Nairobi — US billionaire venture capitalist and Bitcoin advocate Tim Draper has highlighted Africa's potential to leapfrog traditional financial systems as Nairobi prepares to host the Africa Blockchain Festival 2026 from October 15 to 17.

Speaking with Africa Blockchain Festival founder Olubunmi Fabanwo ahead of the event, Draper said Africa's growing adoption of digital assets, expanding technology ecosystem and young population could position the continent to play a bigger role in the next phase of digital finance.

"I'm very excited about what Africa's done. Africa's been a big part of the Bitcoin economy. A lot of those people were using Bitcoin to transact and be a part of the world economy," Draper said.

He said the combination of mobile technology, a young population and expanding digital infrastructure gives Africa an opportunity to adopt emerging financial technologies faster than more established markets.

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"I think Africa can leapfrog the rest of the world by jumping from fiat currency to Bitcoin, and make all money in software before the rest of the world catches up," Draper said.

The comments come as Kenya develops a regulatory framework for virtual assets. The Virtual Asset Service Providers Act, 2025 came into effect in November 2025, providing a framework for licensing and regulating virtual asset service providers.

The Central Bank of Kenya and Capital Markets Authority have been tasked with regulating different categories of virtual asset businesses under the framework, including activities involving wallets, payment processors, exchanges, brokers and investment advisers.

Draper said blockchain technology could also have applications beyond cryptocurrency trading, including payments, business operations, financial reporting and record keeping.

Nairobi event

The Africa Blockchain Festival 2026 will bring together investors, founders, regulators, policymakers and technology companies in Nairobi under the theme, "Capital, Code, and Continuity: Building Africa's Permanent Digital Economy."

Festival founder Olubunmi Fabanwo said engagement between policymakers, investors and entrepreneurs was important as Africa's blockchain ecosystem develops.

"The core of it is trust and freedom. We've seen a lot of progress over the last three to five years, especially with African policymakers," Fabanwo said.

"As young people, we're bursting with energy, we want things to happen as quickly as possible, and we're excited about the future."

The organisers say the Nairobi event will provide a platform for African technology companies to engage international investors and for regulators and industry players to discuss the development of the digital asset sector.

Draper open to African investments

Draper said he remains interested in investing in African entrepreneurs building companies with potential to expand beyond the continent.

His investment exposure in Africa has included Nigerian fintech company Paga and the African venture capital ecosystem through Savannah Fund.

"I'm very happy to continue to look and potentially invest in entrepreneurs who are doing extraordinary things, not just for Africa, but maybe from Africa to the rest of the world," Draper said.

Africa Blockchain Festival 2026 is scheduled to take place in Nairobi from October 15 to 17, with registration, sponsorship and partnership opportunities open to participants.