Page 9 - Paystack Storefront News Today

Telkom has petitioned the Pretoria High Court to declare that President Cyril Ramaphosa’s order that the Special Investigating Unit (SIU) should investigate suspicious deals is unconstitutional and invalid. Read more in #TCDaily.

E-commerce giant Amazon is reportedly growing tired with delays to the completion of the $274 million multi-purpose complex in Cape Town. Further delays could see Amazon terminating the developer agreement, and scrapping the entire project. Read more in #TCDaily.

Standard Chartered Bank has announced that it will shut down international spend on its naira cards. From August 1, all its customers will no longer be able to use their Naira Visa Debit cards to pay for foreign subscriptions. Read more in TC Daily.

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), recently made worrying statements. The governor said that using the naira to buy dollars is illegal, and offenders would be prosecuted. Can Emefiele deliver this time?Read more in #TCDaily.

Last week, several fintechs announced the shutdown of virtual USD Cards for their users. Flutterwave, PayDay, Busha, and Eversend, all announced that their virtual dollar cards and wallets would be terminated indefinitely. Read more in #TCDaily.

Kenya accuses more Nigerian companies of fraud–Korapay, Kandon and 7 others. Netflix to introduce ads for cheaper plans. Read about it on TC Daily.

Mobility tech Swvl expands to Mexico by acquiring, Urbvan. South Africa plans to regulate cryptocurrencies, Sendsprint expands to the UK and Whatsapp status gets voice note feature. Find out more in today's #TCDaily.

Safaricom's financial report shows that half of its profits came from M-Pesa. Endeavor Catalyst raised $292 million. Tesla's rivals are recruiting its laid-off talent. Read more in #TCDaily.

Flutterwave has responded to allegations of money laundering in Kenya. Read more in #TCDaily.

After inspecting and freezing its 52 bank accounts, Kenya's Asset Recovery Agency (ARA) has accused Flutterwave of laundering over $59.2 million.