Binance will help Uganda and possibly expand to Africa

Binance, currently the largest cryptocurrency exchange by trade volume of 24 hours, announced an association in Uganda, which seeks to support the country's economic transformation.

The initiative aims to open thousands of jobs in Africa, and move investors to Uganda, according to a tweet from the CEO of the company, Changpeng Zhao:

"Binance will partner with Crypto Savannah, Aggie Konde and Helen Haiyu, to support the economic transformation of Uganda and the employment of young people through Blockchain, embracing the fourth industrial revolution, creating thousands of jobs and bringing investments to Uganda.

Crypto Savannah is a Blockchain Innovation Center in Africa, while Aggie Asiimwe Konde, is the CEO of Msingi, "an organization that is building industries of the future in East Africa," and Helen Hai is the CEO of Made in Africa Initiative.

However, what attracted the most attention is the suggestion that Binance is possibly expanding throughout Africa. The following Zhao tweet, in response to a user who praises this movement, only suggests curiously:

"Wait more news about Africa!"

This week meetings will be held to discuss the initiative, according to Crypto Savannah's Twitter account: "Develop something that is easy for the masses to use; it's not about creating complex functions, "Zhao told developers. Followed by the comment of the Blockchain Association of Uganda, which stated:

"My advice to young people is to focus on providing solutions to people who improve their lives, and the money will come later."

Binance currently has offices listed publicly in Hong Kong and Japan, although they do not disclose addresses for security reasons. They also announced that they would expand to Malta very soon, as the country is "very progressive in terms of crypto and fintech".

The transfer of Binance to Africa could be a boost for the continent in the world of cryptocurrencies, and a helping hand for countries struggling with different difficulties.