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11 Dec, 7 tweets, 3 min read
💯 A great source for crypto African products / features from @TheDFSLab ‘s blockchain bootcamp cohort 1

🤩 Here is a short list of my favorite picks and why

medium.com/dfs-lab/result…
✅ @joinstax - offline crypto and DeFi / crypto assets on USSD with SIM card security (key pairs like native crypto)

@bmlyon you have a great foundation for crypto !
✅ Bonafide a wallet that lets you save and win prizes weekly in dollars

Great spin on fintech savings/investments/yield products. weaving games and fun/ social with financial instruments. Crypto natively enables fun programming

A great add to African consumer fintech
✅ @fonbnk1 😍

Fonbnk is a mobile DeFi connecting billions of prepaid mobile subscribers in the global unbanked/underbanked south to the global digital economy/ metaverse / play to earn

*i am an advisor at Fonbnk
🤝 Investment thesis driving crypto startups in Africa
🤤 VC expectations
🤣 No wonder all the African tech VCs are moving into crypto web3 VC.

Asemota
Echo VC
...
...

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More from @pesa_africa

Kioneki Profile picture
12 Dec
⚡️Crypto regulations are coming to key African markets THREAD

⬇️ What follows explains why I expect a shift in balance in crypto transactions - from decentralized 🔜 centralized - backed by findings
❌ In the past 5 - 7 years, banking and mobile money gateway restrictions stifled certain crypto business models at the benefit of others Image
🚀 P2p emerged the winner, reaping all the benefits of Central Bank sanctions. Volumes for Africa moved to Paxful, localbitcoins, binance p2p and others as a gateway into bitcoin and stablecoins. Image
Read 22 tweets
Kioneki Profile picture
24 Oct
What's next in web 3?
Africa 🌍

Africa was never part of all the technology narratives that shaped the web & internet pre-Android & smartphones

That's about to change now that Africans too are part of the web.

Web3 has a place for Africa to participate and shape the future
Imagine all the bias built into the web & internet infrastructure b/c Africans were never co-participants in designing the web?
An example is online wallet like PayPal versus Mpesa prepaid mobile wallet

African users often report frozen funds when receiving $1000 via Paypal yet in Kenya, Mpesa users can send and receive upto $3000 per day

Read 7 tweets
Kioneki Profile picture
6 Oct
How much funding is going into African Crypto & Blockchain startups?

Looks like crazy volumes of VC capital is flowing into Crypto blockchain startups in the rest of the world apart from Africa...
My guess is financial services related use cases rank high on the list: payments, cross border, trading & speculation etc

Central Banking regulations is still the bottleneck b/c of formal fiat rails which caps possible products and impedes onboarding
Some options

1) old fintechs pivot into crypto products eg Chipper Cash, Stax, Eversend
2) new crypto/blockchain startups emerge w/ fresh rounds of funding
3) old African crypto startups raise more money for new products/expansion/scaling
4) African banks join crypto hype train
Read 7 tweets
Kioneki Profile picture
5 Oct
“A recent NielsenIQ study revealed that nearly 7 in 10 consumers around the world have changed the way they buy categories and brands as a result of the COVID 19 pandemic.”
“A majority of consumers now find themselves with less money to spend and an abundance of caution around spending it. the study highlights that 73% of consumers have experienced a recent shift in their personal financial situations, to varying degrees, since September of 2020”
“consumer groups are reevaluating what’s essential to them and their families. They are making tough decisions about what categories can be abandoned and what compromises can be made even within a category.”
Read 5 tweets
Kioneki Profile picture
4 Oct
I cant help obsessing over @fonbnk1 The FIRST
DeFi App that converts prepaid mobile airtime credits into money for mobile users in Africa and Latin America #unlockyourpotential Image
I learnt about @fonbnk1 from my time at the just ended Stellar DFS lab African blockchain bootcamp. I was paired up with @cduffus as his coach and mentor Image
Close to 8 billion registered prepaid airtime SIM cards w/ more adoption that mobile phones, smartphones, crypto wallets, mobile money wallets and bank accounts

Prepaid airtime SIM cards are more universal than any other technology and digital currency
Read 12 tweets
Kioneki Profile picture
21 Sep
European Football NFT Platform Sorare Raises $680M Series B

Sorare says it’s traded over $150 million worth of digital cards on its platform since January and currently has over 600,000 registered users coindesk.com/business/2021/…
Sharing this b/c Africa is a huge market for sport betting millions of users accessing bets via USSD, Smartphone App, Web App, SMS and Agent services

Betting companies are succesful post revenue technology startups b/t few will admit it
Mobile Money Top Payment Categories, Sport betting makes tye cut at top 4 in Kenya, Ghana, Uganda, Nigeria
Read 11 tweets

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