Africa’s tech sectors – crypto, fintech, agritech, and AI – are booming in 2025, driven by innovation and a young, tech-savvy population. Here’s what you need to know:

• Crypto: Transforming financial access with lower remittance fees and cross-border payments. Nigeria leads with $59B in transactions (2023–2024). Stablecoins dominate 43% of crypto deals.
• Fintech: Over 1,000 startups by 2024, offering mobile-first financial solutions. Unicorns like Flutterwave ($3B valuation) and OPay ($2B valuation) highlight massive growth.
• Agritech: AI and blockchain are improving yields by up to 30%. Tools like AI-powered apps and blockchain-backed supply chains are helping farmers increase efficiency and income.
• AI: Applications in healthcare, logistics, and language tech are solving critical challenges. AI startups raised $803.2M by mid-2025, with potential to add $2.9T to Africa’s economy by 2030.

Key takeaway: With a growing digital economy and supportive government policies, these sectors are reshaping Africa’s future and offering opportunities for investors, entrepreneurs, and policymakers alike.

What to Expect in 2025 |Africa Fintech Pulse | Episode One

Crypto: Improving Financial Access and Cross-Border Payments

Cryptocurrency is reshaping financial access in Africa, offering a much-needed alternative for millions who face steep remittance fees and limited banking options. With 400 million adults across the continent lacking access to traditional banks and average remittance fees sitting at 7.9% for a $200 transfer to Sub-Saharan Africa, digital currencies present a more affordable solution.

Take Nigeria, for example. Between July 2023 and June 2024, the country processed $59 billion in cryptocurrency transactions, placing it among the global leaders in crypto adoption. Stablecoins now make up 43% of all crypto transactions in Sub-Saharan Africa, providing a dependable option for regions grappling with inflation and currency instability.

Growing Trends in Cryptocurrency Use

As Africa’s digital infrastructure grows, cryptocurrency is becoming a go-to solution for local financial challenges. Mobile money, with 1.1 billion registered accounts in 2024, has paved the way for wider crypto adoption. During Nigeria’s naira shortage, many turned to crypto as a reliable store of value.

Stablecoins are particularly transforming cross-border payments and remittances. A pilot program by Mercy Corps Ventures in 2025 demonstrated this potential by slashing fees on $5 micropayments for Kenyan freelancers from 29% to just 2%. These users not only saved money but also gained quicker access to their earnings without relying on traditional banks.

The remittance market itself is massive. Sub-Saharan Africa received $54 billion in remittances in 2023, but it also faces some of the highest transfer fees globally. Nigeria, the region’s largest remittance recipient, brought in $19.5 billion that year. Crypto solutions have the potential to cut transfer fees from 7% or higher to under 1%, while also enabling instant, round-the-clock settlements.

Rural areas are seeing significant benefits too. In regions with few or no bank branches, anyone with a smartphone and internet access can use cryptocurrency to access financial services. This is especially critical in Nigeria, where 26% of the population remains unbanked.

“Across Sub-Saharan Africa, crypto is converging with digital infrastructure modernization. Kenya, Nigeria, and others have regulatory foundations and young populations ready to participate in a new financial system.” – Maxwell DeGregorio, Senior Associate, FinTech, Milken Institute Finance, and Nicole Valentine, Director, FinTech, Milken Institute Finance

Key Players and New Solutions

Several platforms are driving crypto adoption by addressing the everyday needs of African users. Bitnob, for instance, allows users to receive payments in Bitcoin or USDT and instantly convert them into local currencies.

Onafriq, in partnership with Circle, is piloting USDC-powered settlement solutions. This network connects 1 billion wallets and 500 million bank accounts across more than 40 African markets.

“Our partnership with Circle is an important milestone, reinforcing Onafriq’s commitment to harnessing technology to remove complexity from cross-border payments. By integrating USDC, we aim to simplify financial transactions for institutions and individuals, reduce costs, and strengthen trust. This collaboration underscores our vision to democratize access to payments and drive financial inclusion across the globe. We’re not just envisioning the future of payments – we’re actively building it.” – Dare Okoudjou, Onafriq’s founder and CEO

The broader market is expanding rapidly. By 2025, Africa’s cross-border payments market is expected to reach $329 billion, with a compound annual growth rate of 12%, and could surpass $1 trillion by 2035. Digital remittance volumes have doubled since 2020, and Africa now accounts for 71% of mobile remittance value. These advancements are setting the stage for even more fintech innovation across the continent.

Comparison of Top Crypto Solutions

Different platforms cater to Africa’s diverse financial needs. Here’s a breakdown of some leading solutions:

Platform	Key Features	Geographic Coverage	Best For
Bitnob	Bitcoin/USDT receipts with instant local withdrawals	Multiple African countries	Individual remittances
Onafriq + Circle	USDC settlement infrastructure	40+ African markets	Enterprise payments
Chipper Cash	Free P2P transfers, mobile-first platform	Multiple African countries and US	Small business transactions
Traditional Banks	Established infrastructure	Continental coverage	Large corporations

Blockchain platforms are also helping individuals and small businesses convert foreign currencies faster. These services can reduce remittance fees by up to 60% compared to traditional banks, while offering quicker settlements and lower currency exchange costs.

Regulatory changes are also shaping the market. Nigeria’s 2023 Finance Act introduced a 10% tax on crypto asset disposal gains, signaling the government’s acknowledgment of the sector’s growing importance. However, challenges remain – over 80% of intra-African payments are still routed through correspondent banks outside the continent, incurring $5 billion in annual fees.

“We are entering a period of escape velocity in terms of everyone recognizing this is a new and upgraded payments technology. There’s real businesses and real use cases happening. It’s not some sort of crypto fad and the adoption is real.” – Chris Harmse, Co-Founder and Chief Business Officer, BVNK

Despite these hurdles, cryptocurrency is opening doors to economic freedom for millions of Africans previously excluded from traditional financial systems. With mobile money already handling 30% of remittances in Sub-Saharan Africa – $16 billion in 2022 with 22% annual growth – crypto is well-positioned to capture an even larger share of this booming market.

Fintech: Changing Africa’s Financial System

Fintech is reshaping how Africans access financial services, following the earlier waves of crypto’s impact. The sector has grown rapidly, with the number of fintech companies on the continent increasing from 450 in 2022 to over 1,000 by 2024. This growth addresses a pressing issue – by 2021, about 57% of Africans still lacked access to traditional banking services.

The change is being driven by mobile-first solutions that sidestep traditional banking systems. For example, in Tanzania, mobile money account ownership rose from 32% in 2014 to nearly 50% by 2023. In Uganda, mobile money now accounts for 65% of all electronic transaction values. Ethiopia’s progress has been even more dramatic, with regulatory reforms helping to drive mobile money accounts from just over 15 million in 2021 to 90 million by the end of 2023. This mobile-driven revolution is laying the groundwork for even broader fintech innovations.

Much like crypto, fintech uses digital tools to reach underserved populations. By analyzing alternative data like mobile usage and social media activity instead of traditional credit scores, fintech companies are offering credit, savings, and insurance products to millions who were previously excluded from these services.

Kenya’s M-Pesa, launched in 2007, was a game-changer, enabling millions to send, receive, and store money using just their mobile phones – no bank account required. Building on this foundation, companies like M-Kopa now serve 5 million underbanked customers, generating approximately $400 million annually through digital micropayments for smartphones and other assets.

Growth of Fintech Startups and Unicorns

The rise of fintech startups highlights the sector’s transformative impact. Among Africa’s nine tech unicorns as of March 2025, eight are fintech companies. Together, they have raised billions of dollars and serve hundreds of millions of users across the continent.

Flutterwave, for instance, leads the way with a $3 billion valuation as of April 2025. Founded in Nigeria in 2016, the company has raised over $475 million and operates across more than 30 US states and the UK. It provides payment infrastructure for global merchants and payment service providers.

OPay, valued at $2 billion, showcases the power of offering comprehensive financial services. Since its founding in 2018, it has grown to serve over 50 million users and 1 million merchants, with 10 million daily active users and monthly transaction volumes exceeding $12 billion.

Meanwhile, Senegal-based Wave proves that fintech success isn’t confined to Nigeria. With a valuation of $1.7 billion, Wave has nearly 11 million active customers and operates in seven countries.

Beyond unicorns, other fintech companies are making waves. PalmPay handled 15 million transactions daily in Q1 2025. PiggyVest has facilitated ₦2 trillion in savings and investments since its 2016 launch. M-Kopa has disbursed almost $1 billion in credit to 3 million underbanked customers, while Tala has provided over $6 billion in loans to 11 million users worldwide.

VC Investment and Regulatory Impact

The influx of venture capital has fueled fintech’s rise in Africa. In 2022, startups in the sector raised $1.4 billion – a 39% increase from 2021. By 2024, fintech accounted for 60% of all equity funding on the continent, with Nigeria alone attracting 47% of the deals.

Regulatory frameworks are also evolving to support this growth. For example, in September 2024, Nigeria’s SEC approved two local exchanges under its ARIP initiative. Across Africa, governments are introducing national fintech strategies and specialized licensing systems tailored to various fintech activities. Regulators are also emphasizing cybersecurity, consumer protection, and data security to ensure safe and efficient operations.

One emerging area is the Buy Now, Pay Later (BNPL) market. In 2024, this market was valued at $15.5 billion across Africa and the Middle East, with projections suggesting it could grow to $33 billion by 2029.

Financial literacy is becoming just as important as regulation. As Lee Naik, CEO of TransUnion Africa, points out:

“To hold it is to be in control and education will be required to trust [new systems]”.

This focus on education is critical as fintech companies expand beyond payments into lending, insurance, and wealth management.

Comparison of Top Fintech Unicorns

Africa’s fintech unicorns showcase diverse strategies for improving financial access, each excelling in unique ways:

Company	Valuation	Key Strength	Geographic Reach	Primary Focus
Flutterwave	$3.0B	Global payment infrastructure	30+ countries; US & UK	B2B payment processing
OPay	$2.0B	Comprehensive financial system	Africa & Asia	Consumer & merchant services
Wave	$1.7B	Mobile money leadership	7 African countries	P2P transfers & business payments
Tyme Group	$1.5B	Digital banking profitability	South Africa & Philippines	Full-service digital banking
Chipper Cash	$1.25B	Cross-border specialization	Multiple African countries & US	International money transfers

The potential for growth in African fintech remains enormous. If the sector reaches the same level of penetration as Kenya, revenues across the continent could multiply eightfold by 2025. With over 1.4 billion adults worldwide still unbanked, fintech companies are well-positioned to capture a significant share of this untapped market.

Take Moniepoint as an example – it processes more than 1 billion transactions monthly, with a total payments volume exceeding $22 billion. As MTN puts it:

“Everyone deserves the benefits of a modern connected life”.

Africa’s fintech sector is making that vision a reality for millions.

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Agritech: Changing Agriculture with AI and Blockchain

Agriculture is the backbone of Africa’s economy, employing over 60% of the workforce and playing a major role in GDP growth. Despite its importance, the sector faces significant challenges. By 2021, food insecurity affected 794 million people – nearly 60% of Africa’s population – while government spending on agriculture averaged just 4.1% during the same period. Clearly, innovative solutions are needed.

Fortunately, African agritech startups are stepping up to transform farming practices. Over the past decade, these companies have secured more than $1.8 billion in funding, and the AI agriculture market is expected to grow from $1.7 billion in 2023 to $4.7 billion by 2028. By 2025, agritech innovations could increase farm yields across Africa by as much as 30%.

AI and Blockchain Uses in Agriculture

AI is reshaping how African farmers manage their crops and make decisions. Across sub-Saharan Africa, 20.6% of farms use AI for crop monitoring, 17.7% for managing diseases, and 11.8% for predicting yields. These tools turn raw data into actionable insights, helping farmers optimize their operations.

One standout application is precision farming. For instance, FarmerTech Nigeria developed an AI-powered mobile app for maize cultivation that analyzes leaf photos to provide precise recommendations for fertilizer and fungicide use. This tool has boosted maize yields by 20%.

In Kenya, AgriVision introduced tractor-mounted cameras that detect weeds in real time, cutting chemical usage by 50%. Meanwhile, Ghana’s AquaSmart employs AI-driven drip irrigation systems, reducing water costs by 30% while improving crop quality.

AI also plays a critical role in early disease detection. By analyzing satellite images, sensor data, and weather patterns, these systems can alert farmers to potential pest outbreaks – an invaluable feature in regions with limited agricultural support services.

Blockchain technology is equally transformative, bringing transparency and trust to agricultural supply chains. Shamba Records, for example, works with over 40,000 farmers in East Africa to track crops from seed to shelf, ensuring fair pricing and authenticity. In Malawi, blockchain-backed tools have helped 2,000 farmers increase their annual income by $300, while Kenyan farms using regenerative traceability have seen income increases of 25–40% within 18 months. As one farmer from Kiambu County, Kenya, explained:

“Now, my soil and my children’s future have value.” – Wanjiku, Farmer in Kiambu County, Kenya.

These advancements are paving the way for even more breakthroughs in agritech across Africa.

Key Agritech Developments

Building on these technologies, several startups are creating integrated agritech ecosystems. In Rwanda, AFRIKABAL has developed a transparent crop trading network that connects farmers, logistics providers, and buyers. Kenya’s Shamba Records equips over 50,000 farmers with AI tools for credit, market access, and climate-smart agriculture. In rural areas with limited internet, Rwanda’s Smartel Agri Tech provides solar-powered AI tools that detect crop diseases early and send SMS alerts. Senegal’s TOLBI combines AI and satellite imagery to deliver insights on sustainable farming and crop yield forecasting.

The impact of these innovations extends far beyond individual startups. Hello Tractor, for instance, uses IBM’s blockchain technology to help small farmers lease idle tractors through a mobile app. This initiative has digitized 3.5 million acres, increased food production by 5 million metric tons, and created over 6,000 jobs. In Kenya, Twiga Foods partnered with IBM to launch a blockchain-based microfinancing platform that lets small vendors secure loans for fresh produce, with loan terms determined by AI analysis of purchase histories. Similarly, Cellulant’s Agrikore system connects small farmers with large buyers through a blockchain-based marketplace, currently active in Nigeria with plans to expand to Kenya. Dimitra, in collaboration with the Libyan government, is testing blockchain technology on 520 farms, using AI, sensors, and satellite imagery to monitor soil health and detect pests.

Comparison of AI-Powered Agritech Solutions

Different agritech solutions address various challenges across the region:

Company	Country	Primary Technology	Key Innovation	Measurable Impact	Scalability
FarmerTech Nigeria	Nigeria	AI-powered mobile app	Precise fertilizer and fungicide recommendations	20% yield increase	High – mobile-first approach
AgriVision	Kenya	AI camera systems	Real-time weed detection	50% reduction in chemical usage	Medium – requires tractor setup
AquaSmart	Ghana	AI-controlled irrigation	Smart water management	30% reduction in water costs	High – ideal for arid regions
Smartel Agri Tech	Rwanda	Solar-powered AI tools	Disease detection with SMS alerts	Effective disease prevention	High – works with basic phones
TOLBI	Senegal	AI + satellite imagery	Crop yield forecasting and sustainability insights	Improved planning and reduced risk	Very high – satellite coverage

Mobile farming platforms are expected to achieve the highest adoption rates at 41%, followed by climate-resilient seeds at 33% and precision farming at 25%. Private companies lead the charge, driving 88.2% of AI agriculture projects, with over 60% of South African farmers predicted to adopt digital agritech solutions by 2025.

AI: Driving Change Across Multiple Sectors

AI isn’t just a buzzword; it’s reshaping industries across Africa. From healthcare to logistics and finance, startups are leveraging AI to tackle pressing challenges while driving economic growth. By June 2025, 159 AI-focused startups in Africa had secured $803.2 million in funding. Fintech leads the pack, accounting for 20.9% of these startups, followed by talent and education technologies at 19.9% and 14.8%, respectively.

The economic potential is immense. According to GSMA, AI could contribute $2.9 trillion to Africa’s economy by 2030. Generative AI alone could unlock up to $100 billion in annual economic value. Over 40% of African institutions are actively experimenting with or implementing generative AI solutions. Let’s take a closer look at some of the startups driving this transformation.

AI Startups Leading Change in 2025

Entrepreneurs across Africa are using AI to address critical challenges in various sectors. In Nigeria, Myltura operates a digital health platform that leverages AI to improve remote healthcare access and integrate medical data across communities. This innovation is vital, considering there are only 1.55 physicians, nurses, and midwives per 1,000 people – far below the World Health Organization’s recommended threshold of 4.45.

In the compliance and finance space, E-doc Online has developed a platform that uses real-time banking data for efficient credit assessments and compliance processes. Similarly, Ghana-based Regulon simplifies regulatory compliance and onboarding for businesses through AI.

Pastel specializes in enterprise-grade AI tools for financial institutions, offering solutions like fraud detection and anti-money laundering systems. In Ethiopia, YeneHealth provides affordable access to medicines and healthcare services via an AI-driven platform. Meanwhile, RxAll employs deep learning and hyperspectral imaging to verify the authenticity of drugs in real time.

Language technology is another area where African startups are making strides. CDIAL has developed AI tools for 180 African languages, which have boosted rural e-commerce by 30% and reached over 100,000 users.

“African startups are applying AI to solve fundamental problems in groundbreaking ways. This initiative demonstrates our belief in the power of local innovation, and we’re proud to be part of the journey these founders are on.” – Folarin Aiyegbusi, Google’s Head of Startup Ecosystem for Africa

Practical AI Applications in Africa

Beyond startups, AI is already transforming everyday services. In South Africa, Envisionit Deep AI created RADIFY, a platform that quickly identifies critical lung issues from X-rays. During a COVID-19 outbreak at a 700-bed Kimberley hospital in 2020, RADIFY provided instant results when the only radiologist fell ill, drastically reducing wait times. Founder Jaishree Naidoo reflected:

“Seeing the tool save lives during that crisis was our real validation.”

Rwanda is also demonstrating AI’s potential in public health. Portable X-ray machines deployed by the Ministry of Health can screen up to 300 people daily, even in remote areas, enabling early tuberculosis diagnosis. This is a significant improvement, especially when South Africa has only five imaging units per million people compared to an OECD average of 18.

AI is also streamlining logistics. Nigeria’s Kobo360 uses AI to optimize supply chains across West Africa. In mining, a South African company implemented a generative AI interface for maintenance, increasing “wrench time” by 40%.

Customer service is getting a boost as well. A West African telecommunications company uses AI tools, including generative AI, to enhance call-center efficiency and customer satisfaction. In Nigeria, another telecom provider has scaled a chatbot that acts as a digital assistant, offering 24/7 support for service activation, balance checks, and airtime purchases.

AI’s life-saving potential is further evident in Zipline‘s drone delivery services. In Rwanda, their system reduced blood delivery times by 61% and cut blood unit expirations by 67%. In Ghana, Zipline’s operations have reduced vaccine stock-outs by 60% and improved medicine availability at health facilities by 10%.

“One of the things I like about AI is it takes over the mundane, routine tasks, so it makes you more efficient, and gives the human being more time to do more memory-intensive things.” – Harold Nixon, a Ghanaian radiologist

Comparison of AI-Powered Solutions

Here’s a breakdown of some standout AI solutions making an impact across sectors:

Company	Country	Primary Sector	Key Technology	Measurable Impact	Implementation Scale
RADIFY (Envisionit Deep AI)	South Africa	Healthcare	AI-powered X-ray analysis	Instant detection of critical findings	Hospital-level deployment
RxAll	Nigeria	Healthcare	Deep learning + hyperspectral imaging	Real-time drug authentication	–
CDIAL	Nigeria	Language Technology	AI tools for 180 languages	30% boost in rural e-commerce	100,000+ users
Kobo360	Nigeria	Logistics	AI supply chain optimization	Streamlined operations in West Africa	Regional scale
Zipline	Rwanda/Ghana	Healthcare Logistics	AI drone delivery	61% faster blood delivery	–
Curacel	Nigeria	Insurance	AI claims processing	Fraud detection and management	–

The momentum for AI investment is undeniable. Between 2022 and 2023, 103 AI-related venture capital deals brought in $641 million across Africa. This influx of funding is enabling businesses to operate more efficiently and cost-effectively.

Conclusion: Key Points for Stakeholders

Africa’s tech evolution presents substantial opportunities for U.S. investors, entrepreneurs, and policymakers. With the continent’s digital economy expected to grow from $22.67 billion in 2024 to $45.76 billion by 2029, engaging strategically is more important than ever.

For U.S. Investors, the data highlights promising prospects. In 2024, African startups secured $3.2 billion in funding, with fintech poised to reach $65 billion by 2030. By the first half of 2025, startups raised $1.42 billion across 243 deals – a 78.3% increase – of which fintech accounted for 45% of the funds.

Investing in scalable tech solutions, particularly in AI-driven farm systems, robotics, and alternative protein, offers a chance to tap into emerging markets. With global agritech funding projected to exceed $40 billion in 2025, focusing on projects that address carbon reduction, rural development, and biodiversity can yield both financial and social returns. Investors should prioritize ventures with solid business models, validated concepts, and measurable revenue growth, while leveraging diverse financing methods to mitigate risks.

For Entrepreneurs and Policymakers, the focus extends beyond financial metrics to operational and regulatory collaboration. For instance, the April 2025 partnership between Cassava Technologies and Nvidia to establish Africa’s first AI factory in South Africa highlights how private investments can enhance AI capabilities. Partnerships between AI startups, corporations, and governments can expand access to advanced technologies and traditional financial services.

Effective collaboration means treating African partners as equals, while emphasizing digital infrastructure, skills development, green investments, regulatory modernization, and strengthening value chains. Initiatives like the US-Africa Frontiers of Science, Engineering, and Medicine symposium in Rabat, Morocco, in January 2024 underscore the importance of knowledge-sharing for driving innovation.

Key Trends to Watch include a rise in mergers and acquisitions, with 29 deals recorded in the first half of 2025. Notable consolidations include Stitch acquiring ExiPay, Moove purchasing Brazil’s Kovi, and Moniepoint acquiring Sumac Microfinance Bank. The market is shifting from focusing on volume to prioritizing value, with investors concentrating their capital in fewer, high-impact sectors.

As Adesoji Solanke from Absa aptly puts it:

“What the ecosystem truly needs are successful businesses that address real-world challenges and deliver scalable, impactful solutions. The size of these companies is secondary to the significance of the problems they solve and the tangible value they create.”

Staying Informed is critical. With internet penetration in Sub-Saharan Africa averaging just 27% and the continent requiring over $200 billion annually to meet climate goals, there is ample room for transformative investments. Additionally, the full implementation of the African Continental Free Trade Area could increase continental income by $450 billion by 2035.

To seize the opportunities in Africa’s tech boom, staying updated through platforms like Tech In Africa is crucial. The potential is vast, but success hinges on understanding local contexts, forming authentic partnerships, and keeping pace with a rapidly evolving market. These insights align with earlier discussions on trends in crypto, fintech, agritech, and AI.

FAQs

How are stablecoins transforming financial inclusion and lowering remittance costs in Africa?

Stablecoins are making a big impact in Africa by improving access to financial services and lowering the cost of remittances. These digital currencies are designed to keep their value steady and now make up nearly 43% of all cryptocurrency transactions in the region. By enabling faster and more affordable cross-border payments, they offer a viable alternative to traditional remittance methods, which often come with hefty fees ranging from 8% to 10%.

For communities with limited access to banking, stablecoins remove the need for expensive middlemen. In many cases, they slash remittance costs to just a fraction of what conventional methods charge – sometimes as little as one-twentieth of the usual fees. This shift is transforming how millions of people send and receive money, creating new opportunities and boosting economic participation across the continent.

How is AI helping improve agriculture and tackle food security challenges in Africa?

AI is reshaping agriculture in Africa by introducing precision farming methods that fine-tune irrigation, fertilization, and pest control. This approach not only minimizes waste but also boosts crop yields – sometimes by as much as 20%. Additionally, AI-powered tools enhance remote sensing and soil analysis, offering farmers valuable insights to make informed choices and adapt to shifting climate conditions.

By tackling issues like erratic weather patterns, pest infestations, and limited resources, AI plays a critical role in bolstering food security and promoting efficient farming practices. These advancements enable farmers to achieve higher productivity with fewer inputs, building a stronger and more resilient agricultural landscape across the continent.

How are fintech startups in Africa addressing regulatory hurdles to provide financial services to underserved communities?

African fintech startups are addressing regulatory hurdles by working hand-in-hand with government agencies and regulators. These collaborations help build trust, streamline compliance processes, and create room for fresh ideas. A key tool in this effort is the use of regulatory sandboxes – controlled environments where startups can test new products while adjusting to evolving regulations.

Through these approaches, fintech companies are not only managing complex regulatory landscapes but also expanding their reach. This allows them to provide essential financial services to underserved communities across the continent.

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