September 6th, 2022 at 12:22 pm UTC · 3 min read
Empowa, a project providing decentralised, affordable home loans for the financially excluded, has partnered with World Mobile, the world’s first blockchain-based mobile network based on the sharing economy. This collaboration aims to deliver life-changing solutions to underbanked and unconnected regions in the world by providing access to affordable housing and reliable Internet connectivity.
Empowa is raising funds to invest in the construction of homes in the port city of Beira, Mozambique. These homes will provide the backbone and market upon which the World Mobile team and local entrepreneurs can work together to install AirNodes and provide reliable and affordable Internet connectivity to the mass market.
World Mobile and Empowa are both cutting-edge projects building on the Cardano blockchain, were first introduced as members of the Blockchain4Good collective, and have a shared mission of building financially sustainable businesses to make a social impact using Web 3.0 technology.
Mozambique’s population is over 30 million people, but there are only 600 mortgages in the country. Empowa is utilising NFTs in a unique way to overcome this constraint. The funds raised through this RealFi NFT are invested to address the systematic failures of the financial sector and provide affordable lease-to-own home loans for the financially excluded. These environmentally sustainable homes are not only affordable but also cyclone resistant. Currently, nearly 80 percent of Beira homes are at risk due to such disasters because they are self-built, with poor quality materials and improper building techniques.
Glen Jordan, Empowa CEO and Co-Founder, says:
“This RealFi NFT allows impact investors to be rewarded while fundamentally changing the lives of others. Many of us have the privilege of a stable roof over our heads and constant access to the Internet. This is not the reality for most of the world, particularly in Africa. Investing in this change presents an amazing opportunity to do well while doing good.”
Micky Watkins, World Mobile CEO and Co-Founder, says:
“We are delighted to be partnering with Empowa to deliver connectivity to the financially excluded and unconnected. Empowa shares our belief that financial autonomy and connectivity are crucial for economic and social development, and we are excited to work with local entrepreneurs to grow our network and sharing economy. By allowing people to own the AirNodes on our network and earn from them, we create a circular ecosystem where everyone benefits from improved connectivity and economic opportunity.”
To find out more about Empowa and to support this groundbreaking project please click here.
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