryptocurrency businesses off from the banking system.

The move signals a shift in approach toward digital assets as Zimbabwe seeks to participate in emerging financial technologies while addressing concerns about capital flight and regulatory oversight.