Co-founded by Neil Ariel Nkoyock in 2017, BitAfric (BTA) is a transaction-friendly cryptocurrency that is commonly thought of as the African gold mine. BitAfric has many key advantages to other African currencies including the Franc CFA that provide to Africans the monetary sovereignty and development tools expected since almost 100 years. BitAfric also has some key technical differences to other known cryptocurrencies that make it the premier cryptocurrency for payments for the African markets and environments, namely its faster transaction speeds and cheaper fees.
Francophone African countries are characterized by high levels of poverty, especially in
rural areas. Approximately 70% (of 155 million inhabitants) of poor people live in rural
areas, and almost all rural residents are poor. They don’t have basic social services
such as food and water, shelter, energy, health and education, and transport and
communications services. The natural resource base to which they have access cannot
provide rural people with the means of subsistence.
The BitAfric Foundation sought to respond to increased suffering, starvation and deaths
among communities. The Foundation would like to work at grassroots level to enhance
the capacity of communities it works with to enable them to respond to their basic needs
using first and foremost, their local resources.
Among the key strategic choices of the Foundation is the decision to build on existing
experience, replicable programmes, and innovative service delivery. The initiatives of
the Foundation will include the Local economic development fund, Community water
supply and sanitation, Food security and livelihoods, Rural housing, etc., Local
Business service centers, Small and Middle enterprise incubators, Agricultural
marketing and farming development, Assistance to the development of skills for industry
and employment, creation of self-sustaining villages, Establishment of IT centers,
Distance learning centers, Awareness programmes for primary and secondary schools,
Waste management programmes, and others.