There has been no shortage of technological adoption in Kenya’s capital city with tech company iHub, leading the latest move.
According to a press release on BitcoinAfrica, iHub has partnered with a blockchain-based tech startup, Raise to tokenize its company assets. Raise is known to have developed a blockchain technology solution that allows a company to convert assets into digital tokens that are traded in frontier markets.
By virtue of the new deal, iHub has become the first African tech accelerator to tokenize its company assets using blockchain technology. This move is expected to make it easier for global investors to buy iHub’s securities through Raise’s platform.
A New Capital Raising Tool For Startups
While sharing his thoughts about the new partnership, Nekesa Were, iHub, Managing Director expressed a conviction that Raise’s tokenized solution will be a crucial cog for the next generations of startups springing up in Africa.
iHub is committed to making it easier for our community of start-ups and entrepreneurs to raise the capital they need to grow their business. The Raise platform promises to radically transform how businesses raise money and we hope this will lead the way for more start-ups in our community to follow suit.
Given iHub’s illustrious portfolio working with and carry out seed-funding for startups, it is expected that the new tokenized solution yield good results in the long run. Also, now that the lid has been broken, more tech startups in Africa are likely to consider moving their company assets on a blockchain since it offers them the opportunity to introduce their ideas to global investors.
Gradually blockchain is finding in roots in African nations. Earlier in the week, Microsoft and Interswitch announced that they were rolling out a blockchain solution to help startups in Nigeria to raise capital more efficiently.