NAIROBI, Kenya, June 21 – The government has unveiled a plan that will see the country boost economic growth through the use of cryptocurrency and blockchain.
ICT-Security and Audit Control Secretary Emmanuel Kata Kimeu said that the state is keen on leveraging blockchain to unlock new opportunities for economic development, improve governance, and enhance the overall well-being of its citizens.
“We are looking at putting digital hubs up to the world level of 1450 digital hubs for the country and putting 25,000 Wi-Fi spots across the country in different markets and public places so that people can have access to the internet first,” Kimeu said during the second edition of the Kenya Blockchain and Cryptocurrency 2024.
On his part, Felix Macharia, the CEO of Kotani Pay, a blockchain company in Kenya, called on the government and policymakers to support the blockchain industry, welcoming the move to adopt crypto and blockchains.
“In terms of the innovation space in Kenya, there are enough innovators, software developers, as well as venture capitalists that are looking to fund local startups that are engaged in this space, and Kenya is looked at now as the gateway to East Africa, and no one will even argue Africa when it comes to matters of innovation,” he said.
Kenya has exhibited a rising interest in blockchain technology and cryptocurrencies, with projects targeted at investigating potential uses.
From blockchain-based property registries to cryptocurrency remittance solutions, Kenyan entrepreneurs and organisations are looking for new ways to use these technologies to address societal concerns and propel economic development.
In 2023, the sector raised sh 3.5 billion in funding globally, with Kenya accounting for 5.4 percent of the continent’s share.
