Browsing: tech hubs across Africa

If crypto specialists believe that most of the African population is proficient in cryptography, they are gravely mistaken. The majority of people’s daily lives are currently unaffected by cryptography.

The adoption of cryptocurrency will result in its global recognition as a trustworthy medium of exchange. Cryptocurrency is a decentralised asset that may be used to communicate and store value securely. Africa is falling behind schedule due to the continent’s lack of bitcoin and blockchain expertise.

Gemini’s 2022 Global State of Cryptography research shows that a lack of education is the primary global barrier to cryptocurrency ownership. 40% of African respondents in the study had never purchased cryptocurrency because they were unfamiliar with the process.

According to Kucoin, 2.8% of all cryptocurrency transactions worldwide occur in Africa, indicating that we have a long way to go in terms of acceptability.…

• 2021 was a significant year for venture-backed companies worldwide, investing more than US$ 675B into startups globally, with more than US$5B allocated to African startups
• VCs have been keenly eyeing a spectrum of sectors from fintech, edtech, biotech, health tech, insurtech, mobility, logistics, e-commerce, crypto, connectivity, proptech, software and mobile commerce
• A report from Partech further reveals that more than 600 tech companies in Africa, raised US$5.2B from venture capitalists in 2021. 

Striking whilst the iron is hot, is the shrewd move that Venture Capitalists (VC) are making, to seize opportunities presented by the lucrative African Startup ecosystem that is burgeoning by the day; heralded by the massive technology wave sweeping across the continent, a prominent harbinger that the fourth industrial revolution is but within grasp.
Currently, Africa boasts of a myriad of VC-backed startups, with big investors like Jeff Bezos sinking tentacles into this frontier, that has seen the …