Rinchi
TechInAfrica – A tech-driven startup, Sawa Minerals, has announced the launching of a blockchain-enabled minerals trading platform. The platform is the first in the African mining industry and expected to open up more opportunities for artisans and small scale miners (ASM) across the continent and the developing countries to purchase and market mining products.
‘Sawa’ in Swahili means ‘fine’, ‘no worries’, or ‘all good’. According to Sawa Minerals’ CTO & Co-Founder, Kali Angwa, they came up with the name as for the value and the purpose of the platform.
The blockchain-backed platform aims at making it easy for activities like selling and buying mined precious metals and stones through safe and transparent systems. The main goal of Sawa Minerals is to make sure that ASMs to be part of an inclusive value chain that will help to improve their livelihoods.
For the record, ASMs in Africa and in other developing countries have made a huge contribution to the global minerals trade. However, most of them remain poor because of the exploitation of the middlemen who play with the prices. This issue is what’s trying to address by Sawa Minerals by connecting sellers and buyers directly through a reliable and secure platform.
The availability of the platform is a part of the startup’s commitment to inspiring an ecosystem that will transform the mining industry to more ethical mining system that is free from exploitative middlemen so that ASMs will get benefit from their hard work and earn a life-sustaining income.
Kali Angwa said: The entire minerals sourcing chain across Africa and the developing world lacks transparency and efficiency. The Sawa Minerals platform ensures trust between mineral buyers and traders by utilizing smart contracts which only mature once both ends of the deal are fulfilled.”
For licensed ASMs, buyers, and traders, please visit https://sawaminerals.com to sign up and register for Sawa Minerals.
Sawa Minerals is committed to playing an active role in assisting the miners to become compliant with their countries’ regulations as well as ensuring them to be engaged in transparent sourcing that is free of worries.
