Kenyan official suggests collaboration with Binance for tech innovation

Kenya is open to partnering with global cryptocurrency exchange Binance, says John Tanui, principal secretary at the Ministry of Information, Communications, and the Digital Economy. 

Tanui hopes that partnerships like this can help cement Kenya’s position as a hub for technological innovation in Africa. 

The details

• The secretary made these comments at Binance’s community event held in the country last week. 
• According to Tanui, Kenya is positioning itself as an enabler for young Kenyans to explore opportunities in crypto and artificial intelligence. 
• In addition, the country is working with global firms such as Binance to provide more learning and skill development opportunities for its citizens, Tanui said. 
• In response, Binance’s chief marketing officer, Rachel Conlon, praised the eagerness of the country’s youth population to be a part of the crypto economy and asked them to join the firm’s academy. 

Key quotes 

• Tanui said: 

“We [the Kenyan government] are working with stakeholders and partners like Binance to ensure we align with existing programs and upskilling initiatives... We commend Binance and the community and are ready to work with you to unlock opportunities and cement Kenya as the ‘Silicon Savannah,’ a global hub for tech.” 

• Binance’s CMO, Rachel Conlon, re: 

“Kenya’s progress in digital finance is a model for the entire continent. The level of enthusiasm and engagement from the community, regulators, and business partners here has been truly inspiring. We are thrilled to be part of this journey and to work closely with key stakeholders to ensure the long-term success of crypto adoption and the digital economy.” 

Zoom out 

• Across Africa, Binance’s relationship with governments has been far from smooth. In Nigeria, the exchange remains entangled in a legal battle, facing charges of money laundering and tax evasion.
• The Nigerian government believed that the exchange was complicit in the rapid devaluation of its local currency last year and proceeded to crack down heavily on the firm. 
• Authorities detained two top officials of the crypto firm shortly before Binance disabled its peer-to-peer trading platform in the country and restricted access to Nigerians. 
• Mariblock reported that Binance has blocked Nigerians from accessing token airdrops, and the country has again sued the exchange for $81 billion in damages and unpaid taxes.