Africa’s Web3 Leap: Outpacing Silicon Valley 🚀🌍

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Africa does not merely catch up in Web3; it strides forward, setting the pace. Such is the assertion of Gideon Greaves, Head of Investments at Lisk, shared with BeInCrypto during the ETHSafari 2025 in Nairobi.

Mr. Greaves holds that the continent’s blend of necessity-driven innovation, grassroots entrepreneurship, and a surge in venture capital interest is transforming it into the world’s most authentic crypto growth narrative. Indeed, it seems the spirit of the African entrepreneur is not just alive but thriving, much to the amusement of those who once doubted the continent’s technological prowess.

Forget Silicon Valley, Africa Is Web3’s True Testbed

One can hardly walk through Nairobi’s vibrant markets without noticing shopkeepers tapping away on smartphones to accept crypto payments. In Lagos, freelancers, with a keen eye for stability, prefer stablecoins over the naira to shield their earnings from the relentless grasp of inflation. Even in the quiet, sun-drenched fields of rural Ghana, farmers are connecting directly with buyers through blockchain-powered apps that run on the simplest of phones. It is a scene reminiscent of a Turgenev novel, where the characters, though simple, are deeply engaged in a complex, evolving world.

Lisk, a platform that has long positioned itself as a gateway to Web3, views Africa as central to its mission. As COO, Dominic Schwenter observes, “Africa exemplifies what occurs when Web3 skips the speculation phase and dives straight into solving real problems. While many regions were ensnared in DeFi yield farming and NFT trading, African innovators are constructing payment systems, enhancing supply chain transparency, and expanding financial access because these solutions are essential.”

Schwenter notes that the mobile-first culture and the entrepreneurial necessity in Africa create conditions where blockchain technology finds a genuine product-market fit. These proven use cases then serve as blueprints for adoption elsewhere. Meanwhile, while regulators in Washington and Brussels ponder the intricacies of defining digital assets, Africa is already living the Web3 experiment. For Gideon Greaves, this is no surprise.

“Africa boasts the highest entrepreneurship rate in the world-one in five adults runs their own business,” Greaves remarked in his interview with BeInCrypto, his tone tinged with a mix of pride and a touch of irony, as if to say, “Who would have thought?”

According to Greaves, African entrepreneurs cannot afford to chase fads; they build because they must solve problems. The data bears witness to this, with a recent Chainalysis report revealing that stablecoins accounted for 43% of crypto transaction volume in Sub-Saharan Africa in 2024. This dominance is no mere coincidence.

Against this backdrop, Greaves underscores the role of stablecoins as digital dollar accounts accessible to anyone with a mobile phone. In economies where inflation erodes savings and remittances strain household finances, stablecoins are not speculative instruments but lifelines. Small businesses preserve value, families reduce transfer fees, and freelancers demand payment in digital dollars. In Africa, crypto is not a future possibility; it is the present reality.

With Conviction, Nothing Beats a Problem-Led Builder

This sense of urgency shapes the landscape for startups. Unlike in Silicon Valley, where projects often launch tokens before seeking users, African Web3 companies invert the model. “They are problem-led, not token-led,” Greaves articulated, his words carrying the weight of a seasoned observer.

Michael Lawal, a partner at AyaHQ, one of the largest Web3 founders’ incubation programs in Africa, agrees, noting that conviction is a crucial ingredient for a founder’s success. Meanwhile, Web3 companies in Africa are equity-backed businesses with actual users. Tokens appear only when they serve a clear purpose.

Ikenna Oriza, founder and CEO of Jamit, embodies this philosophy. Despite being courted by multiple ecosystems, he chose Lisk for its hands-on support for African founders. “Every major blockchain pitched us, and we even tested a few, but we picked the chain that showed up. Lisk already has what the others have and the edge that matters most for us: intentional, hands-on support for African founders building for a global audience,” Oriza stated in an exclusive interview with BeInCrypto.

Oriza is known for pioneering the African digital music era, and his choice of Lisk reflects a commitment to practical, impactful solutions. The result is products that function in low-connectivity environments, facilitate cross-border trade, and unlock credit access for the underbanked.

Could Lisk’s VC Eyes Turn to Africa?

Greaves, with over a decade of experience as an entrepreneur, investor, and advisor in emerging technologies, has witnessed this shift firsthand. When he began investing in crypto in 2017, Africa barely registered with venture capital. That changed during the 2021 bull run, when global interest flickered. Now, he asserts, the momentum is undeniable.

“Investors are recognizing Africa is not just a future story but a present opportunity,” he explained, his voice tinged with a hint of triumph.

With mature markets saturated, the continent offers differentiation and the potential for outsized returns. “Capital follows function. The money comes if you’re solving a real, urgent problem,” Greaves pointed out, his words echoing the pragmatic wisdom of a seasoned investor.

Lisk COO Dominic Schwenter concurs, adding that the blockchain’s approach to emerging markets extends beyond technical support. While many ecosystems focus on onboarding developers and new users, Lisk is tailored specifically to founders dedicated to building real businesses using Web3. “We also go beyond simply providing protocol-level support for technical integration. With boots on the ground in each of our target markets, we work hand in hand with local partners to provide founders a wide spectrum of value,” Schwenter explained.

For instance, Lisk currently operates more than five local incubation programs globally, offering founders tailored mentorship, access to capital, and a supportive community. Incubator programs run with CV Labs, where most startups do not issue tokens, further underscore the utility-driven mindset.

Lisk Bets on Africa as a High-Growth Continent for Web3

Lisk is positioning itself at the forefront of this wave, providing real opportunities beyond its Layer-2 (L2) technology, mentorship, and in-house support. The company is also building the infrastructure for payments-first decentralized applications (dApps), stablecoin settlement, and on/off-ramp integrations.

Greaves highlighted the incubator programs run with CV Labs, where most startups eschew tokens. “This demonstrates how utility-driven the mindset truly is,” he noted, his tone reflecting a deep appreciation for the practical over the theoretical.

Looking ahead, Greaves envisions Africa playing a pivotal role in Web3, similar to India’s impact on IT services. He imagines a world where stablecoins are the default for trade and remittances, crypto seamlessly integrates into everyday apps, and small businesses access tokenized trade finance that accelerates cash cycles. Regulation, too, will evolve, with licensing frameworks and regulatory sandboxes enabling compliant growth.

Three to five years from now, Schwenter defines success in Africa as seamless adoption. He projects that founders and startups emerging from the Lisk ecosystem will be profitable, expand across multiple countries, and significantly enhance how people access financial services and participate in the global economy.

These remarks align with Gideon’s predictions, who foresees an equally significant growth trajectory for the continent. “Africa will be to Web3 what India became to IT services…And that will prove what this industry was always about-solving real-world problems, not chasing hype,” he concluded, his words a testament to the enduring spirit of African innovation.

Based on conversations with Lisk and insights from founders on the ground, Africa’s Web3 story is not one of catching up. It is a tale of necessity, ingenuity, and resilience. If Gideon Greaves is correct, it may well be the story that defines the future of blockchain itself. Stay tuned for more intriguing developments as the Safari continues.

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2025-09-09 10:25