Leatherback won't fold

It says clients' funds are safe                                                                                                                                                                                                                                                                                                                                                                                                                 September 06, 2023 | [Read Online]( It says clients' funds are safe In partnership with Share this newsletter: //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3zd/CMTEo9WxTT65wSn1TWmk6w/h2/AgKw6z7ucajPLRfg06VNRG_4NGYipWJnPnmI__dHMJU [Lire en Français]( [اقرأ هذا باللغة العربية]( Good morning ☀️ It is Africa Climate Week, so Kenyan President Ruto has been using an all-electric fleet for his motorcade. Even his security team traded in their internal combustion engine motorcycles for electric ones from local EV upstarts like [Roam](, [Ampersand](, [Spiro](, and [KiriEVs](. But will they keep driving green after the summit lights dim? In today's edition - [Leatherback denies rumours of financial losses]( - [Nigeria to clear $10 billion FX backlog in two weeks]( - [Bitcoin nonprofit acquires Qala]( - [Amazon and Vodafone team up to challenge Starlink]( - [The World Wide Web3]( - [Event: The Moonshot Conference]( - [Opportunities]( Fintech //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3zd/CMTEo9WxTT65wSn1TWmk6w/h18/pJp78qwAHFPHJhRb78hVFYE1ABm06Z3xT58tEmcTJCE Leatherback denies rumours of financial losses source: Zikoko Memes Leatherback, a UK-based cross-border payments startup, has [denied rumours]( of financial losses to SDQ Facilitators. The company says that its bank accounts are fully functional and that all client funds are safe. What are the rumours? The rumours, which have been circulating online, allege that [Leatherback]( lost money to SDQ Facilitators, a Nigerian currency trading company and that transactions with SDQ Facilitators had exposed the fintech to an ongoing investigation that has left its bank accounts frozen worldwide. However, Leatherback CEO Toheeb Ibrahim has denied the rumours and said “It's terrible and laughable.” Ibrahim claims that Leatherback has no relationship with SDQ Facilitators and adds that Leatherback's accounts are fully functional. Zoom out: The rumours about Leatherback are circulating after we exclusively reported that Float, a fintech company originally founded to help startups with cashflow management, dabbled into currency trading instead. In a series of transactions that eventually went wrong, the startup [lost money]( and could not pay at least $6 million in client deposits. Get a working card from Moniepoint With the Moniepoint personal banking app, you get reliable payments every time and a card that always works. Enjoy seamless payments powered by the infrastructure that 1.5 million businesses trust. [Download the app](. Banking //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3zd/CMTEo9WxTT65wSn1TWmk6w/h27/G1i_OGaIzfGeDvM67RlJLEa7jL6EI0w-7Bg4HsSPa-8 Nigeria to clear $10 billion FX backlog in two weeks [A shocking account balance](Image source: Zikoko Memes Nigeria is rolling up its sleeves to tackle a multi-billion dollar backlog. Nigeria’s acting Central Bank Governor, Ade Shonubi,has announced that [the central bank will clear]( the backlog of foreign exchange (FX) demand in two weeks. Side bar: An FX backlog typically refers to a situation in the foreign exchange (FX) market where there is a buildup of unprocessed or unsettled FX transactions. These can include pending orders, trades awaiting confirmation, or transactions that have not been cleared or reconciled. Currently, a backlog of about $10 billion has been weighing on the economy. Shonubi said that the CBN will be working with local banks to fix the problem as they currently contribute three times more FX than the central bank. Zoom out: The backlog of foreign exchange demands has reduced investor confidence in Nigeria, with rightful fears that investors might not be able to recoup [any profits they make]( in Nigeria. Acquisition //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3zd/CMTEo9WxTT65wSn1TWmk6w/h33/xYT2jzCb4QVfNt40UF5SNkQkWlhpM66lAHH-AIq3nOA Bitcoin nonprofit acquires Qala [A gunfight](Image source: TechCabal ₿trust, the non-profit company formed by Block CEO Jack Dorsey and American rapper and entertainment mogul Shawn Carter, popularly known as Jay-Z, has [acquired]( Qala, an organisation that trains African Bitcoin and Lightning engineers. More about Qala: [The company]( sources, trains, and matches African software developers with leading Bitcoin companies from across the world. With its latest acquisition by ₿trust, Qala has the needed resources to build the next generation of African Bitcoin talent pipeline. Unlock new opportunities for your business Unlock new opportunities for your business with Vesicash! Seamlessly expand into emerging markets using our secure, all-in-one and cost-effective payment infrastructure. Contact Vesicash via our website [www.vesicash.com]( or reach out to our dedicated team at info@vesicash.com mailto:info@vesicash.commailto:info@vesicash.com mailto:info@vesicash.com mailto:info@vesicash.com [Internet](mailto:info@vesicash.com) mailto:info@vesicash.com//link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3zd/CMTEo9WxTT65wSn1TWmk6w/h41/meYzjGB1EM_qY3En3unSbEMfUbV1zwlh9-QRDwjRN-0 Amazon and Vodafone team up to challenge Starlink source: TechCabal Starlink has gotten a new competitor. Yesterday, Amazon and Vodafone [teamed up]( to bring 4G/5G to more customers in Europe and Africa using Amazon’s Project Kuiper's satellite network. What is Project Kuiper? It is an initiative to bring fast, affordable broadband to unserved and underserved communities around the world. [Project Kuiper]( claims to connect cellular antennas in remote areas to Vodafone and Vodacom's core telecom networks, allowing them to offer 4G/5G services in more locations without the need for expensive fibre or fixed wireless links. Amazon expects to begin beta testing Project Kuiper services with select customers by the end of 2024, and Vodafone and Vodacom plan to participate in this testing as part of their collaboration. A competitive landscape: Starlink has faced regulatory challenges in some African countries, making Project Kuiper's collaboration timely and potentially advantageous. In August, the Senegalese government [arrested people selling Starlink]( in the country after shutting down the internet for the second time in two months, citing violations of the country's telecommunications laws. Last week, the Zimbabwean government [warned](that it is illegal to use or resell Starlink equipment in the country. Unless they secure requisite licenses, they are breaking the law by using and providing the service. Crypto Tracker //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3zd/CMTEo9WxTT65wSn1TWmk6w/h49/MGWzXZWuOMQNlb418TaF64pQ1AVxzQuhvC4UFNDWBnQ The World Wide Web3 Source: [Tc_insight] Coin Name Current Value Day Month Bitcoin $25,732 + 0.01% - 11.38% Ether $1,631 + 0.52% - 11.07% BNB $214 - 0.20% - 11.69% Cardano $0.25 + 0.81% - 12.27% * Data as of 10:25 PM WAT, September 5, 2023. Elevate your business with One Liquidity's seamless integration. Choose from 10+ services to craft a custom solution. Join Obiex, Wewire, and others in providing trading, liquidity & compliance services. [Start now with zero upfront fees](. One integration. One solution. One Liquidity. Events The Moonshot Conference Early bird tickets are still selling out fast for Moonshot by TechCabal! If you're an international fan eager to be part of this incredible event, the time has come for you to secure your seat and get an exclusive discount. Be part of the gathering of the most audacious players in Africa's tech ecosystem and get your early birds ticket now. [Get your ticket today.]( Opportuinities //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3zd/CMTEo9WxTT65wSn1TWmk6w/h56/uGSliSQJcatZfbzPK6fO5WWQJvBfChnJpV9bOsYpD8Y - Want to build a successful tech business? Sign up for this 5-week training programme and gain access to resources worth over $15,000. [Apply by September 10.]( - The SaaS Accelerator Programme: Africa 2023 has opened applications for its accelerator programme to enable early startups in Africa to receive funding. Selected startups will receive up to $70,000 in funding. [Apply by September 7](. - Wise Guys SaaS Accelerator Program is looking to help SaaS startups level up through tailored guidance and support from world-class mentors and experts. [Apply before September 7](. What else we are reading - [What we can learn from AI startups in Y Combinator’s latest batch]( - [How Zimbabwe’s biggest fast-food company became a popular fintech solution]( Written by - [Mariam Muhammad]( & [Faith Omoniyi]( Edited by - [Noah Banjo]( [Unsubscribe from TC Daily]( [fb]( [tw]( [ig]( [yt]( [in]( Update your email preferences or unsubscribe [here]( © 👨🏿‍🚀TC Daily 18 Nnobi Street Surulere, Lagos 101212, Nigeria [[beehiiv logo]Powered by beehiiv](