pawaPass and Mchezo Collaborate to Enable $2 Million in Share Distribution to betPawa Clients
pawaPass, the reg tech platform, which provides user authentication and compliance solutions for African organizations, and the sports and technology company Mchezo have established a historic collaboration and as a result of this partnership, an economic inclusion program will be launched, which will allow more than 200,000 loyal customers from betPawa to receive $2 million worth of shares.
During this program, end users in 11 African markets will have more influence over the sports betting brand betPawa, which is owned by Mchezo. pawaPass and Mchezo have been working together since early 2022 to create an innovative solution that would revolutionize economic inclusion in the African market. It will launch this month.
This news follows the Central Bank of Rwanda’s [BNR] recent award of a Trust & Corporate Service Provider [TCSP] license to pawaPass. A secure and lawful execution of the large-scale share distribution will be ensured by this license.
The Rwandan Central Bank introduced the TCSP license in September 2022, which validates pawaPass’s adherence to strict security, governance, and compliance criteria within the framework of regional and global regulations.
Companies that meet the requirements are granted this accreditation after each application goes through a rigorous assessment procedure that is usually completed in less than a month.
Conventionally, the process of onboarding investors and safeguarding assets in line with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards is a costly and manual process that makes it impossible for micro-shareholders to own digital assets like shares. In our quest to make this process more efficient and scalable, we ended up embarking on the TCSP licensing journey to create a bespoke solution for Mchezo that both verifies those selected to become micro-shareholders and safeguards their shares.
By making the process more inclusive and scalable, we have opened up the door for more inclusive investment opportunities, enabling hundreds of thousands to participate in the economic landscape with confidence and ease.
Sylvia Brune, CEO of pawaPass
This license gives pawaPass greater authority to protect and oversee assets on behalf of other parties, which is crucial for managing the distribution of shares to betPawa clients.
For years, we have wanted to make our loyal customers co-owners of the betPawa brand because they are the reason we exist. But doing this in a compliant, secure, and cost-effective way has been very difficult so we are excited that pawaPass has provided us with a way to finally make this possible.
Kresten Buch, Director at Mchezo
Sylvia Brune founded pawaPass in 2022, and with its unique blend of low-touch data points, non-ID-based user verification, and extremely accurate anti-duplication technology, it is revolutionizing online fraud and abuse prevention in Africa. pawaPass Mchezo collaboration Betpawa
