Safi Protocol is an innovative blockchain-based platform that connects decentralized finance (DeFi) investors with African clean energy projects in need of funding.
As a new company aiming to promote sustainability and financial access, Safi Protocol fills a unique niche.
Enabling Access to Clean Energy Financing
Clean energy projects in Africa often struggle to secure adequate financing to realize their goals. As George Mosomi, Co-Founder and Head of Operations at Safi Protocol, explained:
“Essentially, we connect individuals looking to invest their cryptocurrency assets with clean energy projects in need of funding, creating a win-win situation that promotes sustainability and financial growth.”
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Traditional financing channels are frequently difficult for African clean energy projects to access. Safi Protocol addresses this challenge by linking these projects with DeFi investors looking to diversify beyond conventional assets.
“Our platform addresses this by connecting these projects with DeFi investors who are looking for opportunities beyond traditional assets. While there may be competitors in the DeFi and clean energy spaces, Safi Protocol’s unique blend of both sectors sets us apart,” Mosomi emphasized.
By serving as a conduit between DeFi capital and African clean energy initiatives, Safi Protocol creates mutual value.
Combining DeFi and Sustainability
Safi Protocol occupies a unique cross-section between decentralized finance and sustainability. While other companies might focus on one vertical or the other, Safi Protocol bridges both spheres.
The founding team bonded over shared passions for sustainability, carbon finance, and blockchain technology. They recognized the market need for an easier way to connect DeFi assets with clean energy funding opportunities.
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After bootstrapping an initial minimum viable product (MVP), Safi Protocol completed a successful pre-seed funding round. This capital allowed the team to further develop the platform and expand to users in four African countries so far.
Gaining Early Traction in the Market
Since launching in 2022, Safi Protocol has made significant progress.
“Since our launch, we’ve seen growing interest from both cryptocurrency investors and clean energy projects. We’ve onboarded 50 clean energy projects onto our platform in less than one year, and our user base has steadily increased. The response from our initial users has been positive, and we are actively working on enhancing the platform based on their feedback” Mosomi said.
Currently active in Kenya, Uganda, South Africa, and Nigeria, Safi Protocol plans to continue expanding across Africa. Priorities include Zambia, Malawi, Ghana, and other markets with surging interest in both clean energy and DeFi adoption.
Pathway to Profitability
Safi Protocol currently generates revenue through transaction fees and other value-added services on its platform, such as asset management and collateralization of sustainability assets.
“This allows users to extend their real-world assets to access to other financial services which would have otherwise been out of reach. While it’s important to note that as a relatively new venture, our revenue streams are steadily increasing as we onboard more users and projects onto our platform. We have a clear path to profitability and anticipate reaching that profitability in 2024 as our user base continues to grow,” Mosomi said.
By concentrating on platform and user expansion in the short term, Safi Protocol sets itself up for sustainability as adoption reaches critical mass.
Bridging the African clean energy funding gap while connecting DeFi investors with purpose-driven returns generates a product-market fit ripe for growth.
As the needs and Safi Protocol’s user base trends upward in parallel tracks, robust monetization seamlessly follows.
