Survey: 13% of African companies plan to invest in crypto and blockchain

A growing number of African companies are adopting cryptocurrencies and the underlying blockchain technology, a recent report from consulting firm Deloitte revealed. The study, tagged "Africa CEO Survey Barometer," was conducted in partnership with the Africa CEO Forum.

Fast Facts

• 13% of the African companies represented plan to invest in blockchain technology over the next 12 months — up from 5% in 2020.
• 5% of the respondents said they're considering investing in cryptocurrency within the next 12 months.
• One CEO, in particular, believes that Africa needs to be more receptive to innovation, questioning many Central Banks' approaches to crypto.
• "We should embrace innovation rather than being too cautious. Central Banks’ reluctance for cryptocurrency, for instance, is unreasonable," said Pierre Goudiaby, group CEO at ATEPA, an architecture firm based in Senegal.

• The study surveyed 194 CEOs operating in over 50 African countries.
• Roughly 72 (37%) of the respondents lead companies that generate at least 100 million euros in turnover annually.
• About 48 (22%) of the companies represented in the study have over 1,000 employees.
• The study's objective was to gather the perception of African private sector leaders on important issues and challenges — and to identify trends in African business.
• Many African countries, including Nigeria and Kenya, currently ban financial institutions from dealing with crypto assets.