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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.