Gluwa Explores Plans for Financial Programmes in SL

Freetown, Sierra Leone, April 4th, 2024, Chainwire

Gluwa has initiated conversations on exploring opportunities to further enable Sierra Leone’s citizens to engage with the digital global economy. Gluwa’s CEO, Tae Oh, visited Sierra Leone’s Vice President Mohamed Juldeh Jalloh in a preliminary visit to introduce the potential for collaboration.

Vice President of Sierra Leone, Mohamed Juldeh Jalloh pictured with Tae Oh, CEO of Gluwa, Akin Jones, Director of Gluwa and Kay Jegede, Associate Director of Gluwa.

Gluwa described its plans to Vice President Jalloh - who is well-versed in the nuances of digital currencies, as advanced forms of mobile money transaction programmes directly operated by countries’ central banks. Unlike existing mobile money systems, which are confined to local operations due to their reliance on local phone numbers, the proposed financial programme for Sierra Leone aims to facilitate global transactions. This would enable its citizens to engage in financial activities beyond their borders and increase their access to international opportunities.

Gluwa, known for its blockchain innovations such as Credal, which powers public blockchain networks, emphasized the importance of addressing the country’s internet accessibility issues, particularly in rural areas of Sierra Leone. Recognizing the importance of reliable internet connectivity for the successful adoption and use of a central digital currency for wider digital opportunities, Gluwa’s CEO shared proposals centered on the implementation of a satellite-based Internet Service Provider (ISP). Gluwa’s ISP solution would aim to extend coverage to the most remote regions of Sierra Leone to help them benefit from new digital innovations to increase financial accessibility.

In case you missed it, catch up on Gluwa’s recent announcements:

About Gluwa

Gluwa is a pioneering L1 blockchain platform designed for the documentation and matching of credit transactions. It establishes a public ledger that records credit histories and loan performances, setting the stage for a new era of interoperable cross-chain credit markets. By collaborating with technology partners and fintech lenders, such as Aella, and engaging with financial institutions in global emerging markets, Gluwa’s Creditcoin framework is facilitating capital financing, building credit histories, and fostering trust among millions of financially underserved individuals and businesses, guided by the principles of Real World Assets (RWA).

Press Contact

Director of Marketing
Alan Kong
alan.kong@gluwa.com