September 24, 2024
AMG’S gold medallion marks one year in style
Businessman Frank Buyanga
SUCCESSFUL entrepreneur Frank Buyanga’s gold medallions will this month mark one year after being put on the market by African Medallion Group. (AMG)
The limited precious metal medals have provided easy access to wealth through to those who bought the medallions creating millionaires.
When he launched the medallions in March last year, Buyanga said the medallions were a great way of legally preserving one’s wealth. How true he was as the medallions have stood the taste of time creating profit and wealth for everyone who bought the medallions.
“Each medallion allows you to have your wealth backed by a strong valuable commodity which can easily be liquidated,” Buyanga said when he launched the medallions.
Buyanga, one of Africa’s richest entrepreneurs said AGM was mooted in response to the one question which thousands of people continued to ask him: “What should I do with my money?”
Buyanga says he believes that everyone must have multiple sources of income and medallions were one of the many ways.
The businessman is a gold investor, with over a decade of experience. The new initiative, he said, was created to afford people from all walks of society the opportunity to invest in gold and also create additional wealth avenues for themselves.
AMG last month has announced that its gold reserves have surpassed the R1 billion (US$84 million) mark, making it an attractive buy for gold investors.
It’s accelerated growth has given it a boost as it plans to enter the highly unpredictable Zimbabwean market.
AMG’s announcement comes soon after founder Frank Buyanga made an enticing offer to fund Zimbabwe Sovereign Wealth Fund (SWF), which has stalled since 2014.
In a statement, AMG said it had been continually adding more gold to its reserves through purchases made from the Rand Refinery, the South African firm that is one of the world’s largest gold refineries and refines most of Africa’s gold.
“We are excited to inform our clients and stakeholders that the AMG Gold Reserves have surpassed the R1 000 000 000 threshold,” AMG stated.
Buyanga offered to fund and capitalise Zimbabwe’s SWF, which he said could assist start-ups in the latter.
Zimbabwe heavily indebted and has a high unemployment rate, estimated at more than 85 percent.
“As Africa Medallion Group, we want to be part of the new Zimbabwe by helping our SWF reach its goals and also get the necessary financial ability to do so,” Buyanga wrote to the Ministry of Finance.
His letter further stated, “As an entrepreneur, l am aware that at this moment, when the fiscus is stretched so thin and has nothing to spare, the practicality of SWF for Zimbabwe is then close to impossible. However, with our assistance together we can make it a reality.”
