Kenya’s Safi Protocol Uses Blockchain And DeFi to Boost Clean Energy Access.

Safi Protocol, based in Kenya, is a blockchain-powered platform designed to connect the decentralized finance (DeFi) ecosystem with eligible real-world clean energy consumers in Africa.

Established in 2022, Safi Protocol streamlines the accessibility of clean energy solutions for both individuals and businesses, providing an innovative investment opportunity for participants in the DeFi space.

“In essence, we facilitate the connection between individuals seeking to invest their cryptocurrency assets and clean energy projects in need of funding. This creates a mutually beneficial scenario that fosters both sustainability and financial growth,” explained George Mosomi, co-founder and head of operations, in a statement to Techmoonshot.

The company’s inception was rooted in the shared passion of the founding team for sustainability, carbon finance, and blockchain technology.

We identified a significant gap in the market, especially in Africa, where clean energy projects frequently face challenges in securing funding due to limited access to global capital markets.

George Mosomi, co-founder and head of operations.

“We identified a significant gap in the market, especially in Africa, where clean energy projects frequently face challenges in securing funding due to limited access to global capital markets. Traditional financing methods are often cumbersome and time-consuming,” added Mosomi.

Our platform tackles this challenge by linking these projects with DeFi investors seeking opportunities beyond conventional assets. Despite the presence of competitors in both the DeFi and clean energy domains, Safi Protocol distinguishes itself through its distinctive combination of both sectors.”

Safi Protocol commenced its journey with bootstrap funding for the MVP and subsequently secured a successful pre-seed round from its initial advisors.

“This capital has played a crucial role in the development of our platform and the extension of our services to four countries,” remarked Mosomi, emphasizing the promising initial reception of Safi Protocol.

“Since our launch, we’ve witnessed increasing interest from both cryptocurrency investors and clean energy projects. Within less than a year, we’ve successfully onboarded 50 clean energy projects onto our platform, experiencing a steady rise in our user base. The feedback from our initial users has been favorable, and we are actively engaged in platform improvements based on their insights,” shared Mosomi.

Presently, Safi Protocol is actively operating in Kenya, Uganda, South Africa, and Nigeria.

Our objective is to establish a robust presence in these markets and forge partnerships with local clean energy projects. Regarding expansion, we have plans to progressively broaden our footprint to other African countries, with Zambia, Malawi, and Ghana as our top priorities. Eventually, we aim to explore opportunities in other regions facing similar energy challenges and displaying a growing interest in DeFi,” stated Mosomi.

Safi Protocol generates revenue through transaction fees and additional value-added services on its platform, such as asset management and collateralization of sustainability assets.

“This enables users to leverage their real-world assets for access to other financial services that might otherwise be out of reach. It’s important to note that as a relatively new venture, our revenue streams are steadily increasing with the onboarding of more users and projects onto our platform. We have a clear path to profitability and anticipate reaching that milestone in 2024 as our user base continues to grow,” Mosomi added.

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