South African company collaborates with China’s Ultrain to develop a new African payment infrastructure.

South African company Sekunjalo Investment Holdings has collaborated with Chinese public Blockchain company, Ultrain Technology limited, to develop a pan-African open blockchain business ecosystem.

Sekunjalo Investment Holdings and Ultrain aim to develop a robust new generation of the financial infrastructure that is commercially sustainable and responsible. The blockchain model is designed to provide African people with financial services conveniently. Further details about the partnership will be revealed at the African Union meeting in Addis Ababa in 2020.

 

Ultrain will provide training and solutions to African enterprises that wish to use blockchain.

The Co-founder of Ultrain, Emma Liao, said that it is crucial to build a convenient, secure, and reliable financial infrastructure for African people. She added that they are delighted to work with Sekunjalo and to create such a tool together, and to promote it with the help of Sekunjalo’s matrix of businesses. Ultrain will also provide training and solutions to African enterprises or ventures who want to use blockchain technology.

 

China pushing for blockchain adoption

Earlier, Chinese President Xi Jinping endorsed the use of blockchain technology and asked the country to “seize the moment.” Chairman of Sekunjalo Dr. Iqbal Survé said that China has made several advances in this technology and that this is going to be made available for an African payment infrastructure. Both companies have also committed to giving a substantial part of the profitability of their partnership, to philanthropic initiatives on the African continent. The initiative would include training young African citizens.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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