As Africa continues to embrace digital transformation, experts say the continent must transition from being a passive consumer of technology to becoming an active creator and innovator. They emphasized that homegrown blockchain and artificial intelligence (AI) solutions are crucial to driving inclusive and sustainable development. This call was made during the inaugural Africa Blockchain Festival (ABF), which ran from November 7-10 at Kigali Convention Centre. The festival drew over 1,000 participants, including regulators, investors, fintech leaders, policymakers, and academics, to explore how blockchain and AI can shape Africa’s economic future. Unlike conventional conferences, the festival’s format blended culture, creativity, and collaboration, symbolizing the unity and innovation it aims to inspire across the continent. ALSO READ: Why lenders need to adopt AI-powered credit scoring, blockchain tech The inaugural ABF aimed to showcase how blockchain and artificial intelligence(AI) can transform African economies, promote financial inclusion, attract global investment, and build a connected community of African innovators. Speaking at the opening ceremony, Olubunmi Febanwo, the festival’s lead convener, described the event as ‘a dream coming true,’ in an effort to position Africa as a global innovator, rather than a passive adopter of technology. “We have worked tirelessly with one unshakable belief that Africa is ready to move from just being a tech consumer to becoming a global innovator,” Febanwo noted. He commended the Government of Rwanda, the Ministry of ICT and Innovation, and partners such as the Rwanda Blockchain Association (RBA) and Binance(the title sponsor) for their support in hosting the event. Other key sponsors for the event include Mexc, Tether, Hyperbridge, Okx, Bybit, and Obiex & Stellar. “We didn't just build this to be another conference. We built this because we saw a critical need, fragmentation, and innovators building in silos,” he said. “We built the Africa Blockchain Festival to be the solution. A single platform built on three core pillars: policy, innovation, and capital.” Febanwo also revealed plans for ABF Labs, a new initiative that will transform discussions from the festival into actionable projects. The labs will connect innovators with government institutions to research and address Africa’s most pressing challenges in data systems, infrastructure, agriculture, and citizen services. ALSO READ: How Rwanda uses blockchain technology to ease land transactions Additionally, ABF Labs will feature a venture studio, aiming to work with innovators to ensure they get both technical support as well as a clear structure in integrating into the corporate world. Rwanda’s commitment to digital transformation Oreste Rurangwa, Rwanda’s Ministry of ICT and Innovation’s Permanent Secretary, reiterated that technologies like blockchain and artificial intelligence are essential tools in achieving Africa’s vision. “Technology should help close gaps, not widen them. We want a future where a farmer in a rural village has the same access to market information as a trader in a major city,” Rurangwa noted. “And we also want a future where a patient's medical history is safely available anywhere where they need care.” Rurangwa highlighted the government’s Vision 2050 commitment to positioning Rwanda as a regional innovation hub, adding that policies such as the upcoming Virtual Assets Law under the Capital Market Authority aim to attract responsible investment in emerging technologies. “We are using blockchain not just for finance, but also to build trust in other important areas, such as governance, where we have tested blockchain for land registration and public procurement, ensuring records are secured and cannot be altered,” he added. He also mentioned the Central Bank Digital Currency (CBDC) pilot, which explores new ways of promoting innovation and financial inclusion, alongside AI applications in healthcare, agriculture, and public service. “Let's align our policies and connect our digital systems so that innovations born in Kigali can grow across the continent. Africa's digital future will not be built by one country or company. It will be built together by everyone in this room,” he added. According to the Central Bank of Rwanda, Rwanda’s digital currency pilot phase is set to begin in 2024. During a joint session of both chambers of parliament on December 1, the central bank’s Governor Soraya Hakuziyaremye said that the preliminary trial rounds will begin with financial sector staff, as well as testing cross-border transactions, which will help in assessing both efficiency and costs. From regulation to innovation Norbert Haguma, the Chairman of Rwanda Blockchain Association(RBA), reflected on the association’s growth since its founding in 2017 and its role in shaping Rwanda’s blockchain ecosystem. He emphasized the association's resilience over the years that inspired the community growth and policy changes both locally and regionally, describing the current status as a post-regulatory era. “The era where innovation finally meets clarity. The era where investments, jobs, and real-world applications will begin to flourish,” Haguma added. “ It is not just a milestone for Rwanda. It is a signal to Africa and the world that our continent is ready to lead in the blockchain era. For too long, Africa has been the testing ground for other people's technologies.” He noted that Rwanda’s example is inspiring other African countries, with regional collaborations now extending to Nigeria and South Africa, helping shape policy discussions and the broader implementation of the ABF. What to expect as ABF advances? Aside from insightful discussions with key speakers from around the globe and cultural interactions, the festival will feature workshops and training, live exhibitions, startup pitch competitions, and business-to-business matching.
