Lorraine Marcel: The Kenyan Entrepreneur Teaching African Women about Bitcoin
"Here in Kenya, there's still a lot to be done.”
New podcast episode is out!
Source: Bitcoin Dada website
Lorraine Marcel – popularly known as Marcel – is an entrepreneur who runs her own events management company called LO-RYCE Events. It was during a blockchain event she was managing that she first heard of Bitcoin.
“A certain blockchain company contracted me to organize an event for them. So I did this event and it was at this particular meeting that I heard about the concept of decentralized finance. And of course, as an entrepreneur, this really intrigued me.”
The idea of saving for the long-term, not worrying about inflation, devaluation, high remittance fees, or converting between international currencies when servicing foreign clients intrigued Marcel.
“Either you go at a loss because you feel like you can't charge your client [or] your client bears that burden because they’re sending the money to you but the remittance fees are quite high. So bitcoin is actually helping us, as entrepreneurs…”
Not all entrepreneurs are quick to adopt bitcoin despite the many benefits it may bring. So why did Marcel swiftly adopt it? Maybe because she lives in the technology hub of Africa: Kenya. When you’re surrounded by innovation, it may just be easier to try your hand at new technologies – like Bitcoin.
“We've had this advancement of technology very easy for us, as compared to some of our neighbouring countries.”
Growing up, Marcel remembers a time before the arrival of the technologies we have come to depend on a cellular level (oh, the perks of being a millennial!). Until the arrival of phones, Kenyans in urban areas would communicate over fax. And others by sending letters.
“So it was kind of [an] interesting thing [that] our parents communicate over letters. Having to go all the way to the city to just post our mail.”
Pretty quickly, computers caught up. Marcel and her friends would play solitaire as it was the only game they could play on the computer (even for me, all the way in Venezuela). Then, of course, came the arrival of Facebook and the rest was history.
Marcel’s family was also the only family in her neighbourhood to have a television set. In a grand gesture of kindness, they would invite their neighbours over on Saturday evenings to watch shows together.
“It was really interesting. It was fun, this communal setup. It was like a small village in the urban centres. But right now everybody has all this stuff. So we really don't need each other. You know, as long as I'm in my house, I'm secure. I don't need to know my neighbour. I don't need to know how he's doing.”
Marcel’s got a point.
It’s true that technology brought people from all over the world together, but it also disintegrated the fabric of local societies. Neighbours no longer need each other as they once did. They can now source their groceries, job opportunities, and entertainment online. They can even hold virtual events with someone from the opposite side of the world. While the bigger world has become more interconnected, their local world has shrunk in size.
“I also saw the bad side of [technology] because now we are seeing cases where technology is actually like sort of bringing apart families, you know? That bond that we used to have.”
Today, Marcel is harnessing the power of technology and community-building to help African women become more financially literate and empowered. Last year, she founded Bitcoin Dada – a women centric entity that is educating African women about – you guessed it – Bitcoin.
Through online courses, community events, and social networking, she’s hoping to bridge the gender gap that exists when it comes to financial literacy and opportunities. This, she believes, will change the course of Africa.
(Fun fact: Dada means sisterhood in Swahili).
I wanted to learn more from Marcel so I asked if we could record a podcast episode together. In our conversation, we talked about:
Her experience growing up in Kenya
The wealth gap that exists in her home country
The shortcomings of micro financing projects
How she got into Bitcoin
Why she thinks bitcoin is a unifying currency for Africa, and
Her experience teaching women about Bitcoin through Bitcoin Dada.
She is whip smart, tenacious and hard working. At a time when it can be dangerous to stand up against systems (even in Africa), she is courageous. If there’s one thing you listen to today, let it be this.
Listen to the whole conversation on Spotify or Fountain.
(Below is an excerpt of our conversation which has been edited for brevity. I encourage you to listen to the full conversation here.)
On financial opportunities for women in Kenya.
“You have things that limit women. Things like cultural and societal biases, which also goes to limited access to financial services and resources. It makes women, I would say, less likely to own things, learn, have control over assets. It also makes it hard for women to secure loans and start businesses just because [of the fact] that you are female…
We cannot ignore the fact that we have a significant bias when it comes to financial inclusion and economic empowerment to the Kenyan female.”
On the shortcomings of micro-financing projects in Kenya.
“As much as we have the micro-finance [projects] reaching out, even to the rural areas – and they're doing a wonderful job because they even go to the rural areas – they cannot handle the entire population.
So, we still have a large majority of the population being left out. And then [these micro-financing projects] also come in with certain conditions. Maybe your level of education, [maybe] you need to have a running business for us to actually give you this particular education for your business. You need to have an existing company… So those kinds of conditions also cut out a lot of women.
There's still a lot to be done. Here in Kenya, there's still a lot to be done.”
On the potential of Bitcoin to fix economies and communities.
“The majority of the population in Africa are either unbanked or underbanked and are greatly impacted by the fluctuations of the dollar, as their currencies are tied to it.
Bitcoin has the potential to empower Africa by providing a financial alternative that can help reduce debt, increase economic stability, and reduce dependency on Western control. Bitcoin can potentially facilitate smoother imports and exports by reducing the impact of currency fluctuations.
Again, that goes back to our economy being better which leads to better infrastructure, medical services, education, and even just growing as a community; because I sometimes feel the social challenges that we face — crimes, domestic violence, poor living standards — all these are just somehow attached to our economic status. And when we have an improved economic status then all these tend to minimize.
I believe even as a community in itself, the bond, the growth, will actually be successful with Bitcoin. I truly believe Bitcoin is hope for Africa [adjusted].”
On Bitcoin changing the way Marcel viewed Africa.
“I am seeing Africa and Kenya in a different light with Bitcoin. Sometimes we get so accustomed with our problems that [we] don't even see them as problems. When you're born in prison, you don't see it as prison.
So, when someone comes and opens that door and says ‘hey, you can step out’ and you step out, you realize ‘oh my god, so I was actually in prison.’
Bitcoin is kind of that for me. Initially, I didn't even know things about inflation, devaluation, debasement and how all these factors affect my business, I didn't see it that way.
But when I started learning about Bitcoin I was like ‘my life can actually be better with bitcoin. My business can actually do better with bitcoin. The people around me, my community can actually benefit if they only knew about bitcoin. Africa as a whole can get its own freedom with bitcoin.’
Bitcoin has been a very transformative tool for me, and I believe the people around me, Africans, are the people who actually need it [adjusted].”
On why Kenyan women are getting interested in Bitcoin.
“A lot of women are coming into the realization that they too can own wealth. And they are trying to catch up with the men. And with things like bitcoin, it's actually because women are trying to make that jump [into financial opportunities] and getting into business, buying property, [and] managing their own finances…
Bitcoin opens their eyes to the risks of inflation [and] losing money. I am incredibly bullish about Bitcoin's future, as I see it as a source of hope for Africa. I believe that it has the potential to bring positive change to the continent [adjusted].”
On Bitcoin Dada.
“My project is called Bitcoin Dada. It is a free educational program that is designed to help African [women] learn about Bitcoin in an easy, simple and relevant way.
Our classes are mainly online, but we do have practical sessions, where they learn about wallets – both hot and cold. They also learn how to properly store their sats and general wallet security measures, as well as stuff like Bitcoin mining…
We also have Bitcoin meetups where they get to interact with existing Bitcoiners in person. These meetups are quite interesting for them having to interact with other Bitcoiners, having to talk to them, ask them questions, and listen to their experiences. We also have Twitter spaces where [we talk about the] industry. So basically, that is what Bitcoin Dada is.
I established Bitcoin Dada because of my belief in the power of bitcoin and its impact on my life. I realized that despite its potential, the majority of participants in the Bitcoin community are male. I felt that it was important to have a female presence and representation in the Bitcoin ecosystem, which is why I founded Bitcoin Dada [adjusted].”
**[Adjusted] means Marcel made changes to her speech in order for it to flow and make a bit more sense in writing. The context and meaning did not change.
The dream Marcel has for Bitcoin Dada is nothing short of inspiring. It took my breath away. I hope you will listen to our conversation and consider supporting her incredible work to uplift African women.
Listen to the whole conversation on Spotify or Fountain.
Follow/support Bitcoin Dada:
On Twitter: @dada_bitcoin
Website: Btcdada.com
Marcel On Twitter: @marcelorraine
Geyser Fund: Bitcoin Dada Project
Donate through website: Bitcoin Dada Donate