Minerco (MINE) Subsidiary, SHRUCOIN And TECHSULT, A World Renowned Software Developer, Are Partnering To Bring SHRUCOIN To Africa Via m-PESA's Phone Based Mobile Money Transfer Service; m-PESA Has Over 500 Million Users And $500 Billion In Transactions Mobile Money In Africa

Rhea-AI Summary

Minerco, Inc. (OTC PINK:MINE) partners with TECHSULT to introduce SHRUCOIN through m-PESA, the major mobile money service with over 500 million users across Africa. This landmark agreement makes Minerco the first U.S. company to enter key African markets, including Kenya, Uganda, and South Africa. The move comes as mobile money transactions surged, with a total value reaching $12.7 billion in 2020, a 65% increase. The CEO highlighted the potential for substantial revenue growth and enhanced shareholder equity from this expansion.

Positive

• Partnership with TECHSULT positions SHRUCOIN in emerging African markets.
• First U.S. company to enter major African mobile money markets.
• Potential for substantial revenue growth as mobile transactions increased by 65% to $12.7 billion in 2020.

Negative

• None.

m-PESA, Launched In 2007 By Vodafone & Safaricom, Is Largest Mobile Network Operator In Kenya; Deal Makes SHRUCOIN The First U.S. Company To Enter Kenya, Uganda, Tanzania, Rwanda, Nigeria, Ghana, Zambia And South Africa Markets - The Fastest Growing Blockchain Purchasers Market In The World

ANN ARBOR, MI / ACCESSWIRE / April 29, 2021 / Minerco, Inc. "The Magic Mushroom Company" (OTC PINK:MINE) today announced that Minerco's SHRUCOIN, a blockchain technology that enables cryptocurrencies such Minerco's SHRUCOIN (www.shrucoin.com) to bypass traditional sales channels, has partnered with TECHSULT, a world renowned software developer, to bring SHRUCOIN to Africa via m-PESA's phone based mobile money transfer service. m-PESA has over 500 million users and $500 billion in transactions mobile money in Africa.[1]

m-PESA, was Launched In 2007 By Vodafone & Safaricom and is the largest Mobile Network Operator in Kenya. m-PESA is an electronic mobile money service that allows users to store, send and receive money on their mobile phones. With an M-PESA account, users can transfer cash and shop for products and services. They can also withdraw cash by visiting an agent (typically in a corner shop) or transfer it to others from their phone. This makes it a quick, safe and simple way to make payments and handle money. It's particularly useful to users who have no bank accounts and live in remote rural areas. They are able to access the numerous M-PESA outlets distributed across the country.

Julius Jenge, Chief Executive Officer of Minerco, Inc., said: "This partnership with TECHSULT puts the company in an enviable position in the global Money Market. For the first time, more than $1 billion was sent and received in the form of remittances globally every month via mobile money. Despite early fears that transactions would decline as people worldwide suffered job losses and income cuts during the pandemic, it remains clear that diasporas continue to support family and friends back home. As a result, the total value of transactions increased by 65 per cent to an annual total of $12.7 billion in 2020."

He continued: "This deal makes SHRUCOIN the first American company to enter Kenya, Uganda, Tanzania, Rwanda, Nigeria, Ghana, Zambia and South Africa markets, which are the fastest growing blockchain purchasers market in the world. Management believes that this deal can generate substantial revenues to the Company and increase the value of the Company's shareholders equity."

To be added to the Company's investor email lists, please email bmiller@irpartnersinc.com.

About Minerco, Inc.
Minerco, Inc., "The Magic Mushroom Company" (OTC PINK:MINE), is the pioneering company specializing in the research, production, and distribution of psilocybin mushroom products ("Magic Mushrooms"). The Blockchain token SHRU can be used for purchases relating to psilocybin and cannabis. SHRU can be purchased at www.shrucoin.com. Consumers can also utilize the SHRUCOIN Pay app by visiting www.shrucoinpay.com. To learn more about Minerco, Inc. please visit www.minercoinc.com. SITE IS NOT UP

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MINERCO, INC. FORWARD-LOOKING STATEMENTS
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect," "intend," "plan," "estimate," "anticipate," "believe," "should," or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Minerco Investor Relations
Phone: 323-380-4500

[1] https://www.statista.com/topics/6770/mobile-money-in-africa/

SOURCE: Minerco, Inc

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https://www.accesswire.com/643239/Minerco-MINE-Subsidiary-SHRUCOIN-And-TECHSULT-A-World-Renowned-Software-Developer-Are-Partnering-To-Bring-SHRUCOIN-To-Africa-Via-m-PESAs-Phone-Based-Mobile-Money-Transfer-Service-m-PESA-Has-Over-500-Million-Users-And-500-Billion-In-Transactions

FAQ

What is the significance of Minerco's partnership with TECHSULT for SHRUCOIN?

The partnership enables SHRUCOIN to enter the rapidly growing African mobile money market through m-PESA.

Which countries is Minerco's SHRUCOIN expanding into?

Minerco's SHRUCOIN is expanding into Kenya, Uganda, Tanzania, Rwanda, Nigeria, Ghana, Zambia, and South Africa.

How many users does m-PESA have?

m-PESA has over 500 million users across Africa.

What was the transaction value of mobile money in 2020?

The total transaction value of mobile money reached $12.7 billion in 2020.

What does the partnership with TECHSULT mean for Minerco's shareholders?

The partnership could generate substantial revenues and potentially increase shareholder equity.