In a groundbreaking move, South Africa has introduced tokenized gold investment, allowing individuals to own fractions of gold coins for as little as R50 ($3). This innovation, made possible through a partnership between crypto platform Mesh.trade and Troygold, brings a centuries-old asset into the blockchain era. Each token is backed 1:1 by a physical Krugerrand stored in a vault in Johannesburg and audited monthly.

This development is significant, as it democratizes access to gold, a traditional hedge against inflation and currency volatility. The tokenized Krugerrands are also VAT-free, fully auditable, and redeemable. This move joins similar initiatives in Nigeria and Zimbabwe, where digital gold investment products have been introduced.

In other tech news, Access Holdings, the parent company of Access Bank, has spent a staggering ₦193.5 billion ($120.5 million) on tech upgrades in 2024. This represents a 147% increase from the previous year, outpacing its competitors, GTCO, UBA, and Zenith Bank. The bank's tech expenses were largely driven by the need to upgrade its core banking software and enhance cybersecurity to reduce fraud losses.

The investment appears to be paying off, as fraud losses have dipped by 73%, from ₦6.15 billion to ₦1.64 billion. Analysts suggest that the bank's tech spending is also a response to the growing threat of fintech upstarts, such as OPay and Moniepoint, which are disrupting traditional banking models.

In related news, Paystack, a fintech company, has launched its consumer product, Zap, which has sparked a trademark dispute with Zap Africa, a crypto startup. The dispute highlights the need for clearer regulations around intellectual property in Nigeria's tech sector.

Meanwhile, Twiga Foods, a Kenyan digital marketplace, has acquired majority stakes in three regional FMCG distributors, expanding its offerings and logistics capabilities. The company's new CEO, Charles Ballard, is tasked with turning around the struggling business, which has faced challenges in the past.

The African tech ecosystem continues to evolve, with innovations in fintech, logistics, and digital marketplaces driving growth and investment. As the sector matures, it will be important to monitor developments in regulation, intellectual property, and cybersecurity to ensure that the benefits of technology are shared equitably.