Paxful has announced the launch of the COVID Relief Fund, a philanthropic venture initiated by Paxful’s #BuiltWithBitcoin sector.
It is a fund for Africa, thanks to which donations of food, IPR, water stations and more will be made to countries across the continent.
The initiative is part of Paxful’s #BuiltWithBitcoin program, launched in 2017 with the task of using bitcoin to help people around the world.
Paxful itself will donate $15,000 to provide:
- 8,400 meals in South Africa,
- 6,100 masks for Kibera workers in Kenya,
- 1,000 packages of meals, disinfectants and PPE in various states of Nigeria, including Kaduna Kano, Adamawa, Enugu, Abuja, Lagos and Kwara, and health insurance,
- access to clean water, books and school supplies for 1,873 people in Rwanda.
In addition, it will double the donations received up to an additional $15,000.
Zam Zam Water, a humanitarian organization dedicated to poverty eradication by providing clean water and access to quality education, is also participating in the initiative, while it will be coordinated in the field by GROW Educare and SHOFCO.
The aim of the initiative is to build 100 schools, water wells and community gardens for sustainable agriculture, financed entirely with bitcoin donations.
The confirmed cases of COVID-19 contagion in Africa are increasing at exponential rates.
This injection of funds will focus on the major problems facing Africa at the moment, including access to food, water and medical supplies.
The CEO of Paxful, Ray Youssef, said:
“As a bootstrapped company, with founders who have a passion for giving instead of material things, we cultivated #BuiltWithBitcoin around creating positive social change. Paxful was the first to really look at Africa and see the opportunity to make a difference through bitcoin. The Africa Fund is just the latest in what will be an ongoing effort to provide relief and serve these resilient communities we grew within their time of need”.
The CEO and founder of SHOFCO, Kennedy Odede, commented:
“SHOFCO is on the front lines of COVID-19 response in Kenya’s urban slums, working around the clock to address basic needs like access to clean water, good hygiene and sanitation, economic support and emergency food relief. With support from Paxful we are able to deliver essential services and protections that will help save lives among Kenya’s most vulnerable urban slum communities”.