DUBAI SEPTEMBER 1 2022 / EMURGO Africa – EMURGO Africa, an Africa and Middle East-focused venture arm of EMURGO, a founding entity of the Cardano blockchain, today announced the signing of a Memorandum of Understanding (MoU) with Kepple Africa Ventures, Inc. (“Kepple Africa Ventures”). The MoU establishes a strategic partnership to jointly spearhead Web3 investment opportunities in Africa. The investments will support talented Web3 entrepreneurs developing blockchain solutions and help to provide Web3 blockchain-related jobs in the region.
Kepple Africa Ventures is a venture capital firm dedicated to fostering the development of new technological industries on the African continent. Since its inception in 2018, Kepple Africa Ventures has invested in more than 100 startup companies in 11 different countries and its portfolio startups have gone on to build new solutions and services in diverse sectors across Africa.
EMURGO Africa and Kepple Africa Ventures will partner to invest and utilize Cardano’s blockchain technology as an environmentally-sustainable solutions platform to solve some of the economic problems in the region stemming from an inefficient public sector and economic infrastructure, opaque legal systems and corporate governance structures, and currency depreciation.
New, decentralized solutions and services based on the Cardano blockchain can rapidly solve these issues by replacing the inefficient and centralized structure with an open-source and research-proven technological platform that offers better accountability, scalability, and sustainability. Web3 and blockchain entrepreneurs and developers can quickly and flexibly build open-source solutions and services on top of Cardano that the market demands. These Web3 solutions and services can also utilize cryptocurrency as a potential option to quickly transfer value and provide user incentives.
According to blockchain data platform Chainalysis, Africa’s cryptocurrency and Web3 market has “some of the highest grassroots adoptions in the world” and is “the third-fastest growing cryptocurrency economy.” Especially for cross-border and P2P transactions, Africans have embraced Web3 and blockchain as a practical use case. In terms of the global blockchain industry, Africa is expected to possess a 30% market share by 2028, growing from a $1.1 billion market in 2020 to $134.9 billion.
About EMURGO Africa
EMURGO Africa invests and partners with Africa-focused enterprises, startups, and accelerators to foster the development of socially impactful solutions on Cardano’s third-generation and environmentally-sustainable blockchain. To connect and learn more, visit https://emurgo.io.
About Kepple Africa Ventures, Inc.
Established in October 2018, Kepple Africa Ventures is a venture capital firm with roots in Kenya and Nigeria, investing in startups with the mission of “creating new industries from Africa.” Currently, Kepple Africa Ventures has completed investments in 103 companies in 11 countries, supporting the growth of local startups and creating a framework for collaboration with Japanese companies in Africa, where innovation is creating new industries one after another. Through these activities, we aim to expand the functions of the platform for creating new industries and developing them globally. For more information, please visit https://kepple-africa-ventures.com/
