The Africa Blockchain Center (The ABC), a Kenyan startup focused on developing technology capacity and providing blockchain solutions to key sectors, has announced that it has received a 7-figure million investment from Next Chymia Consulting HK Limited, an Asian firm that provides blockchain solutions, consulting services, and training to global entities.
“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,” the Founder of The Africa Blockchain Center Irene Kiwia said.
This funding will assist The ABC in establishing structures in six African markets, including Kenya, Tanzania, Zambia, Nigeria, Uganda, and South Africa, as well as forming a network of blockchain players to share expertise and best practices.
Why The Investor Invested
The CEO of Next Chymia Consulting HK Limited Kenji Sasaki said:
“We are delighted to support and partner with The ABC, their model is groundbreaking on how they want to scale blockchain technology in Africa, and we have confidence in the team. We are aligned in vision as well as our commitment to building blockchain capacity and providing blockchain solutions to key industries. We want to champion good governance for blockchain and we see the appetite and gap in Africa where this cutting-edge technology can solve some of the inequality issues that will catapult the economic growth of the continent.”
A Look At What The ABC Does
The Africa Blockchain Center was established in September 2021 with the goal of propelling Africa into the adoption of 4IR (fourth industrial revolution) technologies by developing blockchain programming skills and catalyzing industry readiness, as well as providing solutions to businesses interested in exploring the technology and incubating blockchain startups.
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“The African continent has a massive untapped appetite to understand, learn and experiment with decentralized technologies. This, coupled with the opportunities that the market presents in applying blockchain technology in key sectors like finance, agriculture, health and general governance makes the center a timely intervention.” Further stated Kiwia.
The ABC intends to demystify blockchain technology and establish platforms where businesses may learn, conduct R&D, launch blockchain solutions, and use blockchain as a service for a variety of applications across industries and sectors.
The ABC is an Adanian Labs firm that aims to establish, nurture, and scale 300 impact-driven tech startups across Africa.
The CEO of Adanian Labs John Kamara said “We are extremely proud to see such progress with our startups. We pride ourselves in providing the right environment, tools and resources to support startups and help them build scalable solutions. The ABC is very timely as Africa is exploring the potential for smart technologies in support of its 4IR efforts. Adanian Labs will continue to work with the Africa Blockchain Center and support its roll out across the continent.”
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The ABC will employ a gender lens to ensure that women are included in this process.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer