Elizabeth is the Founder and Ceo and BitPesa. And the one message that came through found and clear was Hustle.
Building a blockchain based business does not have a business model. It’s new and groundbreaking. And you have to break down new doors and new ways of doing things.
Elizabeth deep fives into BitPesa. She gave us a great overview of the challenges that she faced getting Bitpesa going. She also talks to us about where she is taking the business.
But What Is BitPesa?
BitPesa is a Foreign Exchange and Payment platform. They focus on what’s known as a Frontier Market.
A Frontier Market is a type of developing country. It that’s more developed than the least developing countries. But is too small to be generally considered an emerging market.
BitPesa was the first company in the world to connect bitcoin to mobile money. This happened in 2013, originally in Kenya. In 2015 BitPesa received a license from the UK’s Financial Conduct Authority. They now facilitate payments directly into G20 currencies.
This kind of growth requires hustle, hard work, clear focus and an amazing team that makes this happen.
The problem that BitPesa is Solving
Trading in African currencies makes it difficult to do business in Africa. BitPessa is a B2B platform and they offer a hybrid model of traditional and crypto- trading. They focus on making it a lot easier to do business in African currencies by increasing liquidity and reducing the cost.
This allows businesses to take control of their payments at a lower cost and greater speed. This includes paying staff, to suppliers or service providers or to collect monies from African customers.