Experts list how Africa’s underground resources can be monetised via tokenisation

By Felicia Nwosu

Some experts in the financial sector have shared perspectives on how Africa can monetise its underground resources through tokenisation for self-financial empowerment and economic growth leveraging technology and e-commerce.

They noted that the shift to digitisation with greater access to devices, internet, demonetization, and the eruption of Non-Fungible Tokens (NFTs) into the financial landscape have revolutionized the field of financial players’ interaction and operations with profound impact.

The experts maintained that low adoption of NFT’s across sectors may be as a result of it being a relatively nascent concept compared to other traditional means of raising funds in the financial markets. They added that this is despite the tremendous strides made in the recent time through the introduction of various types of asset tokenisation.

Explaining how technology can help Africa monetise its underground resources and build its economy, Mamadou Toure, CEO Ubuntu Tribe, suggested that the use of satellites and drones to map resources and generate immediate revenue by selling fractional ownership of the resources through a mobile wallet app, can help grant equal access to opportunities.

“When we say tokenization, I want to open people’s mind of how far this thing could go. If they had put their song on the blockchain at that time, the amount of royalties they would get would be just phenomenal. Even if you say you don’t have a gold mine and you don’t have land, if you have talent, just the NFTs alone in creation can help you to raise money for your song.

“You have a community on Instagram, so let them pre-finance it. Put the song on the blockchain. It takes you to the studio. Then let them be your distributors and share the commission for them to bring more people buying the song. The tokenization economy goes so, so far. And if we put our data on chain, we become the next billionaires. I really want us to open the horizons about tokenization like we have done in finance. For me, I saw it as a legitimate way to anchor whatever you done or whatever you have.”

He averred that the use of new innovation such as the Ubuntu tribe Wallet apps, brands would strengthen capital markets by introducing natural mineral-tokenised assets, as well as providing securities trading where users are allowed to buy and sell tokens with ease. The industry thought leader said that investing in gold tokens is a safe way to preserve capital and hold value.

Oliver Lienhard, Ubuntu Tribe’s Chief Technology Officer (CTO), affirmed that marketers need to ensure a strong customer strategy to build a powerful digital presence, adding that tokenization of gold gift is shaping a future where technology aligns seamlessly with environmental responsibility.

Lienhard added that blockchain-powered solutions provide access to natural assets while cautioning users to ensure they adhere to the highest standards of security and transparency to boost credibility of any form of tokenization.

Another expert, Sonnie Babatunde Ayre, CEO of DLM Capital Group ,noted that tokenisation of gold as one of the most valuable nature’s endowment will give many people the opportunity to keep the value of their wealth without having to buy dollars which puts negative pressure on the Naira.

He said the shift to digitisation with greater access to devices and internet, demonetisation, and the synergy from both public and private ownership for digitisation of services will accelerate the push for financial inclusion

The experts agreed that unlocking African’s untapped wealth through assets tokenisation and disruptive technologies are ways to harness the transformative potential of resources and asset tokenisation.


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