UK-based Zimbabwean entrepreneur Barney Kavai has launched Kavai Precious Metals (KPM), a new venture that aims to help Africa retain more value from its gold resources by combining physical gold custody with tokenised digital ownership.
The company said its “phygital” model integrates institutional-grade gold vaults with blockchain-backed digital gold tokens, allowing investors to own gold that is fully backed by physical reserves. Each KPMT token represents one gram of 999.9 fine gold held in secure vaults.
KPM said the platform is targeting institutional investors, African governments, sovereign wealth funds, and the diaspora, while promoting local beneficiation, refining, and secure storage of precious metals across the continent. The venture also plans to use artificial intelligence for reserve reconciliation, anti-money laundering compliance, sanctions screening, and asset traceability.
According to the company, the initiative seeks to address the long-standing challenge of Africa exporting raw minerals while much of the value from refining, storage, and trading is captured overseas.
However, KPM acknowledged that the model has not yet been proven at scale and said it is continuing engagements with regulators, policymakers, investors, and technology partners before full implementation.
