Bullion Essence, a South African startup that allows individuals buy, store and sell professional market gold bullion cost effectively, has set up crowd funding campaign on the South African Investment network to raise ZAR 15 Million (approximately USD 1 250 000) through private equity investments. The service is looking for Private Equity Investors in Africa
Bullion Essence, a South African startup that allows individuals buy, store and sell professional market gold bullion cost effectively, has set up crowd funding campaign on the South African Investment network to raise ZAR 15 Million (approximately USD 1 250 000) through private equity investments.
The service is looking for Private Equity Investors in Africa to help cement and position it as a significant player in the industry by offering a game changing service.
Bullion Essence provides a service which allows people to buy gold regularly at the price set daily at the London Fix through the company’s flexible buying options. Bullion Essence is reportedly the first and only business of its type in Africa and current statistics hint that this is the perfect time to introduce such a service, because the wealthy class in Africa is growing.
In 2012 Africa’s segment of high net worth individuals grew by 9.9% the second highest growth rate in the world after North America, and above the global average growth rate of 9.2%. During the same period, the growth rate for Africa’s high net worth individuals wealth increased by 11.5% to $1.3 trillion, 1.5% above the global average.
Gold is one of the most stable forms of investment, because it provides investors a hedge against market instability, inflation, depreciation of the value of currencies and social, political or economic unrest. Gold prices are less volatile compared to most currencies that is why gold investments are extremely popular.
Unfortunately, this precious metal is only available in the ounces, bars and larger amounts which make it harder for people to invest in. Bullion Essence’s flexible buying option will allow clients to open an account for as low as $100; fund it with as little as $1 by setting up a monthly automatic payment with their bank to make regular deposits to build up sufficient funds to buy gold.
The gold will be kept safe in vault locations of their (the client) choice between New York, London, Zurich, Hong Kong, Dubai and South Africa.
Clients will have 100% ownership of the gold they have bought and can request for delivery. Through the website and via a global network of offline agents, clients will be able to also make online payments to merchants, send real money to family and friends as well as set up gold investment accounts. And all the deposits given to Bullion Essence by agents will be used to purchase gold that will be kept by Bullion Essence and made available for purchase by Bullion Essence Gold Savings Plan account holders.
Bullion Essence is reaching the bottom of the pyramid. And it is privately owned by two African entrepreneurs: Smart Chireru Co-Founder and CEO and Eric Joel Nhodza Co-Founder and Acting CFO. The team at Bullion Essence is confident and has faith in their capability to drive Bullion Essence successfully into the future.