Seychelles leads Africa in blockchain funding, attracting 31% of investments despite Nigeria dominating crypto adoption and deal volume.
According to the 2025 African Blockchain Report by CV VC, Seychelles has retained its position as Africa’s top destination for blockchain investment, securing $38.35 million in funding—31% of the continent’s total. South Africa followed with $24.25 million, Nigeria with $18.85 million, and Kenya with $5 million.
Despite this lead, Seychelles’ share has declined from $209 million in 2022 to $122.45 million in 2024, reflecting a broader drop in blockchain funding across Africa. In contrast, Nigeria—Africa’s leader in crypto adoption and transaction volume—secured only $1.5 million in blockchain funding in 2023, but now tops the continent in deal volume with 10 recorded deals (33%).
Africa’s blockchain funding fell sharply from $474 million in 2022 to $190.7 million in 2023 and $122.45 million in 2024, accounting for just 1% of global blockchain investments. Centralised financial services attracted 40% of 2024’s funding, while blockchain infrastructure sectors saw little to none, although some classify Nigeria’s Zone as an exception.
CV VC Africa’s Jarryd Kennedy expressed optimism about the region’s future, saying African founders are demonstrating how blockchain can address real-world problems despite the funding volatility.
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