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Can Africa harness Blockchain to grow into a super-economy?

Tuesday, September 29, 2020   (0 Comments)
Posted by: Anna Gomez
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Can Africa harness blockchain to grow into a super-economy?
Africa’s economic future is at the heart of this year’s Fintech Africa, which forms a key component of AfricaTech 2020, part of the virtual Africa Tech Festival

London, 29 September 2020 – Fintech and Blockchain technology have the potential to lift the lid on many of Africa’s challenges and opportunities, from health, agriculture and education, to travel and tourism. Perhaps one of the most exciting keys they hold, is the potential to lift the cloak of corruption off Africa through the transparency that exists particularly within blockchain systems.

While blockchain is far from a pipe dream, there is a great deal of “plumbing” required across the continent in order to set the chains rolling. Strong industry regulations across the continent are essential for creating a smooth-running and reliable platform that will encourage investors to help fuel digital growth that could dramatically transform economies across Africa.

Blockchain is also set to be one of the big talking points happening at Blockchain Africa, a conference stream under the AfricaTech umbrella and part of the virtual Africa Tech Festival. As in previous years, AfricaTech, an extension of the long-established and well-subscribed AfricaCom event, will host a series of conversations around the key pillars underpinning the potential for the technology explosion that can lift African into being a key player in the global economy.

Exploring the engine room accelerating Africans to embrace digital inclusion, Fintech Africa will look at the next innovations in fintech, discuss some of the barriers still preventing growth across the continent, along with the opportunities that fintech creates too and an exciting pitch and win session for selected start-ups who will come face-to-face (albeit virtually) with some of the most savvy investors, venture capitalists and seasoned African fintech pioneers.

Regardless of inherent skills in Africa – and the potential for training the next generation of digital leaders – fintech has the potential to revolutionise industry as well as the social lives of Africa’s billion-plus population. While massive digital skills programs will become the norm, the potential to leapfrog technologies and to harness G and fibre, places Africa in prime position to keep pushing its rapid economic growth… as long as there is investor confidence in the continent.

 

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