from DION HENRICK in Cape Town
Western Cape Bureau
CAPE TOWN, (CAJ News) – DAMREV, a global leader in real-world asset (RWA) tokenisation, and the National Co-Operatives Association of South Africa (NCASA) have partnered to enhance financial inclusion.
The partnership, described as groundbreaking, is set to benefit NCASA’s 1,6 million members.
It will leverage DAMREV’s expertise in tokenisation to democratise access to high-value, real-world assets such as copper, gold, chrome, titanium, iron ore, real estate and diamonds.
This initiative is focused on empowering cooperative members by giving them access to opportunities traditionally reserved for institutional investors.
“We are thrilled to collaborate with NCASA to make meaningful strides in financial inclusion,” said Duane Herholdt, Chief Executive Officer of DAMREV.
He said through tokenisation, they could offer members of NCASA access to secure, verified, and profitable assets that were previously out of reach.
“This initiative is about making the world of finance more equitable,” Herholdt said.
The core of the initiative is in RWA. It is a process that converts physical assets into digital tokens on the blockchain.
The items being tokenised under this partnership include some of Africa’s most valuable natural resources, sourced from mines in countries such as Botswana, Namibia, South Africa and Zimbabwe.
The democratisation of real-world assets through tokenisation represents a significant step towards financial inclusion, according to Bongani Letshabo, CEO of NCASA.
The executive believes NCASA members, often excluded from traditional financial systems, will greatly benefit from the accessibility and transparency offered by blockchain technology.
“This is an opportunity for economic upliftment that will have a lasting impact on our communities,” Letshabo said.
– CAJ News