Ronald Biko Blay: Rising Ghanaian musician drops hit single; shares photos and videos

Born on the 11th May 1995 at Esiama in the Ellembelle District of the Nzema Municipality, his full name is Ronald Biko Blay, a musician and entrepreneur.

He simply goes by Ronald Blay as a stage name in the showbiz.

Other names he responds to are Mr. Blay and Still Kicking.

READ ALSO: Jimbolee drops hit song ‘Change’; fan describes him as amazing

Blay is the only male child and the last of 3 children born by his parents.

He was raised in Takoradi, where he completed his upper primary and Junior High  Education at Nazareth School in Apowa.

He studied Mechanical Engineering at Kikam Technical Institute but has an immense interest in music and reading.

Blay is constantly inspired by people who have brought positive changes into their lives as well those who focus on their God-given talent; he feels he can do the same to be an inspiration to others as well.

The funding for his music business has been quite unstable due to the fact that there is no major label or management team supporting him.

Currently, contributions from the team members and some loyal fans help to support his career.

He admits he mostly faces financial challenges and this complicates plans to get his songs played on radio and being recognized by the masses.

Blay is hopeful that in the next 5 years his music will be played and enjoyed all over the globe.

If given an opportunity to send a message to President Akufo-Addo, Blay intends to request for support for the creative art industry in Ghana.


Want to be featured on Bizz101? Connect with us on FacebookLinkedInTwitterInstagram and YouTube

BilthMoment: Life After High School; Career Choices With Hannah Zoroaster Edwin

High school is the fun stage of our youthful life’s but real life sets in soon after.

What do I do now that am out of high school?

Where do I see myself in the next 1,2,3…years?; sometimes these questions become difficult to answer.

READ ALSO: Generating amazing business ideas; steps to take

When choosing a career, there are several steps one can take in realising the desired dream.

These steps or procedures differs from one person to the other and affect the end results.

Notwithstanding, there are a few strategies that help shape the ideas and thoughts in the minds of Senior High School (SHS) leavers.

There a number of creative steps one could take in order to shape the career path and attain satisfaction in life.

READ ALSO: How to find a suitable co-founder for your business

These, steps can be known as your unique ‘WIFI’.

W.I.F.I as an acronym which stands for:

W – Watch Your Interests

I – Investigate Your Options

F – Follow Your Dreams

I-I’m Interested in………. & I’ll see where it leads me

W – Watch Your Interest:

In watching your interests, you will need to make a list of things you easily do in your spare time, as well as the things you think about when your mind wanders around. 

For instance, if in your leisure time, you are someone who does not find it stressful to draw or write, then you should be looking into fields of work or career paths that make use of creative abilities.

This, in effect, will make you find satisfaction in that which you want to pursue.

I – Investigate Your Options:

There are numerous options you can choose from when you career selection path comes into play.

Therefore, as an individual, write down 5 things you would want to do after school.

Also, research and write down on 5 things you previously never considered.

This process can help you streamline your options to focus on a selected few and then helps you make final decisions on them.

F – Follow your Dreams

This part of the process is that point where everyone gets to or will come across one way or the other as you journey through life. 

Your dreams speak volumes about you as a person and this, in effect, allows you to make decisions that best suit the actualization of your career you choose to follow.

No matter how huge your dreams may seem, don’t be discouraged.

With determination and consistent work on your dreams, desired results will manifest for all to see.

I – I’m Interested in…… and  I’ll see where it leads me

In choosing career paths, venturing into new territories is one risk most people struggle with; they tend to worry more about the uncertainties of life.

This feeling is true and also cautions us in making right decisions for our future.

Focusing on your fears has a greater probability of causing you from turn your attention from areas that will, in the end, open you up to many possibilities.

The strengths and weakness of someone looking at a new career path would have to be carefully considered so that the energy of the person can be channeled appropriately.

Your dreams and aspirations cannot be sidelined as they help determine the rate of speed you will run in life and with your career.

READ ALSO: Profit or wages? choices for the young entrepreneur


Want to be featured on Bizz101? Connect with us on FacebookLinkedInTwitterInstagram and YouTube

Money Transfer Abroad: 12 questions you ever wanted to have answered

By: Jens Ischebeck

Money transfer abroad is so easy today. And so difficult.

According to the World Bank, $445 billion worth of remittances is available for transfer; this amount is higher than we can imagine.

In order to make the life easier for you, this in-depth article look at 13 frequently asked questions about money transfer aborad.

Let’s dive in!

Background of international money transfer:

People living in the USA / Canada and Europe / UK whose origin is Africa will want to transfer money abroad to their people back at home.

Supporting your family is the most important thing, and hence, you need to have the best money transfer service that can guarantee safety for a smooth transaction.
You will likely want to send money to your family regularly irrespective of which part of Africa your family is.

Therefore, knowing the best way to transfer money overseas will help you eliminate the uncertainties that arise anytime a person may want to transfer money abroad.
In the past, transferring money abroad was hectic due to the lack of a well-laid procedure for sending money.

It was faced with a lot of challenges due to congestion and hence delayed in transfers.

You could take a long period to get your transaction processed by the union or the banks you chose.

Technology has taken root in almost every sector in the world today, and money transfer is not left behind.

It has led to the rising of different international money transfer companies that give flexibility like no other.

You can choose the company you want to deal with according to your needs.

With the rise of the internet, fast International money transfer has been possible.

You will not be worried any longer about the long queues in the bank, and also your family will not have to wait for days to receive the sent money. The use of the internet allows for the best way to transfer money overseas.

Emergencies are daily occurrences and can make you sick and worried whenever they happen.

You can be devastated by such happenings, mainly when they occur to your family during the period you are not around.

The ability to transfer money abroad fast allows you to support them during such times.
The internet has also given rise to instant international money transfer methods that provide you with an opportunity to send money to your family instantly.

Instant international money transfer comes in handy when you want to seek pressing issues and emergencies back at home in your absence.

Too cut it short, let’s answer 13 questions and find the best money transfer app for you!

#1:The Best Way For A Money Transfer Abroad

You cannot point the best money transfer service in the world full of multiple international money transfer companies.

It is because the firm that one prefers best for them may not seem so for the other. It depends on what needs you have at that particular time and your degree of flexibility.
If your family has instant money needs, the best way to transfer money abroad for you at that particular time is by use of methods that will deliver the amount instantly.

Therefore, the situation you are in dictates the best way to transfer money oversea according to how well it works for that situation.

Your bank and Western Union are some of those methods used to transfer money abroad by individuals who are not working on a fixed time.

They take quite a long time and also have high transfer rates. However, they provide an opportunity for a person to send any amount of money.

PayPal and TransferWise are the fast, International money transfer applications that are in use today.

They are essential in helping you meet the emergency needs of your family.

They allow you to carry out instant international money transfer with your phone and in your home.

Therefore, before you determine the best way to transfer money abroad, you need first to resolve the situation you are facing.

Then from there, you can effectively choose the best method to transfer money oversea that will help you meet the demands of the condition your family is facing.

#2: Determining A Safe International Money Transfer Method

With the multiple ways of transferring money abroad, it is difficult to determine the safest way to transfer money abroad fully.

The variety of these methods are available with different terms and conditions, delivery time, and also different charge rates. Some are reliable, while others are not.

Different possibilities for a money transfer abroad are:

  • Bank transfer (wire transfer)
  • Peer-to-peer (P2P) transfer
  • Online money transfer

To help determine the best fit, ensure you check the reputation of each one of them before you can settle for any.

Ensure proper certification with the necessary authorities. They also must provide transparency and credibility.

Their exchange rates and delivery time must be well displayed and guaranteed.

However, money experts advise using your bank to make such transactions as they are the safest compared to the rest.

The only problem with them is high rates and also delayed delivery time. Although the security of your money is guaranteed, and you can be able to transfer large amounts of money.

The bottom line is, whichever method you choose to transfer money abroad, make sure you calculate the risks well.

Be wary of cheap deals and international money transfer companies that promise cool deals.

The cheapest way to transfer money overseas may become the drain for all your hard-earned money.
Make sure you carry out proper research before you choose the method to transfer money abroad.

By doing so, you will avoid falling into the temptation of chasing the cheap deals, which may jeopardize the security of your money.

Have time to weigh what a good deal is before considering it best for your money transfer needs.

Doing this will ensure you are adequately protected while sending money abroad to your family.

Let me present you again the three major possibilities for a money transfer abroad in this infographic:

#3: Tracking An International Money Transfer Abroad

You need to know that there is no automatic method to track your money.

There are only two ways to know; the first one is, you can contact the recipient directly and inquire if the money reached their account.
The other way of tracking your transaction is through the bank you used to make the transfer.

It demands the Federal Reference number, which is a 26 to 18 digits number.

The bank uses it to track the transaction and determine whether the money sent was deposited in the account of your recipient.

Money transfer providers such as WorldRemit offer a money tracking system by sending emails or text messages to the sender. This way, the sender always knows how the order proceeds.

#4: Requirements For An International Transfer

If you want to send money from a bank account to a bank account, there are several things that the sender requires to provide for a successful international money transfer.

They include:

  • The address and the full name of the person intended to receive the money
  • The recipient’s bank full name and its address
  • Account number and account type of the recipient
  • Routine number of the person to receive the money
  • If applicable, the sender is required to give the BIC or SWIFT code of the recipient’s bank
  • IBAN of the recipient’s bank
  • The amount to be transferred
  • The reason why the transfer is necessary

Sending money to the mobile money account of the recipient is much easier. You just need to detail:

  • First name and surname of the recipient
  • His address (can also be just the city)
  • His mobile phone number
  • The amount to be transferred
  • The reason why the transfer is necessary

That’s it.

#5: How Can International Money Apps Be Evaluated?

With the recent advancement in technology, it is now possible for people to transfer money abroad and receive cash in Africa.

Money can directly be sent instantly with minimal human contact.

It only requires a smartphone with reliable internet access to access fast international money transfer applications.
Several international money transfer companies have come up with online applications that allow one to send money directly from one bank account to another in a different location at any given time.

Before selecting a specific app to use to transfer money abroad, one should consider the following factors:

User friendliness for a money transfer abroad

A good app should be user friendly. It should have an easy to use homepage with all features you need. You should be able to access your account quickly and transfer money abroad easily. The interface should be clear and straightforward.

Security of a money transfer abroad

Security is the most vital aspect when transferring money. It would be best if there is an assurance that both your details and funds are secure.
The app should have a strongly protected server that is not easily accessible without authorization to protect it from hackers. Even when you lose your phone, your information should still be secured.

transfer money overseas with lowest transfer charges
Transfer charges

It is also essential to consider how much you will pay for sending a certain amount of money. The fees should be at least cheaper than what the banks are charging. You should also be aware that some apps with low rates may not be secure, and you may end up losing all your money.
Some even take advantage of the foreign exchange rates, and therefore you should double-check before doing any transaction with them.

Transfer money overseas: the availability of money transfer applications is viable
Availability of the Money Transfer Applications

Not all money transfer apps are available all over the world. Check whether the application you are using will allow you to transfer money to your target country.

money transfer abroad: availability of extra features is important
Availability of Extra Features

A good money app should have added extra features that allow one to make payments through bank transfers. It increases customer satisfaction since it reduces the number of transfers and will enable you to pay directly for goods and services.

money transfer abroad: reputation is essential

Always use apps with a good history. Go for apps that have been in the market long enough, and you will be sure that their reputation is good. Check their online reviews to be able to gauge them.

#6: Internationally Recognized Companies Used for Instant International Money Transfer

It is the United States-based application.

When using Zelle, the sender and the recipient should have bank accounts based in the United States. It means that money cannot be transferred internationally to other countries.

Sending money to African friends: not supported

Google Pay

Google Pay is one of the cheapest ways to transfer money internationally. It can only be put in use when paying for items online.

Not all countries have embraced Google Pay; therefore, when traveling overseas, contact your bank for further clarification.
Some countries in Africa have adopted Google Pay to make payments for mobile and computer programs: Algeria, Egypt, Kenya, South Africa,

Google Pay is usable for sending money to your family and friends just in USA and India.

Sending money to African friends: not supported


Paytm is an Indian based company. Paytm was only available to Indian residents who have attained the age of 18.

Foreign currency is not applicable to transact using Paytm. Currently, money can be transferred from Kenya to India using Paytm.

Sending money to African friends: not supported


WorldRemmit is a known fast international money transfer app. It allows users to transfer money abroad with great convenience. Money is transferrable from one bank account to another, or you can choose if the money is delivered physically to a specific location.
It also allows for money to be sent through a mobile phone. It is among the best money transfer services since it is secure as it provides a tracking service that will keep you updated on the progress.

Sending money to African friends: supported! WorldRemit is the best money transfer service to Africa.


It is the cheapest way to transfer money overseas. The international money transfer app uses peer to peer payments making the rates much less expensive.

It allows you to directly sell your currency to your target country, who will buy at competitive prices.
It also has a live currency tracker that enables you to see how your cash exchanges. It is among the best money transfer service because you can send multiple currencies depending on the deals offered.

Sending money to African friends: supported by CurrencyFair!


Payoneer is the best way to transfer money abroad if your country does not support other money transfer apps, e.g. for sending money out of African countries. It supports several countries and currencies.

Despite the size of the country you are in, you will transfer money abroad.
It is also the best way to receive money from abroad.

Money transfers using Payoneer are free, so if you are looking for how to transfer money overseas without fees, you should consider the app.

Sending money to African friends: supported by Payoneer!


It is known to be the cheapest way to transfer money overseas due to its low fees. It uses interbank rates to transfer money. Therefore, it makes the cost come down to a charge of only 1% of the transfer.
The only disadvantage is that it only operates within a few countries in Africa. Before making any transaction, you should consult to know whether your target country is among those that are legible.

Sending money to African friends: supported by TransferWise!


It is one of the most secure apps to transfer money overseas. The information you provide is safe hence protecting you from any malicious practices when you want to share money abroad.
They have also installed SSL certificates in their programs to increase the security of the app.

It is easy to use the app, making it the best and the cheapest way to receive money from abroad.

It also provides for ten different languages hence can be used in several countries.

Sending money to African friends: supported by Azimo!


PayPal is known worldwide, and it beats all the other peer to peer money transfer apps because of its convenience. It is accessible in many countries and offers different payment methods.
Funds are received instantly into the recipient’s PayPal account. You can transfer money abroad with PayPal since it only requires one to sign in to receive the payment.
Sending money to African friends: supported by Xoom!

Get your personal money transfer app recommendation

Assist me with a quick survey and subscribe to my news and updates straight in your inbox.YES, I WANT TO GET THE BEST APP FOR ME

#7: How Can I Send Money To Someone Instantly?

You can use the apps mentioned above to transfer money instantly to someone.

Not all the apps can be used for international money transfers: United States residents only use the Zelle app.

In the past, PayPal was known to be the most convenient and fastest way to transfer money abroad instantly.

Currently, especially in regards of recipients in African countries, WorldRemitAzimo and Xoom are the recommended money transfer apps for instant transfers.

In my country reports, I describe how it works for each country:

#8: How To Avoid A Wire Transfer Fee
use foreign currency for the cheapest way to send money
Use foreign currency

Before you transfer money abroad, you can change your currency to lower the charges. It may allow you to save due to different conversion rates. You can secure high bonds and only pay expenses for the conversion.

cheapest way to send money: register for repetitive wire transfers
Register for repetitive wire transfers

You can sign up for several wire transfers so that the bank can reduce your transfer fees. You will spend little money when transferring repeatedly. This process will also decrease the chances of error.

cheapest way to send money: use email transfers
Use email money transfers

Email money is one of the cheapest and convenient ways to transfer money. It is affordable and much faster compared to the use of banks. PayPal is the established provider for the services.

cheapest way to send money: send money to a student account
Send money to a student account

The majority of banks do not charge for money transferred to student accounts. You should always check for these waivers, especially for those who send or receive payments from students who are paying their education loans.

#9: Will My Bank Charge Me For Using Transferwise Or Currencyfair?

Yes. When using a P2P marketplace such as Transferwise or Currencyfair, the bank will charge you a small fee to add to your balance to convert between currencies in your account.

It will also charge you a small fee for transfer money from your account to a bank account.

#10: Is It Possible To Get Scammed On A Wire Transfer?

Wire transfer is fast, reliable, and safe for sending money overseas. Many people have used it successfully, making it more trusted.

However, it does not mean that you will not get conned. Con artists are everywhere, waiting for that bad press of a button to steal your hard-earned money.

It would be best if you exercised a lot of caution when trying to wire money to anyone because once you send, you can never reverse the transaction. That is how you easily part with your money.

Below are ways to help you avoid losing money through a wire transfer:

  • Use an excellently reputed money transfer service
  • Mostly, the service you use to transfer the money is not the cause for the con but, it is always advisable that you deal with a reputed international money transfer company.
  • If you want to send money to a stranger, avoid sending large amounts of money at a go
  • Do not send money to strangers
  • Pay late. Scammers give you money transfer deadlines in terms of date. If those dates exceed and they call you to remind you then, you might be dealing with a con.

In this context I recommend you as well my article about money laundering measures in Africa.

#11: How Much Can You Transfer Internationally?

There is no actual limit to the amount of money you can transfer.

When you want to move more than $10,000 abroad or receive the same amount from abroad, you will need to abide by the Laws to protect your money and the interests of the authority.

#12: Best Ways To Transfer A Large Amount Of Money
transfer money abroad: use correspondant banks

Use correspondent banks

It is easier to transfer money abroad using correspondent banks. Some banks are international and have locations in most countries worldwide, making the transfer of large amounts of money accessible and cheaper.

transfer money overseas

Wire transfers

It requires both the sender and receiver to provide proof before sending or receiving the money. These proofs undergo thorough scrutiny before approval. There are no fixed charges; hence can be high depending on the country.

transfer money overseas: use online money transfers

Use online transfers

Online transfers will help you maximize the amount of money you are transferring by checking different exchange rates. Online platforms will allow you to send money to several countries all over the world. Such media include Venstar-Exchange or OFX.

money transfer abroad: international currency check

International currency check

Few money transfer services only offer it. The processing time is slow and, therefore, not a good option for instant sending. It takes at least 20 days for the destination country to credit the amount deposited into the account.


Exposure to how to transfer money internationally is crucial for African origin people who live abroad and especially those that are breadwinners for their families.

Providing for the needs of their loved ones is the main reason why they are struggling to work in the first place.

Knowing that their money will be safe is just equal to knowing that their family members are fully taken care of.

One hence requires having enough knowledge on the best way to receive money from abroad that their recipients can use and the best way to transfer money abroad to their people at home.


Want to be featured on Bizz101? Connect with us on FacebookLinkedInTwitterInstagram and YouTube

He is an amazing artiste – fan declares as Jimbolee goes global with hit song ‘Change’

The premier video for Jimbolee’s international single titled “Change” was released on January 9, 2019.

The debut song from his long-awaited EP was well-received by his fan base, which made several mainstream and internet radio playlists in the Caribbean, Europe, Asia, Africa and North America. 

This youthful energy boosted his street team’s moral and placed Jimbolee’s uncontested efforts to an unparalleled level as a millennial breed of artist that cannot be deterred.  

READ ALSO: Meet Ayeesha Tsotsoo Antiaye, founder of Forever Diva Beauty Spa

Change EP was later released and distributed by Hapilos 21 which is consists of the tracks; Make a Change, Change, Protect Your Life and Worship U Lord.  

We are receiving very positive feedback from our listenership and the dj fraternity.

The hit single “Change” was reportedly the number one audio and video on in Ghana for over 200 weeks.

IrieFM radio station granted Jimbolee a display of his talent on November 25, 2016, assisted in the development of his confidence relative to his music.

Simultaneously, Jimbolee released his much awaited single “Change,” on Big Star Entertainment.

READ ALSO: Funding your business; options available

Additionally, Jimbolee was interviewed on Hype TV on March 7 and Hitz fm Jenny Jenny on March 8th 2019…

“He is an amazing artiste with potent metaphors that creates a strong interpersonal which is evident during his performances,” a fan in Europe exclaimed.

Jimbolee orchestrated a show at his new headquarters in Ocho Rios Jamaica, known as “Country We Seh!” it rocked the local scene and showed signs of longevity.

There is an album called “Love Exposure” that will become available on Hapilos 21 and other affiliate retail distribution music site later on in the year which will set the tone for 2020.

Jimbolee has teamed up with artistes such as Jimmy Riley, Kreative Kendrene, Little Hero and many more.

READ ALSO: You know you are an entrepreneur when…


Want to be featured on Bizz101? Connect with us on FacebookLinkedInTwitterInstagram and YouTube

BilthMoment: Business Model, With Peter Tonka

Peter Tonka is a young gentleman who holds a degree in Business Administration Marketing from the University of Education Winneba Business School.

He is a marketer by profession and a singer by calling.

Tonka is a self-taught graphic designer, MC, Events Consultant and a ghost(anonymous) counselor.

Peter Tonka

READ ALSO: Media Literacy, with Emmanuel Appiah Gyasi

This is why he is the CEO of three fast-rising companies: Goglo, Hilltop Publication and Petals Gas.
He has achieved a lot of amazing successes, which is kind of mind-boggling because of his young age at every accomplishment.

As a teacher in one of the renowned basic private schools (Happy Child Learning, Centre) in the Northern Region, he rose to become a headmaster in 5 months only with an SHS certificate.

He has held and still holds several leadership positions in some associations.
He is not married and has no child.

READ ALSO: Conducting market research, with Enoch Kabange

He has been serving as the deputy procurement officer at Baptist Medical Centre, Nalerigu even before he completed his university education.
This gentleman is a good listener and always wants to try new things out.

He loves YouTube, LinkedIn, Tedx and Adobe Creative Cloud; he is a lovely person.
Mr. Tonka set the ball rolling by first acknowledging Bilth Studio for the opportunity and wondered how he was going to squeeze a topic that took him years of experience into an hours presentation and asked for God’s help.
He also admonished the members when he said, “I want to believe that due to the numerous presentations deliver, a good number of us in this group are now business owners or probably starting a business. If you haven’t done any of these yet, then I plead that you join a startup.”

READ ALSO: Writing a Business Plan, with Frank B. Yeboah
He continued by saying that understanding the problem you are solving for your customers is undoubtedly the biggest challenge we’ll face when starting a business. Customers need to want what we are selling and our products need to solve a real problem.

But ensuring that our products fit the market is only one part of the coin, the other side is figuring out how you’re going to make money and this is where the business model comes in. 
What is a business model?
“At its core, your business model is a description of how your business makes money.

It’s an explanation of how you deliver value to your customers at an appropriate cost.

Simply put; the business model refers to a company’s plan for making a profit.

It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses.”
According to Mr. Tonka, business models are important for both new and established businesses.

It helps new businesses to attract investment, recruit talent and motivate management and staff.

READ ALSO: Finding a co-founder, with Joseph Yaw Mawunyo

Established businesses should regularly update their business models or they’ll fail to anticipate trends and challenges ahead.

The business model also helps investors to evaluate companies that interest them.
“A business model is a high-level plan for profitably operating a business in a specific marketplace” he added. 
According to Joan Magretta in “Why Business Models Matter,” the term ‘Business Model’ came into wide use with the advent of the personal computer and the spreadsheet.

These tools let entrepreneurs experiment, test, and, well, model different ways that they could structure their costs and revenue streams.

Spreadsheets let entrepreneurs make quick, hypothetical changes to their business model and immediately see how the change might impact their business now and in the future.
In their simplest forms, business models can be broken into three parts:
1. Everything it takes to make something: design, raw materials, manufacturing, labor, and so on.
2. Everything it takes to sell that thing: marketing, distribution, delivering a service, and processing the sale.
3. How and what the customer pays: pricing strategy, payment methods, payment timing, and so on.

“As you can see, a business model is simply an exploration of what costs and expenses you have and how much you can charge for your product or service.

A successful business model just needs to collect more money from customers than it costs to make the product.

What most of us are so much interested in. This is your profit—simple as that” he continued. 

READ ALSO: Profit or Wages, with Phillip Mensah
New business models can refine and improve any of these three components. Maybe you can lower costs during design and manufacturing.

Or, perhaps you can find more effective methods If marketing and sales. Or, maybe you can figure out an innovative way for customers to pay.
“Keep in mind, though, that you don’t have to come up with a new business model to have an effective strategy.

Instead, you could take an existing business model and offer it to different customers. For example, restaurants mostly operate on a standard business model but focus their strategy by targeting different kinds of customers” he added. 
*The different kinds of business models*
You don’t have to invent an entirely new business model to start a business. In fact, the vast majority of businesses use existing business models and refine them to find a competitive edge.

READ ALSO: Business Idea generation, with Nii Ayitey Hammond

Here’s a list of few business models I think you can use to start your own business. Or maybe grow an already existing business. 
1. Advertising:

The advertising business model has been around a long time and has become more sophisticated as the world has transitioned from print to online.

The fundamentals of the model revolve around creating content that people want to read or watch and then displaying advertising to your readers or viewers.

In an advertising business model, you have to satisfy two customer groups: your readers or viewers, and your advertisers.

Your readers may or may not be paying you, but your advertisers certainly are. This is why I can’t afford to miss a post from Bilth Studio, they get me what I want to see; especially contents about movies.

They’re the reason I watched Money Heist.

An advertising business model is sometimes combined with a crowdsourcing model where you get your content for free from users instead of paying content creators to develop content.
The talk of CBS, The New York Times, YouTube are good examples.

READ ALSO: You know you are an entrepreneur when…
2. Affiliate:

The affiliate business model is related to the advertising business model but has some specific differences.

Most frequently found online, the affiliate model uses links embedded in content instead of visual advertisements that are easily identifiable.

For example, if you run a book review website, or an inspirational website like WordInspired by Enock Kabange you could embed affiliate links to Amazon within your reviews that allow people to buy the book you are reviewing.

Amazon will pay you a small commission for every sale that you refer to them.
3. Market place:

Market places allow sellers to list items for sale and provide customers with easy tools for connecting to sellers.
The marketplace business model can generate revenue from a variety of sources including fees to the buyer or the seller for a successful transaction, additional services for helping advertise seller’s products, and insurance so buyers have peace of mind. 

The marketplace model has been used for both products and services. Examples: eBay, Tonaton and OLX.

READ ALSO: Will the customer keep you in mind?
4. Franchise:

Franchising is common in the restaurant industry, but you’ll also find it in all sorts of service industries from cleaning businesses to staffing agencies.

In a franchise business model, you are selling the recipe for starting and running a successful business to someone else.

You’re often also selling access to a national brand and support services that help the new franchise owner get up and running.

In effect, you’re selling access to a successful business model that you’ve developed.Examples: KFC, McDonald’s.
“Successful businesses have business models that allow them to fulfill client needs at a competitive price and a sustainable cost.

Over time, many businesses revise their business models from time to time to reflect changing business environments and market demands” he added. 
“When evaluating a company as a possible investment, the investor should find out exactly how it makes its money.

READ ALSO: Your business idea

This means looking through the company’s business model. Admittedly, the business model may not tell you everything about a company’s prospects.

But the investor who understands the business model can make better sense of the financial data” he continued. 
“A common mistake many companies make when they create their business models is to underestimate the costs of funding the business until it becomes profitable.

Counting costs to the introduction of a product is not enough. A company has to keep the business running until it’s revenues exceed its expenses” he explained.
 Criticism of Business Models
Joan Magretta, a former editor of the Harvard Business Review, suggests there are two critical factors in sizing up business models.

When business models don’t work, she states, it’s because the story doesn’t make sense and or the numbers just don’t add up to profits.It’s like carrying a dead goat for sale. 
Consider a comparison of two competing business plans where two companies rent and sell movies.

READ ALSO: Africa: Yesterday, today and tomorrow

Bilth Studio in my mind though, I think I am seeing far. 
Both businesses made Ghs 5 million in revenues after spending Ghs 4 million on their inventories of movies.

This means that each company makes a gross profit calculated as Ghs 5 million minus Ghs 4 million, or Ghs 1 million.

They also have the same gross profit margin, calculated as 20% of gross profit divided by revenues.
But things change with the arrival of the internet and subsequently COVID-19. Company B decides to stream movies online instead of renting or selling physical copies.

This change disrupts the business model in a positive way.

The licensing fees don’t change, but the cost of holding inventory goes down considerably.

READ ALSO: The journey of an entrepreneur

In fact, the change reduces storage and distribution costs by Ghs 2 million. The new gross profit for the company is Ghs 5 million minus Ghs 2 million, or Ghs 3 million. The new gross profit margin is 60%.

Meanwhile, Company A fails to update its business plan and is stuck with a lower gross profit margin.

As a result, its sales begin to slide downwards. Company B isn’t even making more in sales, but it has revolutionized its business model, and that has greatly reduced its costs.
On this note, he concluded his presentation and answered members’ questions. 
Join us every Saturday and Sunday, 7pm for our live sessions. WhatsApp us on +233595863409.


Want to be featured on Bizz101? Connect with us on FacebookLinkedInTwitterInstagram and YouTube

BilthMoment: Media Literacy, With Emmanuel Appiah Gyasi

Emmanuel Appiah Gyasi has accumulated four years of experience in teaching and about six years of experience in community work and volunteerism.

Emmanuel is currently an administrative assistant at the Department of Applied Linguistics, University of Education, Winneba, where he assists in the day-to-day office administration.

He is also a language and communication strategist, language teacher,  presenter, event production manager, actor, voice-over artist, a volunteer news reporter at Radio WindyBay and a budding linguist.

Emmanuel Appiah Gyasi

READ ALSO: How to conduct market research, with Enock Kabange
Emmanuel is a graduate of the University of Education, Winneba with a Bachelor of Arts degree in English Language Education and Applied linguistics focusing on English Language teaching and application of general language concepts.

Emmanuel Appiah Gyasi is very passionate about youth skill development, education and mentorship, gender equity and reduced inequalities, hence driven by the desire to achieve higher knowledge and advanced skills in interpersonal relations.

Emmanuel plans to impart further his acquired skills and knowledge in his immediate community, country, Africa and the world at large.
Mr. Appiah started his presentation by stating the form of his presentation and the three parts it will take; introduction, main presentation and conclusion.
“So Jerry John Rawlings is the best president in the world and of course Banku and okro stew is the best meal in the world,” he said, and set the room on fire. 

READ ALSO: Writing a Business Plan, with Frank Yeboah
He continued by saying that in an ever-growing world where information flies in from left right and center, it’s important for one to know how to handle information and handle it better. 
The term ‘media’ as used in this context involves news, information, articles and all other things we read, listen to or watch, as well as the things we read on social media.

“I will be taking us through some three key things one can do to a piece of information once you receive it from wherever or whoever” he added. 
We all get them; messages containing the latest news, opinions and gossip. Either from friends, family, or co-workers.

From official and unofficial sources. Often times, depending on the information and who or where it’s it’s coming from, the urge to pass it on can be hard to resist.

But should you?

In this series, we’re going to talk about why, when it comes to information sharing, we should all stop, reflect and verify”  he continued.

READ ALSO: Finding a co-founder, with Joseph Yaw Mawunyo
The first thing to do when you receive a message is to STOP and ask why the message was shared, who it is coming from, what the content is and what it is meant for, all in the context of what is happening around you.

So first you have to stop when you receive the message. STOP and question the content, examine the timing of the content and what it seeks to benefit” he added. 
The next step is to REFLECT on the content or message you have received. 
To reflect means looking beyond where the message was sent from and look beyond the headline, font and designs that the story comes with.

“So in reflecting, what we do is take our time to actually read what we have received. Read to identify either what you’ve received is a fact or just an opinion before sharing” he added. 
He continued to say that our ability to distinguish between a fact and an option helps us to determine whether the content we have received is good content or not.

READ ALSO: Profit or Wages? with Philip Mensah

“To reflect means to read the entire content and look out for facts, opinions, viewpoints, voices, etc” he added. 
The third key thing to do is to verify. Having stopped and reflected on the shared information, you must now verify what has been shared with you.

“To verify means to authenticate, have a second look and make sure what you are reading is credible” he continued.
Verification can be done by looking at the creator of the content, the date and the institution or organisation the content relates to.

‘”Again, in verifying, you can visit the popular news portals or outlets to see if they are reporting the same thing” he added. 
So verification is important as it climaxes the entire activity. As information consumers, it’s important to take a critical look at the things we share especially because we cannot do without information.

If nothing at all we get informed on what’s happening around us. Information sharing has become an integral part of our lives and our knowledge of media literacy is something that will enable us to survive in this new world.

READ ALSO: Generating business ideas, with Nii Ayitey Hammond


Want to be featured on Bizz101? Connect with us on FacebookLinkedInTwitterInstagram and YouTube

BilthMoment: Conducting Market Research, With Enoch W. Kabange

Enoch W. Kabange is a young ambitious man who is the CEO & founder of two companies, WordInspired Media and Alien Media. 

Alien Media helps businesses and brands create digital assets which can deliver them higher visibility and enable them to grow like never before.

Enoch Kabange is a dream chaser who has gained a wealth of knowledge in entrepreneurship and personal development over the past years through self-education. 

Enoch Kabange

READ ALSO: Writing a good business plan; steps to follow

Enoch Kabange is a website designer, Brand Strategist/Consultant, Digital Marketer and A Writer. 

His mission is to inspire millions of people to become entrepreneurs by motivating them to their greatness that resides within them.

Mr Kabange started by outlining the objectives for the session; 

  • What is Market research?
  • Why you should do Market research 
  • 6 steps to doing your own Market research right now.

“Doing business without advertising is like winking at a girl in the dark. You know what you are doing but nobody else does.”

– Steuart Henderson Britt

READ ALSO: How to settle on the perfect co-founder

“I’d like to start by asking if this quote rings any bell?

Maybe you’ve winked at your crush before or did something crazy in the past. The quote has two sentences.  The first emphasizes the importance of advertising. But I’d like to focus on the second part” he said.

You know what you are doing but nobody else does – Steuart Henderson Britt

According to Mr. Kabange, most businesses are operating in this manner.

They know what they’re doing but nobody else knows.

Their products and services are developed in a vacuum and offered in a vacuum.

But the market doesn’t operate in a vacuum; It is made up of  markets. 

“The markets determine what’s valuable and worth paying for” he added. 

“So why would you spend months and even years developing something without seeking the views of the people you are making it for?” He quizzed. 

READ ALSO: Profit or wages? Strategies to shape your financial future

We hope entrepreneurs don’t act in this manner, especially those on the Bilth Centre WhatsApp Group. This is why we bring our members these sessions.

 How do you determine the language to use in your advertising?

How do you decide on a pricing structure or strategy?

How do you even tell if the millions you are investing in a new product will sell?

Market research helps you Answer all this and even more. 

What Then Is Marketing Research?

According to Hubspot, market research is the process of gathering information about your business’s buyers personas, target audience, and customers to determine how viable and successful your product or service would be among these people.  

“Market research can be as complex as you need spanning months or even years or simple spanning a few weeks whatsoever” Mr Kabange added.

According to him, it could be expensive or not. “My point is, you don’t need to spend lots of money to gain information from your customers. You could simply ask for feedback after service” he added. 

READ ALSO: Strategies to generate the perfect business idea

There are two main types of market research 

1. Primary Research 

2. Secondary Research 

Depending on your budget, goals and objectives one may be better than the other.

Mr Kabange continued by saying Primary Research is used when you need first-hand information.

Secondary Research is when you need a rough idea of what’s the state of your market.

So you basically obtain data and insights from already done research such as checking for consumer data etc.

You may have already gleaned some benefits of market research from the session so far but I’d like to bring up a few good ones.

You may be able to get analytical data from your social media,  ads, and even your websites 

But data can’t explain it can only tell you what’s happening.

READ ALSO: You know you are an entrepreneur when…

For instance, if you have an e-commerce business, you can get data on a drop in sales but you can’t get the exact pinpoint reason why so

You can do a research and observe that it’s because you changed your website colors. The psychology of the color wasn’t great for your niche hence you have to change.

 But until you do such research, you won’t know why.

Therefore you’d keep winking in the dark hoping to get noticed.

Another reason to do research is that you don’t want to run your business based on best guesses

Sometimes even working with best practices can detail your business especially when customer needs are changing and you are acting based on old customs.

So you want to be up to date on every change in the market

The last point I want to bring up on benefits is that

How do you determine whether your crush likes a food wink or she prefers a flower? How do you even know anything up until you do some research?

Until you do any research, you won’t know anything for sure.

READ ALSO: Will the customer keep you in mind?

Therefore research helps you plan and create strategies based on facts collected from your target market. 

So how do you get started in your own small way? 

As i said, market research doesn’t have to be complex, expensive or take years. This is mostly the case of big multinational conglomerates. 

The internet and research methods now even allow the most sophisticated research to be done under budget.

 I’ll take you though 6 steps to getting started

 How To Do Market Research

1. Define your buyer persona.

2. Identify a portion of that persona to engage.

3. Engage your market research participants.

4. Prepare your research questions.

5. List your primary competitors.

6. Summarize your findings.

READ ALSO: A burning desire; the case of the African entrepreneur

One thing about research is that you must speak or interact with the right person, else all that you’ve done is futile.  

So you need to spend some time interacting with your customers, finding out their individual characteristics as well as their collective characteristics. 

Their names, their locations, their interests, occupation and estimated income, because they need to spend from it to buy your products or services.

Depending on your objectives or your sampling techniques, you then select a portion of that base to engage

Thirdly, you engage them.

You can do it through polls

A simple Twitter, Facebook etc poll will help you understand some of the things you need.

READ ALSO: Funding your business; options available

You can also create a survey through Google docs, survey monkey, etc 

There are lots of free survey design platforms to play with

 You can also create focus group discussions where you have a moderator controlling the discussion in a group of your target audience

 You can use several other ways to reach them.

For ecommerce guys, you can add short questions on your pages

You’d like to check out HotJar

For determining which parts of your website gets the most attention through the computer mouse movements etc.

But of course, you need to design some questions before engaging them.

Keep it simple and short. Ask direct questions and avoid ambiguity. Ask one question at a time. A few tips to designing the questionnaire

Depending on the audience, you may need to give them some incentive like a discount etc.

So basically this is the structure of the Market Research process.


Want to be featured on Bizz101? Connect with us on FacebookLinkedInTwitterInstagram and YouTube

Find out what works and what doesn’t when it comes to Market Research.

BilthMoment: Writing A Business Plan, With Frank Yeboah

Mr Frank Yeboah is a young sales and marketing professional with experience in E-commerce, Insurance, Ride-hailing and Tangible Miscellaneous.

He currently works with Bolt as an Operations Specialist. He is passionate about sales, skills and talent education.

He loves football, Chinese movies, Hindi Movies and Comic Movies. He started his presentation by saying we all have ideas we want to materialise.

“However, not all of us are able to make meaningful progress. This is large because of the fact that most of us do not put our ideas on paper.

Frank Yeboah

READ ALSO: BilthMoment: Finding a co-founder, with Joseph Yaw Mawunyo

The difference between the winners and losers in this regard is the Business Plan” he added. 

What Is A Business Plan:

A business plan is a written narrative that describes what a new business intends to accomplish and how it intends to accomplish it.

“A business plan reveals the business’ ability to solve a significant problem, or meet a significant want or need for which someone will pay a premium” Mr Yeboah continued. 

“Honestly, without a plan, we’re only existing and not living.

So a plan is very important in every dimension” he added.

Content of the business plan should be clear and should give important information on all aspects of the venture.

READ ALSO: BilthMoment: Business Idea Generation. with Nii Ayitey Hammond

Format Of A Business Plan:

1. The Executive Summary

Compress the whole idea and everything relating to it into the executive summary.

“In the executive summary, describe the business concept, the opportunity and the strategy.

Thus, what you want to do, the need to do it (opportunity) and how you intend to do it” he added.

If you want to start school;

Your business concept is about parents enrolling their wards to acquire knowledge at a fee.

The opportunity/problem is that children must mature at a certain level of intelligence to solve personal and societal problems as and when they arise, which probably from your research hasn’t been the case over a period; hence, the opportunity to start school.

Then you continue with how you intend to fix the problem or how to explore the opportunity. Are you using an online strategy or face-to-face interaction? 

Also talk about your target, the advantages you have over your competitors if any. Touch on the costs and mention the team.

READ ALSO: You know you are an entrepreneur when…

2. The Industry, The Company And Its Product(s) Or Service(s)

Here, he asked that we give an insight into the industry our business falls within.

And talk about the key variables in the industry. “If it is education, you can talk about quality, duration, etc. If it is Telcom, you can talk about speed, access etc” he added.

“Then you move on to talk about your company properly. The products and services you are offering.

At this level, you also make clear your entry and growth strategy. If it is a school, are you entering the market with only nursery, primary or both? And how do you plan to expand and grow?

Will you venture into collaborations with other schools so your students graduate to those schools, or you will embark on an internal growth campaign and expand your reach to factor in JHS and SHS” he continued. 

3. Market Research And Analysis

He said it is a fact that even with the best idea, we need to do research in order to justify our stand scientifically and we can’t avoid this as entrepreneurs. 

So at this level in the plan, we do the following;

Clearly give information about our market research. 

What did potential customers say about our idea?

What is the size of the market and what are the trends in the market?

Who are our competitors and what makes us better than them?

Our estimated share of the market based on our offerings.

READ ALSO: Will the customer keep you in mind?

4. The Economics Of The Business

“Over here you explain the profit potential of the business. Is it likely for the business to make profits in the long run? Will you break even in the short run?” he quizzed. 

He continued to ask what our fixed costs and variable costs are. (Cost of Land, electricity, rent, water etc)

“Also which months are your peak periods?” he added. 

Clearly making this information available in the plan actually makes it very simple for investors to make financial commitments.

5. The Marketing Plan

What is your overall marketing strategy?

Full visual strategy, full hearing strategy or both?

Visual means marketing strategies appealing to the eyes. Hearing means marketing strategies appealing to the ears.

Which pricing strategy will you use?

Low to high or high to low? What are your key sales tactics?

6. Design And Development Plan

 No one wants to remain the same. It’s the same with a business. 

“Here, you talk about how you intend to develop as a company.

Make mention of product improvements or replacements as well as the potential to introduce new products.

Also, the costs involved in such development projects” he said. 

READ ALSO: A burning desire; the case of the African entrepreneur

7. Manufacturing Or Operations Plan

Talk about your manufacturing process if you’re into manufacturing; talk about the operational process if otherwise.

“This should cover the source of production materials till they are transformed into the finished product or the start to finish of your operations, he added.

Example: If it is a school, talk about the beginning class, transitions and completion.

Also under the operational, you should talk about your geographical location, facilities, regulations and legal issues. (Indicate if you’re regulated by special bodies, eg, FDA, GES, BoG, DVLA, etc)” Mr. Yeboah continued. 

8. Management Team

  • Show your organizational structure
  • Identify key management personnel.

9. Overall Schedule

Basically, schedules to show major events to be undertaken to launch the venture. They are normally referred to as the critical deadlines

 10. Critical Risks, Problems And Assumptions

“There are risks associated with running a business. I will define a few that should be included here” he said.

  1. Management Risk: This is basically the risk that managers will make faulty decisions which will negatively affect the business.
  • Marketing Risk: The risk of potential losses and failures of marketing.
  • Operating Risk: The level of uncertainty associated with the core operations of the business.
  • Financial Risk:  Possibility of losing money on an investment or business venture.

These are the key risk areas that are normally included in the plan.

READ ALSO: Funding your business; options available

11. The Financial Plan

Have a projected income statement or profit and loss account as well as a balance sheet.

“Put all the costs and expenses in a unified financial structure and present under this section. Not forgetting cash inflows as well” he added.

12. Proposed Company Offering

Normally, the Business Plan is to secure funding from investors. So we have to offer value to investors in return for their investment.

The value here means an attractive deal to investors. 

Here we make our investors a deal they can’t refuse. Our proposal should state the amount of money we want and a brief description of how we plan on using the capital available.

13. Appendices

Show important documents

Supporting Documents

CVs of the founder(s), Picture of products or prototypes etc. 

Machines to be procured if necessary, etc.

READ ALSO: BilthMoment: Profit or Wages? With Philip Mensah


Want to be featured on Bizz101? Connect with us on Facebook, LinkedIn, Twitter, Instagram and YouTube

12 Bitcoin remittance providers you should know in Africa

Bitcoin based Remittances and Their Benefits to African Customers

By: Jens Ischebeck

‘Today I want to talk with you about bitcoin remittance providers. Why?

Although the leading cryptocurrency Bitcoin could be facing crackdowns in various regions in the world, it is experiencing a surge in the African remittance market.

It isn’t affected by geographical variations since its transactions are stored in a blockchain database.

Source: Blockchain News

READ ALSO: The ultimate guide about bitcoin remittances for Africans

The main difference between cryptocurrencies and MasterCard or visa is that it isn’t regulated by the government and doesn’t require intermediaries, and the transactions rely on the internet; thus can take place at any part of the world.

Remittances have become a common way of life in most African countries since there is an increased number of immigrants in search of better wages.

These workers will, at one point in their lives, want to transfer money to their families and friends back in their home countries.

The situation leaves most people at the mercy of various financial institutions like banks and money transfer operators who charge a very high fee.

However, the cryptocurrency and blockchain technology offers high hopes in an attempt to transform the African remittance industry in favor of migrant workers and their families.

Today, Bitcoin operates as a medium of money transfer allowing users to evade the high charges by traditional money transfer services.

READ ALSO: Funding your business; options available

Comparison Between the Traditional and Bitcoin-based Remittances

In the ancient model, for example, when a USA based migrant worker needs to send money to his family in Africa, he visits a money transfer operator and hands over the cash.

The transfer agent then starts to process the transaction at the current exchange rate and must charge for the services.

Generally, the agent works as a third party conversant with the transfer software and services from a remittance software provider like a Western Union.

Since he lacks the financial capabilities and relevant software system, he only gets a fraction of what the customer pays, and a considerable amount goes to the remittance provider company.

Additionally, the agent needs to settle some subscription fees for system installation and maintenance.

Thus, he must increase the overall cost to the end-user to meet his financial obligations. Besides, inexactness in the exchange rates also affects the client in the form of unfavorable rates.

On the other hand, the crypto remittance companies facilitate better cross border payments through a great internet connection and a simple software system compatible with various devices.

Therefore, the money transfer agents can perform the transactions without additional installation, maintenance, or subscription costs.

The blockchain technology then records the transaction details and anti-money laundering necessities in a database for security purposes.

The business operations in these companies involve estimating the amount of money required for particular remittances in a day.

They then purchase an equivalent bitcoin and later sell the crypto in the fiat currency in the recipient nation.

READ ALSO: Africa’s tourism story; a well-kept secret

Cryptocurrency’s Popularity in Africa:

The soaring rise in mobile phone use in most African countries is helping entrepreneurs compete with other money transfer services with high remittance rates and fees.

The crypto use has increased in Botswana, Ghana, Kenya, Nigeria, South Africa, and Zimbabwe. Additionally, cryptocurrency is gradually gaining ground in Uganda.

According to Google trend data, Lagos in Nigeria has the highest volume of online search for Bitcoin.

It results from the frustrations of existing money transfer services, which bars the citizens from receiving money from their families overseas due to the countries fraud reputation.

As a result, numerous innocent people are suffering and have to use alternative services with a high fee to receive financial help.

Recently, most of them have embraced cryptocurrencies as a perfect solution. Citizens of countries battling with high inflation rates are likely to opt for crypto as a substitute for their disastrous banking policies.

Some of the countries with high inflation rates include Egypt, Ghana, Mozambique, Zambia, Zimbabwe, and Malawi and are among the leading bitcoin economies in Africa.

Another significant factor spurring crypto growth in the continent is the inability and powerlessness of the governments to regulate Bitcoin.

Fearing the collapse of the banking sector and misappropriation of funds by the African governments, most citizens seek crypto transactions. The South African Luno exchange was developed in 2013 and has attracted more than 1.5 million users worldwide.

Additionally, the Kenyan Bitcoin Remittance Provider Bitpesa facilitates transactions in African and international locations with high trading volumes contributed by the lucrativeness of the business.

Other Bitcoin Remittance Providers include Abra, operating in Morocco and Malawi, BitMari in Zimbabwe, and Geopay in South Africa.

Surprisingly, some governments have shifted into the virtual currency terrains with Tunisia’s government issuing the eDinnar digital currency.

As stated by the Hootsuite’s 2019 global digital yearbook, 10.7% of South Africans own crypto, with Nigeria at 7.78% and 7.3% for Ghana.

READ ALSO: Top tips for starting your own business

Reasons Behind Crypto Popularity in most African Countries:

Most African citizens have started shifting their hopes to the use of crypto to escape numerous constraints faced with the traditional money transfer services, including cost, speed, and inconveniences.

The main benefit is the overall lower cost to the end customer, which allows migrant workers to send substantial amounts of money to their loved ones in their home countries at fairer prices.

Also, there is a high unpredictability in the local currencies in most African countries; for instance, when the South African rand became a volatile currency, most people switched to crypto to seek security.

The transaction is safe, and the companies don’t hold the virtual currency for more extended periods; thus, the operation takes a short time.

Some Africans have also lost trust in their local banking systems, for example, in Zimbabwe where they have experienced hyperinflation, Bitcoin is very popular, and at times demand surpasses supply.

Due to the instability and shortages, most Zimbabwean citizens are flooding the crypto markets as they believe Bitcoin is more trustworthy.

Besides the financial inclusions and local currency volatility, there is a vast unbanked population in the continent since others in remote regions lack access to bank accounts.

Mobile money is a critical driver in reducing the number of unbanked individuals; thus, Africa is better prepared to shift into the crypto world than any other continent.

Most citizens are already open to adopting crypto technology, and crypto exchanges that offer mobile functional apps will highly benefit.

READ ALSO: 7 serious mistakes startups make

Bitcoin Remittance Providers for African Countries:

As crypto awareness is on a rapid rise in Africa, more cross border payments are likely to take place with the digital currencies.

Most African migrant workers now put their hopes on bitcoin based remittances to send money to their families at home due to the lower fee, improved efficiency, and speed of the transaction.

A considerable number of crypto-fiat platforms have thus emerged to meet the high demand, and you need to choose the right one depending on location and preferences.

As Bitcoin Guide Africa we present you here the leading Bitcoin remittance providers in operation.

Bitcoin remittance provider, Paxful:

Paxful, a crypto remittance platform founded in 2015, with its headquarters in New York, has since recorded a consistent uptrend in its existence.

It avails most African nationals a chance to send funds to their families back at home since it’s less volatile than most fiat currencies in some countries experiencing higher inflation.

To start transactions, create an account and click “buy bitcoin,” then input the preferred currency and method of payment, state, city, and the bank of your choice.

Search for offers, pick one, and then enter the amount of money you want to trade, you can now converse with your vender through live chat.

Buyers will need to get the name, and the account number of a vendor, then go to the bank, deposit the money, and take a picture of the slip then send it back.

Once the verification process is complete, escrow releases a bitcoin to complete the transaction.

Numerous people from all over the world can now transfer funds and trade bitcoins through the site daily.

It provides several payment methods, including Visa, MasterCard, PayPal, MoneyGram, bank transfer, among many others.

It operates in various African countries including:

• Mauritius

• Algeria

• Egypt

• Rwanda

• Kenya

• Mozambique

• South Africa

• Nigeria

Read more about Paxful: A Comprehensive Guide to Paxful’s Role in Africa or click here to visit the website of Paxful directly!

Bitcoin remittance provider, LocalBitcoins

Jeremias Kangas and his brother Nikolaus formed the Helsinki-based platform in 2012, which allows direct trade between persons.

It doesn’t provide for an overhead corporate; thus, the transaction process is swift and lean.

LocalBitcoin has recorded an increase in the transaction volumes in the African countries for peer to peer transactions.

It provides a safe platform where its users can convert bitcoins into fiat and vice versa and also facilitates funds transfer between African countries.

The platform connects buyers and sellers within a particular geographical area hence the name.

It supports a wide range of money transfer options, including the Mpesa, which makes it popular among most African crypto investors.

It’s the most straightforward platform for beginners who wish to send money to overseas in the operating African country.

You simply need to open a LocalBitcoins account and search for people selling bitcoin-core in your country, then make a bank transfer to the seller, and you will receive fiat cash into your desired local account.

The system offers heightened security by using an escrow mechanism to hold funds and only releases it when both parties come into an agreement.

The platform is available in every African country where buyers and sellers are ready and willing to transact using digital currencies.

Read more about LocalBitcoins: LocalBitcoins in Africa Extensive Guide

Bitcoin remittance provider, Coinmama:

Founded in 2013, Coinmama is operated by New Bit Ventures Limited with its headquarters based in Israel.

The platform provides brokering services for crypto, meaning that they sell you bitcoins directly as opposed to other platforms where you buy from other traders.

It offers multiple options to purchase cryptocurrencies off the platform using credit cards, debit cards, Western Union money transfer, MasterCard, Visa, and cash payments.

For bitcoins transfer using Coinmama, create an account, and submit your documents for verifications to get approved for purchase.

Once verified, you can assess various choices to purchase a certain amount or enter a custom amount.

When you submit your wallet address for order processing, Coinmama’s wallet expedites payment to the required address.

For the credit card orders, it takes a few minutes to process, but SEPA bank transfers will take up to two days.

Their website comes with a step by step guide on how to use their services and offers industry-leading purchase limits convenient for any beginner.

It operates in most African countries, providing simple, fast, usually slightly expensive transfer services.

However, it isn’t available in the following countries:

• Somalia

• South Sudan

• Sudan

• Zimbabwe

• Nigeria

Click here to visit the website of Coinmama!

Bitcoin remittance provider, BitPesa:

Elizabeth Rossiello founded the company in 2013, based in Nairobi, whose initial focus was to facilitate crypto-cash transfer between the U.K and Kenyan citizens but has extended to several African countries.

Today, the platform has gained popularity among importers and exporters across Africa, and it facilitates a smooth trading and remittance services.

Users can send and receive cash in multiple African currencies to pay bills at home and other international currencies to pay overseas suppliers.

It operates by deploying APIs that work with various mobile payment platforms and a chain of bank networks.

Organizations can send payment to their employees’ suppliers or distributors and also collect fees from African customers in local currencies.

To transact, you need to establish a BitPesa account where you can sell or buy virtual currencies such as Bitcoins in the supported national currencies.

If you need to initiate a transaction, then you must deposit Bitcoins into your BitPesa account.

Then, designate a Payee account where the money gets delivered at the current exchange rate.

You then confirm your exchange transaction where the indicated amount of cryptocurrency is transferred from your account and deposited into a designated payee account.

Most people use the platform to enjoy fast, straightforward, and more effortless remittances between international and Africa fiat currencies.

BitPesa operates in the following African countries:

• Kenya

• Uganda

• Tanzania

• Nigeria

• Democratic Republic of Congo

• Senegal

• Morocco

• Ghana

Click here to visit the website of BitPesa!

Bitcoin remittance provider , NairaEx

It is a Nigerian based e-currency exchange platform founded in 2015, which allows users to sell and buy Bitcoin with Nigerian Naira at fairer rates.

Today, it’s a central exchange service platform in the country which operates independently from a mobile payment processing solution.

It facilitates cash payments while cutting a considerable amount of the deposit and withdrawal fee and thus allows users to convert crypto into cash via bank accounts freely.

The transactions with NairaEX are quite straightforward where the sender deposits local currency into the account, then provides a recipient bank detail, and the platform pays it into the beneficiary’s local bank account.

Additionally, users can use bank transfers or deposits to buy bitcoin in Naira through the platform and then use the exchange wallets for payments and can quickly cash out their bitcoins into local currency.

It helps the clients pay school fees, living expenses, and salary or make remittances to suppliers.

The platform aims at providing Bitcoin exchange services exclusively for Nigeria citizens, and that’s why the country’s currency terminology is part of the domain name.

It aims at supporting the country’s numerous unbanked individuals by developing a payment request tool that allows users to accept virtual currency directly from a NairaEX account.

Click here to visit the website of NairaEx!

Bitcoin remittance provider, Hellobit:

The San Francisco based company, founded in 2014, utilizes new digital currencies technology to send money home to families in emerging markets.

It uses bitcoin as the primary medium for cross-border payments and cuts the service remittance fee up to 12 percent.

Through the company’s app, users connect with other currency exchangers, be it individuals, businesses, or large organizations, and one can receive payments in their local currency.

Hellobits integrates the power of cellphone services into the remittance market to improve efficiency in the cross-border payments.

It’s a three-party remittance service where the sender and exchanger need a smartphone while the recipient only needs a feature phone.

The senders logs into the Hellobit account and transmits a bitcoin to the local exchanger.

The platform then notifies the beneficiary via SMS code to confirm if they are the right recipient.

The recipient then receives a location of a place or a person nearby who will exchange the cryptocurrencies for local currency.

It allows people to send money to their friends and relatives anywhere in the world, provided that the recipient can pick up cash from the trusted network of collaborative economy-based exchangers.

Click here to visit the website of Hellobit!

Bitcoin remittance provider, Remitano

Remitano is a peer-to-peer platform that facilitates cryptocurrencies trading in a secure environment.

On the platform, users can purchase Bitcoin in exchange for Fiat currencies at a small fee between themselves.

A Seychelles-based company, Babylon Solutions Limited, owns it and has been in existence since 2015.

For any transaction, you need to create a Remitano account and then scroll down to find a buyer.

Depending on the selected country, cryptocurrencies exchange rates, all buyers and sellers from the specific locations, are displayed.

Enter the amount of crypto you want to sell, your payment account details, then click “Continue”, and the transaction will switch automatically waiting for the buyer to pay. The buyer will then deposit money in the required account and close the deal.

It has encrypted data storage, two-factor verification, and escrow trading to ensure that transactions and personal data are secure.

Remitano mostly works with cash deposits and bank transfers but avails other options in different countries like Wechat and Alipay.

Apart from the web platform, users also access it via mobile applications in Android and iOS powered devices, which facilitate push notifications.

Remitano Services are accessible in the following African countries:

• Nigeria

• South Africa

• Uganda

• Kenya

• Zimbabwe

• Tanzania

Click here to visit the website of Remitano!

Bitcoin remittance provider, Geopay:

GeoPay is a blockchain remittance digital platform that facilitates the flow of remittances from different parts of the world into Africa.

It is a South African based startup, founded in 2014. Users can easily send or receive money via Geopay tellers who are available in and out of South Africa.

The platform has a great user experience that integrates local currency in the emerging markets; thus, making cross-border payments easy and fast.

One is required to download the application on iOS or Android enabled devices and has an option to add a debit card to send money via Geopay.

Transactions go through a network of agents in the informal settings who facilitates settlements for the financially excluded individuals between countries.

It enables people in the diaspora to seamlessly send money to their homeland and saves them on conversions and transfer fees.

Additionally, users can use GeoPay to make merchants payments.

Click here to visit the website of Geopay!

Bitcoin remittance provider, BTCGhana:

BTC Ghana is a bitcoin remittance platform that facilitates the transfer of funds in a secure, fast, and affordable way for Ghanaians and Africans in the diaspora.

It was founded in 2015 with its headquarters in Kumasi, Ghana. BTC Ghana incorporates the blockchain technology into the current mobile money service providers in Africa, to facilitate mobile settlements using bitcoins from developed countries to Ghana.

Users in Europe and the United States can make cryptocurrency purchases via established exchange platforms and send the payment to local remittance platforms such as MTN Mobile Money, AirtelMoney, and TigoCash.

The money then gets transferred to recipients’ mobile money account, and users can pick their funds at local remittance outlets in Cedi without dealing with the complex Deposit and withdrawal methods.

Click here to visit the website of BTCGhana!

Bitcoin remittance provider, SureRemit:

SureRemit is a non-cash remittance platform that uses blockchain technology to assist immigrants to send money back home.

It was founded in 2017 with its headquarters based in Lagos, Nigeria. It doesn’t charge transaction fees when paying for utility bills, groceries, or medical treatment.

Users are at liberty to choose a specific local merchant from whom they can purchase digital vouchers and settle it instantly on the SureRemit platform.

By the use of blockchain, the platform can bypass the usual banking system and connect a consumer to a local merchant at a small transaction fee.

To transact on SureRemit, download the app on either android or iOS powered gadget and present tokens to start making payments.

It’s tied to a specific merchant and is irredeemable for cash; thus cannot be used for money laundering, fraud, or terrorist funding.

SureRemit is looking forward to growing its presence in Africa through its predecessors’ network, SureGift. It provides Remit tokens and has a vast network in various African countries like:

• Rwanda

• Nigeria

• Egypt

• Kenya

• Mauritius

Click here to visit the website of SureRemit!

Bitcoin remittance provider, Circle:

The Circle is a global internet finance company that is built on blockchain technology and powered by Crypto assets.

It was founded in 2013 by internet entrepreneurs Sean Neville, and Jeremy Allaire, and the headquarters are in Boston, Massachusetts.

It has a mobile payment platform, the Circle Pay’s, that enables users to send, receive, or hold traditional currencies.

To send money using Circle Pay, sign in to your account and navigate to the “send tab” then enter the amount you wish to transfer.

Enter a Bitcoin address to choose where you want to send your funds and complete the payment.

There are no deposit or withdrawal charges from bank accounts, insurance, storage, or cryptocurrencies transactions.

Users can register for one account, denominated in their local currency or Bitcoin, for a maximum of two reports.

Click here to visit the website of Circle Pay!

Bitcoin remittance provider, Crowdz:

Crowdz is a blockchain platform that permits businesses to manage, digitalize, and optimize invoices.

It was founded in 2014 by Payson, Severo, Steven Lee, and Hopkins, and the headquarters are in Sunnyvale, California.

Crowdz uses a blockchain-based B2B money transfer service. It uses blockchain as its foundation to automate and speed up transactions, thereby eliminating the process of having to download and key in information into an accounting system.

After transmitting an invoice over the Crowdz invoice exchanges, the digitized data securely and instantly passes to the relevant parties such as employees and clients.

Not only does it make work easier on invoicing, but it also facilitates faster payments, orders, and documents.

All these related transactions instantly become interconnected; thus, making it less stressful.

The company focuses on small and medium-sized firms to boost their growth in the economy and has fully customized solutions for global ventures.

It accelerates the cash conversion cycle by allowing digital payments to overseas suppliers with no international transfer fee.

Crowdz support 24/7 invoice exchange in most countries with Barclay’s bank access.

Click here to visit the website of Crowdz!

Bitcoin remittance provider, Everex:

Everex is a blockchain financial technology firm that enables the application of virtual currency on a peer to peer payment platform to facilitate cross border transactions.

It was founded in 2016, by Alexi Lane with the main office in Bangkok, Thailand.

Everex acts as a link between cryptos and fiat currency by digitizing local currencies into fiat to come up with a costless, transparent, secure, and fast payments system.

Users can convert their money into digital crypto-cash via their local banks and use them on desktop wallets and mobile devices.

The cryptocurrency, therefore, paves the way for Everex to provide micro-lending services without the volatility of traditional cryptos.

Concerns between the capital transfer system and external blockchains are addressed by the Service-Oriented Architecture, which comprises of Blockchain package and Everex –System package.

Everex enables you to make a transfer, pay other people, and trade with any fiat currency anywhere in the world.

The company has developed a global partnership with vendors that accept Everex transactions as payment methods, and users can also withdraw cash through ATMs, retailers, and local currencies exchanges globally.

It has a short settling time with a lower transaction fee and global support in the world’s remittance markets. The platform accelerates access to financial services in underserved financial markets.

Click here to visit the website of Everex!

Bitcoin remittance provider, Metalpay:

Metalpay is a mobile blockchain-based remittance solution that allows clients to send money at better rates with a native reward currency.

It was founded in 2016 in the United States in San Francisco by Marshall Hayner. Consumers can send USD, which is converted to bitcoins, to get a ‘METAL’ reward for every dollar they send or purchase.

The awards can be held as an investment or converted to dollars and sent to another Metal Pay user.

A unique feature with Metalpay is that it has a combined cryptocurrency wallet with traditional financial accounts.

To sign up, you need to link your bank account to the app and ensure you verify your identity and phone number.

The settling takes a short period after verification. For every dollar you receive or sell, you earn MTL that is up to 5% the transaction value.

The rewards are not restricted to sending money but also paying bills like rent or shopping.

Click here to visit the website of Metalpay!

Bitcoin remittance provider, Eversend:

It is a free banking alternative that avails money transfer services while capitalizing on the blockchain technology. It was founded in 2017 in the France capital, Paris, by Fast Track Malmo and Techstars investors.

Their primary focus is on the African customers and those in diaspora all over the world. When using Eversend, you can transfer money to bank accounts and mobile devices.

It enables money transfer from Africa to the rest of the world, in-country money transfer, and intra-Africa crossborder areas. Through their e-wallet, they provide other financial services such as travel insurance, access to cryptocurrency, wealth management, and personal loans.

Eversend delivers a complete digital remittance experience by facilitating international transactions without internet connectivity.

Users only need to link their debit card to Eversend accounts, loaded with different currencies to execute e-commerce settlements. It supports various currencies such as KES, RWF, UGX, GBP, USD, NGN, and EUR.

In Africa, it’s available in:

• Uganda

• Rwanda

• Kenya

• Ghana

• Cameroon

• Tanzania

• Nigeria.

• South Africa

• Swaziland

Click here to visit the website of Eversend!

Conclusion about Bitcoin remittance providers:

Africans working abroad often send money to their families and friends in their home countries to pay for school fees, buy food, clothes, and meet daily expenses or to start a business.

The money is essential for many families in recipients’ countries to help cope with the continent’s unstable economies.

However, a large amount of this money is taken in transfer fees by expensive agents and financial institutions.

While the financial organizations have been charging Africans high fees for these services, bitcoin-backed fiat remittances have become a solace for most overseas citizens due to its speedefficiency, and low price

As more nations adopt virtual currency payment services, Bitcoin may eventually dominate the African remittance market.

The future of crypto-currency based remittances in Africa will depend on the growing rate of mobile phone use and the currency’s freedom from state regulations and banking controls. Send Bitcoin With Paxful Instantly!


  • Email:
  • Phone: +233209856865
  • Social Media:
  • Facebook (BizzAfrica)
  • Twitter (@bizzafrica)
  • LinkedIn (BizzAfrica)
  • Instagram (@bizzafrica)

The Ultimate Guide About Bitcoin Based Remittances for Africans

By: Jens Ischebeck

Bitcoin Remittances refer to the physical act of sending money as a payment form.

Normally, the payments are sent out by foreign workers in far-flung countries looking to ensure that their friends and family members back are well provided for.

But there’s a problem, in that using the traditional methods is not only pricey, but it’s also time-consuming.

Source: Go Legal

READ ALSO: Meet Novat Karol, founder of Elimu Living Lab

Legal entities such as banks and other financial institutions often insist on the use of account-based transfers.

It’s a move aimed at curbing money laundering as well as fighting fraud.

And while there are other options to remit money, e.g., through the use of MTOs (money transfer operators) such as MoneyGram and Western Union, the reality is that their fees are too high.

Enter Bitcoin remittances!

The development and eventual growth of P2P (peer-to-peer) platforms have brought with it numerous benefits for people looking to send money to Africa.

Such platforms allow foreign-based workers to use cryptocurrencies and Bitcoin to support the people they care about. Today, remittance has become a leading real-life use of BTC.

READ ALSO: Motivation Drive: The journey of an entrepreneur

Examples of well established P2P marketplaces are PaxfulLocalBitcoins and Coinmama.

Even though the process of remitting BTC is similar to the one used in traditional methods, the former is faster and far cheaper.

It gets to do away with the red-tape and bureaucracy that is common with traditional cross border payments.

Inward Remittances | Sending money to an African Country

Given that the African Diaspora community can generate a good income, many foreign based workers are always willing to share the money earned with those they left back home.

The money can be for medical purposes or to pay for a bachelor’s degree. When wiring money from abroad to an African country, the process is termed as inward remittance.

Remittances are traditionally a good source of cash flow (foreign) for many developing countries.

READ ALSO: Meet Ed Obi, founder of Ed Obi Fashion House

In 2019, for instance, many countries saw an increase in inward remittances, with some reporting an increase of up to four percent.

That year saw inward remittances to Africa hit the $65-billion mark, with Egypt, Kenya, Ghana, and Nigeria leading the pack.

This particular growth was attributed to a need by immigrants to invest back home, as well as to the notable recovery of economies around the world.

But even as new countries start to adapt to technology that will make it easier to send and receive money, the reality is that it’s still hard to remit money to African countries.

Common methods used to remit money include the use of wire transfers, checks, and online transfers.

Mobile money transfers have also become a popular option with AzimoXoom, and WorldRemit being the most favored. However, this is only good for inward remittances.

The people in Africa can use them to receive money, but they can’t send money to loved ones abroad.

READ ALSO: You know you are an entrepreneur when…

Outward Remittances | Sending Money Out of an African Country and/or Between African Countries

An outward remittance is commonly described as the process of sending money from a native (African) country to a foreign country.

Recent studies have suggested that it’s more expensive to send money abroad or to another country within the African region than it costs elsewhere in the world.

The implication here is that there are too many hurdles which when combined tend to complicate the process of making outward remittances.

Figures obtained from the World Bank have shown that remittances to countries outside Africa, and within Africa from a native country cost around 10 percent of the payment is made.

Fees alone are a hurdle, as it means that the recipient will end up receiving less money than what was initially intended.

READ ALSO: Will the customer keep you in mind?

In other parts of the world, the remittance fee currently stands at 7 percent. This means that it’s cheaper to send money from the US to Ireland than it is to send money from South Africa to Zimbabwe.

Another hurdle comes in the form of excessive regulations put in place by the banking facilities and financial institutions.

For instance, a person sending money from an African country will need to have a bank account from which they can send this money.

While this has been implemented to reduce money laundering, it still ends-up inconveniencing many people.

You have to keep in mind the fact that a large percentage of the African population is unbanked.

READ ALSO: A burning desire; the case of the African entrepreneur

The lack of access to traditional banking facilities means that they can’t use them to make either outward remittances or even receive money from their loved ones working abroad.

And this is where the real benefits of using Bitcoin are left by its users. Bitcoin is not only a fast method of making cross border payments, but it also doesn’t have many restrictions.

No bank account is needed for one to send or receive money. Additionally, its users don’t have to worry about satisfying stringent banking regulations.

All they need is access to an e-wallet, and voila! The benefits of using Bitcoin couldn’t be explained in a more simplified manner than this.

If you want to learn more, read: How Africa could become the crypto continent and Why Africa is the New Frontier for Cryptocurrency


  • Email:
  • Phone: +233209856865
  • Social Media:
  • Facebook (BizzAfrica)
  • Twitter (@bizzafrica)
  • LinkedIn (BizzAfrica)
  • Instagram (@bizzafrica)