aak-GROW and Authentic.network Forge Landmark Partnership at GABS 2024

Far-Reaching Economic and Social Impact

Members of the aak consortium currently lose approximately 30% of their annual revenue due to counterfeit products, amounting to around 15 billion Kenyan shillings (€110 million). With Authentic.network’s innovative technology, these revenues can be secured, leading to the creation of thousands of legal jobs, supporting families, and boosting tax revenues. This initiative is set to strengthen the economic development of an entire region and promote social progress. Eric Kimunguyi, CEO of aak-GROW, remarked:

"This collaboration not only secures the future of our businesses but also reinforces consumer trust in the quality of our products."

Cutting-Edge Technology Against Counterfeiting

Authentic.network introduces a revolutionary solution: a crypto-optically encrypted QR code secured via blockchain technology. Applied directly to products, this code provides reliable protection against counterfeiting. Consumers can scan it with any smartphone to verify authenticity and access additional information. The technology is not only tamper-proof and cost-effective but also seamlessly integrates into existing processes—empowering companies worldwide to safeguard their products. Frank Theeg, CEO of Authentic.network, emphasized:

"It is a great honor to present our vision at the German-Africa Business Summit 2024 alongside Federal Minister Robert Habeck. For us as a startup, this is a significant milestone and a unique opportunity to showcase the impact of our technology. Together with aak-GROW, we aim to drive real change and create sustainable solutions."

A Vision for the Future: National Security Seals as Game Changers

This partnership serves as a blueprint for broader initiatives. The ultimate goal is the introduction of national security seals that comprehensively and efficiently protect both products and documents from counterfeiting. Frank Theeg highlighted:

"A national security seal will lay the foundation for an economy resilient to counterfeiting. It empowers businesses, creates legal employment opportunities, and increases tax revenues—a decisive boost for economic stability and social advancement."

Moreover, the seal protects consumers from health risks, disrupts criminal networks, and fosters transparency and the rule of law. It paves the way for sustainable economic and social development throughout the region.

For more information about this partnership and Authentic.network’s technological solutions, please visit our website at www.authentic.network. Access image materials and the digital press release in our media library at https://media.authentic.network. Contact us directly at press@authentic.network.