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Paxful sees more Young Women in Africa turn to Bitcoin amidst Pandemic

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Paxful’s newly appointed Head of Middle East and Africa, Tugba Abadan (Source: Paxful/Jake Farra)

Paxful believes women are playing a key role in crypto adoption and success in Africa

The COVID-19 pandemic has strained the global economy and put millions of people under financial stress. Understandably, people from all walks of life started looking for alternative income streams. In honour of Women’s Month this August, a global peer-to-peer bitcoin marketplace, Paxful, (Paxful.com) is shining a spotlight on women who have started successful side hustles powered by bitcoin.

Not only are these side jobs providing women with additional income, they are also giving individuals an opportunity to develop new skills in the bitcoin and blockchain space. Blockchain skills are in high demand internationally and may unlock new career opportunities or set the ground for running a successful business in the future.

Beyond speculative activities, bitcoin already drives a whole range of entrepreneurial ventures including arbitrageremittance, e-commerce and educational projects, to name a few. Paxful is committed to encouraging more women to consider pursuing opportunities in bitcoin and blockchain; the company has rolled out a number of educational programs globally to educate more people about the crypto industry.

Realising entrepreneurial potential

report released by CoinMarketCap in April revealed that the number of women in the cryptocurrency industry increased by 43.24% in the first quarter of 2020. In addition, a study published in December 2019 by Bitcoin (BTC) fund operator, Grayscale, showed that 43% of investors interested in Bitcoin are women (13% up from 2018), with the number actively growing. “Our sector can still do better to attract more female blockchain professionals and entrepreneurs. At Paxful, nearly 40% of our global workforce is female and we continuously keep our eyes out for more female collaborators, community builders and problem solvers,” says Tugba Abadan, Paxful’s newly appointed Head of Middle East and Africa.

Usage of the Paxful platform is soaring, and the company has also witnessed a steady increase in the number of women participating in its entrepreneurship program, the Paxful Peer Program. The program helps crypto enthusiasts become their own bosses, and women have been topping the list of best performers since it’s launch in November 2019.

Yvonne Kagondu, Paxful’s Community Coordinator in Kenya, says: “It’s not easy to be a young African at the moment. Unfortunately, many of us suffer the consequences of high levels of unemployment and poverty. It’s very important to be on the lookout for as many opportunities as possible and find one that suits you best. I found blockchain technology intriguing and decided to focus on bitcoin, which eventually led me to mentoring other young female professionals and fellow small business owners. I feel so fortunate to be able to help and inspire fellow Africans to take control of their finances through bitcoin.”

Paxful’s Peer Program participant Nkhensani Nyalungu is a Bachelor of Commerce student at the University of Johannesburg. She shares her experience with the program: “I had never considered setting up a tech-related business until I learnt more about the opportunities in the blockchain industry. Once I became familiar with the technology, it was quite easy to dive into the crypto world. I am extremely passionate about educating my peers about the crypto-economy, as I feel I’m carving the path towards economic freedom for our communities.”

Also Read: Chidi Nwaogu: Multi Award-Winning Entrepreneur Launches Global Fellowship Program for Aspiring And Early-Stage Entrepreneurs

Victoria Chauke, a student at Johannesburg’s Wits University, used to work as a part-time promoter before she started her bitcoin side-hustle to earn some extra cash, “Trading bitcoin was a better option for me as I could learn on the go; it’s much more flexible as I can make money while at home, in-between classes or while busy with other commitments.”

She adds: “I believe we need a lot more women in the bitcoin community. From my experience, I think we can operate as effectively as men, if not better, in the blockchain ecosystem”.

Entrepreneurial aspirations in a time of crisis

According to a study, an estimated one in three working South Africans have a side job to bring in extra income. The COVID-19 lockdown has put millions of people under challenging circumstances as they faced losses of jobs and income opportunities. The pandemic pushed people to look for alternative income sources, so the interest in crypto and bitcoin entrepreneurship grew rapidly, which Paxful confirms as the number of platform users skyrocketed since the beginning of 2020. As contactless payments are encouraged, people are opting for non-cash in-person trades using bitcoin.

Abadan concludes: “We’re very excited to see how the number of trades on Paxful from South African users have grown by more than 36% in Q2 of this year. Blockchain technology has created a new frontier for the global economy, and I believe that the industry offers plenty of opportunities to achieve greater economic independence”

Source: Paxful

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Press Release

Journey Wellness, an AI-Enabled, Personalised Healthcare Platform Launches in South Africa

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Journey Wellness Co-Founders, Dr. Jacques Ludik and Laura Wayburne (Image: Nomsa Mdhluli)

Journey Wellness, an AI-Enabled, Personalised Healthcare Platform set to Revolutionize Wellness & Healthcare in South Africa. The Platform will transform business employee benefits and medical schemes’ approach to offering wellness for employees and medical aid members.

A revolutionary new approach to offering Ultra-Personalised, Artificial Intelligence-Enabled Healthcare from tech-trendsetting company Cortex Logic is set to transform the way medical aid schemes, consumers and corporates offering employee benefits as part of their EAP (Employee Assistance Programmes) view their current healthcare offering.

The Journey Wellness platform is perfectly timed to coincide with the current global shift in Healthcare, as the focus moves from a disease-management model to one that encourages optimum health and disease-avoidance, targeting younger as well as existing members with a holistic, pro-active offering.

Corporates and medical schemes are realising that they need to offer their employees and members wellness and EAP benefits that move beyond expensive, reactive, chemical care to cost-effective, proactive preventative primary care.

“Globally, an ever-increasing portion of healthcare spend and focus is shifting to promote wellness and wellbeing, rather than responding to illness,” says Lara Wayburne, a respected Healthcare Actuary consulting to Cortex Logic and part of the development team of the Journey Wellness Platform.

“Healthcare analysts predict that over the coming decade the focus on wellness and wellbeing can reduce overall healthcare costs by as much as 30%.”

“Journey Wellness enables that future by empowering and engaging consumers to better understand the drivers that impact their health and therefore be more actively involved in managing their own health. By doing so, the Journey Wellness ecosystem encourages positive health seeking behaviour, promoting better physical and mental health,” says Wayburne.

The driving force behind Journey Wellness, Dr Jacques Ludik, Founder and CEO of Cortex Logic, who has also recently written a book called ‘Democratizing Artificial Intelligence to Benefit Everyone’, says that the Journey Wellness platform will provide more healthcare, to more people, faster.

“Essentially, Journey is a cost-effective, pro-active, personalised and engaged AI health companion that will improve health outcomes for everyone involved – the medical scheme provider, employers, employees, healthcare providers and ultimately the end-user consumer who will benefit from personalised, proactive healthcare with the added benefits of cost savings all-round,” says Dr Ludik.

Journey Wellness offers a number of benefits for Medical Schemes, Corporates and End-Users:

Employer Groups and Medical Scheme providers will benefit from the cost savings inherent in moving from expensive, reactive, chemical care to cost-effective, proactive preventative primary care for their members and employees. This will result in increased productivity, increased employee engagement, reduced absenteeism and cost-savings to all involved.

Healthcare Providers will benefit from having a 360-degree view of their patients that will improve wellness proactively without costly chemical intervention, usually at the reactive stage and will also empower patients with continuous self-care.

And, Consumers will benefit from a Holistic Wellness Solution and the reduced need for expensive healthcare options, improved wellbeing, rewards for engagement and ultimately having a personalised wellness coach on hand at all times to help them understand their health status and associated risks and better manage their health and improve quality of life.

“Overall, it’s a win-win scenario in which technology, data and analytics foster a collaborative and progressive healthcare environment, creating an ecosystem for improved wellbeing one step at a time that benefits everyone,” says Wayburne.

Journey Wellness has also made an exciting announcement around making the Platform’s Mental Health Module available for free to users from 1 September 2021.

“We realise that the current state of affairs globally, and in South Africa in particular, with pandemic lockdowns and economic uncertainty foremost on our minds, places an enormous amount of pressure on people. So, we’re offering free access to our Mental Health Module to users, where they can access an AI-enabled mental health companion 24/7,” says Dr Ludik.

The Journey Wellness Demo Platform for Corporate Employers and Medical Schemes is available at www.journeywellness.co.za, and for Consumers, the User App is available as a free download for Android and iOS devices at Google Play and App Store. Medical schemes and Employers looking to offer Journey Wellness to their members can interact directly with Journey Wellness by requesting a demo via the website.

 

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Investment

Chaka secures $1.5M pre-seed round to power digital investments and wealth management opportunities across Africa

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Chaka CEO, Tosin Osibodu at a press briefing (Image & Press Release: Chaka)

Chaka is thrilled to announce its $1.5M pre-seed funding round led by Breyer Capital, a global venture firm focused on catalyzing growth in high-impact companies like Spotify, Facebook, and now, Chaka. Other participants in the round are 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures.

Chaka is a technology solutions company on a mission to enable every business and person in Africa to access borderless digital investment and wealth management opportunities. The team combines investment expertise and best-in-class technology to provide reliable digital Investing, trading and wealth management solutions that are easy-to-use and easy-to-integrate.

Their mission is to enable digital border-less investing for African businesses and individuals. They’re powering the digital investment landscape in Africa through partnerships with asset managers, financial technology firms, and regulators with whom we have a shared mission. We achieve this by providing trading solutions that are easy to use and easy to integrate.

With this capital, they will focus on the goals to build a roster of formidable partners and accelerate expansion to other markets within West Africa. This investment also enables them to hire top talent and integrate more advanced functionalities into our investment and wealth management solutions.

Jim Breyer, CEO of Breyer Capital, shared his view on this investment and it illustrates their shared vision: “We are proud to align ourselves with a company that is leveling the investment playing field for Nigerians (and Africans at large). We’re confident in the value Chaka provides through its digital tools, and we look forward to playing our part in supporting Tosin, Bo, Olaolu, and the Chaka team.”

This is a significant milestone for Chaka and could not have come this far without their users, partners, early investors, and a talented, achieving team of Champions.

They see digital investments as a means to boost economic transformation in Africa, and we’re very keen to bring this vision to life.

 

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Manufacturing

Emmanuel Penneh set to lead the Ghanaian team that will re-assemble the first Nissan Navara made in Ghana

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Emmanuel Penneh (Image: Lusawovana Pius- edelman) 

Emmanuel Penneh arrived back in Accra this week, ready to start the next phase of a journey that’s taken three years so far and still has an intensive eight months to run. On Thursday 3 June 2021, the married 44-year-old father of three graduated with his team of 11 Ghanaians from an intense eight-week course at Nissan South Africa’s Rosslyn manufacturing plant outside Pretoria. That was just the first step for them. Now the hard work begins, getting Ghana’s brand-new Nissan assembly plant in Tema, outside Accra, ready to begin re-assembling the first ever Nissan Navaras to be built in Africa early in the New Year.

The graduation is a critical milestone in a process that began back in 2018 with the signing of the landmark Memorandum of Understanding between Nissan and the Government of Ghana, followed by the drafting and promulgation of Ghana’s automotive development policy the following year and then the appointment of Japan Motors Trading Company (JMTC), as Nissan’s preferred partner last year to ensure that the new facility will be 100% Ghana owned and run.

Penneh is up for the challenge. Speaking at the special graduation ceremony held at the Rosslyn, SKD plant, he said he and his team were proud and honoured, excited and delighted. “This is a historic evolution for Nissan Ghana, Nissan South Africa and Nissan worldwide. This is the plant where the Nissan Navara is being made for the first time in Africa, by Africans for Africa, now we are going home to re-assemble the first Navara made in Ghana for Ghana by Ghanaians!”

Penneh will be the plant manager. It’s a feather in the cap for the 10-year JMTC veteran. Before being approached to lead the team, Penneh was service co-ordinator for the group’s aftersales operations, overseeing five workshops across Ghana. He’s been in the automotive industry for 14 years, with four years at Man Truck Ghana before he joined JMTC.

“It’s exciting,” he says, “it gives a new dimension to my career. After concentrating on the after sales aspect, I’m now coming into the industry that actually builds the vehicles.”

The eight-week training that the team underwent in South Africa had been gruelling, he said, they had no idea what to expect. “It was challenging coming fresh into this industry and discovering so many processes and rules and mastering them, but it’s been exciting.”

He’s exceptionally proud of the team he led to South Africa and the way they’ve conducted themselves. “This (the creation of a Nissan assembly plant in Ghana) is going to be a game changer for ourselves, but also for our country, creating jobs, upskilling people and creating opportunities for local brand ownership.”

 

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