Sui blockchain cofounder launches $1.3M fund for African developers

Mysten Labs co-founder Adeniyi Abiodun and his wife, Gloria Abiodun, are launching a $1.3 million fund to train and support blockchain software developers in Nigeria. 

The fund will give low-interest loans to Nigerians that want to enroll in talent development firm, Semicolon’s Techpreneurship program. 

The details 

• Announcing the development on social media, Abiodun said the fund will provide a platform for talented Nigerians aspiring to get into blockchain software development. 
• The fund will provide loans worth five million naira ($3,300) to students of Semicolons Tech Academy. 
• These loans will be repaid at 12% interest per annum with profits from the repayments recycled into the program to accommodate more participants. 
• According to Abiodun, he will donate the fund to the Inurere Foundation with disbursements managed by credit fintech, Meedl. 
• Among other things, the fund is targeted at providing an easy pathway for developers looking to learn smart contract languages such as Move and building on blockchain protocols such as Walrus and Sui, the latter owned by Mysten Labs.

Key quotes 

• Abiodun said:

“Supporting Nigerian students while inviting more builders to learn the programming language that has defined my career is immensely rewarding. With the rise of AI and blockchain, we are committed to ensuring African students are high-level contributors to the global tech workforce.” 

Why this matters 

• Africa is behind the rest of the world in terms of blockchain talent. Only 6% of blockchain developers are on the continent. In sharp contrast, 31% are based in Europe and 32% in Asia. 
• Former program director of bitcoin talent firm Btrust Builders, Femi Longe, told Mariblock the consequences of not having enough African blockchain developers are that innovation on the continent is hindered. 
• With a shortage of blockchain talent, many founders have had to train developers from scratch—an uphill battle that often sees them losing talent to bigger firms offering more competitive pay.
• The $1.3M fund launched by the Abioduns aims to bridge this gap, equipping more African developers to meet both global demand and the growing needs of local companies.