Hi all,
In 2022, I made an announcement that I'll be traveling through Africa by motorcycle to document Bitcoin on the continent... #24587
In 2023, I made a second announcement on the eve of my departure... #176183
The journey has been a true adventure, taking me through South Africa, Namibia, Botswana, Zimbabwe, Zambia, Kenya, and Tanzania. I'm now writing to you from Mozambique.
I'd like to extend my gratitude to everyone expressing your enthusiasm along the way. I've been posting via various channels about my experiences. However, I've realised that I haven't been especially consistent here on Stacker News. From here on out, Stacker News will be the primary hub of my activity.
The update:
First of all, I need to update some links.
Most recent Stacker News posts and updates: Self-reflection amongst Africa's smoke and mirrors: #667609 Bitcoin Nakawa - a community initiative in Zambia: #682979 Bitcoin Nakawa Project Update #1: Our first funding!: #692768
Essentially, Africa has been challenging and enlightening. A quick look at the recent posts reveals my disillusionment at the state of Africa due to foreign influence and religion. However, you'll also notice that I've started supporting a Bitcoin community in Zambia, Bitcoin Nakawa, which I'm thrilled about.
So much has happened. I fell in love and broke my ankle in Namibia. I attended Africa's first Bitcoin Mining conference in Kenya. I witnessed the world's largest wild mammal migration in Zambia. I lost access to my banking services while in Tanzania. I was rescued by local Tongans in Zimbabwe. I worked at Africa burn in South Africa. There are so many stories to share, but it's impossible to share them all...
Therefore, I'm providing the following summary of strengths and weaknesses for Bitcoin adoption in each country I've visited...
South Africa:
Strengths - adoption is already happening quickly with many Bitcoin communities along the coast. Many talented individuals. Active market with rich resources. Retail chains like Pick 'n Pay already accepting Bitcoin and crypto payments.
Weaknesses - The banking sector is dominant and relatively functional. It may take some time for people to move away from traditional banking. Recent regulations are increasingly prohibitive to Bitcoin and crypto.
Namibia:
Strengths - a relatively small population means adoption could saturate the population quickly. The monopolistic, state-owned, telecom company of Namibia, MTC, is extremely inefficient and expensive. It is prime for disruption. Unlike elsewhere in Africa, mobile banking like MPesa is almost non-existent in Namibia. There is some Bitcoin activity happening in the capital, Windhoek.
Weaknesses - due to legacy influence from South Africa, the traditional banking sector is dominant, though quite inefficient.
Botswana:
Strengths - This is a surprisingly stable and prosperous country in Africa, meaning the population is well educated and resourced. A good initiative can piggyback on Botswana's success. A relatively small population means adoption could saturate the population quickly. The main telecom is known as "BTC" - maybe there's a collaboration that can happen there.
Weaknesses - very little existing Bitcoin activity. Mobile banking like MPesa is uncommon with the influence of South Africa's traditional banking sector.
Zimbabwe:
Strengths - nothing works in Zim anymore. You can't function without USD cash, and access to USD is heavily corrupt. Zimbabweans are desperate to bypass the system. Before the collapse of the economy, significant investment in education has left behind a well-educated population despite economic woes.
Weaknesses - it's difficult to operate in Zimbabwe. It would be a significant and rewarding undertaking to tackle adoption here.
Zambia:
Strengths - this country has been growing well under the radar. The population is hopeful and peaceful. Existing telecom companies have made access to mobile services properly convenient and inexpensive. Mobile banking like Mpesa is common so understanding Bitcoin should be relatively easy. Recent inflation means Zambians need a way to preserve their wealth. Many opportunities for affordable land acquisition with resources for rural Bitcoin mining.
Weaknesses - Aside from typical African challenges, few weaknesses to report.
Kenya:
Strengths - more than 60% of the country's transactions are through mobile banking with MPesa. Therefore, the population is primed to understand and adopt Bitcoin.
Weaknesses - Recent political tensions are causing turbulence in the country. This may also be an opportunity to bypass inflation and tax escalation. MPesa is so dominant, that people may not want to deviate.
Tanzania:
Strengths - much the same as Kenya
Weaknesses - much the same as Kenya, but more stable at the moment.
Mozambique:
Strengths - MPesa is very helpful and common. A government that is stagnant and corrupt since independence in the 70's means the country needs a change. Nothing works here. South Africa's traditional banking system hasn't penetrated here. This country is waiting to be disrupted.
Weaknesses - Police presence is high and corrupt. Any foreigner is watched closely. You may have issues if you become too visible here.
Africa overall:
Strengths - a low average age of the population means understanding of technology is relatively ubiquitous in Africa. Familiarity with mobile banking like MPesa across the continent is inching Africans closer to Bitcoin. So many systemic issues on the continent can be solved with Bitcoin and Africans are desperate.
Weaknesses - access to information can be very difficult so Africans may not be able to learn about Bitcoin productively. Most Africans that have heard of Bitcoin have been scammed. They have a barrier to entry because they are fearful. Governments can be prohibitive, but this is also part of the opportunity.
Thanks all! More updates to come.
G
This is amazing! I can't wait to hear more about your adventures in Africa. The strengths and weaknesses that you've laid out are very articulate and reflect what I've noticed as well through our adventures except Namibia (haven't been there yet).
Looking forward to your future posts and it might be worthwhile for us to catch up outside of SN!
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Thank you! It'll be fun to learn more about your adventures. I also look forward to circling back through these places over time to track development.
Catching up would be great! I believe we met, although briefly, at Adopting Bitcoin Cape Town 2023. You guys have a great mission you're on.
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Lmk what is the best way to hit you up outside SN and lets block some time if possible!
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This is great. Thanks so much for sharing. Are you on nostr?
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Thank you too! Yes, thanks for the reminder:
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thanks for the write up, very interesting to see how btc is developing countries. too bad so many shitcoin scams have scared people so much
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Cheers! Yes, the level of fear is very apparent unfortunately. It's going to take some proper re-education to reverse the damage. It's also the fact that Bitcoin itself has been used for the scams. I've helped out a few friends here who have lost significant money placing their trust in "wealth managers" and such.
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Weaknesses - access to information can be very difficult so Africans may not be able to learn about Bitcoin productively. Most Africans that have heard of Bitcoin have been scammed. They have a barrier to entry because they are fearful. Governments can be prohibitive, but this is also part of the opportunity.
Also, when you think that the only African government that openly spoke about adopting bitcoin, the Central African Republic, were in reality criminals working on a wide scale scam. Their deceptive actions have caused immense damage to people's perception of bitcoin.
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Damn, I was really hopeful about Bitcoin in CAR. Do you have more information about this? I never heard that it all turned out to be corruption/scamming. I thought the president was a mathematics graduate of some sort.
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The president was the front man of a gang whose plan was to lure in and trick bitcoiners for free publicity. CAR never wanted to adopt bitcoin.
One of the president's advisors was a known con man who ran a crypto MLM in neighbouring Cameroon and scammed thousands of people. He fled the Cameroonian justice and found refuge in CAR where he worked closely with the president on their new plan. The US justice is also after him, and he's now believed to be hiding in Russia...
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Wow. This doesn't really surprise me though. Despite already being so poor, the populations of so many of these countries continue to be ruthlessly exploited by their corrupt "leaders". They do it in plain sight as if entitled to capitalise on the suffering of others. It's perplexing to witness blatantly unethical political behaviour that is so widespread. It makes me wonder if some psychological or cultural phenomena is taking place under-the-surface amongst African officials. Have they no dignity?
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People get corrupted by power very easily, and there's soooo much money to be made on the back of an ignorant and naive populations...
Usually, countries are run by clans/gangs who treat the country's resources as their private properties. Nothing new tbh.
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Thank you for sharing your Bitcoin story in Africa, you have truly become a promoter and that is not an easy job, keep it up my friend, don't give up.
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No plans to stop anytime soon! Thanks for your support and encouragement.
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