By Daniel Itai.
Cape Town, South Africa. (News Of The South) South Africa’s multi-billion private equity firm, Sekunjalo Investment Holdings has today partnered up with a Chinese blockchain entity Ultrain, to build a Pan-African public chain that will create an Africa-wide blockchain enabled business ecosystem.
Sekunjalo and Ultrain will develop a robust new generation of financial infrastructure in Africa that is commercially sustainable, and responsible. The African Chain will be run together with Sekunjalo’s Pan-African e-commerce platform.
The foundation will be built on public access to a commercial use blockchain model developed by Ultrain to handle payments, clearing, lending, among other key financial services, all of which are aimed at providing African people and businesses with convenience.
Typical businesses that will benefit from the African Chain include travel, luxury goods, supply chain, sharing economy, healthcare, retail, media entertainment, new energy sectors and many other industries, trading in the 4th Industrial Revolution and beyond.
Dr Iqbal Survé, chairperson of Sekunjalo, said, “I am excited about this partnership and investment with Ultrain.
Sekunjalo is delighted with the advances China has made in technology which are now going to be made available for an African payment infrastructure.
The opportunities for collaboration with Ultrain are immense, and we are therefore looking forward to growing our joint footprint on the African continent, and positively contributing to Africa’s digital evolution.”
Ultrain and Sekunjalo have also jointly committed to directing a substantial part of the profitability of their partnership to philanthropic initiatives in Africa that will include the training of young Africans with an emphasis on women in blockchain technology and payment systems.
Ultrain is a public blockchain for commercial usage set up by former Alibaba Security Group technical director Ray Guo, managing director Golden Brick, senior investment banker Emma Liao Zhiyu and Ant Financial Group Blockchain technology leader William Li.
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