Entrepreneur Frank Buyanga will next week begin selling gold medallions, a move he says provide easy access to wealth through limited edition precious metal medals.
BY BUSINESS REPORTER
Buyanga’s African Medallion Group will put on the market certified Pan-African medallions, which the businessman said was a great way of legally preserving one’s wealth.
“Each medallion allows you to have your wealth backed by a strong valuable commodity which can easily be liquidated,” he said.
Buyanga, one of Southern Africa’s richest entrepreneurs, was reported to have personal wealth estimated at $20 million in 2009.
He said the African Medallion Group was mooted as his response to the one question which thousands of people continue to ask him: “What should I do with my money?”
Buyanga 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.
Buyanga has in the past 12 months growing his influence and business.
In October last year, local and international media reported that Buyanga was eyeing a 40% stake in cement manufacturer, Lafarge Cement Zimbabwe, a subsidiary unit of Lafarge-Holcim in South Africa, a unit of the world’s largest building materials producer with operations in 90 countries worldwide.
The businessman grabbed headlines locally after his company, Hamilton Properties, was accused of allegedly seizing immovable properties of those who would have borrowed from him. Buyanga said he was not a money lender but clients would dispose of the properties to him and later buy back the assets.