Ubuntu Tribe Celebrates Successful Launch of Utribe Wallet and GIFT Token in Lagos; Excitement Mounts for Nairobi Event

Ubuntu Tribe, in partnership with RED Media and DLM Capital Group, proudly announces the resounding success of the Utribe Wallet and GIFT Token launch at the Radisson Blu Anchorage on November 18, 2023. This landmark event signifies a significant leap forward in the evolution of regenerative finance.

Utribe Wallet, an avant-garde platform provides customers the possibility to buy gold from as low as 50 Naira from the ease of their mobile phone. Ubuntu Tribe offers the opportunity to build real savings and preserve their purchasing power, in a context of depreciating local currencies that is fast eroding the hard work of working class and companies treasuries. No need to carry cash under the mattress, within Utribe Wallet from any mobile phone, customers can convert Naira into gold in the form of GIFT as a store of value. GIFT (Gold International Fungible Token) is a digital certificate of gold ownership and backed 1:1 with physical gold. The gold is, audited, insured, and securely stored in reputable and regulated world class vaults across Europe, the Middle East, Southeast Asia and Switzerland. 

Customers can send and receive GIFT to one another within Utribe Wallet at affordable fees. The physical gold itself doesn’t move, it remains securely stored, only the digital certificate of gold ownership is transferred. Any user can claim the underlying physical gold at any given time at a preferred location by redeeming their GIFT in the platform.

Ubuntu Tribe announces a new era of shared prosperity and collective wealth preservation by democratising access to gold. GIFT was acclaimed by reputable institutions such as the Nigerian Stock Exchange Group, and Lagos Commodities and Futures Exchange, the path set towards a successful adoption and acceleration in the region. 

The launch by Ubuntu Tribe in partnership with RED Media and DLM Capital Group represents a bold step towards fortifying capital markets through the introduction of tokenized natural mineral assets. These assets, mined sustainably and universally accessible, usher in a new era of wealth security and opportunities, with the aim of enhancing financial literacy, inclusion and access in the global economy. The launch of GIFT was all the more celebrated as a credible solution to unlock Africa’s massive untapped wealth of natural resources. The continent hosts 46% of the global gold deposit. GIFT accessibility on Utribe Wallet significantly contributes to restoring African dignity powered by technology bringing gold at the palm of people’s hands.

Mamadou Kwidjim Toure, the visionary CEO and Founder of Ubuntu Tribe, expressed gratitude for the overwhelming response in Lagos. “Ubuntu Tribe is a movement towards shared prosperity, financial inclusion, and a sustainable economic future.’’

Oscar N. Onyema, CEO of the Nigerian Stock Exchange ‘’Asset tokenisation is a unique opportunity for Nigeria’s accelerated growth for all citizens and we are proud to see Ubuntu Tribe lead the way in this direction.’’

Ndidi Okonkwo Nwuneli, Co-Founder of African food change makers, entrepreneur and thought leader, shared her insights into how tokenization can drive agricultural growth across the African continent. “The Utribe Wallet and GIFT (Gold International Fungible Token) opens up new avenues for revolutionizing cross border trade for farmers, presenting opportunities for sustainable growth in the agricultural sector across Africa.”

Dr. Allwell Umunnaehila, Head of Operations at Lagos Commodities and Futures Exchange, highlighted the potential of tokenization to drive innovation and growth in African markets. “The success of the Utribe Wallet and GIFT (Gold International Fungible Token) launch in Lagos signifies a pivotal moment for African markets. Tokenization has the potential to reshape our economic landscape, fostering growth and inclusivity.”

Sonnie Babatunde Ayere, CEO of DLM Capital Group, commented on the transformative power of tokenization in the capital market. “The Utribe Wallet and GIFT (Gold International Fungible Token) represents a new frontier in the tokenization of assets, providing endless possibilities for participation and value creation. This success in Lagos underscores the significance of digital assets in reshaping the capital market landscape.”

Adebola Williams, Co-founder, and Chairman of RED Media Africa, underscored the influential role of media in shaping narratives. “RED Media is dedicated to telling the story of Africa and its products. We are thrilled to witness the positive impact of regenerative finance on our continent led by Ubutu Tribe.”

Pan-African Vision of Utribe Wallet:
The Utribe Wallet, a tangible embodiment of Ubuntu Tribe’s unwavering commitment to Africa, stands as a symbol of a collective vision for economic growth and empowerment. By providing secure and transparent access to GIFT, 100% backed by gold from diverse global regions, it actively fosters financial inclusion and prosperity across the entire African continent and facilitate opportunities for cross border trade. 

Ubuntu Tribe LLC ushers in shared prosperity and financial inclusion by providing universal access to tokenized natural resources as an asset class that is available, affordable, and accessible to all. The Ubuntu Vision is centred on offering equal access to opportunities, irrespective of wealth or place of birth, by harnessing the resources of Mother Earth responsibly.

With an initial focus on the distribution of tokenized gold, the Ubuntu platform offers stable and secure investment products powered by blockchain technology, with tokens representing insured and audited tangible assets. In addition to direct-to-consumer offerings, the Company is a pioneer in decentralized finance by providing tokenization as a service (white-labeled solutions) to assist and guide corporations and government organisations that share similar environmental and social governance (ESG) goals.

The Ubuntu Tribe tokenization model allows a wide range of investors around the world—including institutional, private, and retail investors—to directly participate in investment opportunities. Ubuntu Tribe’s approach integrates ethical sourcing with technological innovation, aiming for expansive market penetration while fostering broad-based economic empowerment across borders, combined with environmental stewardship.

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