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2020: Paxful, A Global Crypto Giant Sets Top 3 Priorities For Africa

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Paxful Co-Founders, Artur Schabak & Ray Youssef (Source: Paxful)

By almost every metric, Africa has been central to the Paxful story; company shares about their top 3 priorities for Africa

JOHANNESBURG, South Africa- Global peer-to-peer (P2P) Bitcoin marketplace, Paxful, believes that the world has much to learn from Africa about the future of the crypto-economy and that 2020 will be a landmark year for the African crypto and blockchain industry. 

With millions of users globally and Africa being the fastest-growing region, Paxful reported that the company processed almost $1.6 billion (R23 billion) in trade volume globally in 2019; the result of a steady increase of 25%+ trade volume growth year-on-year on the platform since the business’ inception in 2015. Paxful currently hosts over three million wallets, 45% of which are from Africa.

Deepen our relationship with our African users

While the peer-to-peer marketplace has enjoyed tremendous success on the continent, the company is not complacent. Paxful leadership intends to spend a lot more time in Africa over the next few years. The aim is to continue to learn from its customers and provide them with the best possible peer-to-peer finance marketplace. 

With Nigeria, Ghana, South Africa and Kenya already among the leading markets, the company also expects to extend its customer base in many more markets where it is seeing a steady increase in trading volumes on the continent like Zambia and Uganda. African trading volume on the Paxful platform grew by over 57% in 2019 and the company hopes to accelerate trading volumes further this year.

Reflecting on the rapid growth of the blockchain and bitcoin sector, research from the professional networking platform Linkedin shows that blockchain tops the list of most in-demand hard skills for 2020. For this reason, another important consideration for Paxful is engaging talent in Africa. The company believes that Africa can become a leader in bitcoin skills development. Paxful hopes to expand African participation in the company’s Global Peer Programme – an initiative to encourage bitcoin users around the world to educate each other about the opportunities offered by the crypto-economy.

“We are very, very bullish on Africa and believe it is critical to the future of the crypto-economy overall. While many parts of the developed world are fixated on speculative activity in the crypto economy, people in Africa are teaching us about the true use cases of bitcoin and the opportunity it presents for greater financial inclusion of the under-banked. As a company, we want to do what we can to ensure that our platform continues to be a bridge to the global economy for our customers” Says Artur Schaback, Co-Founder and COO of Paxful.

Expanding partnerships

In December 2019, Paxful and Binance, the leading global cryptocurrency exchange by trading volume and users, announced its strategic partnership in which Paxful serves as a fiat-to-cryptocurrency on-ramp for Binance, providing numerous payment methods for purchasing Bitcoin to Binance’s global user base.

Paxful has also partnered with many other strategic players in the crypto economy – including the likes of BitMart, BSpin, AirTM, and CoinLogiq – who offer a variety of complementary services to make it as possible for its users to take advantage of the power of P2P finance. Paxful hopes to work with African partners as well.

“Africa has tremendous potential and partnerships are essential in this pivotal time within the cryptocurrency industry. We are actively looking to join forces with African-born crypto players who share our passion and vision for the global crypto-economy and to join our efforts in bringing bitcoin to the unbanked masses across the continent to fundamentally help alleviate poverty, boost economies and create jobs,” says Ray Youssef, CEO and co-founder of Paxful.

Making education and social good a priority

“With bitcoin’s original mission of financial inclusion in mind, Paxful is committed to reaching as many people as possible to help them better understand the opportunities presented by the crypto-economy. With this in mind, education and social development will always be a priority for Paxful,” adds Youssef.

Also Read: Building Sustainable and Profitable Enterprises: An Interview with David Owumi, Founder of VisionCTRL Africa

Last year, Paxful undertook an education drive focused on Universities. Beginning with Universities in East and Southern Africa, the initiative has reached over 1000 youths. The education workshops provided key, practical insights to the true use cases of Bitcoin, how to avoid falling prey to bad actors in the crypto-space and served to counter the over-emphasis on Bitcoin speculation. This type of education will continue to reach the youth.

In the same year, the company also launched the aforementioned Paxful Peer Program, a platform encouraging users to educate and support each other as they navigate the bitcoin-economy. The Peer Program was trialed in South Africa and has been extended to include many other markets on the continent and Asia.  

To support grassroots education, Paxful will continue to invest in its #BuiltWithBitcoin initiative which has demonstrated how the cryptocurrency community can contribute to social good. Established in 2017, the initiative had raised over R3 million for charities across Africa and the Middle East by 2019.

In January 2020, the company announced that they will be building a third school in its 100-school initiative to bring quality education centers to emerging countries throughout Africa. The third school, which will come fully equipped with a state-of-the-art water well system, will be built in Machakos County, Kenya for children ages 3-6 years old and will kick off with over R400,000 donation from Paxful. The first 2 schools were built in Rwanda.

Paxful

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Future Females – Own Your Income Summit

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“The more you learn, the more you earn.” Future Females is facilitating the growth of entrepreneurs globally, by hosting a ​ FREE virtual 2-day ‘Own Your Income’ summit ​ on Tuesday 21st and Wednesday 22nd April, with experts from all around the world sharing their knowledge and expertise about how to build your business to be in control of your income.

In a study conducted within the ​Future Females​ community at the end of last year, it was found that 68% of entrepreneurs have designed their business as a means to help them achieve financial freedom. Being in control of your income and financial wellness is a key component of empowerment, and empowerment plays a very critical role in the development of society. As Kofi Annan says, “there is no better tool for development than the empowerment of women”. The Future Females mission is to empower and facilitate the entrepreneurs in their community, by increasing the number and success of female entrepreneurs, globally.

The world is in a period of change, and it is times such as this that demonstrate the importance of adaptability, flexibility, and creativity when building a business. Future Females have created the upcoming summit​ #OwnYourIncome​, as an opportunity for thousands of entrepreneurs to learn from the best. There will be 10 global experts lined up to share their tips and insights about how to pivot, stay relevant, adapt where necessary, recover from setbacks, and, most importantly, design your business to give you control over your own income, allowing you to achieve financial freedom, even in times of crisis.

Also Read: Women in Tech: Interview With Ellen Fischat, Founder Story Room and Inspiring Fifty SA Ambassador

The Summit

The summit will run over the course of 2 days, Tuesday 21st April and Wednesday 22nd. During these two days interviews, masterclasses, teaching sessions, live Q&A’s and bonus content from our experts will be released online and into the private ​Facebook Group​. The summit is free to attend and all content will be accessed virtually.

The summit aims to offer 

– Access to some of the leading experts (nationally and) globally

– Free resources to African as well as international entrepreneurs alike

– Half of our speakers come from an African context (with businesses mainly in South Africa)

– The summit is easily accessible over your phone, we will share video and audio files to comply WITH any wifi data set up

– The representation of female experts and speakers is being facilitated

– The summit acts as a big forum for entrepreneurs to connect and share ideas and solutions, the discussion, live interviews and Q&As will give attendees the chance to actively participate.

The Experts

  • Lelemba Phiri​, ​Principal and Gender-lens Angel Investor at ​Africa Trust Group.
  • Jonathan Kalan​, co-founder & CEO of ​Unsettled.
  • Sam Beckbessinger​, author of ​How To Manage Your Money Like A F*cking Grownup​.
  • Adam Duxbury​, co-founder of ​Granadilla​ and Chief of Staff at ​Yoco.
  • Eitan Stern​, Director and Lawyer at ​Legalese.
  • Kerstin Bock​, co-founder & CEO of ​Openers​, organiser ​Tech Open Air.
  • Jos Dirkx​, ​TEDx speaker & co-founder ​Beenova AI.
  • Sara Kolata​, Architect, co-founder & Creative Director of ​KRAFT Digital.
  • David Noel​, co-founder & podcast co-host of ​Role Models podcast.
  • Lauren Dallas​, co-founder & CEO of ​Future Females Plus more to be released over the next week.

The Outcome

A community of entrepreneurs, connected together, learning about how they can survive, adapt and be ready for the future. This is the start of future-proofing your business.

“​For us, our goal is to provide thousands of women around the world with the opportunity to learn from those who have gone before. We have built strong, collaborative partnerships with each of our experts, and we know just how beneficial their teachings and insights will be for our community. We are so excited to host this summit, and we are choosing to focus on the positives we can draw out of this current global crisis, rather than let the negatives hold us back. This is our chance, as entrepreneurs, to shape the future – and we can’t wait for what’s to come.” – Lauren Dallas, co-founder of Future Females.

Secure your free seat for the #OwnYourIncome

Click here to sign up Future Females – Own Your Income Summit

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Apply: The African Impact Initiative Challenge

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Speakers at the last African Impact conference at University of Toronto (January 2020). Right to left: Wisdom Tettey (Vice President, University of Toronto), Efosa Obano (Founder, AII), OlutoyinOyelade (Founder, CASA foundation), Sandra Chuma (Founder, Ndini Media), EhiAdemabo (Mindset Surgeon), ObidimmaEzezika (Assistant prof, University of Toronto).

The African Impact Initiative is a non-profit organization with a mission of developing the African community through its youth. Formed and supported at the University of Toronto since 2016, their projects have helped to provide African youth in Canada with better career opportunities and core skills. They also provide a platform for them to learn from experienced professionals, through their workshops and conferences.

As the organization grew, they began to tackle challenges back home as well through community development projects. Their first project in Southern Nigeria was focused on improving healthcare outcomes for the IkotEko Ebon rural community. In partnership with Cottage Hospital and the Akwa Ibom government, they were able to increase the number of people in that village who received quality care by revamping their community hospital with equipment to address their pressing health issues. They also held a campaign, to educate the community members on what was now available in their local dialect.

Members of the African Impact Initiative Healthcare team at the Cottage Hospital in Akwa Ibom (December 2018)

While successful, this project revealed some of the challenges organizations face when trying to bring in solutions from outside. Sustainability was proving hard, due to travel costs and communication gaps. It was clear that they couldn’t replicate this model in different African communities as easily as they had thought. This was what motivated their team to come up with the African Impact Challenge.

The goal of the African Impact Challenge is to enable sustainable development locally across the continent, by investing in youth and empowering them to solve identified problems through technology driven impact entrepreneurship. They are essentially trying to empower African youth to tackle their own challenges locally with technology. Guided by The Prosperity Paradox, it will be run in different African countries over the next 5 years. The target is to successfully kick-start 10 innovations aligned with the selection criteria by 2025. African Impact Initiative will be doing this by providing capital, resources and mentorship necessary to begin from scratch with a $100,000 CAD fund.

Also Read: Women in Tech: Interview With Ellen Fischat, Founder Story Room and Inspiring Fifty SA Ambassador

The first version is taking place in Ghana, and they have partnered with Ashesi University, Ghana Technology University & University of Development Studies to rollout the applications. It is open to students in other universities as well. They have also partnered with BaseCamp Initiative to provide the co-creation space. Selected teams will participate in a paid summer incubator, which will bring their ideas to life and make them market ready;  with funding of up to 20000 GHS available per team.

All Ghanaian youth are welcome to apply! This year’s challenge application is open until April 10th at 11:59PM GMT. Please check out the criteria and apply here: https://www.africanimpact.ca/the-african-impact-challenge

Pictures from the visit to Ghana in December 2019

The founder of African Impact Initiative (Efosa Obano) with the founder of BaseCamp Initiative (SunitaKragbe)
The founder of African Impact Initiative (Efosa Obano) with the GTUC office of research services and innovation faculty (Prince Loko and Mabel Amachie) 

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10 Inspiring Women Share Their Thoughts on IWD 2020 Each for Equal

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International Women’s Day (IWD) is an annual event which holds every March 8 to celebrate women’s achievements, spread the message of women empowerment and gender equality across the world. The theme for International Women’s Women Day 2020 is, I am Generation Equality: Realizing Women’s Rights. Below, 10 inspiring African women in business and social ecosystems shared their thoughts with Alaba Ayinuola on the progress made towards achieving gender equality.

Elisabeth Moreno, Vice President and Managing Director at HP: All Humans beings are born free and equal in dignity and rights …But some Humans are more equal than others. That’s a fact. And an issue for most of the reasonable people in this planet. Whether you’re born in the North or the South, in an Urban or Rural area, Black or White, Girl or Boy, you will not have access to the same equality. Read More

Oyinda Bishi - Marketing Professional and D&I advocate.
Oyinda Bishi – Marketing Professional and D&I advocate.

Oyinda Bishi – Marketing Professional and D&I advocate: As a strong advocate for women in any sphere of life, I grew up in Nigeria in a family of many brothers – I was very lucky to have a father who was an unashamed feminist that believed people generally should be free to chart their course in life and women especially should be able to decide and undecide what their life should look like and that has fueled my passion and self-belief to no end. Now as a mother of 3 daughters – that grit is amplified a million-fold especially in the world today. Read More

Cynthia Musafili Wright, A speaker, Author, Entrepreneur, Aged Care Clinical Consultant and Philanthropist: – Leading with inordinate authenticity as a substitute for the adoption of personalities basing on other’s expectations might crack more governance potentiality in women and, at the same time, hasten their influences within their respective organizations, according to the United Nations. If women are not authentic in society and at the same time are not recognized, appreciated, and respected,most would want to do what is required of them to perform and succeed in most departments. Read More

Oyetola Oduyemi, Executive Director at tengvoX Consulting: Each for equal to me means – Acceptance. Fairness. Partnership. Support. Giving opportunities along lines of competence, skills, interest, desire, ability. Not gender or race or tribe, or any divides irrelevant, or that should be irrelevant, to the pivotal task of nation-building that we have at hand. Read More

Bukola Bankole Partner, TNP: International Women’s Day is a day of reflection and celebration of everything we’ve achieved especially over the past century. This year’s theme #EachForEqual is about equality. There has been an uprising in recent times about the need for constructive inclusiveness of women in all aspects of human life. Read More

Stha Mavundla is a Speaker, Scientist, Life Coach and Educator at First Leap China

“The #EachForEqual movement is a powerful one in the fight against gender inequality. I admire the work of companies and organisations that have taken a stand against inequality, especially in the workplace. Furthermore, I believe that there is a lot more work that needs to be done in reshaping the minds of women. A woman can be the CEO of a large company and still feel as though her opinion is as undervalued as entry-level staff. She simply cannot be a powerful force to be reckoned with if she feels unworthy. I am passionate about being an agent of change in this department. I believe that there should be an investment in the personal development of these women together with high-quality leadership development training. Visit: Stha Mavundla

Christine Ntim – Chief Marketing Officer at Global Startup Ecosystem 

The #EachForEqual campaign is raising a new narrative on gender equality. No more movements filled with the voices of only female voices demanding equality. This is not a women only problem- this is a societal problem. More men are now seeing that limited opportunities for women don’t just hurt their wives, daughters and mothers but also directly limit the possibilities of our sons, fathers and husbands.Thus equality and inclusivity is not an option but a necessity. 

Amira Kamel – Child Abuse Prevention Ambassador, Business Mentor and Educator

Strong women do not have attitudes. They have standards and boundaries. Professional women are not trying to impress anyone. They are doing their jobs in a professional way. Self-confident women are not conceited. They have self-esteem as they believe in and acknowledge their own abilities. Women are unique because they were created that way. This post would never be complete without adding “and men” after “women“ as they are our partners in life. An equal world is an enabled world.

Serah Odende – Founder Tragital and African Harvesters

The International Women’s Day celebration this year theme says it all, equal opportunities especially for both male and female in the agribusiness value chain. Reduced marginalisation of women in agriculture ecosystem, and equal access to funding for female founders of agribusiness among others.

Emmaline DateyLeadership and Personal Growth Coach | HR Manager EIB Network | Founder ICS Africa

This year’s International Women’s Day Theme, Each for Equal, emphasizes yet on how important it is to protect the rights of women as stakeholders of societal, economic, and national growth.

As the theme rightly indicates, an equal world is an enabled world.Both parties, male and female, have the potency to make positive global and local change according to each one’s capability and purpose. We all have equalcollective power to change the narrative by challengingstereotypes, fighting bias, broadening perceptions, improving situations and celebrating women’s achievements.

I believe that even though we are celebrating women who have achieved in the areas of politics, business, health, sports, science and technology, entrepreneurship, and education, there is still more room for improvement. I am particularly excited about the inclusion of our young women in STEM projects. I yearn to see projects that will accelerate the each for equal movement for more women in politics, financial inclusion, and access to business opportunities.

Let’s all be #EachforEqual.

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

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