Once upon a time, ….Ejara
A small group of crazy people, very talented developers, a refurbished basement, a controlled chaos fueled by a burning desire to change the perception of Africa by boosting investment opportunities for the common folks.
Here comes Ejara!
Ejara is an application intended to provide African populations (inside and outside of Africa) and the disadvantaged around the world, with easy access to investment opportunities, in particular through modern tools such as Crypto and mobile payments.
In a context of real enthusiasm, even proliferation of Fintech projects in Africa, we noticed that most of these projects revolve around payment solutions and remittances.
Very few current projects in Africa offer solutions around investment opportunities for the average customer.
Anyone could ask how to propose investment opportunities for populations with very modest incomes, fighting for daily survival in a context of generalized misery?
The truth is that African economies operate in dual formal and informal sectors. And according to the African Development Bank (AfDB), the informal sector represents almost 55% of the combined African economies.
The informal sector comprises the part of the economy of a country which escapes completely or partially from the regulation and consequently from the accompaniment of institutions such as banks. There are therefore several small trades (trader, blacksmiths, masons, farmers, breeders, market sellers, etc.) and even non-legalized companies which operate in hiding and cannot claim support nor access to traditional finance sector.
However, the informal sector is very active and, contrary to what one might imagine, generate a huge financial flow for its actors.
Besides this informal sector, there is a more or less timid formal sector whose contribution from the actors is undeniable on the economy.
If there is one thing in common with the players in these two sectors, it is their poor financial education, particularly in knowledge and practice of investment activities.
We therefore have a young, dynamic continent full of immense development potential, but with a very weak financial culture and therefore relatively little investment knowledge, let alone practice or opportunity in this area.
Indeed, it is very unusual to find Africans with diversified sources of income. Even if the practice of saving circles is quite generalized in certain countries in Africa, it constitutes more a means of saving for consumption and not a tool of investment or more precisely, of diversification of investments.
And that’s where Ejara comes in!
Aware of the immensity of the project, in terms of habits to popularize, and confident that young people are more and more open to new ideas and new technologies especially those related to building a new relationship to work and money, we are thinking of providing a modern solution to the investment needs of our populations in a context of low banking, low financial education, but a boom in flexible payment solutions.
What is the Ejara solution?
Ejara is an application allowing users to create and diversify their investment portfolio by capitalizing in particular on the rise of cryptocurrencies and its corollary blockchain technology . We will certainly come back to this in other articles.
With Ejara, as of today you can:
- Store cryptocurrencies in decentralized wallets (Bitcoin, Tezos)
- Buy crypto with local fiat money (CFA franc)
- Send and Receive cryptos
Tomorrow you will be able to :
- Buy tokenized assets
- Sell crypto for fiat
- And many more
We wholeheartedly believe in our ability to contribute to the financial emancipation of Africans through the diversification of their investment and thereby better cushion unfavorable economic conditions.
By pursuing this goal, Ejara will thus be fulfilling its vision which is to help Africa close its gap with other continents in terms of equitable access to the powerful financial tools and investment opportunities.
It’s time for Africans and Afro-descendants around the world to create, protect and grow their wealth
