Billionaire venture capitalist and Bitcoin advocate Tim Draper says Africa’s growing use of digital assets, expanding tech ecosystem and young population could position the continent at the forefront of the next phase of global digital finance.
Speaking with Africa Blockchain Festival founder Olubunmi Fabanwo ahead of Africa Blockchain Festival 2026 set to take place from October 15 to 17, Drapper said tech and innovation will see Africa’s historically large unbanked population connect to the global financial system.
“I’m very excited about what Africa’s done. Africa’s been a big part of the Bitcoin economy,” Draper said. “A lot of those people were using Bitcoin to transact and be a part of the world economy.”
He argued that Africa’s combination of mobile tech, a young population and expanding digital infrastructure creates an opportunity for the continent to move quickly as financial systems evolve.
“I think Africa can leapfrog the rest of the world by jumping from fiat currency to Bitcoin, and make all money in software before the rest of the world catches up,” Draper said.
His comments come at a significant moment for Kenya, which is now strengthening its position as a regional center for fintech, digital payments and blockchain innovation while establishing a formal regulatory environment for virtual assets.
Kenya’s Virtual Asset Service Providers Act, 2025 came into effect in November 2025, creating a legal framework for the licensing and regulation of virtual asset service providers. The Central Bank of Kenya and Capital Markets Authority have subsequently been involved in developing regulations to operationalize the framework.
Kenya has spent years building one of Africa’s most recognized digital payments ecosystems, and its move toward dedicated virtual asset regulation signals an effort to bring emerging blockchain and cryptocurrency activity into a more defined regulatory structure.
The Virtual Asset Service Providers Act designates the Central Bank of Kenya and the Capital Markets Authority as the relevant regulators for different categories of virtual asset businesses. The framework covers areas including virtual asset wallets, payment processors, exchanges, brokers, investment advisers and certain virtual asset offerings.
Draper said policymakers should also consider applications for blockchain technology beyond cryptocurrency trading, including payments, business operations, financial reporting and record keeping.
Draper is open to African Investment
Draper also talked about his previous investments in Africa and said he remains interested in entrepreneurs capable of creating companies that can expand internationally.
His investment exposure to the continent has included Nigerian fintech company Paga and the African venture capital ecosystem through Savannah Fund.
“I’m very happy to continue to look and potentially invest in entrepreneurs who are doing extraordinary things, not just for Africa, but maybe from Africa to the rest of the world,” Draper said.
For Kenya, hosting the Africa Blockchain Festival 2026,bfor example ,comes as the country moves from largely debating how virtual assets should be treated toward establishing the institutions and regulations that will shape how the sector develops.
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