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Gareth Grobler, Founder and CEO of iCE3X on the role of Digital Asset Exchanges in Africa

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Gareth Grobler is a digital currency entrepreneur and founded the cryptocurrency exchange iCE3X in 2013. He is a founding member of the UK Digital Currency Association. Gareth has over 15 years of experience in IT infrastructure and architecture development. He started iCE3X as a proof of concept and has been involved with other ventures including Merkeleon, a software company that builds exchange and processing software based out of Austria, with offices in Minsk and London. In this exclusive interview with Heath Muchena of Business Africa Online, Grobler provides clarity on developments in the industry within Africa and shares his views on cryptocurrency adoption on the continent. Excerpts:

Heath: What impact do you think cryptocurrencies will have on how people trade especially in Africa considering that a huge number of people on the continent remain unbanked and excluded from the traditional financial system and cross-border trade is slow and inefficient?

Gareth: It is a double-edged sword. Crypto gives more people access to more options but also creates a void where unscrupulous entities fleece consumers who are not as financially savvy due to the fact that they have not had regular exposure to financial products and or have no experience with investments.

Heath: What government issued African fiat currencies does your platform currently support?

Gareth: The iCE3X platform currently supports two fiat currencies, the Nigerian Naira (NGN) and the South African Rand (ZAR) in addition to the more than 10 cryptocurrencies.

Heath: iCE3X has been operational since 2013. What prompted the early move in the space especially in African markets you operate in i.e. South Africa & Nigeria?

Gareth: iCE3X began as a proof of concept for the SaaS exchange product but now we have more functionality and features than any other exchange in Africa. Our focus is on being the best trading platform and not a cryptocurrency custodian since our vision is to give end-users more options especially when it comes to storing cryptos and do not advocate storage on our exchange, only responsible trading. 

We have a loyal user base and are very proud to be one of the few exchanges with legitimate trades and volumes. We take a customer-centric approach to development and delivery of our offerings. Our primary focus is user education with regards to both cryptos and fiat money and blockchain technology adoption. An example is our free crypto trading platform feature which allows users to learn how to trade in real markets using demo tokens native to our exchange.

Heath: How is the cryptocurrency industry developing in South Africa?

Gareth: iCE3X is the abbreviation for “Internet Currency Evolution” so we understand that the industry still has a long way to go and we will see many transitions as the industry develops. We are constantly working on new ways to educate users about the underpinning technologies behind cryptocurrencies and are pleased with the trajectory.

Crypto markets are maturing and user security and knowledge is the main focal point for most honest operators. Part of the downside to the success of bitcoin has been the rise of scams being perpetrated under the bitcoin banner by opportunists looking to defraud unsuspecting ecosystem participants.

Also Read: Interview: Oprah Winfrey Leadership Academy For Girls Executive Director, Gugulethu Ndebele On Girls And Leadership

Heath: You’re part of the group helping to advise the South African Reserve Bank with respect to cryptocurrency regulations. How would you ideally like to see them approach regulating the industry particularly crypto exchanges?

Gareth: We see cryptos such as Bitcoin as complementary financial instruments rather than replacements for traditional fiat. The SARB have been doing a great job in taking great care to understand the industry and any new challenges it faces, both technically and socially. It is pretty clear to everyone that cryptocurrency such as bitcoin itself cannot be regulated or controlled, but rather that the interaction of fiat money and cryptocurrency should and can be regulated.

Ultimately citizens require consumer protection and the best way to provide this is by vetting and licensing the operators who facilitate the interaction of FIAT and Cryptocurrency. The wheels of government, unfortunately, do not turn as fast as we would like, but we are moving in the right direction and we look forward to being a licensed crypto-asset service provider (CASP).

Heath: How would you describe the progress in South Africa in terms of regulating the industry?

Gareth: South Africa is one of the leading countries worldwide in this respect. Our COO, Eugene Etsebeth was the inaugural Chairperson for the IFWG (Intergovernmental Fintech Working Group) back in 2016 during his tenure at the South African Reserve Bank. I’ve been consulting with the financial regulator since 2012 so overall as a whole RSA have been keeping on top of the curve, yet have been very careful not to tie the industry with unnecessary red-tape so I can honestly say that it is one of the best jurisdictions in which to operate.

Heath: What are some of the legal and regulatory guidelines you currently follow and how will the organisation monitor emerging regulatory considerations? For example Anti-money laundering (AML) laws; and know your customer (KYC) laws.

Gareth: We are proud to have been ahead of the game since inception. We have in fact set the standard in some respects. We follow Financial Action Task Force (on Money Laundering) (FATF) recommendations and already comply with all the suggested government regulations in terms of KYC and AML, even though these requirements are not yet legal requirements. We are also fortunate as I am a FATF recognised private sector expert and as a result, get to not only influence regulatory thinking on an international level but also benefit from first-hand exposure to the direction regulators are taking.

Heath: What can you tell us about the product roadmap for the exchange? You continue to release new features and list new digital assets, what upcoming features are you most excited about rolling out?

Gareth: There are a host of new features, functionality and assets scheduled for release during 2020. This includes stable coins, auto trading, 5 new order types, completely revamped and unique rewards system, new mobile apps, gamification and more deposit and withdrawal options. We are most excited about Artificial Intelligence Coin, our native utility token which will take cryptocurrency adoption and use in South Africa to a whole new level. This is due for release towards the end of Q1 2020.

Visit: iCE3X

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Avila Diana Chidume: Building Greeting Cards and Gifts Platform for the Underrepresented

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Avila Diana Chidume, Founder Avila.Diana (Image: Avila.Diana)

Avila Diana Chidume is a creative entrepreneur following a dream she had nursed since age 6, which is to have her own greetings card company. Growing up she struggled to find diverse cards, so she would make them herself using crayons and scrap paper.

In 2018, during her studies whilst in second year at Law school, she began creating again and founded Avila.Diana. With the goal to overcome stereotypes and change the world’s perceptions on underrepresented communities. This was achieved with the help of her brothers, mom’s living room table initially, and her remaining £32 for that semester.

Avila.Diana is a greeting card and gift platform created for people from ethnic minority backgrounds, the LGBTQ+ community, and people living with disabilities. A brand built to celebrate diversity and representation. With the majority of these cards designed by artists from these backgrounds.

In 2020 the dream was taken to the next level when she launched the World’s First Online global marketplace for diverse and representative greeting cards and gifts named, Kutenda. This was done in collaboration with Avila’s co-founder and younger brother, Nyasha. They discovered that large retailers either ignore ‘minority’ artists or steal their ideas, so through Avila.Diana they strive to provide these artists with the platform and support they need to grow.

Avila has always been passionate about helping people and has been trying to figure out how best to do so. She is very outspoken about her beliefs and mission on inclusivity with people. Inclusivity and its benefits. She engages people in topics which are uncomfortable such as race and mental health amongst the Black community. Avila is passionate about highlighting marginalized creatives creating their own diverse cards from different communities and celebrating their work. Her love for human rights and art have led her to where she is today.

 

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Rhoda Aguonigho: Building a Fashion Hub for African Creatives to Create, Connect and Collaborate

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Rhoda Aguonigho is a Fashion entrepreneur and cultural & creative industry advocate who is very passionate about the Creative industry in Africa. As a consultant, she has worked with several fashion entrepreneurs, teaching them how to launch their businesses and achieve their brand goals. As a project manager she has worked on some of Africa’s top fashion events and programs like Lagos Fashion Week, Lagos Fashion Awards, The Leap Project and many more.  Rhoda is the Founder of Lhaude Fashion network an organization that creates opportunities for emerging Fashion Talents and the Creative Director of Rholabel. In this interview with Alaba Ayinuola, she speaks on her journey as a fashion entrepreneur and her passion for the creative and fashion industry. Excerpts.

 

Alaba: Could you briefly tell me about yourself and your brand, Lhaude? 

Rhoda: My name is Rhoda Aguonigho and I am a fashion entrepreneur. My work in the fashion industry includes consulting, project management and also running a couple of fashion businesses. I am currently the founder of Lhaude Fashion Network. A fashion organization that creates opportunities for emerging fashion startups and creatives across Nigeria and Africa to thrive and grow. We do this via our various initiatives and our digital community platform. We run a digital hub that is currently home to over two hundred creatives across Nigeria and we are spreading that to Africa in the next couple of months.

Alaba: What attracted you to the fashion industry and what do you intend to achieve? 

Rhoda: Honestly, I don’t think there was a major thing for me except that when I was pretty much young, I just watched a lot of lifestyles and my interest in the fashion industry was more of wanting to design outfits. Then, I started styling, writing and then grew into becoming a magazine fashion editor, I started to do project management, working at fashion events, etc, and that is how I have grown in the industry.

I intend to achieve an ecosystem in Africa where the fashion business is sustainable and profitable, a system where creatives get constant opportunities to grow and thrive, where there is no gap between the emerging creatives and the top professionals.

Alaba: What were your initial challenges starting off?

Rhoda: I would say the first challenge was access. At the time I started, I was in school, and not in Lagos which is the fashion capital. I was running a fashion organization and needed fashion experts. But things started to get better as I finished school and was able to get into the fashion industry fully with a job.

Another challenge would be funding. You don’t have a lot of organisations giving grants or funds to fashion businesses or initiatives. Being an organization putting together events, initiatives, and needed funds to execute them. There was no amount that we could charge the participants that would cover the cost.

Alaba: How have you attracted members and grown the organisation from the start? 

Rhoda: value! People gravitate to where value is given. From the very beginning, in 2017 when we had our first event which took place in ile-ife, Osun State. We had the Style infidel and a fashion designer – Samuel Noon come down to ile-ife. It was a Lhaude network cocktail and a networking session between grassroots, emerging grassroots creatives, and fashion experts. We have various initiatives, a business incubator program, business advisory and mentorship schemes.

Alaba: What issues have proved to be the most challenging in your attempt to help support fashion designers in Nigeria? 

Rhoda: I would say a mindset problem, which comes from lack of proper fashion education. Some of these creatives you are trying to help grow are not even as invested as you are in the development of their businesses. I mean we have those with great mindsets, but to a large extent, especially local creatives who have not had the opportunity to be exposed to the fashion business properly or on a large scale. They don’t see the importance of certain things like PR, Accounting and Bookkeeping, Business models, the core business part of fashion.

Alaba: How has technology impacted the fashion industry?

Rhoda: A lot of things are changing, gone are the days when you have to travel abroad for International fashion courses. You can sit in the comfort of your room and access courses with coursemates across the world. Technology is helping to widen access to the market, improve collaboration among fashion enthusiasts, experts and make the fashion community across the world much closer.  

Another way is how technology is cutting down on waste. With 3D fashion, designers don’t have to create a physical collection to present. They can do it via 3D and clients select what they want and the designer makes the actual pieces. But in situations where people don’t like it or people don’t receive it, those samples are wasted.

Alaba: The term Fashiontech is still quite new. What is your opinion on this invention? 

Rhoda: Yes, Fashion tech is quite new and I am so excited because the possibilities are limitless.  Initially, it was just on the e-commerce level, connecting and building networks. But then it grew to 3D and now NFTs. I see innovations coming out of the fashion and tech industry and feel like there is still so much to learn and catch up with. 

I mean, Africa, Nigeria, in particular is still growing but I don’t think we are doing so badly. I think orientation is getting so better, people are getting more aware, adjusting and beginning to adapt to technology in their fashion businesses. We still need more education on FashionTech, this is one of the things Lhaude is actually looking into more for next year.

Alaba: Can you share 3 things that most excite you about the modern fashion industry? 

Rhoda: One of the things that excite me is the Fashion Tech like I mentioned in the previous question. The fact that innovation is limitless. I am so excited about the innovation, new ideas, new technology that are to come out from fashion with technology. Another thing is how as an African, there are no limitations to how you can express your creativity or culture, there are no border limitations, because of tech, we can express it to the whole world.

The third thing is building community. It is so amazing when you meet people from other cultures or countries who are interested in similar things as you. That is, as a fashion executive in Lagos, I can connect with a fashion executive or designer in London, Scotland, Australia, etc and we are building communities connected by our passion and drive for creativity, regardless of cultural differences.

Alaba: Where do you see Lhaunde Fashion Network and the Nigerian Fashion Industry in the next 5 years?

Rhoda: I see Lhaude being Africa’s foremost fashion community. The fashion hub where creatives across Africa and the globe plugin to Create, Connect and Collaborate. I definitely see Lhaude building a world-class hub for fashion creatives, where they get access to everything they need to build, to thrive, and to grow. 

I see the Nigerian Fashion industry as one of the leading fashion industries across the world. An industry that will be known for innovation, creativity, and originality. With a rich culture and creative people leading the fashion sphere across the world.

Alaba: What piece of advice would you give to budding entrepreneurs? 

Rhoda: My advice to them is, be resilient and innovative.  I would say to not give up, be resilient and do not just be comfortable with the state of your business or your business idea, constantly innovate, constantly grow. The idea for Lhaude came in 2016 and it didn’t start until 2017. At that time, I was still in college. It was quite difficult running an organization and building a career simultaneously. 

 

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Kevine Kagirimundu: The Rwandan crafting eco friendly and fashionable footwear from recycled car tyres

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Kevine Kagirimundu, CEO UZURI K&Y

UZURI K&Y is an African inspired shoe brand and manufacturer established in Rwanda since 2013. The company was founded by two women entrepreneurs (Kevine & Ysolde) who met at the University while studying Creative Designs. The two young women simply believed that it would be ideal to gather knowledge and create a common mission. In this interview, Alaba Ayinuola speaks with Kevine Kagirimundu, the Co-Founder and CEO on her entrepreneurship journey into sustainability and fashion, why she is preserving the environment, supporting community and creating jobs through her eco friendly shoe brand. Excerpts.

Alaba: Could you briefly tell me about yourself and your entrepreneurship journey?

Kevine: My entrepreneurship journey started when I was a young girl, I used to re-sew grandma’s clothes, no money came from it, just passion. When I joined university I changed my major from “Engineering to Creative & Environmental built”, it was an important step to starting my journey, I was 19 years old and determined as I started  gathering ideas in a book, during that time I also met my co-founder Ysolde Shimwe.

Alaba: What attracted you into sustainability and fashion?

Kevine: I come from a creative family of painters, poets and writers. I loved hand making things and I thought that creating was really my passion, with that I really wanted to add a meaningful value that will bring positive change in my community; that’s why our company is part of the circular economy with a focus on waste management.

Alaba: What’s the inspiration behind your brand, UZURI K&Y and the problems it is set to address?

Kevine: UZURI K&Y is an African inspired eco friendly shoe brand with a vision to brand Africa as an origin of sustainable fashion items on the global market. It was established in Rwanda in 2013 by two university friends Ysolde shimwe & Kevine Kagirimundu with a purpose to solve the environment and unemployment issues in their community. 

The company’s core problem that it’s solving focuses on recycling the wastes of car tires where everyday in sub saharan Africa, over one million of them are dumped in landfills  and sometimes taking up space from inhabited and vulnerable neighborhoods. In addition to that, it takes up to 80 years for a rubber tire to decompose while polluting water, air and even become nurseries for mosquitoes that carry diseases. Furthermore, in Africa the youth makes  60% of the total unemployment rate and young women are more likely to be unemployed even more often than young men. 

In order to tackle these issues we craft viable solutions to recycle car tyres to make functional and fashionable footwear for conscious millennial consumers. The company is also currently running its own production facility, four retail stores and using ecommerce to reach international customers. It is also equipping the youth with practical and soft skills  to increase their potential of securing jobs or even creating small businesses. So far, 1,065 youth have been trained and among those 70% are women and 10 have started small businesses.

Alaba: How have you been able to attract customers and build the company till date?

Kevine: Our customers are women who seek shop eco products. Our strategy is to use storytelling via social media channels, we also set to offer a wonderful experience via our retail spaces.

Alaba: What challenges did you run into starting out?

Kevine: I would say there are 3 major challenges as we started: lack of skilled labour, dominated market with second hand and imports and access to finance.

Alaba: Are there other areas that UZURI K&Y is aiming to be more sustainable?

Kevine: We have confidence that we shall be able to brunch into a more diverse range of products, such as sustainable sneaker and even turning the wastes into more useful products.

Alaba: One of the things that stood out on your platform was your intense screening process for each item. Can you explain why you decided to go with this process and what it actually involves?

Kevine: We developed techniques and ways to safely produce our products and it has become our unique proposition. It is an advantage and very important to our customers.

Alaba: Is your brand gender inclusive? What is the importance of gender inclusion in the brand’s choices?

Kevine: Yes, it is important with a special focus on creating jobs for women who are often left behind in different fields.  Inclusivity is crucial for the entire world to fight gender inequality, we are proud to be part of this change.

Alaba: How do you feel as an African entrepreneur?

Kevine: I believe that entrepreneurs will be the key pioneers to changing the African continent, It feels like being part of a history book!

Alaba: Where do you see UZURI K&Y in terms of products and markets in the next 5 years?

Kevine: A household African brand, with a tremendous impact on the youth through skills transfer and entrepreneurship.

Alaba: Finally, what’s your advice to budding entrepreneurs, especially females in the sustainability and fashion industry?

Kevine: Trust yourself that you can do it! 

UZURI K&Y footwears

 

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