Session comes as South Africa leads G20
A high-level panel discussion focused on unlocking the potential of the African Continental Free Trade Area.
It also included the country's economic priorities, investment outlook, and broader role on the continent.
The session comes at a critical time, as South Africa leads the G20.
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This reflected a 7% funding increase and 12% fewer deals than the preceding year, while Africa secured $1.6bn across 236 deals in 2024, marking a year on year decline of 39% from $2.7bn. The median blockchain deal size reached $2.8 million, double the all-sector African median of $1.4m, reflecting investor willingness to make high-conviction bets even amid risk-off conditions. However, the average deal size fell sharply to $4.1m, a 44% year on year drop, indicating reduced appetite for larger ticket investments. The report said investors showed increasing preference for solutions that integrate with regulated financial systems, support cross-border use cases, or address infrastructure gaps in data verification and compliance. Sectorally, capital flowed toward pragmatic, utility-driven categories such as crypto-fiat financial services, decentralized finance, and blockchain-powered data infrastructure. Protocol-level investments, which dominated in previous cycles, largely paused in 2024, suggesting a shift from infrastructure buildout to application-layer deployment. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ "Africa's macroeconomic fundamentals reinforce blockchain's strategic relevance. In 2025, Africa hosts at least nine of the world's 20 fastest-growing economies. Yet it continues to attract less than 1% of global venture and private equity capital, revealing a persistent allocation gap. As blockchain offers a modular and interoperable foundation for addressing structural gaps in finance, identity, and data integrity, its relevance to Africa's broader technological development is paramount," the report said. Jarryd Kennedy, the head of Investments, CV VC Africa, and Brenton Naicker, principal and head of Growth, CV VC Africa, said globally in 2024, blockchain funding represented 3.2% of all global VC funding, up from 3.0% in 2023. It reached $12.1 billion across 1 309 deals, a 14% year-on-year increase in funding and 6% more deals. North America led with 50% of all funding, followed by Europe and Asia. "This paradox of declining funding amounts but increasing deal flow reflects the deep value opportunities available in the early stage African ecosystem. Venture capital globally remains cautious amid geopolitical uncertainty, but blockchain is claiming a larger share of investment in Africa," they said. 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This means even greater opportunities to leverage the technology to help build stronger, more sustainable African economies." He said blockchain was transforming financial market infrastructure. "It isn't just products and services that will be enhanced with blockchain technology, new financial market infrastructures will evolve – and have already. Blockchain's decentralised nature and immutable records enhance the security and efficiency of financial transactions, with enhanced trust and shared data through cryptographically signing and programmable smart contracts. This means intermediaries which currently provide services across the financial ecosystem may no longer be necessary, which could help reduce costs and speed up services," Downes said. BUSINESS REPORT
The South African
3 hours ago
- The South African
Donald Trump hints at skipping G20 summit in South Africa
US President Donald Trump has hinted that he may not attend the G20 leaders' summit in South Africa this November, citing continued dissatisfaction with the country's domestic and international policies. 'I think maybe I'll send somebody else because I've had a lot of problems with South Africa. They have some very bad policies,' Trump told reporters aboard Air Force One on Tuesday. The summit, scheduled to take place under South Africa's G20 presidency, is expected to be a key global diplomatic event. However, Trump's comments add fuel to already tense US-South Africa relations. Trump's criticism comes on the back of several contentious issues: South Africa's land reform policies : Trump has previously accused South Africa of land seizures and 'white genocide,' though these claims have been widely discredited. : Trump has previously accused South Africa of land seizures and 'white genocide,' though these claims have been widely discredited. International litigation : The US has opposed South Africa's case at the International Court of Justice (ICJ) , where Pretoria accused Israel of genocide over its actions in Gaza. : The US has opposed South Africa's case at the , where Pretoria accused over its actions in Gaza. Economic friction : In February, Trump signed an executive order slashing US financial aid to South Africa , criticising the country's Black Economic Empowerment (BEE) laws as discriminatory. : In February, Trump signed an executive order slashing , criticising the country's laws as discriminatory. Diplomatic boycotts: Earlier this year, US Secretary of State Marco Rubio boycotted a G20 foreign ministers' meeting hosted in South Africa. The ongoing Gaza conflict – which has left tens of thousands dead, displaced millions, and led to accusations of war crimes – has further divided Washington and Pretoria. South Africa continues to press its genocide case against Israel, a close US ally. South African President Cyril Ramaphosa has dismissed Trump's accusations, defending the country's land and economic policies as legitimate redress of historical injustices. He has urged Trump to attend the G20 summit, framing it as an opportunity for dialogue and diplomacy. If Trump follows through on skipping the summit, it would mark a major diplomatic snub, especially given South Africa's role as the current G20 chair. It remains to be seen who the US might send in his place. Analysts suggest Trump's decision could further deepen geopolitical divisions within the G20 and complicate discussions on global cooperation – particularly on issues of trade, security, and climate change. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Mail & Guardian
3 hours ago
- Mail & Guardian
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Africa's evolving merger-control ecosystem can serve as a driver for intra-African trade Africa's merger-control regimes are experiencing a healthy transformation, driven by proactive national and regional regulators and underpinned by the ambitions of the African Continental Free Trade Area's (AfCFTA) Competition Protocol. Together, these developments reflect an emerging commitment to balancing national priorities with the benefits of a harmonised, cross-border competition architecture. Across the continent, competition authorities are refining their own competition frameworks and laying foundations for deeper integration. The Economic Community of West African States's (Ecowas) Competition Regulatory Authority (ERCA), although still embedding itself, has similar ambitions to the more established Common Market for Eastern and Southern Africa Competition Commission. 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For investors, the ERCA's oversight offers welcome certainty, particularly in jurisdictions where domestic regimes are still evolving. Meanwhile, the East African Community Competition Authority is advancing its merger framework, aiming to start accepting merger filings by October 2025. The authority is also prioritising cross-regional collaboration — in June 2025, it signed a memorandum of understanding with the Common Market for Eastern and Southern Africa Competition Commission to coordinate on mergers and consumer protection matters that straddle both blocs. While this agreement sets a cooperative foundation, additional instruments will be essential to operationalise it fully. Further agreements with Kenya, Rwanda and Tanzania seek to streamline procedures and minimise duplicate filings, a critical step towards making the region more attractive for cross-border transactions. In East Africa, new national regimes are poised to come fully online. Uganda's Competition Act, enacted in 2021, establishes merger control as a key function, though full implementation is pending the finalisation of supporting regulations. Similarly, in Rwanda, supporting legal instruments are needed before the merger-control regime can become mandatory. Meanwhile, Tanzania recently overhauled its Fair Competition Act, explicitly allowing mergers to proceed on public interest grounds even where they might otherwise substantially lessen competition. The Tanzanian authority has also recently bolstered its staff capacity to enable more rigorous merger scrutiny. South Africa stands apart in that it is not in a regional merger-control system. Yet its domestic regime is evolving in ways that could influence the broader continental conversation — particularly through its intensified focus on the public interest outcomes of mergers. 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Although AfCFTA does not create a single market and sovereignty remains intact, the African Competition Authority will have jurisdiction in cases that reach the supranational level Notably, Article 11 of the Competition Protocol advocates for the identification of digital gatekeepers for core platforms. But most African jurisdictions, whether at domestic or regional level, do not yet have the laws in place to accommodate this. Kenya is a frontrunner and is currently amending its legislation to this effect. Collectively, these regional and national shifts reveal an African merger-control landscape that is both integrating and diversifying. Regional regulators are building frameworks designed to simplify cross-border compliance while national authorities continue to adapt their laws to support these ambitions. If successful, Africa's evolving merger-control ecosystem could serve not only as a safeguard against anti-competitive consolidation, but also as a driver for intra-African trade and inclusive growth, fulfilling both the letter and the spirit of the AfCFTA. Xolani Nyali is a partner, and Nazeera Mia a knowledge and learning lawyer, at Bowmans South Africa.
