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Bolt halts inter-country requests between Nigeria and South Africa due to ride-hailing war

Bolt has restricted the inter-country request feature for its customers in Nigeria and South Africa due to the recent ride-hailing battle between both countries

News

FCCPC reinstates Nigerian fintech, Sycamore as an approved digital lender

Nigerian fintech, Sycamore has been reinstated as an approved digital lender in the country. This is coming barely a month after FCCPC erroneously delisted the company.

Arican Markets

First SVB, now Mercury. US banks leave African startups in dire straits

Mercury’s stumble from fintech hero to a target of federal scrutiny highlights the complex interplay between rapid growth, regulatory compliance, and financial stability

News

Crypto exchange, OKX announces plans to exit Nigeria market.

Cryptocurrency exchange OKX has announced its plans to exit the Nigerian sector. According to an email sent to its Nigerian customers on Wednesday, it intends to discontinue services in the Nigerian market because of the country's unfavourable regulatory conditions.

Cybersecurity

Ghana grants licences to 51 cybersecurity providers amid a surge in data breaches

The Ghana Cybersecurity Authority granted licences and accreditation to 51 cybersecurity industry players to to combat surge in data breaches

News

Top telcos shape to rival Starlink in Africa’s costly internet capital

In Zimbabwe, the entry of Starlink, Elon Musk’s disruptive satellite internet platform, is causing a stir. After getting a license two months back, the service plans to launch in the third quarter of 2024, pushing local internet providers to rethink. Zimbabwe’s internet has long been expensive and limited in coverage. Average data costs are higher […]

News

Uganda reinstates 25% import duties on import of all Electric and Hybrid vehicles

Uganda has hiked import duties by 25% on all electric vehicles coming into the country, a big jump from 0% in the past fiscal year.

News

On NDIC’s disbursement of ₦650 bn to 2.3 million insured Heritage Bank depositors

The Nigeria Deposit Insurance Corporation (NDIC) has begun paying out the trapped funds of depositors at the now-defunct Heritage Bank.

News

Lagos state govt injects ₦1 billion for startup funding and innovation research

₦1 billion in funding marks an astronomical increase in allocation to the initiative based on previous precedents.

News

Ride-hailing services now need to apply for licences in South Africa

The South African president Cyril Rumaphosa has amended the National Land Transport Action Law to enable Bolt, Uber and other ride-hailing platforms in the country to apply for operating licenses like other public transport service providers. Previously, these companies operated in a regulatory grey area relying on charter permits and metre taxi operating licences.  Now […]

News

Sierra Leone takes hundredth spot on Starlink’s global radar

Elon Musk’s satellite internet service, Starlink, has gone live in Sierra Leone. The launch, which comes a year after the Francophone West African country’s communications regulator granted the service an operating license, takes the company’s reach to 100 markets globally. 

Mobility

inDrive avoids ban in Nigeria’s capital, secures licence

inDrive started offering rides in Abuja in March 2023 and quickly became popular, with users averaging 212 rides each in the first few months. 

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