The goal of Bpifrance is to favour the growth of the French economy by helping entrepreneurs thrive. We are also the French agency for innovation, delivering massive programs to innovative entrepreneurs.
It includes a map of Africa, showing where crypto assets are allowed or banned:
This map shows that Cameroon explicitly bans cryptos, with a few others.
Today, we learn that “Ejara, a Cameroonian fintech offering an investment app that allows users to buy crypto and save through decentralized wallets, has raised $8 million in Series A investment.” Read more here.
Today, besides the “usual” investors in crypto rounds, there’s a very interesting name in the mix:
“London-based venture capital firm Anthemis co-led the growth round alongside crypto-focused fund Dragonfly Capital. Anthemis is a follow-on investor in Ejara, having also led the fintech’s $2 million seed round announced last October.”
“Participating VC firms in this new financing include other follow-on investors Mercy Corps Ventures, Coinshares Ventures and Lateral Capital–and new investors such as Circle Ventures, Moonstake, Emurgo, Hashkey Group and BPI France (sic).”
To be clear: BPIfrance, a public French bank (directly connected to the French government), is investing in a crypto app in Cameroon, where cryptos are supposedly forbidden, when the whole crypto world is crashing… Is that crypto-capitalism or crypto-colonialism?
If people remember what “Francafrique” is, there are so many questions to ask here…
But I suppose that all the African Freedom Activists will see nothing here, and will rejoice about this investment in such a context…