South Africa is falling behind its African peers in the blockchain investment race, but the country is making solid progress in creating a regulatory framework to govern the sector.
The countries that raised the most funding for blockchain ventures in 2021. Source: African Blockchain Reportfalling behind its African peers in the blockchain investment race, but the country is making solid progress in creating a regulatory framework to govern the sector.
In 2021, $18.9-million was raised to fund five blockchain and cryptocurrency companies in South Africa Companies in Africa raised a further $91-million in the first quarter of 2022, a staggering 1 668% year-on-year increase from the first quarter of 2021. So, although South Africa is not leading the race in blockchain investment, it is making leaps and bounds with cryptocurrency regulations.
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