BitFinance of Zimbabwe Becomes Savannah Fund’s First Bitcoin-Related Investment
The fourth Savannah Fund accelerator class is underway. BitFinance, a bitcoin exchange in Zimbabwe, is one of four startups selected from a list of over 150 applications from across Africa. They will receive a seed fund of between $25K and $30K, as well as the opportunity to present at a demo day set for the end of July. Savannah Fund is a seed capital fund based in Nairobi Kenya. They invest in early-stage, high-growth technology (web and mobile) startups in sub-Saharan Africa. The fund has invested in about 20 startups in 6 countries (Kenya, Uganda, Ghana, Nigeria, South Africa and....
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Zimbabwean bitcoin startup BitFinance has announced a new investment from angel investor Taurai Chinyamakobvu, according to Techzim, a technology news site in Zimbabwe. BitFinance will use the funds to expand its service and improve the user experience on BitcoinFundi, the bitcoin exchange used by third-party subscribers to hold and trade bitcoin with other subscribers. BitFinance touts BitcoinFundi as Africa’s leading bitcoin exchange. Startup Joined Savannah Fund Accelerator. Tawanda Kembo and Verengai Mabika launched the startup in 2014. It gained visibility across Africa in 2015 when....
It remains to be seen if Bitcoin can become a competitive payment solution in Zimbabwe, though. Investments in Bitcoin and cryptocurrency companies continue to peak as of late. BitFinance, a startup located in Zimbabwe, secured a new round of investment earlier this week. With the new funds, the company aims to boost cryptocurrency awareness and grow its customer base. It appears Bitcoin is getting more popular in Zimbabwe and other African countries. The name BitFinance may not ring a bell for most Bitcoin enthusiasts, but the company is quite successful in Zimbabwe. Their service is....
Nov. 22-25, the first ever Blockchain Summer School will be opened in Harare, Zimbabwe. The event intends to educate and explore the benefits of Bitcoin as well as stimulating discussions on the challenges that inhibit cryptocurrency adoption in Africa. The event is organized by Bitfinance, a Zimbabwe-based Bitcoin exchange and infrastructure developer firm in collaboration with the Blockchain Academy. The target audience are local businesses that have been hit hardest by the current financial crisis in Zimbabwe. Tawanda Kembo, growth hacker at Bitfinance, says: “Zimbabwe is the hardest....
How legal and useful is Bitcoin in Zimbabwe, the country which has been faced with a difficult economic situation for decades? The South African country has some issues with its currency that has almost brought it to its knees. It has found it extremely difficult to move ahead with the plan to revive the economy. Bitcoin is not illegal. According to Simbarashe Machiridza, who is the compliance officer at Bitfinance, a Bitcoin exchange that serves users across Africa, Bitcoin use is legal in Zimbabwe but it is not a legal tender, that is “... Although it’s not against the law to have....
The protracted economic meltdown in Zimbabwe has given rise to the adoption of multiple currencies within the nation. The revolution coming about as a result of the cryptocurrency startup, BitFinance, has become a subject of interest to one of the world's most respected institutions of research, Stanford University. Hope for more. BitFinance is not only revolutionizing the fragile Zimbabwean economy, but could also have an impact on the Bitcoin revolution in Africa as a whole. Here are some experts’ opinions on the impact of the study on the Bitcoin ecosystem. “I suppose Stanford found the....