1. Company Information
- Legal Entity: Kavod Technologies (Pty) Ltd
- Registration Number: 2022/XXXXXX/07
- Founded: 2015
- Country of Incorporation: Republic of South Africa
- Registered Address: Cape Town, Western Cape, South Africa
- Directors: As filed with the Companies and Intellectual Property Commission (CIPC)
2. Regulatory Framework
2.1 South Africa
Kavod Technologies operates under the following regulatory framework:
- Financial Sector Conduct Authority (FSCA): KAD services are provided in accordance with FSCA regulations governing financial products and services;
- South African Reserve Bank (SARB): Cross-border payment services comply with SARB exchange control regulations;
- Financial Intelligence Centre (FIC): Registered as an accountable institution under FICA for AML/CTF compliance;
- National Credit Regulator (NCR): BNPL and credit services comply with the National Credit Act 34 of 2005;
- Information Regulator: Data processing complies with the Protection of Personal Information Act 4 of 2013 (POPIA).
2.2 Nigeria
Operations in Nigeria are conducted in partnership with licensed payment service providers regulated by the Central Bank of Nigeria (CBN).
2.3 Kenya
Kenyan operations comply with the Central Bank of Kenya (CBK) regulations and the National Payment System Act.
2.4 Ghana
Services in Ghana are provided under the Bank of Ghana (BoG) electronic money issuer framework.
2.5 United Kingdom
UK services are provided through a partnership with an FCA-authorised electronic money institution.
3. Certifications
- PCI DSS Level 1: Highest level of payment card industry security certification;
- ISO 27001: Information security management system certification;
- SOC 2 Type II: Service organisation controls for security, availability, and confidentiality.
4. Nature of KAD
KAD (Karat Dollar) is a digital representation of value backed by a basket of physical commodities. KAD is not:
- Legal tender in any jurisdiction;
- A deposit with a bank or financial institution;
- A security or investment product;
- Protected by any deposit insurance scheme.
The value of KAD fluctuates based on the market prices of the underlying commodities. Users bear the risk of value fluctuation.
5. Reserve Custody
KAD is backed by physical commodities held by the following regulated custodians:
- Gold: Rand Refinery (Pty) Ltd — London Bullion Market Association (LBMA) accredited;
- Platinum: Anglo American Platinum Ltd — JSE-listed, regulated by FSCA;
- Copper: LME-approved warehouses — London Metal Exchange regulated.
Reserve holdings are independently audited quarterly. Audit reports are published on our Reserve Proof page.
6. Insurance Coverage
Micro-insurance products offered through the platform are underwritten by licensed insurers regulated by the Prudential Authority (PA) of the SARB. Kavod Technologies acts as an intermediary and is not an insurer.
7. Cross-Border Compliance
Cross-border remittance services are provided through partnerships with licensed Money Transfer Operators (MTOs) in each jurisdiction. All cross-border transfers comply with SARB exchange control regulations, FICA requirements, and the regulations of the receiving country.
8. Consumer Protection
Users of KAD services are protected by:
- The Consumer Protection Act 68 of 2008 (CPA);
- The Electronic Communications and Transactions Act 25 of 2002 (ECTA);
- The Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS);
- Our internal complaints procedure and dispute resolution mechanisms.
9. Reporting Concerns
If you have concerns about our regulatory compliance, please contact our Compliance Officer at compliance@karatdollar.com.
You may also report concerns directly to the relevant regulator:
- FSCA: 0800 110 443 / info@fsca.co.za
- FIC: 0800 223 322 / compliance@fic.gov.za
- NCR: 0860 627 627 / complaints@ncr.org.za
- Information Regulator: 010 023 5207 / complaints.IR@justice.gov.za