Regional tokenisation track · Africa

    Above Khokha, eNaira, and the AfCFTA settlement layer.

    The African tokenisation track covers SARB Project Khokha 2, the CBN eNaira and tokenised T-bill work, Kenya CMA's regulatory sandbox, and cross-border AfCFTA settlement. The substrate ships Q1 2027; the perimeter is stated now and briefing requests are open.

    In development
    Q1 2027
    Regulator map
    SARB — South African Reserve Bank

    Project Khokha 2 wholesale tokenisation, IFWG crypto-asset regime, and resolution-planning oversight.

    CBN — Central Bank of Nigeria

    eNaira CBDC and tokenised T-bill pilots; OFI prudential supervision.

    CMA — Kenya Capital Markets Authority

    Regulatory sandbox for tokenised securities and digital-asset offerings.

    AfCFTA / PAPSS

    Pan-African Payment and Settlement System acting as the cross-border settlement primitive for tokenised institutional flows.

    Cohort treatment in Africa
    Cohort A · Tokenised securities (Africa)

    JSE and NSE tokenisation pilots, CBN tokenised T-bills, Kenya CMA sandbox offerings.

    Cohort B · Tokenised deposits (Africa)

    Bank-issued deposit instruments on SARB Khokha 2 wholesale rails and AfCFTA cross-border settlement.

    Build deltas against the generic global substrate
    Δ1
    Multi-currency settlement reconciliation

    Reconciliation across ZAR, NGN, KES, EGP, and PAPSS cross-border flows with sovereign-residency constraints respected.

    Δ2
    Sandbox-cohort control library

    Versioned controls tracking Kenyan CMA and IFWG sandbox outcomes as frameworks formalise.

    Δ3
    AfCFTA institutional flow envelope

    Cross-border originator/beneficiary envelope mapped to FATF R.16 with African Union data-protection overlays.

    What is withheld from this brief

    ORS weights, the effectiveness-grade rubric, Trust Gate definitions, the dependency-graph internals, and the institutional control library specifics for Africa. The category map is public; the full operating disclosure is released only under signed terms.

    Cabier sits above the rail. The rail settles; the institution governs.