Empowa is a project that offers decentralized but affordable home loans for the people that are financially excluded. The project has recently partnered with World Mobile, the world’s first blockchain-based mobile network powered by the sharing economy.
The new collaboration strives to deliver various life-changing solutions to the under-banked and unconnected regions in the world by offering access to affordable housing and reliable internet connectivity.
Empowa is currently raising funds to invest in the construction of homes in the port city of Beira, Mozambique. The homes will offer the core and market upon which the World Mobile team and several local entrepreneurs can cooperate to install AirNodes and offer reliable and affordable internet connectivity to the mass market.
In that context, World Mobile and Empowa are renowned cutting-edge projects building on the Cardano blockchain. Initially, they were introduced as members of the Blockchain4Good collective. Since then, they have shared a mission of building financially sustainable businesses that make a social impact using Web 3.0 technology.
Mozambique’s population is more than 30 million people. However, there are just 600 mortgages in the nation. Empowa is using nonfungible tokens (NFTs) in a distinct way to circumvent the limitation. The money acquired through the RealFi NFT is invested to resolve the systematic failures affecting the financial industry. It is also used to offer affordable lease-to-own home loans for financially excluded individuals.
All these environmentally sustainable homes are affordable and cyclone resistant. Today, almost 80% of Beira homes are at high risk because of these disasters since they are self-built, using poor quality materials and inappropriate building methods.
Empowa CEO and Co-Founder, Glen Jordan, said:
“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 well.”
World Mobile CEO and Co-Founder, Micky Watkins, commented:
“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 discover more about Empowa and support the groundbreaking project, you can visit their page on Medium.
