- Aziza Project is a part stakeholder in Africa New Energies’ well-drilling program in Namibia
- The well-drilling program is envisioned as a means of providing electrical energy to millions of underserved people
- Aziza Project’s ICO will allow security token holders to share in company profits from the resource development
- Drilling is anticipated by the end of the year; 32 potential oil fields have thus far been identified
Aziza Project LLC’s drive to build investor confidence in Southern Africa’s oil and gas resources through modern-tech asset tokenization is gaining increased attention as media outlets such as the Financial Times welcome the input of corporate officers on business topics and provide a forum for the company’s promotions.
As Aziza Project noted recently via its blog (http://ibn.fm/DY9ok), Africa New Energies and Aziza Coin co-founder Shakes Motsilili (http://ibn.fm/Oc6mC) provided the business news publication with a featured opinion article on the value of backing job-creating entrepreneurs, and a separate article promoted Aziza Project’s cryptocurrency-based argument in favor of the company’s security tokens as a more profitable alternative to fund management intermediaries’ fees.
Aziza Project owns 20 percent of Africa New Energies (“ANE”), a corporation focused on bringing electrical energy resources to the underserved millions of residents in sub-Saharan Africa – specifically, Namibia. ANE is preparing to drill 10 wells toward the end of this year, which it believes will provide natural gas that can be converted to electricity onsite and pushed out to the majority of the country’s peoples through a utility grid.
The Aziza Coin ICO tokenizes ANE’s asset — a 22,000-square-kilometer (8,494.2-square-mile) governmental land concession roughly the size of Montana for the drilling project — to help fund the $60 million budget for the drilling program and additional investments in other energy-related businesses, including a plan to potentially provide free solar energy to communities not connected to the national grid through anticipated drilling profits. ANE states that its initial investment has enabled it to identify 32 potential oil fields thus far, with a net un-risked prospective resource of 1.5 billion barrels of oil equivalent (http://ibn.fm/pfsAw).
The article in the Financial Times favoring security tokens over fund managers notes how a South Africa businessman based in London began analyzing his return on investment by comparing the “hidden fees” he would pay to private equity funds with the Aziza Project’s “low transparent fees” that use blockchain’s distributed ledger technology to “automate and disintermediate the layers of fund management costs.”
The article notes that the equity fund fees are a disincentive to investment in startup enterprises.
“If the fund management industry is taking three-quarters of returns, with 40% of funds disappearing upfront, it becomes distinctly more risk averse, as any loss of retail investor capital will invite scrutiny and therefore shed light on the level of their fees,” the article states. “This risk aversion is manifested in the fact that 0.02% of assets under management or only 8 billion Euros were allocated to startups in 2016. This matters since start-ups create more jobs than the rest of the economy combined.”
Aziza Coin’s offering, on the other hand, has demonstrated its transparency by registering in the United States as a security token, and its investor fees are limited to a flat 10 percent up front, the article states.
“It became the first cryptocurrency in the world to integrate its reporting systems with a tax authority when it became a third party data provider to South African Revenue Services (SARS), ensuring that investor gains were reported and taxed as capital gains,” the article continues.
Aziza Coin’s smart contract is based on the Ethereum cryptocurrency, and, if the underlying energy exploration project pays off as expected, the security token could be the means for holders to earn dividends every time the company issuing the tokens earns a profit in the market (http://ibn.fm/YK4j5). The company estimates that proving the concession’s value will result in the Aziza Project’s holding being potentially worth up to $621 million.
For more information, visit the company’s website at www.Aziza.io
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