WEALTH

TECH BRIDGING FINANCE

The evolution of money since the days B.C has been revolutionary in each century. We’re all familiar with the system of trading and bartering, which was common place for millennia. Around 5000 B.C. commodities included; salt, cattle or grain; as early as 2000 B.C. we see evidence of the spice route and the silk route later in 130 B.C. where spice and silk were the currency of the day. In the times of Abraham, he was noted to be an excellent water merchant and in later years we see the introduction of gold and silver become common place with Mesopotamia minting some of the first coins around 650 B.C.

Throughout different regions and different eras people agreed and made common place as a means of trade what was rare or valuable. In the financial system as we now know it, currencies were initially backed by the gold standard before the quick jumps from actual gold and silver coins to paper currency, bank cards, smart pay and now cryptocurrencies. As technology has developed, so has our ability to trade and the various forms in which we can trade. Once one had a note that was written and guaranteed with the seal of a regent or noble person which could be taken with to trade in far off places at popular markets between cosmopolitan cities.

Now, at a click of a button you can trade on any global market (stock exchange) or shop any product with any retailer anywhere in the

world, with the convenience of a digital wallet that can easily and quickly convert currency.

The ability and ease of moving money and trading on these platforms has brought with it fantastic innovations such as the use of M-PESA which is most popular in Kenya, a mobile based money transfer, payment and micro-financing service; EcoCash which is used in Zimbabwe, allowing user to complete payments via their mobile phones and PayPal which is popular in the states and in addition to paying into people’s accounts is also accepted by various store merchants, even outside of the USA.

Taking this to the next level was the introduction of cryptocurrencies and wallets allowing trades to take place over blockchain, presenting us with the world of Bitcoin, Ethereum and Coinbase, just to name a few. Just as we thought we might wrap our minds around this nexus of money and code, most recently the introduction of non-fungible tokens or NFT’s, which combines digital data stored in a blockchain with a distributed ledger to create financial security and ownership which can be traded. In this space we’re seeing a number of future thinking individuals who are innovating for impact and creating community currencies focused around

social good. Innovations in this space include the likes of; Makkie, a time banking currency in the Netherlands that allows local citizens to earn Makkies by volunteering in community projects then spending them on a range of goods, products, and services; or E-portemonnee, a digital e-wallet which gives credits for environmentally friendly behavior.

It’s a whole world of exploration, it can be scary and overwhelming, but we are seeing great opportunities springing forth presenting new options for trade, new markets and creating access for those who were previously unbanked or who have been financially excluded.

Through our phones allowing us to trade without having a bank account, it means micro-businesses and entrepreneurs everywhere can be economically active in ways there weren’t able to before, and not only that, they can track their business trades which can be helpful when looking for funding or to raise capital.

Innovations from The

Peoples Fund, which allows the community to buy into a startup to raise capital; Live Stock Wealth, that allows one to own a portion of a cow or produce; or SV Capital which has extended its product offering to include an iLobola fund allowing people to invest in their wedding long before the date arrives.

These and many other innovations are creating a new way of investing and sourcing funding to startups, allowing consumers and communities to get involved and taking into account impact from the very beginning.

Meeting us here are various organisations who know that the tide is turning and are putting their money behind innovation and seeing more women in technology, and making sure women aren’t left out of the FinTech space.

A world of opportunity awaits, where you don’t have to be an expert to create or participate, but can connect with other likeminded people ready and willing to innovate and disrupt the norm to create a different kind of future, one with decentralised currencies and markets, one where the value of money has to include and reflect the value of people, community and the environment, one where you can decide today what matters most tomorrow.

CLICK

Rising Tide Africa www.risingtideafrica.com

Africa Trust Group www.africatrustgroup.com

Graça Machel Trust Investment Fund www.gracamacheltrust.org

She Leads Africa www.sheleadsafrica.org

Standard Chartered Women in Technology Incubator www.womenintech.co.ke

African Women’s Development Fund www.awdf.org

The African Women Leadership Fund www.competitions. potential.com HERE ARE SOME OPPORTUNITES YOU CAN LOOK AT:

IFundWomen is the go-to funding marketplace for women-owned businesses and the people who want to support them with access to capital, coaching, and connections. www. ifundwomen.com

www.toryburchfoundation.org

www.womenwhotech.org

www.cartierwomensinitiative.com

www.seedsouth.com

www.seedsouth.com

The Tory Burch Foundation empowers women andwomen entrepreneurs by providing access to capital, education and digital resources

Women Who Tech is nonprofit organization building a culture and inclusive economy to accelerate women tech entrepreneurs and close the funding gap.

The Cartier Women’s Initiative is an annual international entrepreneurship program that aims to drive change by empowering women impact entrepreneurs. Founded in 2006, the program is open to women-run and women-owned businesses from any country and sector that aim to have a strong and sustainable social and/or environmental impact.

Seed South Capital is an organization built for the times, today’s societal demands call for pragmatic solutions to address the widespread economic inequality. We cannot and should not admire the problem anymore.

Dazzle Angels is a female focused angel fund, that is led and funded by experienced business women. Our angels not only invest their money, but also invest their time, skills and networks, which is where the real value lies.

Women in