Africa is a rapidly developing continent with a diverse patchwork of financial systems and transnational financial arrangements. Its banking ecosystem is far from mature, mainly due to the long-standing colonial and post-colonial legacy that hindered the development of African states and focused on extractive economies only.
Yet, the times are changing, and the 21st century is ushering in a new era of African rise and development in economic terms. The role of digital payments is immense in this process, as innovative, flexible, and accessible payment structures are conducive to economic growth, small and middle business development, entrepreneurial activities, and other types of financial interactions within and beyond Africa.
Clinq.Gold is committed to advancing African economies by providing a stable, transparent, and innovative technology-based exchange asset – tokenized gold. That’s why the project’s founders are actively engaged in all financial happenings in Africa, including the summits and conferences dedicated to boosting African economic development with advanced payment technologies.
Invest in Africa: 2024 Summit’s Highlights
The closest event we’re going to attend is the Invest in Africa Summit 2024, which is scheduled for April 16-17, 2024, in Wassenaar, the Netherlands. The two-day gathering will be dedicated to Africa’s agribusiness arrangements with African businesses of all scales and sizes.
The agenda of the Summit will cover the practical side of access to the African market for EU businesses and the nuances of exporting African agricultural produce to the EU. Therefore, investors and businesspeople from Africa and the EU alike are sure to find plenty of valuable insights on setting a smooth international business partnership.
The Summit holds unique value for businesses interested in the fast-growing and increasingly interconnected African market, as it will let keynote speakers share practical, first-hand experience of working with African businesses. The participants will get unique data about investment opportunities and will engage in useful business networking in the Summit’s working space.
Therefore, the gathering is of strategic value for all businesspeople related to agribusiness, technology, renewable energy, and mining aspects of African economies. At this event, organizers plan to familiarize investors with the most promising African projects to raise the European business community’s interest in Africa and create a conducive climate for long-term business collaborations.
How Can Clinq.Gold Contribute to Africa’s Development?
How does Clinq.Gold factor in the Summit’s agenda? Any forward-looking business establishing an international partnership should look into the innovative payment possibilities, especially for cross-border transactions, to enjoy frictionless cooperation with African partners. Therefore, the sphere of digital banking and crypto payments is quickly gaining momentum in the African business environment.
While cryptocurrencies still come with a set of bottlenecks and inherent vulnerabilities as tools for business transactions, mainly due to their volatility and a lack of physical asset backing, tokenized gold preserves the best of the two worlds – the flexibility of crypto payments and the stability of fiat money.
Tokenized gold is a strategically important asset that businesspeople working with African businesses and sponsoring innovative financial infrastructure projects across African states can freely explore. The use of tokenized gold as a means of monetary exchange gives all business partners a flexible yet stable financial medium of exchange, which can be used without reliance on the immature, corrupt, and expensive national banking systems across Africa. This asset’s price is pegged to gold, so the risk of suffering unexpected currency depreciation or liquidity-related slippage is minimal.
With all these benefits, tokenized gold represents an asset with huge potential of usage in Africa-EU business partnerships. It enables quick and cheap transfers without lengthy SWIFT transactions and high fees. Thus, Clinq.Gold is expecting a healthy interest in its gold-backed tokens and the ecosystem for various stakeholders at the forthcoming Summit.
CEO & Founder at Clinq.Gold, Bank of Bullion | Keynote Speaker