better known for mining copper than crypto, but a group of young entrepreneurs are looking to reinvent the country as an African technology hub — with support from ethereum co-creator Vitalik Buterin.
“I was impressed by everyone I met’s willingness to go and do big things,” the crypto pioneer said in an interview. He has since created the ministry of technology & science as part of a drive to support the sector and help ease dependence on copper, which accounts for 75% of export earnings. The government is eager to consult with entrepreneurs on attractive policies for the tech industry, including tax incentives, according to Jito Kayumba, Hichilema’s special assistant for economic and development affairs and a former director at Kukula Capital, which invests in young Zambian companies.
He went on to raise $3-million last year from investors led by US fund Tiger Global for a new venture called Union54, a firm that allows companies to issue their own debit cards without going through a bank. Tiger, the investor firm of billionaire Chase Coleman, has also backed Flutterwave and been involved in talks on the Zambia hub.