In a recent announcement, Tether CEO Paolo Ardoino revealed the company’s plans for a significant investment in Africa, highlighting the continent’s potential for decentralized infrastructure development. Ardoino compared this investment to the foundational developments seen in early 20th century North America, signaling an ambitious aim to establish essential systems in energy, communications, and finance across Africa.
His statements have ignited a debate about the nuances of African development in relation to emerging technologies. Ardoino suggested that investing in Africa now is akin to backing the construction of critical infrastructure—such as power grids and postal services—during the formative years of North America’s growth. “If you were asked to invest in the company that would build the power grid, the post office, and finance markets one hundred years ago in North America, would you take that bet?” he posed on X (formerly Twitter).
While Ardoino’s analogy seeks to underscore the opportunity present in Africa, it has attracted criticism. Some commentators claim that his remarks imply that Africa is lagging in development compared to other regions, which many argue is an oversimplification of the continent’s advancements over the years. Analyst Duo Nine, for instance, responded to Ardoino, suggesting a rephrasing of his tweet to better reflect the complexities of African growth.
The discourse around Tether’s investment aligns with the conversations held during ETHSafari 2025 in Nairobi, a prominent event that brought together developers, investors, and entrepreneurs to explore the future of Web3 in Africa. Lisk’s COO, Dominic Schwenter, emphasized the continent’s potential as a burgeoning market for Web3, attributing this to its youthful demographic, high mobile penetration, and robust digital connectivity. He noted, “Africa has the highest entrepreneurship rate in the world—one in five adults owns their own business.”
Despite the optimism, local founders at ETHSafari underscored the necessity of community-driven solutions for Web3 adoption in Africa. They contend that the success of these technologies must address pressing local issues, such as remittance processes and supply chain transparency, rather than fostering speculative investments. Many stressed that while international funding is vital, the real transformation will depend on grassroots initiatives that resonate with local realities.
As Tether outlines its strategic ambitions for the continent, the juxtaposition of global entities and local founders poses critical questions about the future landscape of Web3 in Africa. With more than 60% of the continent’s population under 25, the potential for decentralized technologies to bypass outdated financial systems is substantial. However, the ongoing dialogue raises an important consideration regarding who will ultimately shape the future of Web3. Will it be defined by global giants like Tether, or will local communities take the lead in crafting solutions that align with their unique challenges and opportunities? This question remains open as Tether’s investments and Ardoino’s vision continue to shape the narrative about Africa’s burgeoning position in the Web3 ecosystem.
