Accelerating the Future...
- Award Categories: Economy
- Award Year: 2019
- Nominee URL: https://www.mimi.money
Cost of remittances in Africa currently at as high as 14% to an average Global rate of 7% of the remittance amount.
The cost of remittances in Africa currently at as high as 14% to an average Global rate of 7% of the remittance amount.
Bundled Blockchain and Cryptocurrency solution that can easily be used by a laymen.
Creating awareness and getting people to actually buy-in .
Africa has 1.2 billion people and more mobile connected phones than USA & Europe combined, 80% of smart phones run by Android. Africa's mobile money industry is processing over $1 billion on peak days and its FinTech industry or Wallet/Transfers & Payment processing industry worth over $200 billion shared by small regional firms with incompatible software with the rest of the world. Africa received $64 billion in remittances in 2016, over $70 billion in 2017 according to World Bank and steadily growing while at the same time being the most expensive remittances destination in the World at high rates of 14%, & an average of 10% compared to 7% of the remittance value for the rest of the World. Upon commercial integration MiMi will have access to 170 million mobile money wallets in 15 African countries for the start.