Anyone can now invest in as little as R10 worth of gold

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Gold-backed neobank Troygold, supported by payments platform Precium, has launched its subscription gold offering in South Africa, enabling investors to buy and own fractional amounts of real 1 oz gold Krugerrands, which are securely stored in Johannesburg vaults with London Bullion Market Association-approved custodian Brink’s ensuring security and authenticity. 

Buying gold in small increments will make gold investment more accessible and affordable to all, with the minimum investment being as little as R10. Investors can even set up daily, weekly or monthly contributions to put savings on autopilot.

The initiative offers a novel way for retail investors and businesses to invest in gold bullion, providing a convenient, transparent and cost-effective method compared with traditional avenues.

The collaboration is aimed at democratising access to gold investment opportunities by leveraging Troygold’s expertise in digital bullion and Precium’s payment technology. 

“Our mission is to make gold accessible and affordable for everyone and this subscription offering, in partnership with Precium, offers a significant step towards achieving that goal.

“We look forward to providing all South African investors with a seamless and secure way to invest in gold on a recurring basis, at any currency amount – allowing them to protect their cash savings against inflation and stack up on a stable asset,” Troygold cofounder Dane Viljoen said on July 3.

Precium’s payment platform enhances the subscription process by streamlining transactions and reducing operational costs, offering multiple recurring payment options relevant to South African consumers. These include debit orders and recurring card payments powered by network tokens, which ensures the card on file does not expire. 

“Payment reliability and flexibility are key to supporting subscriptions at scale. The Troygold team . . . share our vision to be a home-grown South African company with global resonance and impact,” Precium COO Nicole Dunn said.