Empowering Africa’s Economy with Blockchain: AfriCred on Spores Launchpad!

4 min readAug 5, 2025

Prepare yourself to unlock the limitless potential of the upcoming AfriCred IDO on August 14th!

What is AfriCred?

AfriCred is dedicated to reshaping Africa’s financial landscape, with a specific focus on empowering micro and small businesses, which are essential for the continent’s economy. The goal of AfriCred is to step in to fill this crucial gap that these enterprises face in accessing traditional financial support.

Africred provides a platform to turn these funding needs into a lucrative investment opportunity with assured 15–20% APY.

🔷 AfriCred’s Four Pillars

AfriCred’s comprehensive approach to financial inclusion and economic empowerment in Africa is built upon four key pillars:

LOANS: Accessible and affordable credit solutions to MSMEs, women, youth, and farmers, empowering them to grow their businesses and create jobs.
RWA: Leveraging the value of gold as a real-world asset to create innovative financial products and investment opportunities, promoting financial inclusion and wealth creation.
REAL ESTATE: Investments in real estate projects, affordable housing solutions, commercial properties, agricultural land, contributing to economic development and stability.
CROSS-BORDER PAYMENTS: Streamlining and reducing the cost of cross-border transactions, enabling MSMEs to expand their reach and participate actively in international trade.

🔷Driving Tangible Impact

300+ MSMEs Supported: Empowering businesses to thrive and expand.
66% Informal Sector Workforce: Targeting Africa’s overlooked workforce.
$1T+ Industry Worth by 2030: Early investment opportunity in food & logistics.

🔷 AfriCred IDO Timeline

VIP Round: August 14th, 10:00 UTC => August 15th, 22:00 UTC
Triple Quota: August 15th, 10:00 UTC => August 15th, 11:00 UTC
FCFS Round: August 15th, 11:00 UTC => August 16th, 11:00 UTC

🔷 AfriCred IDO Details

Project Name: AfriCred
Token Symbol: $IFT
Total Raise: $200,000
Chain: BNB Chain
Refund mechanism: 24h Secured
Initial Supply: 10,320,000 IFT
Initial Market Cap w/o Liquidity: $951,600
Total Supply: 200,000,000 IFT
IDO Price: $0.13
Vesting Schedule: TGE 20.00%, 2m Linear Monthly vesting

🔷 How to Join the AfriCred IDO

Step 1: Register for the IDO: To be eligible for IDO participation, please click this link: https://launchpad.spores.app/ido/africred-ico
Step 2: Receive Email Confirmation: After the whitelist closing time, Spores Network will notify you of your Tier Confirmation at least 24 hours before the sale.

*AfriCred is under Spores Network’s 24-Hours Secured

🔷 Staking Benefits

Staking for APY Rewards: Individuals have the option to utilize tokens for staking purposes, which can result in the accumulation of additional tokens as incentives, thus encouraging sustained participation and interaction with the platform. AfriCred plans to implement APY staking, providing users with the chance to receive rewards in IFT tokens. The APY rates are subject to change depending on the duration of staking (page 16).

Staking for additional benefits: AfriCred is designed in such a way that IFT token holders can benefit not only in staking APY, but also getting additional benefits on different features, e.g.:

buying some insurance products.
getting higher compensation from the Provident Fund.
Access to Premium features (will be determined in the future).
Other benefits proposed by the community via Governance and voting options (page 16).

Risk Mitigation: While staking IFT tokens, the risk is minimized due to the insurance for both investors and merchants/businesses:

Investors can expect to receive up to 100% from the late/default loans from Provident fund due to the staked IFT tokens.
Merchants/Businesses can expect to receive up to 100% compensation on their losses covered by the insurance (page 27).

Increased NFT ROI: While staking IFT token, the ROI of NFT is slightly higher. Specifically, there will be +1% revenues with every 10,000 IFT staked (Capped up to 10%) (page 27).

🔷 AfriCred Tokenomics

🔷 Partners

AfriCred Official Links:

🔗 Website | 🔗 Twitter |🔗 Telegram | 🔗 Discord

About Spores

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