About

Pesabase is the answer to financial simplification and inclusion that Africa badly needs.

With more than 75% unbanked using 50
different currencies and regulatory structures across the continent, remittance internally and to the continent still remains a major challenge.

We are building

a digital ecosystem that provides tokenized currencies, both crypto and national fiat based ones

01.

Pesabase aims to provide simplified financial services across countries, that will improve the cost of FX between all currencies that native Africans have to deal with.

02.

We also believe that cheap, digital payment ecosystem are nearly non-existent and that exposure to failing currencies is extremely high. In this day and age, no one should lose all their wealth due to a mismanaged currency and entrenched corruption.

03.

Pesabase was conceptualized to leverage the ethereum based OmiseGo (OMG) blockchain, along with broad access to the internet and mobile technology in Africa, to provide a platform where people and businesses have access to secure, low-cost and real-time financial services.

Stats on Africa

The following are some interesting facts about Africa as a continent

Continent

01.

Population of 1.2 Billion people and growing by 30 to 40 million annually

28 of the poorest countries in the world are in Africa

Africa has the youngest population in the world, 200 million age - 15 to 24 years.

1 in 7 Africans receive remittances from friends and family abroad

Africa is the world’s second fastest growing region after Asia

Remittance

02.
Africa receives more than USD 40 Billion annually in remittance flows
Over 30 to 40 million Africans live overseas and remit money back
75% of remittances are conducted ‘informally’, unaccounted for, and are hard-to-track, implying up to USD 160Billion is remitted annually
Average amount remitted is usually 200 USD monthly
Cost of remittances is often greater than 10%
Intra-african remittance is costly, often higher than 20%

Banking/
Micro-finance/
Mobile Wallets

03.
Only 25% of this 1.2 Billion people have access to formal banking/financial services.
Mpesa, with over 25 Million registered users, processes over $28 billion annually.
Smartphone users nearly doubled in 2 years to reach 226 Million users
Bitcoin costs 10% above the global market price in spite of growing demand.

Crypto-currency

04.
Knowledge of crypto-currencies improving rapidly as the industry grows worldwide

Subscribe to be first to know about ongoing work on the project