Microlending and DeFi dApps targeted specifically to the African context & based on historical cultural norms will accelerate user adoption

Businesses are confident to submit well-researched proposals that address the African micro-lending and decentralized finance context

• Submitted proposals well researched, viable and addresses traditional African financial cultural norms and practices
• 3 or more successfully funded micro-lending and Defi dApp launched within the next 3 funding rounds
• Minimum 50% user adoption in funded proposal's target market within 2 years

Sources:
1. Why conventional banking is not working for sub-Saharan Africa: https://www.imf.org/external/pubs/ft/wp/2004/wp0455.pdf
2. How mobile money and other Startups are solving the African banking crises although financial inclusion remains low: https://www.researchgate.net/publication/316847980_The_Rise_of_Financial_Services_in_Africa_An_Historical_Perspective_The_Importance_of_High-Impact_Entrepreneurship
3. How mobile phones uniquely evolved to become the banking solution in East Africa: https://youtu.be/1O83CnrKfkk
4. Financial inclusion in Africa: https://www.afdb.org/fileadmin/uploads/afdb/Documents/Project-and-Operations/Financial_Inclusion_in_Africa.pdf
5. How Africa's ancient practices are being digitized for the future: https://qz.com/africa/1392527/africas-ancient-practices-are-being-digitized-for-the-future

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