CASHTOKEN REWARDS AFRICA RECIEVES 100M COMMITNMENT FROM GEM
CashToken Rewards Africa Limited, has obtained a $100 million capital commitment from Gem Global Yield LLC SCS (GGY), part of GEM. This investment will accelerate delivery of its consumer loyalty reward products to consumers and businesses across Sub-Saharan Africa.
GEM will provide CashToken Rewards Africa Limited with a Share Subscription Facility of up to $100 million for a 36-month term following an equity exchange listing, which will allow CashToken Rewards Africa Limited to draw down funds by issuing equity shares to GGY. CashToken Rewards Africa Limited will control the timing and the maximum size of such drawdowns and has no minimum drawdown obligation.
Group Managing Director, MD, GGY, Lai Labode, said the company was the first to offer UCraaS, cash token.
According to Labode, the investment would accelerate the delivery of its life changing consumer loyalty reward product to numerous consumers and businesses at every point of patronage worldwide.
He said, “Following an equity exchange listing, GEM will offer CashToken a share subscription facility of up to $100 million for a 36-month period, allowing CashToken to access money by issuing equity shares to GEM.
“The timing and maximum size of such drawdown will be under CashToken Africa Limited’s control, and there are no minimum drawdown requirements.
“The money is anticipated to contribute to CashToken Africa Limited’s aspirations for strategic development, which includes worldwide expansion to important cities across the world, the distribution of the company’s socially smart business model to various clients and the optimization of customer loyalty/rewards for businesses globally.
“CashToken Reward Africa Limited is excited about this financial commitment, because it will enable companies maximize their investments in customer loyalty globally while providing customers with dependable, unmistakable, life-changing Cash Reward opportunities.
“CashToken Rewards International is leading a new generation of Social Smart Business Models that connects the strategic interests of businesses across the world directly to the world most potent patronage cash rewards that leads to sustainable social development. It is designed for unassailable sustainability.”
CashToken Reward Africa Limited is the Powerball of Global Retail. CashToken is the flagship product designed to connect every purchase of good and services in any country to a guaranteed instant cash rewards and an automatic ticket into National Weekly Consumer Draws that offers a chance to win up to $100 million.
CashToken Rewards Africa Limited has been successfully launched in Nigeria and is fully operational. It boasts of major clients like MTN Nigeria, Airtel Nigeria, 9mobile Nigeria, Lagos State Government and Mastercard International among others.
The CashToken Reward International / MasterCard deal includes: the development of a Pan-African marketplace where Mastercard Holders in Africa can buy from a wide range of aggregated merchants and receive CashTokens reward for patronage.