So what are Banyan and QM up too in Kenya? Does sound like to me that QM is expanding their business globally rather than just focusing on Asia Pacific.
Banyan Investment Bank further announced a $100 million funding agreement with Quantum Metal Group to support their African gold trading activities.Additionally, Banyan will serve as a custodian bank, holding 2.5 tonnes of gold on behalf of Quantum Metal Bullion Pty Ltd, the beneficial owner.
Additionally, the digital bank announced that it will commit €1 Billion to the Rubi Foundation Africa.
“These funds will go towards the agriculture and housing sectors in 22 African countries where we
believe there is great potential for job creation,” said Rubi Foundation Africa President and Founder Rubi Moss William.
In Kenya, Rubi Foundation Africa will primarily focus on counties in the Arid and Semi-Arid Areas (ASAL), such as Pokot, Narok, Turkana, Baringo, Marsabit, Kajiado, Wajir, and Makueni.
These initiatives will include providing affordable housing, water resources, agricultural support, and agricultural inputs to sustain livelihoods.
“The Foundation is already working with the government to launch this program and its related projects.
Our goal is to settle over 2 million people in the ASAL regions. Additionally, we are focusing on irrigation and school feeding programs,” added William. Banyan Group Of Companies Chairman Dr Jean Baptiste Bilala added that the fintech’s investment strategy is designed to foster economic growth within local communities by promoting conservation efforts and catalyzing job creation primarily within the tourism and hospitality industries, which are
essential for showcasing Africa’s natural beauty and promoting environmental stewardship.
28 May 2024
(20min delay)