Ciao Group announces investment token backed by $530 billion African financial market
Ciao Group, Inc. has announced further details on an Initial Currency Offering (ICO) planned for later this year. The Company plans to introduce an Investment Token backed by stocks of publicly traded companies listed on African country exchanges that collectively make up $530 billion in market capitalization.
Funds raised in the ICO will be utilized to facilitate dual listings of African public companies in the United States. The Ciao African Investment Token will be backed by stock of African public companies traded in the United States. The planned ICO is an integral part of Ciao's Blockchain Frontier Markets Project now under development for over a year.
Ciao recently announced engaging East African Development Partners, a subsidiary of Restance, Inc. to integrate a Blockhain solution for the upcoming Investment Token offering. Ciao recently announced a pilot of its anticipated platform for launching its African Investment Token.
Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh.
Restance, through its subsidiary, East African Development Partners is pursuing several business lines in the growing economies of East Africa. The Company is developing opportunities in the region including initiatives in technology and systems integration services, utility support services, affordable housing and health products manufacturing.
The Company owns a majority interest in manufacturing equipment being integrated into a health products manufacturing facility currently under development. The Company is also under contract with a Chinese real-estate investment firm to develop real-estate assets in East Africa.