Fintech CEO: Could Tunisian Football Star Engage Institutional Investors in Africa?

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Änis Ben-Hatira
Änis Ben-Hatira

Last week, Tunisian football star Änis Ben-Hatira, publicly made his investment in Timeless Capital Technology, which is responsible for the Timeless Capital Coin, known. The company was founded by Donaldson Sackey, another star in the sport.

“What’s most interesting here is that Timeless Capital is reportedly in talks with institutional investors and governments across the African continent, including South Africa, Ghana, and Nigeria, among others,” noted Richard Gardner, CEO of Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and digital asset exchanges.

On his investment, Ben-Hatira is quoted by Togo First as saying, “I think it’s a great idea to invest in Timeless Capital Technology because I believe in the technology they are developing and the vision they have for Africa.”

“There’s no question that there’s a lot of excitement in Africa for cryptocurrency. Some of that is driven by policy issues, including, in some areas, high inflation. But, I think we’re seeing a lot of people, including major policy players, looking at cryptocurrency and blockchain technology as a sector that could help solidify a piece of their tech economy, and they’re interested in getting in on the ground floor. That excitement is driven by the technology and the long-term prospect of the sector, but, is it conceivable that sports icons could help move the ball, no pun intended, to create innovation in the space? I don’t see why not,” opined Gardner.

“Let’s not forget that the crypto-sector really owes a tremendous debt to celebrities, both in the business and sports worlds, for its success. In the early days, it had folks like John McAfee tweeting about coins and creating unfounded interest for personal profit. I don’t think any of us want to see that kind of involvement. But, recently, you’ve had Mark Cuban and Elon Musk really promoting crypto in a futuristic way. Is it fair to say that Elon is helping to push public opinion and, even institutional investors, in a way that is reshaping the image of the sector? I think the answer is: yes, absolutely,” said Gardner.

Modulus is known throughout the financial technology segment as a leader in the development of ultra-high frequency trading systems and blockchain technologies. Over the past twenty years, the company has built technology for the world’s most notable exchanges, with a client list which includes NASDAQ, Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, Siemens, Shell, Yahoo!, Microsoft, Cornell University, and the University of Chicago.

“We’ve seen Super Bowl Champion TE Rob Gronkowski get involved in the movement, too, launching his own NFT. Celebrities don’t set policy, but they do move public opinion. And, if there’s enough support, especially from the right people, public opinion does shape policy. Granted, we don’t know what, if anything, Ben-Hatira has up his sleeve. Is he going to be a brand ambassador? Does he have relationships with institutional investors or politicians which would allow him to open doors? Will he advocate for a robust crypto economy in Africa, or, solely look after his own investment? Those are questions we don’t have the answers to right now, but it is certainly interesting enough that it is worth following,” Gardner said.

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