Blockchain can drive Africa’s social transformation — SEC

Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), has said that blockchain can transform Africa’s innovation and economic growth.

Speaking on the theme “Build Africa’s Future: Harnessing Blockchain for Economic and Social Transformations,” at the inaugural BusinessDay Blockchain Conference on Wednesday, Agama noted that blockchain technology could be harnessed to tackle some of the continent’s most pressing challenges, including financial exclusion, lack of transparency, and inefficiencies in both the public and private sectors.

“Blockchain technology can create transformative change in Nigeria and across African economies and societies,” he said. “With over 60 percent of Africans still unbanked, blockchain-based financial services offer a gateway to financial inclusion, providing access to financial services without traditional banking infrastructure.”