Afrik Foundation wants to change how Africa funds its future

Business Insider

27-06-2025

Co-founders James Saruchera and Jean-Marc Bourreau believe decentralized finance can unlock Africa's renewable energy and AI potential, all on Africa's own terms.
That idea became Afrik, a digital platform that uses blockchain and decentralized finance (DeFi) to fund green energy, AI infrastructure, and digital connectivity without needing traditional banks.
'Afrik evolved from a text called The Black Paper,' they explain. 'It describes the current state of Africa's development and what urgently needs to be done to avoid imbalances even worse than during colonial times.'
Their timing feels urgent. By 2030, AI could use as much power as Japan does today. Meanwhile, Africa holds vast untapped renewable energy potential.
'AI needs Africa because the biggest bottleneck isn't code—it's power,' they say. 'Africa has enough renewable energy to power the world eight times over from clean sources.'
Afrik isn't just about raising money. It's about how money moves and who controls it. The platform uses blockchain smart contracts to create transparent, borderless funding channels for projects that would typically struggle to get capital.
'The best technology is invisible and removes complexity,' says Saruchera. 'Afrik can pay into bank accounts and mobile wallets in over 20 African currencies, so for suppliers, it feels like business as usual. Meanwhile, on-chain records make everything auditable and transparent without any learning curve.'
Saruchera's experience spans technology, the arts, and economic development. He says that mix is intentional in how Afrik is built.
'Throughout history, human progress has often come when these disciplines work together—think of the Renaissance,' he explains. 'Art lets us imagine a better future. Technology is the tool to get us there faster. Economic development improves people's quality of life.'
Afrik is already lining up over $2 billion worth of projects across Africa. The goal is to focus on the continent's strengths, like renewable energy, AI infrastructure, and supercomputing.
'AI is the best opportunity this century to close Africa's development gap,' Saruchera says. 'Computing power applied locally can transform food production, medicine manufacturing, and advanced industry.'
Jean-Marc Bourreau has spent years advising governments on aviation, infrastructure, and economic development. He says Afrik grew out of seeing the limits of traditional finance models up close.
'Government advisory work is about improving livelihoods and creating jobs,' he says. 'Afrik does that too, but goes beyond advice by bringing real financing to projects that improve people's lives.'
Bourreau also says policymakers have a critical role in helping platforms like Afrik succeed.
'We need sovereign digital identity systems, e-KYC standards, and clear legal definitions for digital assets, smart contracts, and DeFi protocols,' he says.
Afrik's promise is not just transparency but real financial independence. Bourreau explains that the platform can reduce dependency on foreign aid or volatile external currencies.
'Afrik offers open, permissionless, and programmable financial infrastructure,' he says. 'Communities and entrepreneurs can access global capital directly without gatekeepers. Our pan-African token is backed by real-world assets and can help hedge against local inflation or currency instability.'
In the long run, the founders see Afrik as a way for Africa to leapfrog old banking systems and build something better from the ground up.
'We want to enable a bottom-up economic renaissance powered by inclusive finance and the latest technology,' Bourreau says. 'A pan-African system that isn't tied to banking models that don't work for the continent.'
Or, as they put it simply: 'We have the renewable energy. We have the creativity. Now we need the means to fund our own future, on our own terms.'