Wednesday , June 12 2024

Africa’s first gold trading platform launched

Sawa Minerals, a tech-driven company has created and launched a platform that will transform how gold is mined and sourced across Africa and the developing world.

The platform has been designed in such a way that it is easy to buy ethically mined gold from artisans and small scale miners (ASM) across Africa and the developing world.

One of the co-founders Kali Angwa said they settled on the name Sawa because it captures the purpose of the platform.

The name ‘Sawa’ is Swahili for fine, all good or no worries.

Sawa Minerals is a platform where stakeholders in the gold mining industry are not worried about fraud, gold buyers are assured of ethically mined gold while miners are assured of decent pay.

The platform will be guided by the principles of fair treatment of the planet, sustainability, conflict-free gold mining, fair pay, and protection of human life.

The ultimate goal of Sawa Minerals is to bring transparency, and ensure that artisans and small-scale gold miners are part of an inclusive value chain that will transform their livelihoods.

“It is a sad reality that small-scale miners in Africa and the rest of the developing world make a huge contribution to the global gold trade yet they remain poor, exposed to hazards and the constant threat of conflicts. Sawa Minerals challenges this status quo,” said Angwa.

Angwa, said artisanal and small-scale gold miners in developing countries will now have the opportunity to be part of an inclusive platform that respects and puts their needs first.

He said Sawa Minerals is committed to inspiring an ecosystem that will shape the future of ethical mining of gold, one that is free of child labour, where the miners community will work in safe conditions and earn life-sustaining income.

“Artisanal and small-scale mining is an important supplier to key sectors of the global economy including construction, jewelry, and electronics. For example, if all of the world’s ASM community stopped working today, the world would suffer a shortage of  20 percent gold, 20 percent diamond and 80 percent of global sapphire.”, said Angwa.

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