By Shogo Ishida and Yosuke Yoshida, Co-CEOs, EMURGO Africa
Africa, the continent with the world's youngest and fastest growing population, is brimming with potential. This dynamism extends to the burgeoning world of blockchain technology, where a new generation of women are emerging as leaders and innovators.
While the global tech industry has a well-documented male domination, Africa is witnessing a surge of women actively shaping the future of blockchain. From entrepreneurs building groundbreaking startups to educators fostering financial literacy through crypto, these women are shattering stereotypes and carving their own paths in this field.
From Lagos to Nairobi, Cape Town to Accra, and Dar es Salaam to Dakar, women are taking charge, leveraging blockchain to drive change, foster economic growth, and promote social inclusion.
Key Takeaways:
- Women are rising from all corners of the continent to establish blockchain projects.
- Kenyan women are leading Africa in Web3 involvement.
- Women-led blockchain startups are helping Africa tackle pressing socio-economic challenges.
- There’s still big room for women participation in the Web3 landscape in Africa.
African Women Are Shattering the Glass Ceiling in Blockchain
Africa presents fertile ground for blockchain. Millions remain unbanked, hindering financial inclusion and economic participation. Fragmented supply chains create inefficiencies and limit transparency. Outdated infrastructure restricts access to critical services. Blockchain, with its core principles of transparency, immutability, and security, offers a potential solution to these long-standing challenges.
Despite the promise, the tech industry, and particularly the blockchain space, has historically been dominated by men. However, African women are breaking through barriers in remarkable ways. These women are not only leading projects but also founding startups, influencing policy, and educating the next generation of blockchain enthusiasts. The African blockchain industry has seen an increase in women becoming business leaders, investors, traders, analysts, developers, journalists, and even heads of companies.
Despite gender-related obstacles, a shortage of legislative frameworks and a general need for understanding blockchain technology, African women have been crucial in spreading the word about the benefits of blockchain and cryptocurrencies throughout the continent.
The proliferation of online learning platforms has made blockchain education more accessible than ever. Women can now participate in courses, webinars, and certification programs from anywhere on the continent. This flexibility allows women to balance education with other responsibilities, making it easier for them to enter the blockchain field.
The establishment of women-centric blockchain organizations, provides a supportive community for women in the industry. These organizations offer networking opportunities, mentorship, and advocacy, helping women to connect, collaborate, and grow their careers.
Participation in global and local blockchain conferences and events is increasing, offering women a platform to showcase their work, learn from industry leaders, and engage in meaningful discussions. These events are crucial for visibility and professional growth, as they help women build their reputations and expand their influence.
The inclusion of women introduces fresh perspectives and innovative approaches, enhancing the industry's ability to solve problems and nurturing a culture of creativity and collaboration. Additionally, embracing diversity broadens the talent pool within the blockchain sector, tapping into a wider range of expertise and experiences.
Empowering women in blockchain has significant implications for societal progress beyond the professional sphere. By addressing gender disparities in tech, the industry moves toward greater gender equality and inclusivity. Fostering a diverse environment not only maximizes the potential of its workforce but also aligns with the varied needs of its user base.
Key Data
- Kenya has the highest share of female crypto owners in Africa at 42%, and third in the world, according to a 2023 report by Forex Suggest. Kenya is followed by South Africa (7.6%) and Nigeria (4.25%).
- As of 2023, data showed that women hold some 26% of all jobs in the global crypto industry, while only about 6% of the top leadership roles are held by women. However, this is an increase from 2018, where women only held 14.5% of blockchain positions.
- A study by Grayscale shows that 43% of individuals interested in Bitcoin investments are women. This shows a growing interest among women in the crypto and blockchain sphere.
- Insights from Coincover’s latest survey, “Securing the Future of Cryptocurrencies,” found women have greater confidence in the future of cryptocurrencies compared to men, with 34.6% expressing some level of confidence, as opposed to only 17.7% of men.
- The percentage of women who own crypto has risen significantly, from 18% at the beginning of 2023 to 29% at the beginning of 2024. In 2018, only less than 10% of women invested in cryptocurrency.
- A 2023 KuCoin survey shows that women prefer long-term crypto investments - 52% of women compared to 38% of men. It also shows 40% of female crypto investors think that recruiting more women to work in the crypto industry can help the industry become more women-friendly. Only 30% of men think in the same way.
The Most Notable Female Blockchain Voices in Africa
Here are the 25 influential women in Africa’s Web3 space:
As the co-founder and CEO of Bitmama, the first woman-led crypto exchange in Nigeria with footprints across Africa, Europe, and the US, Ruth has been instrumental in promoting blockchain adoption and innovation in the country. One aspect of Ruth Iselema's work involves raising awareness about blockchain technology and its potential applications across various sectors in Nigeria. Ruth is also actively involved in developing blockchain-based solutions tailored to the needs of the Nigerian market. These solutions range from financial services to supply chain management, healthcare, and beyond. By collaborating with local stakeholders and leveraging her expertise in blockchain technology, she is contributing to the creation of more efficient, transparent, and secure systems within Nigeria.
2. Olayinka Odeniran - Nigeria
Olayinka co-founded the Black Women Blockchain Council, dedicated to increasing the representation of young girls and black women in blockchain and fintech. As a renowned speaker, Olayinka has presented at various blockchain conferences, further solidifying her influence and expertise in the field. With more than 15 years of expertise in compliance, Olayinka has been instrumental in guiding financial institutions through international regulations. Armed with an M.S. in Cybersecurity Management and Policy, she offers invaluable information assurance to both financial entities and the blockchain sector. Presently, she seamlessly merges her enthusiasm for blockchain, cybersecurity, and compliance to offer consultancy services tailored to the needs of financial institutions.
Sarah is a multifaceted figure in the African Web3 space, with expertise spanning community building, token economics, Web3 education, and decentralized finance research. Passionate about blockchain technology, she dedicates significant time to expanding her knowledge in this field. As the founder of the #WomenInDeFi Community, Sarah leads a group of strong female leaders from various sectors of the Web3 space. Together, they mentor and empower women to discover their potential in Web3, offering job mentorship and analysis to kickstart their careers. Sarah is also a skilled public speaker, known for her ability to simplify complex topics for audiences of all levels. She has spoken at numerous physical and virtual events, including Nigeria Fintech Week and Africa Money and DeFi Summit in Accra.
4. Deborah Ojengbede - Nigeria
Deborah, the CEO of AFEN Blockchain Group, is a pioneering force in Africa's blockchain technology landscape. Drawing on her extensive experience in banking, she leads the way in leveraging blockchain's transformative potential to create decentralized and transparent systems. Her enthusiasm for cryptocurrency sparked a deep interest in blockchain, driving her to explore its wide-ranging applications. Under her leadership, AFEN has thrived, becoming a prominent Web3 enterprise. The company has established a platform for African creatives and launched BloomOne Academy, a leading institution for Web3 education.
Oluchi is one of Nigeria's first female blockchain engineers. After delving deep into blockchain learning, she actively participated in numerous hackathons, one of which took her all the way to Manhattan, USA. She would later secure a role as a blockchain engineer at Sterling Bank, marking the beginning of her upward trajectory. Since then, she has collaborated with industry giants like Binance, Crypto.com, Bundle, and spearheaded the launch of Nestcoin, a Web3 platform. She's the co-founder of Crevatal, a Web3 design agency, and Web3 Ladies, a community she created to bring more women into the space.
6. Ojuedeire Doris - Nigeria
Doris, a professional accountant and fervent blockchain evangelist, is the founder of Blockchain Ladies Africa (BAL), a dynamic group uniting 3,000 African women and championing blockchain education. As a serial entrepreneur and business advisor, she brings a unique blend of expertise in entrepreneurship, business development, and strategic marketing. Passionate about empowering women in Africa, Doris views blockchain as a pathway to freedom for African women, driving her dedication to this transformative technology.
7. Elizabeth Rossiello - Kenya
Elizabeth is the visionary behind AZA Finance, serving as its CEO and founder. Established in 2013 as a crypto entity under the name BitPesa, AZA Finance has evolved into a comprehensive provider of FX and payments services. It now offers a complete suite of solutions across major African and G20 currencies, driven by its proprietary fintech platforms. Elizabeth is dedicated to broadening access to financial technologies. She previously served as co-chair of the World Economic Forum's Council on Blockchain and is a member of the Global Advisory Board for the Centre for the Fourth Industrial Revolution. Elizabeth's expertise has led her to serve as a guest lecturer and keynote speaker on digital assets and fintech for prestigious institutions such as UC Berkeley’s Executive Education Program, Oxford University’s Fintech Programme, and MIT’s Sloan School of Management.
Roselyn was the Chairperson of the Blockchain Association of Kenya in 2019 and 2020, and has led the Kenyan Women in Blockchain Chapter since 2017. She is a co-founder and director of Azuri Blockchain Consultants Ltd, an Africa based advisory company that works with companies in Web3 technologies. She is passionate about the innovations emerging from disruptive technologies like blockchain and has dedicated herself to empowering tech start-ups in East Africa. A certified member of the Kenya Institute of Directors, Roselyn is committed to the professional practice of corporate directorship in Kenya. She has an extensive background, having worked for eight years as a UN Women program officer before spending a decade as a Safaricom business dealer, where she established and operated several retail and money transfer outlets.
Roselyne, one of the pioneer women in Web3 in Kenya, is a renowned blockchain educator, Web3 strategy consultant and crypto media commentator based in Nairobi. She is the author of Blockchain for You: Talking about Tech Should be as Easy as About Food and currently works as an on-chain blockchain analyst and researcher for various Web3 companies. She has been involved in the blockchain education cause for Kenya, and worked in senior blockchain roles at Utafiti, Pesabase, Kesholabs, EOS and Nile Capital. She was the only female on the EOS Nairobi core team. EOS Nairobi is a Block Producer on the EOS Main net serving the community from Africa.
10. Beatrice Wambugu - Kenya
Beatrice Wambugu's role in promoting blockchain adoption in Kenya is significant, as she was the first Kenyan to introduce an innovative use case for cryptocurrencies in the country. By owning a restaurant in rural Kenya that accepts bitcoin and other cryptos as a form of payment, she is actively contributing to mainstream adoption of blockchain technology in Kenya. Her restaurant serves as a real-world example of how cryptocurrencies can be used for everyday transactions, showcasing the potential for blockchain-based payments to revolutionize traditional payment systems.Beatrice's restaurant serves as a hub for cryptocurrency enthusiasts and blockchain advocates in Kenya, fostering a community around digital currencies and promoting dialogue about their use cases and potential impact on the economy.
Kate is the Founder & CEO of Amini, a leading AI startup building the Global South’s data infrastructure. With over a decade of experience leading AI innovation at global tech companies such as NVIDIA, Intel, and Arm, she is a recognized expert regularly advising international organizations and governments. She was named TIME100 Most Influential People in AI. Kate's efforts have been mainly focused on bridging the digital divide, including significant collaborations with the UN. She regularly advises IGOs on the power of tech to drive social impact. Kate aims to impact a billion lives in the Global South through a collaborative approach with both the local and global ecosystem.
Melanie is the co-founder and CEO at Melanin Kapital, a blockchain company that helps African small-and medium-sized enterprises improve their risk profile to access low-interest and collateral-free capital. She was named the 2023 Rising Star by Swiss bank UBS and was in the 2021 Forbes list of 30 Under 30. Melanie pioneered the tokenization of carbon credits in Kenya, making Melanin Kapital Kenya’s first blockchain-backed neobank. The tokenization of carbon credits has revolutionized the way carbon credits are bought, sold, and traded in Kenya, making it easier for businesses and individuals to participate in efforts to combat climate change.
13. Sonya Kuhnel - South Africa
Sonya was one of the pioneering women in South Africa's blockchain industry. In 2013, she launched Bitcoin Payments, a BitPay Affiliate partner that enabled online merchants in South Africa to accept bitcoin for goods and services. In 2014, she co-founded Bitcoin Events, which hosts the country's premier cryptocurrency and blockchain events, including the Blockchain Africa Conferences and Crypto Fest. Recognizing the need for education in this field, Sonya established the Bitcoin Academy in 2015, later renamed the Blockchain Academy. She is also the co-founder and COO of Xago, a Cape Town-based company providing an XRP cryptocurrency exchange, gateway, and payment platform for retailers, facilitating fast and cost-effective payments using the Ripple blockchain.
14. Prof. Monica Singer - South Africa
As a seasoned executive, Monica has boldly championed change in the financial sector. In 2017, she was appointed as South Africa Lead for ConsenSys, an international venture production studio leveraging blockchain technology to develop distributed applications on the Ethereum platform. Monica has also served in numerous board and advisory roles, including as a board member of the South African Institute of Chartered Accountants and the Accounting Blockchain Coalition, which establishes audit, accounting, and tax guidelines for crypto assets. She’s currently a blockchain advisor at CV Labs.
15. Devon Krantz - South Africa
Devon is a prominent figure in the blockchain sector in South Africa, known for her significant contributions to the industry. She’s the CEO of Web3 Sanctuary, an edtech and Web3 education platform that trains the next generation of Solidity developers for blockchain companies. She also serves as the co-founder and CEO of Linum Labs, a blockchain development house and consultancy. Under her leadership, Linum Labs has been instrumental in driving blockchain innovation and adoption in South Africa and beyond. Krantz's work involves developing and implementing blockchain solutions across various industries, including finance, healthcare, and supply chain management. She focuses on leveraging blockchain technology to create more efficient, transparent, and secure systems.
16. Naomi Snyman - South Africa
Naomi, a seasoned corporate executive, serves as the Blockchain Lead for the Standard Bank Group, overseeing blockchain initiatives across 16 African countries in both Commercial and Retail Banking. She is also the Chair of the South African Financial Blockchain Consortium. Naomi believes blockchain has the potential to drive economic freedom in Africa by decentralizing trust and central power. She is passionate about uncovering and developing strategic business ideas throughout Africa, creating value by solving key customer problems and transforming them into commercially viable opportunities through emerging disruptive technologies.
Sandra, commonly referred to as “Mama Blockchain'' in Tanzania, is a renowned blockchain educator and influencer based in Dar es Salaam. She has authored Tanzania’s first book on blockchain under the title ‘Jielimishe Kuhusu Blockchain’, Swahili for ‘Teach Yourself Blockchain’. Sandra has given blockchain and Web3 talks on various forums, helping her nation embrace the technology. She has advocated for crypto regulation in Tanzania, and the laying out of a blockchain framework to enable the deployment of the technology to solve the country’s challenges.
18. Regina Mbodj - Senegal
Regina is an early advocate of blockchain technology, and holds a prominent position as a cryptocurrency leader across Africa. She founded SunoTech, a blockchain-based platform catering to diverse sectors such as healthcare and agriculture. Her significant contributions to the blockchain and cryptocurrency realms include advocating for public education and promoting widespread adoption of blockchain technology in Africa. She has played a pivotal role in organizing blockchain and cryptocurrency conferences throughout the continent. Recognizing the challenge of blockchain unfamiliarity, Mbodj tackled it head-on by conducting seminars and workshops highlighting the advantages of blockchain technology. Additionally, she collaborated with various organizations to raise awareness and foster blockchain adoption across different industries.
19. Alakanani Itireleng - Botswana
Known as “The Bitcoin Lady,” Alakanani is a prominent blockchain influencer in Africa. Her journey is one of remarkable resilience and hope. After tragically losing her son to illness in the late 2010s, she discovered bitcoin as a means to accept international donations for his treatment. This experience ignited her passion for cryptocurrency, making her one of the first bitcoin advocates in her country. With a background in teaching, Alakanani shifted her focus from traditional subjects to blockchain technology education. She founded Satoshicentre, a blockchain hub in Gaborone, where she collaborates with developers to enhance understanding of bitcoin and utilize blockchain technology to address everyday challenges faced by Africans.
20. Nathalie Yamb - Ivory Coast
Nathalie founded "AnA Eco-Consulting," a blockchain consultancy firm specializing in sustainable development and environmental issues on the continent. Her advocacy for blockchain technology and cryptocurrencies as tools for financial inclusion and sustainable development in Africa has been instrumental. She has spearheaded various blockchain initiatives, including the development of a digital identification system for refugees aimed at addressing social and environmental challenges in Africa. Recognizing the widespread lack of knowledge about blockchain and cryptocurrencies in Africa as a significant hurdle, Nathalie has been actively engaged in educating African policymakers and regulators.
21. Yaliwe Soko - Zambia/South Africa
An early adopter of blockchain and cryptocurrency, Yaliwe has made a significant impact in the sector. She serves as the Chairwoman of the United Africa Blockchain Association and is the founder of Essence Crypto Consultants and United Africa Women in Blockchain. Driven by her passion for education, technology, and financial inclusion, Yaliwe ventured into cryptocurrency and blockchain in 2016, recognizing their potential to address inefficiencies in Africa. As a qualified training facilitator and assessor, she has created a beginner's learner guide and numerous YouTube tutorials on blockchain and cryptocurrency, helping others explore the opportunities these technologies offer.
22. Michelle Chivunga - Zambia
Recognized as a rising thought leader in the blockchain realm, Michelle is actively engaged in cross-border endeavors aimed at assessing how emerging technologies impact various segments of society, including women, businesses, and governments. She is dedicated to fostering education on leveraging digital tools to propel social and economic development. Michelle's initial involvement with blockchain dates back to 2009, marking the beginning of her exploration into the growth of the digital economy and the potential of emerging technologies like blockchain, quantum computing, and Big Data. She conducts extensive research and educational initiatives in collaboration with university partners and global institutions such as the WTO, UN, World Bank and the African Union.
23. Nelly Chatue-Diop - Cameroon
Nelly is a key figure in bringing blockchain-powered financial opportunities to a wider audience in Cameroon and beyond. She founded Ejara, Cameroon’s first crypto-based mobile investment platform. Ejara aims to make investing in fractional shares, commodities, and cryptocurrencies accessible to the masses in French-speaking Africa. Ejara targets demographics often left out of traditional finance, including women, small businesses, and rural populations. Blockchain empowers them to participate in the digital economy.
Imen is a mechanical engineer and executive MBA graduate from the Mediterranean School of Business with many years of experience working in finance and technology for multinational firms such as Ubitrade, Gltrade, Fis and Sunagrd where she founded the Sungard Byrsa Lab. She has been the Chief Blockchain Officer and Head of Innovation Factory at Talan since 2017. As a leading blockchain and cryptocurrency expert, Imen has established and managed a number of tech organizations aimed at disseminating consistent innovations in Africa. She enjoys training individuals and businesses on how they can implement the new technology in their operations and make it work for them. She also organizes hackathons and events related to solving problems with tech.
Edline is crypto exchange Yellow Card’s senior legal counsel in East Africa, and has been a leading voice in the crypto industry in Uganda. A lawyer trained in Harvard, Edline believes that the African crypto industry should have gender balance, and crypto startups should give more leadership roles to women. She is a notable speaker in various blockchain forums in Africa. She is set to take over as the president of the Blockchain Association of Uganda after the current president’s term expires.
Women Need to Contribute More to Web3
With only 6% of CEOs in blockchain being women, compared to the 17% of CEOs in the broader technology sector, there is a distinct underrepresentation of women in the field.
Gender disparity is also evidenced when capital raising for web startups. Those founded by all-male teams secure an average funding of $29.2 million, while those led by all-female teams receive an average of just $7.8 million.
These figures show an obvious bias in funding allocation, favouring male-led ventures. Statistics show only 15% of all VC-check writers are female which could explain an unconscious bias as most investments would be led by men. Crunchbase data shows that just 3% of crypto businesses have female founders. Furthermore, only 10% of crypto fund partners are women, while only 5 of the top 120 global crypto companies have at least one female co-founder. This calls for more women to get involved in the blockchain space, especially in Africa, where the technology’s features of immutability, transparency and decentralization are needed.
