Kenya’s Safi Protocol is a blockchain-based platform that bridges the hole between the decentralised finance (DeFi) ecosystem and certified real-world clear power prospects in Africa.
Based in 2022, Safi Protocol facilitates seamless entry to wash power options for people and companies whereas providing an modern funding avenue for DeFi individuals.
“Primarily, we join people seeking to make investments their cryptocurrency property with clear power tasks in want of funding, making a win-win scenario that promotes sustainability and monetary progress,” co-founder and head of operations George Mosomi informed Disrupt Africa.
The concept behind the corporate emerged from a shared ardour amongst the founding workforce for sustainability, carbon finance, and blockchain expertise.
“We recognized a major hole out there the place clear power tasks, notably in Africa, usually battle to safe funding as a result of lack of entry to world capital markets. Conventional financing strategies are sometimes cumbersome and time-consuming,” mentioned Mosomi.
“Our platform addresses this by connecting these tasks with DeFi buyers who’re on the lookout for alternatives past conventional property. Whereas there could also be opponents within the DeFi and clear power areas, Safi Protocol’s distinctive mix of each sectors units us aside.”
Safi Protocol initially bootstrapped its approach by the MVP, after which performed a profitable pre-seed spherical from its early advisors.
“This capital has been instrumental in creating our platform and increasing our attain to 4 international locations,” mentioned Mosomi, who mentioned early uptake of Safi Protocol has been promising.
“Since our launch, we’ve seen rising curiosity from each cryptocurrency buyers and clear power tasks. We’ve onboarded 50 clear power tasks onto our platform in lower than one 12 months, and our consumer base has steadily elevated. The response from our preliminary customers has been optimistic, and we’re actively engaged on enhancing the platform primarily based on their suggestions,” he mentioned.
At the moment, Safi Protocol is working in Kenya, Uganda, South Africa and Nigeria.
“Our purpose is to ascertain a robust presence in these markets and construct partnerships with native clear power tasks. By way of enlargement, we’ve plans to steadily prolong our attain to different African international locations with Zambia, Malawi and Ghana being our high priorities and finally discover alternatives in different areas with comparable power challenges and a rising curiosity in DeFi,” mentioned Mosomi.
Safi Protocol generates income by transaction charges and different value-added companies on its platform, corresponding to asset administration and collateralisation of sustainability property.
“This permits customers to increase their real-world property to entry to different monetary companies which might have in any other case been out of attain. Whereas it’s essential to notice that as a comparatively new enterprise, our income streams are steadily rising as we onboard extra customers and tasks onto our platform. Now we have a transparent path to profitability and anticipate reaching that profitability in 2024 as our consumer base continues to develop,” Mosomi mentioned.
