International flight tickets to sell at ₦803/$1 in Nigeria, IATA says

Starting Tuesday (July 18, 2023), the International Air Transport Association (IATA) has adjusted the exchange rate for flight tickets from ₦776.90/$1 to ₦803.90/$1, Nairametrics exclusively reported on Monday.

Egyptian fintech startup, Flash, secures $6 million seed round to revolutionise cashless payments

Egyptian fintech Flash, raises $6 million seed round to revolutionise cashless payments after securing Central Bank of Egypt approval as technical payment aggregator in partnership with Banque Misr

Africans will pay more for UK visa fees and health surcharge

UK Prime Minister Rishi Sunak has increased visa application fees and health surcharge paid by immigrants, including Africans to enable the country to fund its public sector.

Wema Bank increases foreign currency spending limit on Naira cards

Wema Bank has resumed international transactions on naira cards, the bank has also increased its monthly spending limit to $500.

Access Bank wants to acquire StanChart’s Sub-Saharan Africa subsidiaries

Access Bank has completed talks for the acquisition of Standard Chartered Bank's subsidiaries in Africa. The deal is pending regulatory approval and will be completed in 2024.

CBN to halt controversial social media KYC requirement

The House of Representatives has adopted a motion asking the Central Bank of Nigeria to suspend the implementation of the social media KYC requirement that was introduced last month.

PharmaRun wins $10,000 Pitch2Win startup competition

With this integration, Changera is expanding its reach worldwide as the first African-based custodial wallet collaborating with MoneyGram.

Kenya withdraws 30% shareholding rule for Big Tech

Kenya has reversed its shareholding rule that insists that Big Tech companies must sell 30% of their shares to Kenyan locals.

Flutterwave is partnering with IATA to facilitate flight payments in sub-Saharan Africa

Flutterwave has joined International Air Transport Association's payment orchestration platform to enable global airlines to collect local currencies.

Uganda to impose 5% tax on non-resident digital companies

On Tuesday, the Ugandan Parliament amended its Income Tax Act to include tax from non-resident digital service providers like Meta, Google, Amazon and other big tech companies operating in the country.

Flutterwave launches Tuition, responds to growing FX demand for international school fees

Flutterwave has launched Tuition to allow African users to pay various fees to educational institutions within Africa and overseas using their local currencies.

BD Insider 170: Telecoms attracted $75.6 billion investment in Nigeria

MTN Group says it will invest over $3.5 billion in Nigeria in the next five years. We covered this and India's plan to establish a technology institute in Tanzania.