Please describe your proposed solution.
Entrepreneurs in Africa play a key role to produce food and can act as solutions-multipliers to enhance the resilience and capacity of people and communities to cope with the ongoing escalating food crisis that is being exacerbated by climate change and the war in Ukraine (Russia and Ukraine are key cereal providers for many LDCs). This proposal will allow easier and quicker access to microcredit-type funding for entrepreneurs in Africa.
Additionally, COP27 will be the COP of Africa, and the Egyptian Presidency is keen on making COP27 a springboard and catalyzing moment for channeling finance towards adaptation and Nature-Based Solutions on the ground.
In collaboration with The Rallying Cry, SHE Changes Climate (SCC) will catalyse investment to grow and scale climate-smart enterprises across agricultural value chains in Africa. This work will support the development of financial instruments that are tailored to the needs of African entrepreneurs.
The team has already started interacting with the Cardano community such as Yoram Ben-Zvi, Dzhuliana Nikolova, and Mercy A. Fordwoo.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
Cardano needs concrete and sustained crypto investment in Africa to ensure Cardano market growth. SCC and The Rallying Cry are working with frontline African business leaders who are delivering climate-smart, diverse, and sustainable solutions across the agriculture value chain. More international climate and development finance is channelled towards climate-smart enterprises. In partnership with Cardano investors, this project could be escalated and platform Cardano to a global network.
Additionally, Africa has historically lacked large funding opportunities. This proposal will align with the Grow Africa, Grow Cardano fund as it will focus and strategies on ways to promote blockchain, impact investing, and the growth of climate tech in the Global South.
SCC has built a community of partners and 400+ influential leaders, the Cardano mentoring women network, the Women's Earth Alliance network, the Rallying Cry network of women entrepreneurs in Africa, as well as the Ford Foundation network of grantees.
This proposal will contribute and is aligned with the following Challenge 9 KPIs:
Number of proposals addressing the fundamental issues preventing Cardano adoption in Africa
Number of proposals offering solutions to infrastructure and education concerns
Local impact (measurable through user activity and reach)
Local partnerships formed (size of institution + influence)
And will indirectly contribute to the following Challenge KPIs:
Number of new Africa-based Catalyst members (proposers, voters, CAs)
Number of new African projects seeded in 2022
Number of African developers onboarded in 2022
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Risk of not delivering: The team is already working on building partnerships with entrepreneurs in Africa and expanding the SCC network. However, there are always risks. To mitigate these, we are working with The Rallying Cry which has a wealth of experience in the space of micro-credits in Africa and how capital allocators can scale local climate solutions through more equitable financing solutions and collaborative, ecosystem-driven partnerships.
Risk of not adopting: There is a risk that people will not be interested in partaking in a micro-credit opportunity. There are currently over 25 stakeholders in Kenya and Zambia who have a relationship with The Rallying Cry. The collaboration with SCC and Cardano will expand engaged stakeholders from this platform.
Risk of not reaching the desired outcome: The desired outcome is to catalyse blockchain investment in Africa. This will require working with Global North Investors and engaging with stakeholders in Africa. Building these connections will encourage investments and grow strong, trusted, and transparent relationships. An indirect product of this as addressed in the KPIs is the potential for a number of new initiatives onboarded through our African partners. The process of the event will determine the outcome.