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How Digitally Driven Solution “Tajiri” Will Solve Major Economic Problems In Nigeria

A digitally driven project, “Tajiri” which is channelledtowards empowering African youths and small scale businesses in Africa was recently launched in Lagos, Nigeria.

The Tajiri initiative is driven by the need to help the livelihoods of people especially young Africans, women and SMEs in Africa grow to the capacity in which they can drive the economy.

One of the co-founders, Mr Kabiru Abiola, in a presentation held on Sunday, July 4, 2021 describe Tajiri as a Global Decentralized Economic Ecosystem – Built for Africa. He mentioned that, “to solve all other problems of Africa, we need to first solve the economic problem.

It is easier to do business with people outside the African continent than countries within Africa because there are problems of cross-border payments and remittances, he lamented.” We are in an economy that should better help people’s livelihood however,people wake up and resume on the roads as beggars – due to massive rising unemployment rate.

He also mentioned that there is need to build an ecosystem to ease access to financial and professional support for AfricanStart-up and small businesses. He emphasized that the main objective of the project is to provide long-lasting solutions to Africa’s Economic problems through youth empowerment and providing support to small scale businesses for them to grow. 

Abiola highlighted five big problems that hinders majority of African small businesses from becoming financially free as;Cross Border Commerce Constraint, Financial Exclusion, Poor Infrastructure and Support for Businesses, Poverty and Rising Rate of Unemployment as well as Limited Global Digital Economic Integration.

According to him, the limitations in digital integration in the economy seems to be pertinent amongst the major problems which the Nigerian economy has at the moment. If we must win the war of unemployment and poor revenue generation, we must leverage digital economic opportunities and possibilitiesproperly.

These problems have brought about the need for the socioeconomic empowerment project named ‘Tajiri’, a Swahili word which means wealth, hope or riches depending on the context it is being used.

He further stated, that World bank estimates Africa’s economic value at 2.6trillion dollars as at the last valuation, and this value is estimated to hit 5.6trillion dollars in the next five years. But, that will not happen if the people of Africa just sit back and do nothing to accelerate the economy. And the private sector especially small business, must be empowered to lead the race.

Abiola, explained that every nation’s economy is driven by their small businesses, hence the need to focus on start up entrepreneurs and small businesses. The Tajiri project is driven by Blockchain technology, as the project team wants it to be decentralized so everyone from the 54 countries in Africa can have access and own a stake in the project from wherever they are in the continent. Tajiri is a community driven project; a project by Africans for Africa.

Kabiru in his statement however explained, that the project will be starting in Nigeria; gradually extend to and change the other parts of the continent.

The Tajiri Project team built a ‘Tripod Pillar’ to combat the identified major problems of the African economy as earlier mentioned. One of the solutions being proffered is, ‘The Tajiri Financial System (Backbone)’, 

The Tajiri Financial system aims to provide solution tofacilitate ‘cross-border trading and exchange of value’ as well as facilitate financial inclusion and it is built on blockchain technology to ensure it’s truly decentralized, fast and cheap for Africans to do business amongst themselves.

The second pillar of the tripod is ‘The Tajiri Digital EconomyEnterprise Lab’. This is built to facilitate digital economy integration for the young entrepreneurs, women and small businesses in Africa. 

The team is deliberately building an enterprise lab in order to develop solutions and platform; to enable anyone monetize their skills, knowledge, experience and passion as well as help small business owners go digital. Connecting them to finance, market and professional support. Ultimately, every African would have opportunities to take advantage of multiple passive income channel built into the Tajiri Ecosystem. 

The third pillar of the tripod system which will be adopted to combat infrastructure issues, as well as the massive unemployment rate, is the ‘The Tajiri Industrial City’ using the ‘Grid model’. This means that Tajiri Ecosystem will be building mini-industrial estates and business cluster grid for different industrial sectors across Africa, building platformsand foundations to stimulate industrial revolution across Africa. The industrial estate and business cluster grid– will host and incubate businesses and accelerate start-ups

All these solutions will come together simultaneously to solve the economic issues of the continent.

The entire Tajiri ecosystem shall be powered by the Tajiri token called “TAJI”.  A hundred billion units of TAJI (100 billion) has been created on the “Binance” blockchainnetwork and shall be the primary medium of exchange in the ecosystem as well as a representation of stake-holding in the project, holders of Tajiri tokens shall also enjoy regular dividend emission.

Mr Michael Adeyemi (a co-founder of Tajiri Project)expressed optimism that TAJIRI, being first if its kind inAfrica and indeed the world, will have mass appeal and very fast adoption rate, therefore encouraged people to quickly take advantage of what the project is offering by making use of the products and acquiring as many of the tokens as possible for themselves – in the early state. He however cautioned that such decisions be done from a place of knowledge.

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