Binance is illegitimate in Nigeria

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Editor’s Observe

Week 23, 2023
Learn time: 5 minutes

Hi there hiya everybody 👋🏾

When you settle in for the lengthy weekend, learn just a few of this week’s most fascinating tech tales from the house entrance and overseas

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

	Binance is illegitimate in Nigeria In a round revealed yesterday, Nigeria’s Securities and Alternate Fee directed Binance Nigeria Restricted to instantly cease soliciting Nigerian buyers in any kind in any respect. Learn more.
	Is Tingo a rip-off? Tingo seems to be tango-ing in an internet of lies. Hindenburg analysis group accused the NASDAQ-listed agri-fintech firm of being an “exceptionally apparent rip-off.” Learn more.
	Twiga prunes its workers Twiga Meals is saying “Go huge or go dwelling.” Final 12 months, the agritech fired 211 full-time salespersons and changed them with “free brokers”. There are additionally 2000 folks ready in line to exchange these free brokers if Twiga fires them for underperforming. Learn more.
	MTN is about to go off-grid Telecom operator MTN is on the lookout for a approach out of South Africa’s load shedding because the nation’s energy instability is taking a toll on its enterprise. Now the yellow telco is making ready to go inexperienced with off-grid renewable power. Learn more.
	Mara’s second layoff After a 21 million greenback fund increase, Web3 startup Mara has laid off its workers for the second time. This new wave of layoffs comes six months after it let go of almost half its workers final 12 months. Learn more.
	Bolt gives the drivers on strike more money Gasoline costs are touching the sky in Nigeria, and Bolt drivers have gone on strike to compel Bolt to extend its minimal price to ₦2000. Nonetheless, Bolt refused. As an alternative, it’s providing them a bonus of ₦6,000 with phrases and situations to cease the strike. Learn more.
	Chipper Money lays off COO In its third spherical of layoffs to this point, Chipper Money let go of extra of its workforce final week, and this time, even the COO was affected. To this point, the fintech has laid off over 150 workers members in a bid to restructure and deal with core merchandise. Learn more.

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	Tinubu suspends CBN governor Eleven days after his inauguration, Nigeria’s president, Bola Ahmed Tinubu, has suspended the governor of the nation’s apex financial institution, Godwin Emefiele. Learn why.
	Nigerian banks get a reduction Nigeria’s Inter-Financial institution Settlement System (NIBSS) has diminished the price of transactions for Nigerian banks. Nonetheless, this discount in charges is not going to be prolonged to the financial institution prospects. Learn more.
	Jumia goes offline Jumia goes offline in rural areas. On its eleventh anniversary, the ecommerce firm introduced that will probably be increasing its offline gross sales mannequin (J-force) to rural areas in Uganda. Learn more.
	One other expensive Apple Apple unveiled a mind-blowing blended actuality and 3D digicam headset this week. It prices $3499, so don’t begin digging into your sofa cushions for free change. Good factor it gained’t come out until 2024; you can begin saving now. Read more.

Who introduced the cash this week?

This week, Helium Well being, a Nigeria-based well being tech firm, received $30 million in Collection B funding in a spherical led by AXA IM Alts.
Nigerian logistics firm Haul247 raised $3 million in seed funding. The spherical was led by Alitheia Capital, with participation from Funding One.