The global crypto landscape is shifting. We see it in the headlines: more mergers, more acquisitions, more big players gobbling up smaller ones. This M&A frenzy, fueled by everything from venture capital to debt financing, is tracked on dashboards, analyzed by experts, and debated in boardrooms. What does it truly mean for Africa? What ever happened to the African developers, entrepreneurs, and communities that are truly creating the future of DeFi on the continent? Have these issues made it into the conversation at all, or are they simply pawns on the geopolitical chessboard?

Local Innovation Facing Existential Threat?

Let's be blunt. Their new “Crypto M&A Dashboard” that tracks these deals since 2017 certainly looks like a positive expansion to some at first glance. Personally, I think it’s an ominous alarm for African DeFi. We’re not just talking about the loss of local innovation. Even the most well-intentioned projects in Africa can just as soon be killed or diverted. This is usually the case when they are taken over by larger, Western-based entities. It's the digital equivalent of colonial resource extraction – only this time, it's code and community being taken, not gold or diamonds.

Think about it: a brilliant team in Nairobi builds a micro-lending platform using DeFi principles, tailored to the specific needs of their community. It’s innovative, it’s community-based, it’s responsive, it’s working, it’s empowering people, it’s building wealth from the ground up. Now imagine a Silicon Valley VC-backed company coming in and eating their lunch. They take those technologies and pour them into a sort of global technology platform that’s designed for scale, not necessarily for local impact. What happens to that community in Nairobi? What happens to the trust they built? It vanishes.

We have to level with each other about the power dynamics involved here. These M&A deals aren’t only about technology. They’re about control. And they determine who gets to define the future of finance. It’s up to us to make sure that this choice will lead to an inclusive, equitable future — not just a continuation of past inequalities.

Are African Voices Being Drowned Out?

This isn't about being anti-M&A. Strategic partnerships and acquisitions are helpful, bringing both resources and expertise on new technologies and ways to integrate excellent projects. Who is making the decisions? Whose voices are being heard? Are African developers and entrepreneurs at the table pushing for more equitable terms? Or are they getting take it or leave it proposals from firms that don’t have the institutional knowledge that digs into the experience of the local community.

My guess would be the second, almost all the time.

The focus on "valuation analysis" and "synergies" in these M&A dashboards feels cold and detached when you consider the human cost. We’re not just discussing dollars and cents— we’re discussing real lives, real communities, and real opportunities that are being affected. Where are the data points that tell us how to measure our social impact. Where is the focus on keeping the cultural relevance of these projects …

The most important thing we can do is to empower African developers, entrepreneurs and users. Let’s build these platforms for them to come talk about their experiences. They must lobby for regulatory protection, define the conversation around crypto M&A across Africa. Today the discourse is everywhere shaped by a Western-centric view, and that should not be the case.

A Call for Equitable Crypto Policies

Third, debt financing has emerged as a rising favorite funding source in crypto because it’s a non-dilutive funding source. Yet, it brings more complexity and room for risk. Now imagine one of those African DeFi projects borrowing money to scale even faster. All of a sudden, it runs into unfavorable terms and can’t pay back due to volatile market conditions. This could make them more susceptible to being gobbled up by larger firms in pursuit of distressed assets.

We need proactive policies that protect African crypto projects from predatory acquisitions and ensure that the benefits of DeFi and NFTs are realized by the continent's population. This means:

  • Supporting local innovation hubs and accelerators: Provide funding and mentorship to help African projects grow and become more resilient.
  • Promoting fair and transparent M&A practices: Establish guidelines for acquisitions that prioritize the interests of local communities and developers.
  • Encouraging the development of African-led venture capital funds: Empower local investors to support African projects and prevent them from being solely reliant on foreign capital.
  • Educating users about the risks and opportunities of crypto M&A: Help communities make informed decisions about the projects they support and the platforms they use.

The future of African DeFi hangs in the balance. Crypto M&A could either empower it, fueling growth and innovation, or erase it, consolidating power in the hands of a few global giants. The choice is ours. We need to put pressure on now to raise up Africa’s voice. Let’s make sure that everybody, all Americans, benefit equally from this great technology. Let’s not settle for another era of extraction, disguised as a shiny new future. So, let’s work together to build a DeFi future that’s really Made in Africa, for Africa.