Article Written By: Patrick Conlin
The Aziza coin is a new ICO project seeking to raise 60 million dollars in funds to begin drilling ten exploratory wells for hydrocarbons in Southern Africa. This asset backed security token holds a 20 percent stake in Africa New Energies, an energy company which has secured exclusive land rights to some 22,000 square kilometers in eastern Namibia. The Aziza coin derives its value from its stake in ANE and has an evaluation of 100 million dollars based on a 500 million dollar offering that the energy company turned down. The token differentiates itself from other prospective ICO’s in that it already holds a physical monetized asset in commodities of oil and natural gas on ANE’s land holdings in Namibia. The Aziza coin promotes itself as a security token with a portfolio of future oil and gas investment projects on the African continent. Currently, the two companies’ futures are inextricably linked together with the Aziza coin offering operating as the funding mechanism for ANE to buy the necessary drilling equipment and build the infrastructure to break ground. This relationship is not necessarily bad news for investors, according to the projects white paper ANE has plans to IPO and it’s reasonable to expect that a portion of funding would belong to token holders.
Recently, I had the opportunity to speak with CEO of Aziza Coin Robert Pyke at Tokenfest on September 13, 2018 at the Seaport World Trade Center in Boston, Massachusetts. In the interview he explains how the Aziza Coins hard cap goal of 60 million USD will be allocated to fund the drilling of the first exploratory wells with 75 percent of those funds, or 45 million, being directly invested into ANE. Africa New Energies estimates that there is some 1.6 billion barrels of oil beneath its land right holdings in eastern Namibia. The first step to bringing power to some 630 million African residents is to secure investor funding to prove that hydrocarbons are indeed there.