The Cardano Foundation has said it is backing the introduction of South African National Blockchain Alliance (SANBA) to boost the socio-economic development of South Africa, a country of 59 million people.
SANBA, Cardano’s newest ally, is proudly supported by the South African Government. The organization is a collaboration between the civil societies, academia, and the country’s business community.
The initiative centers on advancing the adoption of blockchain technology in South Africa. It is also supported by State Department of Science and Innovation, Council for Scientific and Industrial Research, Office of Digital Advantage and other institutions.
Cardano Foundation, through SANBA, will look for ideas on how to expand its reach in the region. SANBA will help South Africa in boosting its socio-economic development through blockchain technology, thereby driving the adoption of the technology in the whole of Africa.
According to a release by Cardano Foundation, SANBA will speedily help in bringing economic inclusion to South Africa.
To Cardano Foundation, South Africa is a key market for developing a network of institutions, enterprises, and government making use of Cardano in Africa.
“The renewed focus on Africa represents a step towards building economic inclusion throughout the region with Cardano,” Cardano has posited.
“The potential collaboration with SANBA is the first step in delivering game-changing technology to enhance Africa’s dynamic and diverse economies.”
Collaborating with Cardano will give South Africa the opportunity to lead the decentralization agenda in Africa.
Cardano says it will be helping African countries to boost their fintech efforts by laying out ideas to future-proof the blockchain industry.
Already, Cardano has an unmatched footprint in Africa. The foundation has partnered with governments across the continent to design blockchain governance to future-proof Africa’s sustainable economic growth and development. This initiative will help governments across the continent advance their legislative and commercial standards in an accountable and transparent way.
Importantly, CEO Charles Hoskinson has said IOHK officially forwarded a request to the Cardano Foundation’s board, enjoining them to have a clear, concise Africa and Japan strategy.