Kamix SAS

People from African diaspora send back home about 60 billion dollars per year (World Bank), twice the amount of foreign aid. Weirdly, it costs them in average 9% in transaction fees as compared to the average 7% fees for other destinations. This represents an extra cost of  2 billion dollars per year, qualified as "super racket" by former UN secretary Kofi Annan. In facts this extra cost could help finance (i) the education of 15 million children, or (ii) the access to safe water for 21 million people, or (iii) the access to modern toilets for 8 million people.

Our project aims at reducing the costs of money transfer to Africa to under 2% thanks to a decentralized app. This is possible today thanks to blockchain & cryptocurrencies for which value / asset transfer is an obvious use case. Our remittance protocol manages to avoid complexities related to volatility and liquidity: we are leveraging on proprietary smart contracts - we are not using bitcoin. The protocol is embedded in an app tailored to the needs and context of African citizens, cash being king in most of their countries.

Considering the weight of remittances in African economies (5% of GDP for Nigeria, up to 28% for Liberia), our project is social in essence: we are committed to reinvest 5% to 10% of our profits in education and health project in Africa to empower the communities we serve. 

Our ambition in next 3 - 5 years: become the first African licorn from French Tech with strong social purpose.