WadzPay's expertise in blockchain technology and digital asset management aligns with SMI's objectives, facilitating the tokenisation of a portion of SMI's mining assets.

Blockchain-based solutions firm, WadzPay Technologies Africa, has partnered with Société Minière d'Investissement (SMI), an investment and financing vehicle for mining-related projects, to provide financial support to small and medium enterprises (SMEs) in Congo Brazzaville

The partnership, aimed at accelerating the digitalisation of mining assets, is focused on fostering economic growth in the Central African country.

It is part of SMI's mission to use its mining assets as collateral, thereby enabling access to international financial markets for essential financing.

WadzPay's expertise in blockchain technology and digital asset management aligns with SMI's objectives, facilitating the tokenisation of a portion of SMI's mining assets.

Anish Jain, founder and CEO of WadzPay, said: “By harnessing the power of blockchain technology, we aim to open new financing avenues for the mining sector, thereby driving sustainable economic growth and prosperity in the Republic of Congo.”

“For us, as SMEs, the partnership with WadzPay represents the hope of an entire continent,” said Brice Gatse, SMI MD.

Gatse said tokenisation enabled African nations, most of which are engaged in programmes with the International Monetary Fund (IMF) and subject to debt restrictions, to overcome obstacles to investment.

He believes tokenisation offers these countries an opportunity to use their natural resources as collateral to raise funds and finance extractive industries.

Gatse said the partnership between WadzPay and SMI is a way to democratise investment, because more people can invest in mining, energy and infrastructure projects, previously reserved for large financial groups.

“This represents an opportunity that aligns with a multipolar and decentralized world enabled by Blockchain technology,” he said.

Founded in Singapore in 2018, WadzPay operates in multiple regions spanning Asia Pacific, Middle East, Africa, Europe and the Americas.