I’ve lived in both Malawi and South Africa and strongly support this initiative. James/Alice and the team not only have the skillset and network to pull this off, but also the HEART to make it soar.
With the team and partners of the project, it’s incredibly well positioned to bring the continet to web3. Jambo from providing educational, community building and financial opportunities and AfricaDAO from helping local ventures get the lift they need. We’re happy to be part of the journey and help any way we can!
Emerson, portfolio analyst from LongHash Ventures here. We’re investors in both BitDAO and Jambo, and we’re supportive of this proposal! Starting a web3 venture fund/DAO in Africa unlocks not just one, but two trends:
Crypto adoption: As @jamboalice alluded to, Africa’s huge appetite for crypto (especially as an alternative to hyperinflationary currencies)
Entrepreneurship: 22% the working-age population in Africa are entrepreneurs - the highest in the world. Although a significant proportion isn’t in web3 (yet), it’s indicative of the risk appetite for starting companies/projects in the region.
Given Jambo’s deep understanding, network, and presence on-the-ground in Africa, they’re also one of the best teams in web3 to source and evaluate localised projects in the region.
Side note to @jamboalice: We’re also happy to jump on a call sometime to share our experience building the first web3 accelerator in Asia back in 2017!
Steven from Game7 here. Huge thumbs up to this proposal, really like what the team at Jambo is doing as they are making huge impact for the growth of Web3 in Africa. This is an emerging market with one of the highest adoption for both tech and Web3; gaming is definitely a huge piece of this puzzle! This is a great opportunity as there are 200m mobile-first gamers with 50% smart phone penetration in Africa! Very excited to work together and collaborate on future initiatives in disrupting gaming in Africa.
@jambojames Been a pleasure working with you thus far, excited for the what’s coming
We believe working with local talent and a deep understanding of the regional characteristics across Africa is very important to whomever AfricaDAO works with. As the third generation of my family in Africa and having grown up in Kinshasa, it’s obvious there isn’t a one size fits all for the region. There’s a wealth of diverse cultures and languages across Africa. Given the scale of AfricaDAO’s vision we believe it is key for us to be able to adapt and work with everyone.
Many of the proposers and advisors listed are quite invested in Africa or have been involved with some of the most successful unicorns across different regions. In our proposal we listed a network of African regional advisors from North, South, East and West Africa (whose bios listed on pages 13-21 of our proposal) who are influential entrepreneurs or investors in that locality who can help as advisors to other projects and also introduce good deal flow from that region.
Honestly we see the challenges you mentioned above as an opportunity for us to be at the forefront of Africa’s future. AfricaDAO’s vision is to work with the best talent with the right strategy in their respective region as different parts of Africa are very diverse.
See pages 10 to 11 in our proposal on more details of what we discussed here:
“AfricaDAO will utilize a three-pronged approach to accelerating Africa into a hub for web3 innovation.
The bulk of funds will be allocated to AfricaDAO’s venture investment strategy. This makes AfricaDAO incentive aligned with both the teams it partners with & the mission as a whole. AfricaDAO will target companies with these big five traits:
a. Lion: userbase or revenue with over 50% growth annually
b. Elephant: top 3 product in a niche or region
c. Leopard: team with over 3 years of experience building in emerging markets
d. Buffalo: sector with 10x+ potential growth in the next 3-5 years
The AfricaDAO & its partners will:
- Launch web2 teams into web3 with an African user base as the primary focus
- Connect teams with potential partners throughout the continent: hardware, software, marketing channels, etc.
- Create AfricaDAO Accelerators
- Provide Grants
- Entity formation
- Product strategy
- Go-to-market strategy, etc.
Additionally, the AfricaDAO and its partners will provide best-in-class crypto-native expertise to advise on:
- Token design & distribution
- Protocol design
- Launch strategy
- Community development plan
- DAO structuring, etc.
The AfricaDAO & its partners will provide the expertise needed to implement educational initiatives aimed specifically at developing web3 talent positioning Africans to start and/or join AfricaDAO portfolio companies. To that end, we will:
- Work with leading colleges across Africa to expose students to web3 technology, careers, and companies
- Fund web3 classes across Africa, especially programs that teach technical topics (like solidity/rust development)
- Host hackathons, meetups, conferences, and other web3-focused gatherings
- Establish job pipelines between major African technology companies, universities, web3 projects, etc.
- Develop a grant program to support students exploring careers in blockchain
AfricaDAO’s mission is to empower the next generation of entrepreneurs in the African continent. If other projects’ mission and vision align with AfricaDAO’s, we are more than happy to collaborate with these projects. We really do appreciate your interest in Africa and AfricaDAO’s plans
Clear Proposal overview and great explanation of background and benefits of BitDao in relation to the goals and objectives of the Africa DOA. I truly believe this three-pronged approach will accelerate Africa into a hub for web3 innovation. Innovation in Africa is there, the talent in the young population pool is present and the pathway to create real world benefits is clear. Education is key but the structures that need to be in place for hundreds of millions of Africans to launch, build, and participate in the future of web3 is critical.
Thank you for your support. Our vision is to spearhead the future ecosystem for web3 development by bringing the best investors and talent to empower regional talent in Africa, whether that’s going to be in P2E, DeFi primitives or improved crypto and blockchain frameworks and infrastructure.
There are numerous other factors driving the web3 adoption in Africa that we outlined in page 3 of our proposal. Africa has the fastest growing and youngest population on the planet with great smartphone penetration (~50%), 4G internet user-base growth (going from 150M in 2022 to 300M by 2025) and increasing crypto adoption due to hyperinflation, instability and high unemployment rates.
We are here to support this growth by bringing in the capital and international expertise needed to supercharge Africa for the next decade and beyond.
Thank you for your support @saheed!
Our goal at AfricaDAO is to unlock Africa’s potential! Our team is working hard to bring crypto and blockchain technology to the masses. Our vision is to empower people with the financial freedom and power they deserve.
Thank you for your support @moonrocksrodeo! I have been a serial entrepreneur and avid tech investor for over a decade now. @jamboJames has been involved with the crypto community since 2015 as a personal contributor and then running his own crypto fund since 2017. He was also invited to the Davos World Economic Forum as a blockchain forum panelist in 2020. Over time we at AfricaDAO have also curated a global alliance of top-notch supporting web3 founders, investors and influencers whose bios we outlined from pages 13 - 21 of our proposal. We also took great care to ensure that we have local teams positioned across Africa to ensure that AfricaDAO can create a meaningful impact in the trajectory of local web3 development across the continent!
AfricaDAO will become the hub for web3 innovation by connecting entrepreneurs in Africa with access to financial capital, global social capital, business-building acumen & best practices, and the educational resources needed to bootstrap successful web3 startups. The opportunity for the African continent is immense and AfricaDAO will help Africa leapfrog to a new height.
This is a great proposal. I love the idea of doing educational initiatives in Africa. The continent has talent but they don’t have the access to necessary resources. How are you making sure you can identify and help the best talent from the continent?
Thank you for your support and trust in us @coldPlunger! Completely agree with the points you brought up. Africa is a mysterious continent for most people, which is why Jambo’s team has researched and shared quite a bit with the community in “demystifying” the region with their Demystifying Africa series here (Jambo Technology – Medium). See pages 3-9 of the AfricaDAO proposal on how we aim to accelerate Africa’s hub of web3 innovation, bringing in the best investors and advisors to empower the local talent across Africa.
I have highlighted a few important milestones of crypto/web3 adoption in Africa in my previous reply to @originallionfish.
As you rightfully mentioned, our proposers and advisors listed on pages 13-21 are highly-respected web3 entrepreneurs and investors who have been building in their localities (North, South, East, West Africa) for many years. They are influential entrepreneurs or investors offering their time and resources out of passion for the industry, which we think is vital to accelerating the development of web3 in Africa. Look forward to seeing what we build together. Hakuna Matata!
Props to the team for the proposal, this is very well done. Saying Africa has great potential for web3 adoption would be an understatement. The statistics you see in Africa maybe is exactly what Jack Dorsey sees as he says it is the region the most ready and makes sense to be disrupted and first adopt crypto.
I see you have plans for play to earn games in your ecosystem, onboard students from universities and provide affordable solutions for web3 projects.
However, everyone knows that Africa is a continent relatively more isolated from mainstream social media platforms such as Facebook, Youtube, and Instagram. The marketing strategy used must be different from those used elsewhere. So i guess my main question would be how fast you see the rate of adoption of crypto moving forward in Africa compared to other regions of the world?
this feels extremely relevant regarding BitDAO’s development in the African continent. The fact that web3 would enable a whole continent to leapfrog many innovations is certainly a strong reason to consider this.
The team representing AfricaDAO is composed of some of the best names in the industry and it makes total sense to believe that this initiative has a high chance of success.
When considering macro factors around the world, we know that in order to foster innovation and ensure growth in this part of the world, an initiative like AfricaDAO is something to push forward!
The whole point of BitDAO being to accelerate web3 adoption and community growth, it feels like both projects would benefit immensely from this investment.
I’ve just returned from speaking at an event UEFA were hosting for women’s football. I met someone there who spent two years in Somalia setting up a pitch and providing opportunities for the girls and women interested in sport to be coached and provided with a future.
I would love to connect her with this because she’s looking for funding to grow this initiative and obviously traditional capital investment routes are more concerned with ROI rather than philanthropy or charity.
I’m @metanomic on TG if anyone wants to be connected to Savannah about this on a serious level and also help her understand DAO/ crypto funding in particular.
Love that this is focused on Africa, so if you wanted a clear example of how this could benefit communities then you’ve been given one.
Amazing initiative. Africa is by far the final frontier for crypto adoption, and the ingredients for demand are much higher here than elsewhere. It goes without saying, in western nations like the US, crypto is a nice to have. In the US, a fintech is essentially a bank’s cool little mobile app. But in emerging markets, and specifically countries across Africa, crypto and fintechs actually provide financial services to large sets of disparate populations that would otherwise not have them.
In addition, the media age across Africa is 19. The continent is very young. Technology typically takes over as the older generations pass. Most Africans today have grown/will continue to grow up in a world far more digital than that of their parents. Therefore, as the digital transformation into web 3 accelerates, it is well positioned to be a default for the majority of the population.
Thank you for your support @Yolo!
At AfricaDAO, our goal is to unlock Africa’s potential using a three-pronged approach we discussed in our proposal.
Thank you for your comments @0xEmerson! Completely agree with the two trends you highlighted. As a matter of fact, according to a Chainalysis report, Kenya, Nigeria, Togo, South Africa, Ghana and Tanzania were among the top 20 countries in the 2021 Global Web3 Adoption Index . Unlike adoption in developed markets such as North America or Europe, which was largely empowered by large institutional investment, the mass adoption of crypto in Africa happened spontaneously. People turn to cryptocurrency to preserve their savings amid harsh economic conditions. The South African Rand (ZAR) alone, for example, has lost over 50% of its value against the US dollar in the last decade. Nigeria, Egypt, Algeria, Ethiopia, and Ghana all face similar issues with their own currency. I strongly agree that entrepreneurial spirit is a huge tailwind for web3 growth in Africa. Africa has the highest rate of entrepreneurship in the world, and 38% of Africa’s entrepreneurs are between the ages of 25-34 . We are also witnessing a rapid increase in venture capital flows to Africa. At AfricaDAO, we are committed to bringing the best investors and talent to empower regional talent who are actually building the future of Africa! We definitely love to hear more about your experience building the first web3 accelerator in Asia! All content is here (Demystifying Africa #1. Why is Africa poised to be disrupted by… | by Jambo Technology | Jambo Technology | Medium)  The 2021 Global Crypto Adoption Index: Worldwide Adoption Jumps Over 880% With P2P Platforms Driving Cryptocurrency Usage in Emerging Markets - Chainalysis  Africa’s moment: How youth and natural resources can drive the continent’s global economic and social leadership now - G20 Insights
@SJC009, thank you Steven for your support from early on! It has been great working with you as well, I am a huge fan of what you guys are building in the gaming space. Completely agree with what you said. Africa is a continent with over 650 million mobile users, surpassing the number in the United States or Europe. The top three markets in Sub-Saharan Africa measured by smartphone connection are Nigeria, South Africa, and Kenya. It is projected that these three markets will have over 300 mil mobile users by 2025. On the other hand, 4G connectivity has been on the rise and will continue to grow strongly as infrastructure keeps improving. In 2022, Sub-Saharan Africa counted 150 million 4G users, but that number is projected to double and reach 300 million 4G connections over the next three years. Jambo outlined these and many other good points in their medium article (Demystifying Africa #1. Why is Africa poised to be disrupted by… | by Jambo Technology | Jambo Technology | Medium) We believe that rapidly increasing smartphone penetration, combined with rapidly improving internet infrastructure, makes Africa one of the most promising markets for mobile games. Looking forward to exploring and accelerating the space together!  https://www.un.org/africarenewal/magazine/may-2013/africa’s-mobile-youth-drive-change#:~:text=The%20World%20Bank%20and%20African,or%20electricity%2C%20the%20agencies%20add  Demystifying Africa #1. Why is Africa poised to be disrupted by… | by Jambo Technology | Jambo Technology | Medium
Hi, whilst this is usually the narrative due to the number of people with non-feature phones, in Sub-Saharan Africa, over 95 Million people are active on Facebook every month (https://www.facebook.com/business/news/insights/journeys-of-connectivity-how-people-in-sub-saharan-africa-come-online) and on a penetration and adoption level Kenya, Ghana, South Africa, & Nigeria were one of the top countries in terms of Crypto & Web3 adoption based on Chainanalysis. ( The 2021 Global Crypto Adoption Index: Worldwide Adoption Jumps Over 880% With P2P Platforms Driving Cryptocurrency Usage in Emerging Markets - Chainalysis so there’s already a significant pull and appetite for web3 and blockchain-based solutions the question is not really about the availability of users but the number of builders and level of quality that they’re products have in solving real-world problems for millions of consumers.