Empowering Artisan Communities with Financial Inclusion
This episode is all about financial inclusion!
I invited Eric Osuorah, the founder of AFOMA, "the goodwill token". He wanted to empower artisans and small businesses in different African communities, so he started Sellitic - a more financial inclusive eCommerce marketplace using a crypto token called AFOMA.
He told me that these craftsmen and artists want to sell outside of their native countries, but the existing cross-border payment methods (PayPal and bank transfers) are prohibitively expensive, slow, and impractical for small businesses in emerging markets. Also, Eric told me about the difficulties in educating about crypto technology and its benefits, but he already has a strategy in place.
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