Nigerians are among the first to take advantage of decentralized loans backed by small-stake personal cryptocurrency
Global climate change continues to challenge the world's productivity and has already badly impacted the overall ability to maintain minimum sustainable goods production in Nigeria, as well as impacting overall food security for much of the population. Today, 100 million people in Africa face multiple crises, emergencies and catastrophic levels of food insecurity - with an increase of more than 60% between 2019 and 2020. As a result, social uplift has become a key goal for Environmental, Social and Corporate Governance (ESG) impact investing and global interest under the United Nations Sustainable Development Goals (UNDP).
As concerns around climate change become more prevalent, it becomes even more vital to help bridge the gap between a positive global economy and less dynamic community-bettering initiatives. Since millennials are becoming a more significant force in the Nigerian economy, tapping into the cryptocurrency market where many of these individuals are already involved may be the key to opening a new generation of economic opportunities and supporting African communities with an over $2 trillion estimated market.
MELD, an open-source and non-custodial liquidity protocol for lending and borrowing crypto and fiat currencies, operates with the mission to equalize the playing field between the ‘haves’ and the ‘have-nots’ and create opportunities for the bottom 97% of the world’s population, helping these people gain control of their financial lives. To help further this mission, MELD has partnered with Nigerian telco Tingo to create low-interest microloans, which will deliver highly-efficient decentralized finance (DeFi) lending and borrowing solutions to customers throughout the region.
Tingo Mobile is connecting
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