Saturday, May 21, 2022
International Finance
Featured Technology

The Africa Blockchain Centre raises funds to boost blockchain adoption in Africa

Africa Blockchain centre-IFM-image
It will focus on six African markets which are 6 Africa markets of Tanzania, Kenya, Nigeria, Zambia, Uganda, and South Africa

The Africa Blockchain Centre, launched under pan-African venture building studio Adanian Labs, recently raised an undisclosed amount to boost blockchain adoption in six African nations, media reports said. The markets are Tanzania, Kenya, Nigeria, Zambia, Uganda, and South Africa.

The funding will help the Kenyan startup build a community of blockchain stakeholders for knowledge sharing and best practice guidelines.

Irene Kiwia, founder of the African Blockchain Centre, told the media, “We understand the potential that blockchain has in solving some of the challenges that are facing Africa and we believe that we can use our disruptive nature as a continent to create value for ourselves through the adoption of the technology.

“However, there is a massive capacity gap that we must fill to accelerate this. We aim to train 10,000 blockchain programmers, 5000 business leaders and executives on blockchain readiness, incubate 50 blockchain startups and launch robust solutions for the market in the next 2 years.”

Earlier this month, African blockchain startup Bitmama raised $350,000 in a pre-seed funding round. According to Bitmama, the funds raised will help the startup grow its operational presence and at the same time, expand its team as well as penetrate new markets in Africa.

The funding round for Bitmama was led by Flori Ventures, with participation from Emergence Capital, Fedha Capital, and a host of VCs and angel investors.

Ruth Iselema, chief executive at Bitmama told the media, “The rate of crypto adoption in Africa has been surprisingly fast but anticipated. All over Africa, more than 3 million users now perform crypto transactions on the day-to-day.”

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.