The past year has marked a turning point for blockchain across Africa.. The narrative is shifting from speculation to regulation and real-world application. Data and policies show a new maturity in the ecosystem. This scorecard reflects our analysis of the 2024/25 season. It highlights progress and pinpoints the challenges ahead.
Policy and Regulatory Clarity:
We saw an increase in government engagement and regulatory clarity. Nigeria’s Securities and Exchange Commission (SEC) licensed more crypto exchanges. This signals a formal acceptance of the industry. The DG of SEC Nigeria, Emomotimi Agama, will be a keynote speaker at our event. He will share his perspective on this trend.
Kenya’s policymakers also worked on a new crypto bill. This shows a move towards a regulated environment. In Rwanda, the government is building an AI hub and is actively piloting blockchain in land registry. Meanwhile, the Central Bank of Rwanda is working on its own CBDC which shows a commitment to technology.
Investment and Funding:
African blockchain startups are attracting significant funding. In 2024 alone, startups on the continent raised $34.7 million across 12 deals; a promising sign of growth.This shows that investors are looking for tangible solutions.
However, there are still challenges. A lack of regulatory clarity in some countries still hinders growth. The digital skills gap is another challenge.
Key Trends:
- Financial Inclusion: Blockchain solutions are targeting financial inclusion. They are providing low-cost financial services to the unbanked.
- Cross-Border Payments: Startups are creating efficient cross-border payment solutions. They are helping businesses and individuals in Africa.
- Supply Chain: Blockchain is being used to create transparent supply chains. This is particularly important for agriculture.
- Government Adoption: More governments are exploring blockchain for public services. They are using it for land registries and digital identity.
Get Started
ABF will be a platform to track this progress. We will celebrate our achievements and address remaining challenges. Our goal is to provide a comprehensive scorecard of Africa’s blockchain ecosystem. We will present this scorecard to policymakers & investors and also use it to guide future development.
Learn More & Register: africablockchainfestival.com