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Revolutionizing Africa's Commodity Market with TRACE
In an ambitious pivot, Sabi, a venture backed by Norskenn-22, has transitioned its focus away from a broad multi-category approach, honing in on commodities—particularly mineral and agricultural sectors. Founded in 2021 by Ademola Adesina and Anu Adedoyin Adasolum, Sabi aims to harness technology to anchor African informal sector participation in the global economy.
Unpacking TRACE: A Solution for Supply Chain Challenges
Launched in response to pressing issues of supply chain visibility and unreliability, TRACE (Technology Rails for African Commodities Exchange) is a game-changer designed to professionalize small and medium mining operations. Adedoyin Adasolum notes, "Our focus on TRACE reflects its potential to meet our long-term objectives by ensuring that African commodities can compete on the global stage through standards compliance and transparency."
Meeting Global Standards: The Promise of Transparency
As global demand for ethically sourced materials swells, Sabi's commitment to transparency comes at a pivotal moment. The platform enables suppliers to list inventory and quality tests, facilitating access to finance while allowing traceability from mine to market. Highlighting the significance of this initiative, Adedoyin asserts, "We can trace the source of the supply, which is paramount in today's socially conscious market."
Beyond Precious Metals: A Focus on a Broader Portfolio
While Sabi deliberately excludes precious metals and gemstones from its portfolio, it aims to amplify the representation of African minerals—currently noted to hold about 30% of the world’s mineral reserves—in the global supply chain. As the size of the African mining sector increases, the capability to meet larger industrial demand for minerals such as lithium and copper sourced from countries including Nigeria and Zambia will become increasingly critical.
Looking Forward: What This Means for Global Supply Chains
Sabi's strategic pivot to TRACE signifies a larger trend towards transparent supply chains that prioritize ethical standards. By ensuring compliance with international norms, Sabi not only enhances its operational credibility but also unlocks new avenues for African commodities to thrive in the global marketplace, appealing to diverse industries from technology to agriculture.
For stakeholders involved in the agricultural and mining sectors, understanding and leveraging platforms like TRACE could provide a crucial edge, driving transformation within and beyond Africa. As Sabi enhances its offerings with TRACE, the future of African commodities may be poised for greater global integration and economic empowerment.
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