NAIROBI, Kenya- Billionaire venture capitalist Tim Draper says Africa could move ahead of established financial markets by embracing Bitcoin and digital technology, as Nairobi prepares to host the Africa Blockchain Festival from October 15 to 17.
Speaking with festival founder Olubunmi Fabanwo ahead of the gathering, the longtime Bitcoin advocate said the continent’s young population, mobile technology and expanding digital infrastructure offered an opportunity to widen access to financial services.
“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 remarks put access to finance and investment at the centre of discussions ahead of the Nairobi event, where organisers expect to bring together entrepreneurs, investors, regulators and policymakers.
Bitcoin and access to finance
Draper pointed to Africans who have historically been excluded from banking services, arguing that digital assets could give more people access to the global economy.
“I’m very excited about what Africa’s done. Africa’s been a big part of the Bitcoin economy,” he said. “A lot of those people were using Bitcoin to transact and be a part of the world economy.”
His comments reflect his longstanding support for Bitcoin and his view that countries with less extensive traditional banking infrastructure could adopt new financial technologies more quickly.
Draper also urged policymakers to look beyond cryptocurrency trading when considering blockchain technology. He identified payments, business operations, financial reporting and record keeping as areas where it could be applied.
Kenya develops rules for virtual asset businesses
The discussion comes as Kenya develops the regulatory framework for its digital asset industry.
The Virtual Asset Service Providers Act, 2025 took effect on November 4, 2025, establishing a legal framework for regulating businesses that provide virtual asset services. It assigns regulatory responsibilities to the Central Bank of Kenya and the Capital Markets Authority.
The National Treasury, through a multi-agency task force and in consultation with the two regulators, has also developed draft Virtual Asset Service Providers Regulations, 2026 to support implementation of the law.
For businesses attending the festival, regulation will form part of a broader conversation about how digital asset services can develop alongside Kenya’s established mobile payments industry.
The event will run under the theme “Capital, Code, and Continuity: Building Africa’s Permanent Digital Economy”.
Draper open to more African investments
Draper said he remained interested in backing African entrepreneurs building companies with the potential to expand internationally.
His previous investment exposure to the continent has included Nigerian financial technology company Paga and the venture capital ecosystem through Savannah Fund, according to the event statement.
“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,” he said.
The remarks were an expression of investment interest rather than an announcement of a new fund or financing commitment.
For Kenyan founders, organisers say the festival will offer an opportunity to meet international investors and discuss the commercial and regulatory conditions needed to expand their businesses.
Policy discussions gain momentum
Fabanwo said engagement between entrepreneurs, investors and policymakers had advanced in recent years.
“The core of it is trust and freedom,” he said. “We’ve seen a lot of progress over the last three to five years, especially with African policymakers.”
He also spoke of younger entrepreneurs’ desire for faster progress.
“As young people, we’re bursting with energy, we want things to happen as quickly as possible, and we’re excited about the future.”
Organisers say the Nairobi gathering will focus on connecting African businesses with capital while examining the technology and rules needed to support a sustainable digital economy.
