# Crypto surprise! Ethereum founder Vitalik Buterin backing Zambia's bid to be Africa's tech hub | Tech News (HT Tech) > Zambia may be 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. # Crypto surprise! Ethereum founder Vitalik Buterin backing Zambia's bid to be Africa's tech hub ## Zambia may be 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. Aug 22 2022, 11:10 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Ethereum co-creator Vitalik Buterin](https://images.hindustantimes.com/tech/img/2022/03/27/1600x900/800x-1_1648374314568_1648374344805.jpg) Ethereum co-creator Vitalik Buterin (Chet Strange/Bloomberg) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Zambia may be 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. Startup founders from the southern African country and abroad are talking to the government about creating the regulatory and business environment that would attract more tech firms and capital. The group is in the process of organizing a conference in Lusaka, the capital, in May to draft detailed policy proposals that they believe will see Zambia succeed where previous African tech hubs have stuttered. “Ultimately it comes down to being welcoming,” said Mwiya Musokotwane, an early champion of the project and the son of Finance Minister Situmbeko Musokotwane. “If the policy doesn’t really live up to people’s expectations, noone’s going to be there.” Also read click here. Buterin, who helped create the world’s second largest cryptocurrency in 2013, expressed his support in a virtual meeting with Zambian President Hakainde Hichilema earlier this year. That followed a 2019 visit to the country as a guest of Mwiya, who wanted him to view a new charter city outside Lusaka that is also positioning itself to attract businesses. “I was impressed by everyone I met’s willingness to go and do big things,” the crypto pioneer said in an interview. The talks are a further sign of Africa’s recent and burgeoning role as a hotbed for startups, particularly in the fintech and e-commerce sectors. Businesses providing financial services to the continent’s millions of unbanked yet online people are attracting the attention of foreign investors particularly from the U.S., and African firms raised a record $5 billion in 2021. Companies including Nigerian payments firm Flutterwave Inc., whose latest $250 million fund-raising round valued it at more than $3 billion, are also interested in growing a presence in Zambia, Mwiya Musokotwane said. ## Employment Drive For Hichilema, attracting tech firms could be a means of delivering on one of his key election pledges -- boosting employment. More than one in four Zambians under the age of 24 have no income, according to data from the International Labour Organization, and the ratio has been worsening since 2013. The President’s commitment to resolving the issue played a major role in his August election victory after five previous failed attempts. He has since created the Ministry of Technology and 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. “We want to have a much more open-minded approach,” Kayumba said in an interview from Lusaka. “You can’t milk a cow that isn’t fully developed.” ## Early Mover Perseus Mlambo, originally from neighboring Zimbabwe, was one of the early movers. He started payments platform Zazu Africa Ltd. in Zambia five years ago, a firm that now accounts for half of Mastercard Inc. transactions in the country. He went on to raise $3 million last year from investors led by U.S. fund Tiger Global LP 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. “Copper is old and boring,” Mlambo said in an interview from Belluno, north of Venice, Italy. Governments “risk missing the proverbial boat by over-investing in extractives and under-investing in software. Tech uplifts multitudes of people and the barrier to entry is very, very low.” But ultimately the success of the project will come down to legislation. Zambia must improve the ease and cost of getting work permits, according to Malawi-born Wiza Jalakasi, vice-president of global developer relations at Chipper Cash, another Africa-focused fintech startup. And Mlambo said he’s been waiting for a residence permit to be approved since September. Still, the nation that’s changed the ruling party three times in thirty years already has progressive financial services regulation, making it attractive, Jalakasi said. “It’s not the biggest market in the region, but you can test things very easily,” he said. “That’s only going to get better with time as these policies are implemented.” Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel. 27 Mar, 19:39 IST ethereum cryptocurrency ![HT Tech Awards](https://tech.hindustantimes.com/ht-tech-power-list-awards-2026/httech-awards-banner-new.webp) ### Related Stories 29 Sept 2026 71,648,368,935,414 NEXT ARTICLE BEGINS ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Tips & Tricks ![Ghibli-style art](https://images.hindustantimes.com/tech/img/2025/03/28/414x233/ChatGPT_Ghibli_style_images_1743161814450_1743161814596.jpg) ### How to turn your photos into Ghibli-style art with ChatGPT for free: Step-by-step guide ![How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide](https://images.hindustantimes.com/tech/img/2025/02/14/414x233/invites_1738728829564_1739543695649.png) ### How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide ![Apple TV app arrives on Android phones and tablets: What you get and how to install it](https://images.hindustantimes.com/tech/img/2025/02/13/414x233/unnamed_1739426557335_1739426567634.jpg) ### Apple TV app arrives on Android phones and tablets: What you get and how to install it ![Vodafone Idea OTT plans](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Vodafone Idea users can now stream 17 OTT apps with one subscription: Here's how ![Android data transfer methods](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### How to transfer data from one Android to another using Google backup, USB-C cable, and more ## Editor’s Pick ![iPhone 16e launched with A18 chip, Apple AI—bringing flagship power on a budget: Check specs, price](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 16e launched in India: All details about the new budget mobile from Apple ![DeepSeek was founded in China with only a fraction of the budget of the top AI companies in the US.](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### DeepSeek AI: How it works, who’s behind it, how it’s different from ChatGPT, and its big US market impact explained ![iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on ![Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini ![iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update ## Trending Stories ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Infinix Note 50s 5G+](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Apple Intelligence AI training](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![CMF Buds 2](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside keep up with tech ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ![Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-twitter.png) ![WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-whatsApp.png) ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ## Gaming ![Check out these five gaming monitors under ₹20,000,](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Top 5 gaming monitors under ₹20000 you should consider ![gaming consoles](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Grab gaming consoles at discounted rates during Amazon Great Indian Festival: Up to 72% off ![Pokémon GO Wild Area 2025](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Pokémon GO Wild Area 2025 to bring Grimmsnarl family, Shiny Hatenna, and global challenges ![Shade Silver](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Shade Silver free on Steam for a limited time: Here’s how to get it ![Call of duty](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Call of Duty: Black Ops 7 skips Switch 2 at launch, release date and price leak ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Trending News ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.livemint.com/static/static/1x1_img.gif) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Infinix Note 50s 5G+](https://images.livemint.com/static/static/1x1_img.gif) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.livemint.com/static/static/1x1_img.gif) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![Apple Intelligence AI training](https://images.livemint.com/static/static/1x1_img.gif) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside ![CMF Buds 2](https://images.livemint.com/static/static/1x1_img.gif) ## Trending Gadgets Mobiles Laptops Tablets ![HT Tech](https://images.hindustantimes.com/tech/static/revamp/images/png/HT_tech-new.gif) - https://tech.hindustantimes.com/tech/news/crypto-surprise-ethereum-founder-vitalik-buterin-backing-zambia-s-bid-to-be-africa-s-tech-hub-71648368935414.html