As a young founder building in Nigeria, I affirm most of what you said, especially in terms of relationships. If you don't have access to the decision maker, your file will stay in the waiting room. Also, market differentiation matters in Africa. Not just between two countries but within the country. Negotiating with officials from southern Nigeria can be easier compared to Northern Nigeria
Thank you Adedewe for making this research available. As someone planning to build something in stablecoin. This is a good read
Damn, this is exactly the reality check the ecosystem needed.
Been fully committed to building blockchain and crypto infrastructure for some time now, and honestly, every single paragraph here hit home. The part about "consultation papers vs actual licenses"—man, a lot of startups are learning that the hard way. Too many founders see a press release about a "framework" and think it's time to ship.
The whole "Africa isn't a market; it's 54 markets" thing is one that should be etched in the minds of anyone really serious about building in this continent. Every country has different rules, different relationships, and different politics. The "scale across Africa" narrative sounds great in pitch decks but falls apart when you actually try to navigate 54 different regulatory environments.
Thank you for writing this up in such detail. We need more honest field reports like this instead of the usual "crypto will save Africa" think pieces.
As a young founder building in Nigeria, I affirm most of what you said, especially in terms of relationships. If you don't have access to the decision maker, your file will stay in the waiting room. Also, market differentiation matters in Africa. Not just between two countries but within the country. Negotiating with officials from southern Nigeria can be easier compared to Northern Nigeria
Thank you Adedewe for making this research available. As someone planning to build something in stablecoin. This is a good read
Good work to you and your team
Damn, this is exactly the reality check the ecosystem needed.
Been fully committed to building blockchain and crypto infrastructure for some time now, and honestly, every single paragraph here hit home. The part about "consultation papers vs actual licenses"—man, a lot of startups are learning that the hard way. Too many founders see a press release about a "framework" and think it's time to ship.
The whole "Africa isn't a market; it's 54 markets" thing is one that should be etched in the minds of anyone really serious about building in this continent. Every country has different rules, different relationships, and different politics. The "scale across Africa" narrative sounds great in pitch decks but falls apart when you actually try to navigate 54 different regulatory environments.
Thank you for writing this up in such detail. We need more honest field reports like this instead of the usual "crypto will save Africa" think pieces.