Flourish Focus: Zone on How Blockchain Can Redefine the Payment Infrastructure in Africa

“Dispense error.” If you’re withdrawing money from an ATM in Nigeria, there is a 1 in 10 chance that you get  this message. What’s more, when attempting to pay via a POS machine, the odds of transaction failure rise to 1 in 6. What gives?

Enter Nigeria-based fintech startup Zone, which addresses these issues with a permissioned, proof-of-authority blockchain that is fully licensed by the Central Bank of Nigeria. Zone enables banks and fintechs to communicate with each other directly, removing any central intermediary and boosting transaction success rates.

In our next Flourish Focus, Africa-based investor Ameya Upadhyay sits down with Obi Emetarom, Co-founder and CEO of Zone to discuss:

- How the power of blockchain can transform the quality of a country-wide switching infrastructure and solve critical problems.

- The systemic impact of improving outcomes for banks and customers highlighting real-world examples from Nigeria’s four largest banks.

- How Zone’s decentralized approach can help redefine how payment networks operate in Nigeria, and globally.

- The 2024 state of the venture capital funding for African fintech entrepreneurs.

Watch On-Demand