This proposal is authored by: Alice from AfricaDAO, James & Annemarie from Jambo, Jonathan Allen from Mirana Ventures, Eden Kidane from Windranger Labs, Sandeep Nailwal from Polygon, Santiago R Santos, Piers Kicks from Delphi Digital, and Marius Barnett from Karatage

Background

Africa has been closely watched as the next big growth market for nearly a decade — and for good reason: the African continent is home to some of the youngest populations in the world, internet connectivity is expanding at exponential rates, and it is increasingly mobile phone-enabled.

Recent years have seen hundreds of tech hubs emerging across the African continent, driving innovation and providing significant employment, especially for its youth population. In 2020, The African Development Bank reported that 22% of Africa’s working-age population are starting businesses — the highest rate of entrepreneurship in the world. There is truly a blossoming community of young, driven entrepreneurs looking to build. With over 700M individuals owning cell phones (nearly 72% of youth aged 15-24) and the use of 4G expected to double over the next three years, hundreds of millions of Africans are extremely well positioned to launch, build, and participate in the future of web3.

How this benefits BitDAO:

In order to truly succeed, BitDAO will need to engage millions of users around the world. By positioning itself to support one of the largest, fastest-growing, and most promising markets, BitDAO stands to benefit immensely.

There is significant alignment with other previously launched BitDAO Autonomous Entities. Game7 stands to engage hundreds of millions of potential mobile users and empower them through new primitives such as those seen in P2E games. EduDAO would be extremely additive to African universities through collaborating and sharing knowledge to help students prepare for a career in web3. zkDAO is extremely ethos aligned in assisting in bringing truly community-owned and affordable scalability to future web3 applications usable by all. AfricaDAO will work with all of the existing BitDAO AE’s to expand their communities to the African continent.

Proposal:

Below we propose creating AfricaDAO, which will utilize a three-pronged approach to accelerating Africa into a hub for web3 innovation. $105M has already been soft committed, and $20M in funding is requested from the BitDAO community as an anchor partner.

Read the full proposal here

Funding is contingent on AfricaDAO fulfilling BitDAO legal review and best practices.