ALMAZE MEDIA

Are stablecoins the answer to Africa's financial problems?

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:11:40 GMT

Are stablecoins the answer to Africa's financial problems?

With currency devaluation hitting hard across Sub-Saharan Africa, people are turning to stablecoins like USDT and USDC to protect their savings and unlock financial stability. 🏦💡

Here’s why it matters:

1⃣ Hyperinflation = Lost Value: Local currencies are rapidly losing their purchasing power due to soaring inflation rates. Stablecoins pegged to the US dollar are offering a safe haven against devaluation.

2⃣ Cross-border payments: Stablecoins are providing an alternative to traditional banking channels, allowing faster and cheaper cross-border transactions—especially crucial for a region with some of the highest remittance fees in the world.

3⃣ Financial inclusion: With many Africans lacking access to traditional banking, stablecoins offer a solution, empowering individuals and businesses with borderless financial tools.

4⃣ Crypto as an alternative: Stablecoins are becoming the go-to solution to escape unreliable financial systems, as seen in countries like Nigeria, Ghana, and Zimbabwe.

This surge in stablecoin adoption isn’t just a trend—it’s a lifeline for millions in the region. 🛟

💥 At BAM 💥 (Bold African Movement), we see this as part of Africa’s crypto revolution, and we’re here to drive mass adoption across the continent! If you’re passionate about blockchain’s role in transforming Africa’s financial landscape, let’s connect and make a difference together. 🤝

How did Wave overtake Orange in Africa? 🌍

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:10:51 GMT

How did Wave overtake Orange in Africa? 🌍

After spending 9 months in Africa this year, I was amazed at how widely Wave Mobile Money was used—outpacing Orange Money, a long-time player in the region.

Wave’s journey is a game-changer for Africa’s fintech space. Here’s how they achieved this remarkable milestone:

1⃣ Understanding Local Needs:
Wave didn’t just copy the models from other markets. They dove deep into Africa’s mobile money ecosystem and identified the pain points—like high transaction fees and limited access to financial services. By slashing costs (charging only 1% for sending money) and offering free deposits and withdrawals, they made mobile money more accessible for millions.

2⃣ Leveraging Technology:
Wave operates entirely on smartphones, leveraging the high mobile penetration rate across West Africa. With a seamless app that combines simplicity and reliability, they created a frictionless user experience, making mobile payments intuitive and easy to use.

3⃣ Massive Funding Boost:
In 2021, Wave raised $200M from top-tier investors like Sequoia Heritage and Stripe, which propelled its valuation to $1.7B, making it the first unicorn in Francophone Africa. This also signals growing international confidence in Africa’s fintech market.

4⃣ Impact Beyond Fintech:
Wave’s rise is not just about transactions; it’s about financial inclusion. By reducing barriers to financial services, they’re helping to improve the economic mobility of the unbanked and underserved populations across West Africa. This is transformational.

5⃣ Expanding Quickly:
Wave's success in Senegal set the stage for expansion across Francophone Africa. By targeting underserved markets, Wave has become a dominant player in mobile money, ensuring financial inclusion becomes a reality in the region.

Can a blockchain based solution do the same ?

Blockchain technology has the potential to replicate and even surpass the impact of Wave by reducing transaction costs, ensuring transparency, and improving accessibility. Africa is ripe for blockchain-based payment solutions that could disrupt the financial landscape and drive deeper financial inclusion.

If this is your goal, let's connect!

If you could tap into the WORLD'S FASTEST-GROWING economies, would you?

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:10:08 GMT

AFRICA is that opportunity 👇

"If you're not looking at Africa, you're already behind." this is what Chris Maurice CEO of Yellow Card App (they recently raised $33M) said during an interview with Laura Shin

He laid it out: Africa is where 50% of global GDP growth will come from over the next 30-50 years. But many businesses still ignore Africa in their plans. That's a mistake.

Here’s why Africa is crucial:

1⃣ Fastest-Growing Markets:
Africa’s populations and middle class are expanding faster than anywhere else. The continent is adopting blockchain and financial tech to solve real-world problems like food imports and healthcare.

2⃣ Blockchain’s Real Impact:
Forget the hype—this technology is helping African businesses stay afloat and ensuring critical imports. It’s not just for speculation; it’s about creating lasting change.

3⃣ Future of Finance:
Africa is already leading in fintech adoption, from payments to disrupting SWIFT. The rest of the world will catch up in 5-10 years.

Ignoring Africa means missing out on this massive shift. The question is, will your business be part of it?

If so let's discuss!

🚨 Blockchain Projects Ignoring Africa: It’s Time to Speak Up! 🚨

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:09:30 GMT

“We're not in Africa yet, but it's on our roadmap."

I’ve heard this excuse way too many times from blockchain projects that have raised millions, and quite frankly—it’s complete BS. If you really wanted to be in Africa, you’d already be here. It’s 2024—stop telling us you don’t have the resources or connections. The truth is, ignoring Africa is a conscious decision.

What frustrates me the most is seeing projects claiming to be “global” but have zero initiatives on the continent. Yet, they still expect to benefit from African users. This is not just an oversight—it’s disrespectful. Africa is not an afterthought, and treating it as such is a huge mistake.

So, here’s my message to these blockchain projects: If Africa is not part of your growth strategy, change this ASAP.

And to my fellow Africans: STOP supporting blockchain projects that ignore our continent. If they don’t value us, why should we value them?

It’s time we create a directory of blockchain projects that actually consider Africa in their strategies. Let’s elevate the ones that are committed to us, and boycott the ones that don’t deserve our support.

All the event/marketing budgets go to the West, Europe, Asia, and America while Africa is left underrepresented. That needs to change now. Africa must be on the map, and we’re going to make sure it happens. 💥

If you could reduce costs by 70% and help more people in need, would you embrace blockchain?

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:08:14 GMT

If you could reduce costs by 70% and help more people in need, would you embrace blockchain?

This NGO did.

Mercy Corps’ CIO Scott Onder shared insights on how blockchain technology can be a game-changer for NGOs.

By integrating blockchain, non-profits can:

1⃣ Boost Transparency:
Blockchain ensures full traceability of every transaction and donation, fostering trust and accountability among donors. This also minimizes risks of corruption and ensures fairer resource allocation.

2⃣ Increase Efficiency:
With smart contracts, NGOs can automate operations, reducing administrative overhead and speeding up aid distribution.

3⃣ Real-Time Data & Predictive Action:
Blockchain delivers real-time tracking of aid distribution, enabling organizations to optimize their efforts. Mercy Corps’ anticipatory action pilot also showed a 70% cost reduction—allowing more resources for aid recipients by predicting disasters and acting early.

4⃣ Reach the Unbanked:
Digital currencies powered by blockchain provide financial inclusion in remote areas, empowering those left out of traditional banking systems.

For NGOs, integrating blockchain means less waste, more aid, faster outreach, reduced inefficiencies, and heightened accountability—potentially transforming how humanitarian aid is delivered across the globe.

It’s time for the non-profit sector to embrace these blockchain-powered solutions and create lasting social impact.

What do you think?

If you're interested in discussing how blockchain can be used to solve real-life problems in Africa, let's connect!

Why is JPMorgan Going All In on Africa? 🚀

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:07:05 GMT

Why Africa, and why now? 🤔

Africa is on the verge of explosive growth, and JPMorgan is ready to seize the opportunity. With 1.5 billion people, a median age of 20, and soaring mobile penetration, the continent offers one of the most exciting opportunities for economic transformation.

But it gets even more interesting—JPMorgan could be the driving force behind blockchain adoption in Africa’s fragmented financial systems. 🏦💡

The Opportunity

🌱 Booming Economies: Africa’s young and rapidly urbanizing population is creating a hotbed for economic expansion.

🔧 Government Support: Pro-innovation policies and digital infrastructure development are opening doors for tech-driven solutions.

🌍 Global Competition: With China's growing influence in Africa, U.S. giants like JPMorgan are racing to build a foothold in this high-growth market.

🎯 Long-Term Vision: JPMorgan’s commitment to expanding across Africa over the next decade is a clear sign of their serious investment in the continent’s future.

🔗 Blockchain Focus? With their expertise in blockchain technology (think JPM Coin and Onyx), J.P. Morgan is perfectly positioned to introduce cutting-edge solutions to Africa's financial landscape.

What Does This Mean for Africa?

💰 Increased Investment: JPMorgan’s move will attract more foreign capital, sparking economic development in key markets.

📈 Enhanced Financial Services: Africans will gain access to state-of-the-art financial products, including blockchain-powered solutions.

👷‍♂ Job Creation: The expansion will create new jobs, stimulating local economies and tech-driven growth.

💡 Blockchain Leadership: JPMorgan’s expertise could fast-track the development of blockchain-based infrastructure, driving financial inclusion across fragmented markets.

What are your thoughts on JPMorgan’s ambitious expansion in Africa? Let’s discuss!

$33M for an African startup? 😳

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:05:01 GMT

$33M for an African startup? 😳

Is BlockchainCap out of their minds?

Blockchain Capital just led a $33M Series C for Yellow Card App 🚀

But they’re not crazy. They’re betting on the future. And that future is in Africa.

Here’s why:

1⃣ In the West, stablecoins might seem like a solution in search of a problem. But in Africa, they’re a lifeline.

With 14% inflation and foreign exchange shortages in 70% of African countries, stablecoins provide a way out of unreliable financial systems.

2⃣ The African banking system? Almost nonexistent.

80% of cross-border payments are processed offshore.
With the world’s highest remittance fees (8% on average), crypto is becoming a go-to for financial stability.

3⃣ Africa’s financial landscape is fragmented with 42 currencies and 400+ payment methods, but here’s the twist:

This complexity is why blockchain is a perfect fit. Stablecoins like USDT and USDC are bridging the gap.

4⃣ What most people miss? Africa is primed for massive growth:

👉 1.5 billion people
👉 Median age: 20
👉 75% mobile phone penetration

Blockchain isn’t just for the future—it’s Africa’s solution today.

5⃣ Yellow Card is leading the charge.

As Africa’s largest licensed stablecoin ramp, they’re solving liquidity by providing on/off ramps for stablecoins, giving millions access to dollar-backed savings.

6⃣ Their reach is already impressive:

👉 Connected to 45 regional banks
👉 45 mobile money providers
👉 25,000 cash agents across 20 countries

Yellow Card is building the bridge between crypto and Africa’s fiat economies.

So no, BlockchainCap isn’t out of their minds—they see what others are missing:

Africa is the next frontier for blockchain, and Yellow Card is paving the way.

BAM 💥 (Bold African Movement) has the same vision and if you share this vision too, let's connect!

Only 1.5% of Web3 builders are based in Africa?

almazemedia@newsletter.paragraph.com (ALMAZE MEDIA) — Mon, 28 Oct 2024 10:00:30 GMT

Only 1.5% of Web3 builders are based in Africa? That's a stat that needs to change. 🌍

I just read this in the latest A16Z State of Crypto report.

How can this be?

How can Africa, a continent filled with unmatched potential and brilliant minds, be home to only a tiny fraction of the world’s Web3 builders...

Blockchain can offer real solutions for Africa — for financial inclusion, healthcare, cadaster... The opportunities are limitless, but we need more builders to unlock this potential.

The world of Web3 needs more African builders, and Africa needs more blockchain solutions.

This is why we, at BAM 💥 (Bold African Movement), are organizing Blockchain Hackathons across the continent.

These events are designed to nurture talent, teach blockchain skills, and help the next generation of Web3 leaders emerge from Africa.

🚀 Want to help us make this happen?

📩 Contact us to work together and empower more African builders to lead the charge in blockchain innovation.