Binance taps Nadeem as EA director
Former general manager of Uber Eats Kenya Nadeem Anjarwalla (pictured) has been appointed director for East Africa at Binance, a global provider of blockchain and cryptocurrency infrastructure. Nadeem will oversee commercial operations in over 12 markets in the region with Kenya being the key driver of transaction activities in the game plan.
He comes with a wealth of experience in establishing and growing business operations in a variety of industries.
Nadeem who has an MA from Stanford University and a BA in philosophy, politics, and economics from Oxford University said he is honoured to join Binance at this crucial time for the industry.
“Although it is still early, the East African region has experienced tremendous growth recently, and I am looking forward to promoting blockchain adoption and taking the lead in the revolution that is transforming innovation, financial inclusion, and economic competitiveness in East Africa,” said Nadeem.
Nadeem joins at a crucial time for blockchain and cryptocurrency in the region because some parts of East Africa have some of the continent’s biggest crypto markets.
“He will strengthen the expanding East African community in his capacity as regional director and assist the area in joining the global technological revolution,” Binance said..
Binance is seeking to establish its dominance in Africa as major players such as Coinbase continue to focus mainly in the United States.
African exchanges such as Yellocard, Paxful remain weak and lack the financial backing that Binance enjoys.
Trends show that many unemployed or underemployed young people in Africa are turning to cryptocurrencies to accumulate and protect wealth, but in other nations, such digital assets are primarily used to increase already existing wealth.
P2P transactions may be much higher than previously thought, according to the Chainalysis report, as there are also reported informal dealings through group chats in nations like Kenya and Nigeria.
In parallel, the use of cryptocurrencies for remittance and commercial purposes is developing in Africa, which is driving the adoption of cryptocurrencies due to the devaluation of local currencies and high transaction costs among well-established money transfer platforms.