Afrik, a decentralized finance platform focused on funding AI and green energy projects in Africa, will participate in the Global AI Summit in Rwanda ahead of its official launch.
The invitation-only summit, hosted by Rwandan President Paul Kagame and the Centre for the Fourth Industrial Revolution (C4IR), will bring together policymakers, industry leaders, and innovators to discuss AI’s role in Africa’s economic development.
Why it matters
Afrik positions itself as a game-changer for Africa’s Fourth Industrial Revolution (4IR), leveraging blockchain and AI to create a transparent, decentralized funding model.
The platform aims to provide African entrepreneurs, institutions, and individuals with access to capital for AI and sustainability-driven projects.
What they’re saying
- “Africa holds 30% of the world’s mineral resources and has massive renewable energy potential. Afrik is about using these assets to drive green innovation and economic independence,” said James Saruchera, co-founder of Afrik.
- “Afrik is the most innovative financial instrument I’ve seen for Africa’s development,” said Patrick Sergant, a leading lawyer in Dakar.
- “This model enables African economies to direct more resources toward the private sector, closing the development gap with the world’s most advanced economies,” added Jean-Marc Bourreau, economist and Afrik co-founder.
Between the lines
Afrik’s core innovation lies in its use of a globally tradable digital asset that facilitates investments through smart contracts. The goal is to shift away from extractive economic models and enable financial sovereignty for African nations.
The big picture
Afrik has already gained endorsements from high-profile fintech entrepreneurs and economists.
- Arlinda Peixoto, CEO of fintech firm Pagali, emphasized that Afrik’s approach to decentralized finance could reduce Africa’s reliance on external financial institutions.
- The initiative aligns with growing calls for Africa to take ownership of its digital and economic future, as AI and blockchain reshape global markets.
What’s next
Afrik will use insights from the Global AI Summit to refine its platform ahead of its official rollout. The project aims to bridge funding gaps in AI, renewable energy, and digital infrastructure while fostering a self-sufficient African economy.
