My company is setting up a Bitcoin money transfer service in East Africa, to run similar to the M-PESA mobile money network. Because Bitcoin is difficult to obtain in Africa, we intend to provide a Bitcoin microfinance where Bitcoins can be exchanged for local currency at agents.
This can allow small businesses to receive payments in BTC and convert to cash securely and easily, avoiding the hefty transaction fees associated with mobile money. Our objective is to build a Bitcoin economy where payments in Bitcoin are accepted via mobile apps. With this capital and our own investment we will be able to begin a pilot rollout with businesses in Nairobi. Revenue streams will mainly involve exchange gains and volume-based fees for businesses.