October 11

Cameroon’s Ejara Raises $2 Million to Offer Crypto and Investment Services in Francophone Africa

By Tage Kene-Okafor

The adoption of cryptocurrency in Africa varies regionally. While countries with currently unstable currencies like the naira are seeing immense usage, other regions using the CFA franc have sparse adoption.

A region of more than 200 million people using the CFA franc, Francophone Africa is one of the most crypto-friendly markets in Africa. But only a few players are taking advantage of the market, which can make a case as the next frontier for mobile money and investment apps in Africa.

To that end, Ejara, a one-year-old company founded by Nelly Chatue-Diop, has raised $2 million to pioneer the usage of crypto and investment services in the region.

Photo courtesy of Simon Berry.

Source: TechCrunch (link opens in a new window)

Finance, Technology, Telecommunications
cryptocurrency, fintech