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Tanzania Fintech Startup Nala Secures $40 Million via Series A Round 


Tanzanian fintech startup Nala recently secured $40 million in a Series A funding round led by San Francisco-based venture capital firm Acrew Capital. The funds will be used to bolster Nala’s business-to-business (B2B) payment platform and support its overall growth plans. New Funding...

Nigerian Witness Says Binance Users Operate Under False Identities


A witness in the ongoing Nigerian money laundering trial against Binance has alleged that many local users of the cryptocurrency exchange platform are operating under false identities. The witness further claimed that by allowing users to withdraw Nigerian naira (NGN), a regulated activity, Binance...

Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users


Nigeria-based KuCoin users will begin being levied a 7.5% value-added tax (VAT) on transaction fees starting on July 8. Some observers believe that Kucoin’s decision to implement this tax is intended to enhance its chances of securing an operating license. A Lagos-based crypto industry player...

South Africa Approves 63 Crypto Asset Service Provider License Applications


South Africa’s financial services industry regulator announced on July 2 that it had approved an additional 63 crypto asset service provider license applications. The Financial Sector Conduct Authority (FSCA) has received a total of 383 applications, with only five being declined. Notably,...

Egyptian Fintech Startup Connect Money Secures $8 Million Seed Funding


Connect Money, an Egyptian fintech startup, recently secured $8 million in seed funding. The company plans to launch new business verticals using this investment. Connect Money aims to become the go-to platform for businesses seeking seamless banking services. Successful Capital Raise Demonstrates...

Kenya Concludes Worldcoin Investigation


Kenyan police have reportedly closed their investigation of Worldcoin, allowing the latter to resume its activities in the East African nation. The chief legal officer at Tools for Humanity confirmed that Worldcoin would soon resume registering Kenyan users. Tools for Humanity Praises...

Nigeria Rejects Claims Jailed Binance Executive Denied Quality Healthcare


A Nigerian government official has rejected claims that the jailed Binance executive is being denied access to quality healthcare. In an apparent reference to the U.S. calls for Tigran Gambaryan’s release, the official stated that only the court, not the Nigerian government, can authorize such...

Nigerian Court Dismisses Fugitive Binance Exec’s Rights Lawsuit


A Nigerian court dismissed a human rights violation lawsuit filed by the fugitive Binance executive, Nadeem Anjarwalla, against law enforcement agencies. In his ruling, Judge Inyang Ekwo reportedly cited Anjarwalla’s lack of legal representation as one of the reasons for dismissing the lawsuit....

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