Latest news with #Jean-MarcBourreau
Business Insider
27-06-2025
- Business
- Business Insider
Afrik Foundation wants to change how Africa funds its future
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.'
Zawya
29-04-2025
- Business
- Zawya
Afrik: A new economic tool empowering direct action on Africa's future
Dubai: In response to shifting global economic tides and the uncertain future of long-standing trade frameworks like the African Growth and Opportunity Act (AGOA), the Afrik Foundation has announced the upcoming launch of Afrik, a groundbreaking platform designed to enable individuals across the globe to actively participate in Africa's economic journey. AGOA, a U.S. trade programme enacted in 2000, offers eligible sub-Saharan African countries duty-free access to the U.S. market for thousands of products. While it has fostered trade and reform, its future remains uncertain as it nears its 2025 expiration. As U.S. tariff policies evolve and questions mount over AGOA's extension, Afrik emerges as a timely response. The platform offers a direct and transparent way for people to support Africa's growth - by funding renewable energy and AI development projects that are designed and led by Africans themselves. "AGOA was a lifeline for African exports, but Africa cannot afford to wait on external trade benefits. The future must be built from within. This is why we are launching a practical economic tool that empowers action over observation,' said James Saruchera, co-founder of Afrik. With previous financial models failing to meet the scale of the private sector's needs, Afrik introduces a decentralized alternative that reduces reliance on volatile currencies and external debt. The platform backs projects in clean energy and AI that reflect Africa's own priorities, and enables broader participation from the global community. 'Africa's strength lies in its resources - both natural and human - but its potential has long been obstructed by systems that do not serve it. Afrik is here to help change that. It offers people a way to support Africa's development directly, securely, and equitably,' said Jean-Marc Bourreau, economist and co-founder. In the Middle East, where economic diversification and stronger ties with the Global South are key regional goals, Afrik provides a meaningful channel for engagement. By linking contributors with green and tech-based initiatives, Afrik encourages inclusive economic participation and regional collaboration, helping to advance Africa's transformation from within. Afrik invites the world to move beyond aid-driven models and support a development pathway where African-led solutions are funded by those who believe in their potential. About Afrik Afrik is a decentralized digital platform designed to unlock Africa's economic potential by funding AI, renewable energy, and digital infrastructure through borderless, transparent, and decentralized financing. Developed by leading African economists, technologists, and creatives, Afrik aims to drive self-sufficiency, sustainable wealth creation, and financial inclusion.
