Introduction

It's 2023, and there has been a high surge in the implementation of blockchain technology globally. The level of interest keeps expanding day after day as many countries and different sectors are integrating this technology. Many projects have arisen, absorbing more people into the system. Africa is no longer just a spectator in the global tech arena; with the likes of Nigeria and South Africa, Africa is becoming a vibrant hub for innovation and a force to reckon with in the entrepreneurial world. Blockchain technology has not only found fertile ground in the diverse and dynamic landscapes of Africa, but many blockchain powerhouses are supporting and backing numerous projects built on the blockchain by Africans.

Here in this article, we will be talking about the top 5 Blockchain companies that are shaping the future of technology and finance in Africa. These companies are fostering innovation and entrepreneurship, and they are making waves in the blockchain space. Excited to learn more about this? Keep reading!

Top 5 Leading Blockchain Companies in Africa

(Image Source: Techcrunch)

1. Jambo

Raising a total of $30 million in its series A round, this gaming startup is the first on the list. Jambo is a web3-based user acquisition platform that allows users to learn, play and earn.

The Congo-based startup was founded in November 2021 to help millions of Africans achieve financial well-being while onboarding them into web3.

According to the founder, James Zhang, Jambo hopes to become the super app of Africa, similar to what WeChat has done in China.

Jambo is building the Web3 super app that not only entertains people but educates them by offering courses on crypto in multiple cities across Africa. This 'super app' aims to be the biggest way for people to join Web3 across the African continent and also build the bridge between Africa and global apps entering the African market.

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2. Sun Exchange

Sun Exchange is a South Africa-based blockchain firm redefining how individuals and organizations can access solar power. This blockchain-based platform allows users to buy solar cells, lease them to end consumers, and earn a profit in Bitcoin.

Raising a total of $10.8 million from its founding year to date, this platform enables individuals from across the globe to invest in South Africa's solar energy market. Additionally, by leveraging the transparency and security of blockchain technology, Sun Exchange is democratizing access to clean energy, positively impacting both the environment and the economy.

(Image Source: Opportunity Desk)

3. Baobab Network

Founded by Toby Hanington and Tom Fairburn, this company provides funding, support, and a platform for growth for early-stage blockchain projects across Africa in exchange for equity. As of 2023, Baobab Network has invested in 46 projects across Africa, ranging from $50,000 to $100,000. One of the most recent beneficiaries is Kawu, a fintech company in Uganda, which received a grant of $100,000.

This company is doing a great job of empowering African entrepreneurs, developers, and startups by providing the tools and resources they need to build blockchain solutions. They have a strong focus on practical applications, aiming to address real-world issues in various sectors, including finance, supply chain, healthcare, and agriculture.

(Image Source: Wiicreate.com)

4. Nestcoin

Founded in November 2021, Nestcoin, unlike other projects, is starting as a parent company and will help build, support, and invest in projects that introduce crypto and blockchain to the grassroots. According to research, one of Nestcoin's plans to implement this is engaging writers to explain complex crypto topics and projects to its users.

Raising a substantial sum of $6.5 million in pre-seed, this Nigeria startup aims to educate its users with the expectation that this education will motivate clients to use its platform to earn money through blockchain-based gaming and digital art investments.

According to Yele Badamosi, the CEO of Nestcoin, users will also have the ability to trade high-value cryptocurrencies like Bitcoin and Ethereum. However, the main goal is to make cryptocurrency easy to understand for everyone

(Image Source : Bitmama)

5. Bitmama

Bitmama is a Nigerian highly secured crypto payment platform built on blockchain. Where users can buy and sell cryptocurrencies at the best rate. Founded in 2016 by Ruth Iselema, Bitmama started as a WhatsApp group where members learned about crypto, particularly bitcoin, and made transactions. It quickly grew into a platform where individuals can trade and manage cryptocurrencies, and digital assets conveniently. Recently, the company launched Changera, a social payment solution enabling customers to utilize stablecoins for streamlining international payments and transactions on Netflix and Amazon through virtual cards.

Despite the inconsistency in government policy on crypto in Nigeria, Bitmama was able to raise a whopping sum of $2 million in pre-seed funding as of 2022.

Bitmama might not be the highest scorer when it comes to pre-seed generation, but they are the best to look out for in terms of innovation and game-changing services.

Conclusion

As Africa continues to embrace blockchain technology even to its grassroots, it is clear that these companies, along with many others, will play an essential role in shaping the future of the continent. The applications of blockchain are wide-ranging, and African blockchain companies are harnessing this technology to solve local and global challenges, making a significant impact on both regional and global scales. With the dynamic nature of blockchain, the future looks promising for Africa's blockchain pioneers.