Photo of Gideon Kombian. Provided by Gideon Kombian, used with permission.
Harvard College predicts that technology will shape the future of money, with trends like cashless societies, the rise of cryptocurrencies, widespread digital currency use, and the introduction of Central Bank Digital Currencies (CBDCs) by governments.
However, a financial inclusion report by S&P, a global insurance ratings group, highlights a major challenge: 68 percent of Ghanaians are financially illiterate, placing Ghana among the lowest-ranked countries globally in financial literacy. A recent study also points to a significant gender gap — women face greater barriers to financial inclusion due to lower income, limited financial education available to them, and less trust in financial institutions. In Ghana, Men are generally more financially literate than women due to increased educational and employment opportunities.
In response, Gideon Kombian co-founded a nonprofit focused on educating young Ghanaian women about money and Bitcoin. In an interview with Global Voices, he discusses his work and the evolving landscape of cryptocurrency adoption in Africa.
Zita Zage (ZZ): Can you tell us about yourself?
Gideon Kombian (GK): I work as a software engineer with 10 years experience. I’m also the co-founder and Executive Director of Bitfiasi, a non profit organisation that helps young African women gain confidence with money, learn about Bitcoin, and explore digital tools for growth.
I started Bitfiasi because I care about giving people access to knowledge that can truly change their lives. One of the things I’m passionate about is building a Bitcoin circular economy where people don’t just buy Bitcoin, but actually use it in everyday life to earn, save, and spend. It’s a way to strengthen local communities and make financial freedom more real and reachable.
ZZ: Why did you found an organization that educates women about money and Bitcoin, and why should people care about this?
GK: I’m very passionate about money and Bitcoin because I’ve seen how a lack of financial knowledge can hold people back, especially women. In many communities, women are managing households, running small businesses and taking care of families. But no one really teaches them about how money really works or how to grow it.
Bitcoin matters to me because it gives people real control over their money. Most people see it as an investment tool, I see it more as a tool for freedom. It lets you save in a way that isn’t affected by inflation or broken systems. People should care about this because the world is changing really fast. The future of money is already digital, and if we don’t understand it, we risk being left behind.
ZZ: What is the difference between money and Bitcoin? Why do you see the need to build a circular economy?
Gideon Kombian (GK): When you look at our form of money, the Ghanaian cedi, it keeps losing value. Prices go up, but your money doesn’t stretch as far. Not everyone has access to banks, and even though mobile money is popular, there are still people who don’t use it or don’t trust it.
Bitcoin is different. It’s digital money that anyone with a phone can use. It’s not controlled by any government, and it holds its value better over time. But for it to really make sense in our lives, we need to be able to use it, not just save it.
That’s why I’m building a Bitcoin circular economy. It’s about helping people earn Bitcoin, save it, and spend it in their everyday life — like paying for food, transport, or services. It’s a way to build stronger communities with money that works for us.
ZZ: How did a software engineer like you end up knowing so much about money and Bitcoin? Did you have any financial training or a mentor?
GK: I didn’t come from a finance background, I studied Computer Science and Statistics and became a software engineer. But in 2018, when I started learning about Bitcoin, I began asking deeper questions about money. Why does it lose value [in some countries]? Why is it so hard for people to save or grow wealth, especially in Africa?
ZZ: In your quest for answers, what did you find about why it is difficult for people to save or grow wealth in Africa?
GK: It’s hard for many Africans to save or grow wealth because incomes are low and unstable. Government policies like high taxes, strict business rules, and rising interest rates make things worse.
Most people also can’t access good investment options, and [Ghana's] financial literacy is still low around 32 percent. So even when people want to do better with money, the system isn’t built to help them.
All of this creates a system where people work hard but struggle to move forward. That’s why we need better tools and better education, so more people can take better control of their finances.
ZZ: I know the Central African Republic (CAR), became the first country in Africa to take the lead in legalizing cryptocurrency. While Nigeria is the first country in Africa to have introduced and implemented its own CBDC, the eNaira. Can you shed light on the state of cryptocurrency adoption in Africa? Have other African countries adopted or banned cryptocurrencies?
GK: The state of Bitcoin adoption in Africa is growing rapidly, driven largely by grassroots use rather than government support. Public interest in Bitcoin often goes far beyond government policies. Many Africans turn to Bitcoin to protect their income from inflation and unstable local currencies. In countries like Nigeria, Ghana, Kenya, and South Africa, Bitcoin is widely used for savings, remittances, and business especially by young people and small business owners.
However, not all countries are supportive of the use of Bitcoin. Egypt, and Algeria have either banned or placed heavy restrictions on the use of Bitcoin and other cryptocurrencies due to religious, financial, and legal concerns. In Egypt, for example, the government has banned crypto in general, but the country still ranks high in global crypto interest, showing that people continue to use it informally.
The Nigerian government also placed restrictions on banks dealing with crypto due to concerns about illegal activities, scams, lack of consumer protection, and the fear that crypto could weaken the national currency. However, the country remains one of the top in the world for peer-to-peer Bitcoin trading.
In contrast, some countries like Namibia and Botswana are starting to create frameworks to regulate and support the crypto space.
Overall, Africa is one of the most promising regions for Bitcoin, not because of top-down adoption, but because of the real everyday problems Bitcoin helps solve. From cross-border trade to inflation protection and financial access, people are using Bitcoin as a practical tool. As education and awareness grow, so will adoption, whether or not governments are ready for it.
ZZ: What impact are you seeking to make through your organization and in the lives of African women? And how do you intend to achieve this?
GK: Through Bitfiasi, I want to help African women gain confidence and control over their money, their choices, and their future. Women are the backbone of our families and communities, they manage homes and raise children. But many are stuck in a cycle of poverty, not because they aren’t capable, but because they don’t have access to the right knowledge or tools.
We teach financial literacy and Bitcoin in simple and practical ways. We help women understand how money works, how to save and grow it, and how to use Bitcoin to protect their earnings and unlock new opportunities.
Our long-term goal is to build a Bitcoin circular economy where everyone can earn, save, and spend using Bitcoin in their daily lives. This isn’t just about technology, it’s about helping women break free from poverty and lead stronger, more independent lives.
