Despite the growing adoption and expanding use cases for blockchain technology across Africa, the continent still lacks distinguished blockchain engineering projects and products tailored to address its unique challenges effectively.
The 2024 Crypto Developer Report by Electric Capital highlights this gap, revealing that Africa recorded the lowest growth in active developers contributing to top global blockchain projects. This underscores the urgent need to cultivate world-class engineering talent in the region.
REPORT | #Ethereum Remains the Most Popular Blockchain Among Developers in Africa, Says 2024 Crypto Developer Report
* The U.S is #1 with 19% developer share
* India onboarded the most new crypto developers
* Africa saw a 6% increasehttps://t.co/Ysh4PMAS9i @ElectricCapital pic.twitter.com/3m6LERtIIj— BitKE (@BitcoinKE) December 14, 2024
Recognizing this, major players like Binance and Bybit have recently partnered with local startup school, AltSchool Africa, to offer scholarships, training young Africans in blockchain development and software engineering.
CALL FOR APPLICATIONS | ByBit and AltSchool Announce 1,000 Scholarships for Africa Tech Students in 2025
Limited number of scholarship opportunties available. Deadline for applications is June 11 2025.
According to a statement, recipients will have the opportunity to enroll in… pic.twitter.com/Nl7f6R8f8D
— BitKE (@BitcoinKE) March 21, 2025
Now, Adeniyi Abiodun, Co-Founder of blockchain infrastructure firm, Mysten Labs, and his wife, Gloria Abiodun, have taken a bold step by launching a $1.3 million endowment fund. This initiative aims to bridge Africa’s blockchain talent gap by training the next generation of software engineers.
@EmanAbio, Co-Founder of @Mysten_Labs, is launching a $1.3 million endowment fund to help aspiring software engineers in Nigeria access the training they need to succeed.
This will happen through a donation to Inurere Foundation.
They are also teaming up with… pic.twitter.com/JS7mXlFlod
— BitKE (@BitcoinKE) March 24, 2025
Managed by Inurere Foundation, the five-year fund will provide student loans to aspiring software engineers participating in Semicolon Africa’s Techpreneurship program, a Nigerian workforce development initiative.
The program will equip students with advanced programming skills, including proficiency in Move, a language used for smart contract development. Fintech company Meedl Africa will oversee loan facilitation.
The fund will offer student loans of around ₦5 million ($3,300) at an annual interest rate of 12%, with repayments reinvested to support future students, ensuring the program’s long-term sustainability. Semicolon Africa, which has already trained over 800 software engineers through its Techpreneurship program, will assist graduates in securing employment upon completion of their training.
“Funds are recycled, meaning many more learners can be trained over time,” Semicolon COO Ashley Immanuel said.
“This fund, which isn’t seeking a financial return, can attract other funding sources to offer affordable interest rates. Nigerian financial providers are interested in student loans, but with MPR at 27.5%, their rates are too high.
Blending that ‘expensive’ capital with endowment funds can make loans more affordable.”
This initiative addresses Africa’s shortage of blockchain engineers, a challenge that could hinder the region’s startup growth. For Adeniyi Abiodun, the fund holds personal significance. Before co-founding Mysten Labs, he built his career in engineering roles at JP Morgan, HSBC, Oracle, and Meta’s Novi, the now-defunct digital wallet project designed for the Libra stablecoin.
“Supporting Nigerian students while inviting more builders to learn the programming language that has defined my career is immensely rewarding,” he said.
“With the rise of AI and blockchain, we are committed to ensuring African students are high-level contributors to the global tech workforce.”
As Africa’s digital economy continues to grow, with projections reaching $712 billion by 2050, the demand for skilled tech professionals is increasing.
Sam Immanuel, CEO of Semicolon Africa, believes this initiative could serve as a model for addressing the education financing gap in the region.
“We hope that more individuals—and companies—will follow in the Abioduns’ footsteps and invest in funds, like this endowment, that will engender sustainable talent development across the continent,” he said.
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