TLDR: Boom Technologies, a 100% African-owned company, is leading Africa into a new era of decentralized finance and sovereign AI. The company aims to create a single, borderless digital marketplace across the continent, enabling seamless online transactions using local currencies without the need for traditional banks. Founded by Peter Alfred-Adekeye with $133 million in seed capital, Boom addresses Africa’s financial paradox by connecting idle cash to the digital economy, projecting 300 million users by 2030.
Boom Technologies Ltd, a pioneering 100% African-owned company, is at the forefront of transforming Africa and the global financial landscape. The company is ushering in what it terms a ‘golden age’ of decentralized finance and sovereign AI, aiming to establish a seamlessly connected single digital marketplace that transcends national currencies and traditional banking systems. This ambitious initiative, launched on October 1, 2025, seeks to integrate Africa’s vast, cash-dependent economy into the digital world.
Africa has long grappled with a significant financial paradox: while the global economy thrives online, a vast majority of daily transactions across the continent occur offline and in cash. Estimates suggest that over one billion adults and businesses remain unbanked, effectively excluded from digital commerce. Furthermore, an estimated £25 trillion in physical cash lies idle outside the banking system, representing untapped economic potential. The International Monetary Fund (IMF) highlights that 90% of transactions in emerging markets are still cash-based, limiting access to credit, investment, and cross-border trade. Intra-African commerce is particularly hindered by the reliance on US dollars for cross-border payments, as African nations seldom accept each other’s currencies.
Boom Technologies offers a revolutionary solution to these challenges. It operates as a decentralized financial market infrastructure, empowering individuals to conduct online transactions globally using their local cash, entirely bypassing the need for a traditional bank account. By effectively linking £25 trillion in idle cash to the digital economy, Boom is creating a unified, borderless market across Africa, all without requiring a single common currency.
Peter Alfred-Adekeye, the Nigerian-born technology entrepreneur who founded Boom and personally funded it with $133 million in seed capital, articulated the company’s vision. “Boom is the world’s decentralised financial operating system, unlocking access to $1,000 trillion in real-world assets, while enabling value exchange across currencies, commodities and securities – without banks, borders, or permission,” stated Alfred-Adekeye. He further emphasized, “We have built the software infrastructure for Africa’s golden age of commerce.”
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The company projects rapid expansion, anticipating 10 million verified users within its first 12 months and an impressive 300 million users by 2030. This growth trajectory underscores Boom’s potential to fundamentally alter how commerce is conducted across Africa, making what was once considered impossible a daily reality for millions. The advent of Boom Technologies marks the beginning of Africa’s golden age of decentralized finance and AI, promising unprecedented economic inclusion and digital connectivity.
