Cardano’s co-founding entity, Emurgo Africa, together with global business consultancy PwC, recently released a report on the State of Web3 in Africa: Kenya, Nigeria and South Africa.

Some key takeaways from the report are

The comprehensive 81-page report shows that Africa, given its young demography, high proportion of unbanked people, large diaspora, propensity for cross-border trade and volatile local currencies, is well positioned to exercise soft power to drive innovation, as well as benefit from Web3 technology.  The report emphasizes that the value of Web3 in Africa is in its use to enable traditional systems with new, efficient and sustainable methods; to create more equitable, fair and progressive societies where there is better access to education, finance and healthcare. 