Business/Brands & Marketing
TECH ROUNDUP: Kuda in trouble over transactions logjam, Twitter Blue now in Nigeria
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Kuda customers have raised concerns about transaction history discrepancies
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Twitter Blue is now in Nigeria and South Africa
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Meta is building an app to rival Twitter
Kuda customers are again raising concerns about discrepancies in their bank statements. Over the weekend, customers took to Twitter to complain about transactions that they made missing from their history. Customers are specifically alarmed because Kuda Bank doesn’t send SMS alerts. “Can someone explain to me why there is a balance discrepancy on my kuda account please?” one user posted.
SOCIAL MEDIA
Twitter Blue is now officially available in Nigeria and South Africa for ₦5,000 and R144.99 monthly, respectively, TechCabal reports. Previously, users in both countries who subscribed to the service used virtual private networks to gain access to other countries’ IP addresses where the service is available.
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Meta is in the early stages of building a dedicated app for people to post text-based updates, to rival Twitter. “We’re exploring a standalone decentralized social network for sharing text updates,” the company revealed. “We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.”
WORLD NEWS
Silicon Valley Bank, a strong financial pillar of the global tech ecosystem crashed on Friday after 40 years of operations from its perch in California, US.
The Federal Deposit Insurance Corporation in America has taken over the bank, putting nearly $175 billion in customer deposits under its control. America’s Treasury Secretary, Janet L. Yellen said on Sunday that regulators were working throughout the weekend to deal with the fallout from the collapse of the bank.
Silicon Valley Bank’s failure came two days after its emergency moves to handle withdrawal requests and a precipitous decline in the value of its investment holdings shocked Wall Street and depositors, sending its stock careening.
The bank, which had $209 billion in assets at the end of 2022, had been working with financial advisers until Friday morning to find a buyer, a person with knowledge of the negotiations said.
