Bitcoin News Today: AfriBit Launches Bitcoin Financial Inclusion Project in Kibera

AfriBit Africa, a Nairobi-based cryptocurrency startup, has initiated a financial inclusion project in Kibera, one of Kenya’s largest informal settlements. Over 2,000 Bitcoin transactions have been facilitated since the initiative began, offering residents an alternative to traditional banking systems, which remain largely inaccessible in the area. The project, launched in early 2022 by community organizer Ronnie Mdawida, targets Kibera’s 250,000 residents, many of whom have never held a formal bank account [1].

The initiative started with the distribution of Bitcoin-denominated grants to garbage collectors and informal workers, and has since expanded to include 40 local merchants accepting Bitcoin and 120 women and youth trained in upcycling programs that generate Bitcoin-based income. Mdawida emphasized that the project is not about promoting Bitcoin but about demonstrating how overlooked communities can lead a financial revolution using accessible digital tools [2].

Despite Kenya’s leadership in mobile money through services like M-Pesa, which serves over 30 million users nationwide, informal settlements such as Kibera remain underserved. Traditional banks often avoid operating in such areas due to infrastructure limitations and regulatory concerns. AfriBit’s approach allows residents to send, receive, and store value without relying on conventional banking services, enabling cross-border remittances and acting as an alternative store of value [3].

Bitcoin transactions offer residents a way to maintain transaction records and manage value without the need for a bank account. However, economists caution that the volatility of cryptocurrencies poses risks for vulnerable populations. Edward Kusewa of St. Paul’s University in Nairobi highlighted that Bitcoin is exposed to external shocks, making it a potentially unstable asset for daily use in informal settlements [1].

The project has drawn attention for its potential to serve as a model for similar initiatives across Africa. While not explicitly stated in the sources, the early traction of AfriBit suggests that decentralized financial tools could play a growing role in informal economies where traditional systems have failed to reach. The startup is also exploring expansion beyond Kibera, aiming to bring similar services to other marginalized communities in Kenya and potentially across the continent [2].

AfriBit’s model aligns with broader trends in digital finance in emerging markets, where mobile money platforms have already demonstrated the power of financial innovation. By operating independently of traditional infrastructure, the startup highlights the disruptive potential of blockchain technology in the financial sector [3].

Sources:

[1] The Crypto Times, [https://www.cryptotimes.io/2025/08/22/kenyan-crypto-startup-brings-bitcoin-financial-services-to-kibera-slums/](https://www.cryptotimes.io/2025/08/22/kenyan-crypto-startup-brings-bitcoin-financial-services-to-kibera-slums/)

[2] Crypto News.net, [https://cryptonews.net/news/bitcoin/31475872/](https://cryptonews.net/news/bitcoin/31475872/)

[3] WINN Media Evening Newscast August 20, 2025, [https://www.facebook.com/WINNFM/videos/winn-media-evening-newscast-august-20-2025/782922750760660/](https://www.facebook.com/WINNFM/videos/winn-media-evening-newscast-august-20-2025/782922750760660/)