By Ayomide Otitoju
Financial experts have called on cryptocurrency firms across Africa to adopt more structured and transparent communication strategies, warning that startup-style messaging could undermine trust as the sector matures.
In a commentary, John Kokome, Corporate Communications Manager at FlashChange, noted that while cryptocurrency adoption on the continent has grown significantly—driven by use cases such as remittances, cross-border payments, inflation hedging, and digital savings—many firms continue to rely on informal, hype-driven messaging typical of early-stage startups.
According to him, this approach is increasingly unsuitable for an industry that now functions as a critical component of financial services for millions of users.
“The future belongs to crypto brands that communicate like banks,” Kokome stated, emphasizing that financial services demand clarity, consistency, accountability, and trust rather than marketing-driven narratives.
He highlighted trust as a major barrier to financial innovation in Africa, citing widespread incidents of failed schemes, frozen accounts, and fraudulent investment platforms. These experiences, he said, have blurred the distinction between legitimate blockchain businesses and fraudulent operators in the eyes of many consumers.
Kokome argued that effective communication is central to addressing this challenge. He urged crypto firms to provide clear and accessible information on key issues such as fund storage, transaction processes, dispute resolution, and service disruptions.
“Customers should not have to navigate complex jargon to understand how their money is handled,” he said.
The communication expert further advised companies to abandon the “move fast and explain later” culture, stressing that delays, technical issues, or regulatory changes must be communicated promptly and transparently to avoid eroding customer confidence.
He also noted increasing regulatory scrutiny across the continent, referencing oversight efforts by institutions such as the Central Bank of Nigeria and the Securities and Exchange Commission. According to him, this trend signals the sector’s transition into mainstream finance, where higher communication standards are expected.
Kokome maintained that the most successful crypto brands will be those that prioritize credibility over visibility, through timely updates, transparent policies, and professional customer engagement.
Using remittance services as an example, he explained that while speed is a key advantage of crypto platforms, users facing delays are more concerned with assurance and timely communication than transaction speed alone.
He added that African firms possess a competitive edge due to their understanding of local economic challenges, including currency volatility and payment inefficiencies. However, he stressed that this must be complemented by “institutional-grade communication” to sustain growth.
“At the end of the day, users are not just buying speed or rates—they are buying confidence,” he said.
Kokome concluded that the next phase of crypto growth in Africa will be driven not only by technology and innovation but by reputation and trust, urging firms to recognize their role as financial institutions in the public perception.
“Money moves where trust lives,” he added.
Kokome is a communications professional with experience spanning fintech, cryptocurrency, telecommunications, and development sectors. He currently leads strategic communication and stakeholder engagement at FlashChange, with a focus on promoting transparency, financial literacy, and responsible innovation in Africa’s digital asset ecosystem.
