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$40-million in Flutterwave’s accounts frozen in Kenya

$40-million in Flutterwave’s accounts frozen in Kenya

A court in Kenya has frozen over $40 million in accounts belonging to Africa-focused payments giant Flutterwave under the country's anti-money laundering laws, court documents showed. Founded in 2016 in Nigeria, the San Francisco-headquartered firm specialises in individual and consumer transfers, one of several fintech firms facilitating and capitalising on Africa's booming payments market. Earlier this year, the firm raised $250 million, valuing the startup at more than $3 billion. Kenya's Assets Recovery Agency sought and was granted a High Court order to freeze several accounts with three banks belonging to Kenyan-registered Flutterwave Payment Technology Ltd. Flutterwave confirmed to Reuters…
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Kenyan‌ ‌ex-sports‌ minister‌ ‌jailed for‌ ‌6 years‌ ‌

Kenyan‌ ‌ex-sports‌ minister‌ ‌jailed for‌ ‌6 years‌ ‌

A Kenyan court has sentenced a former sports minister to six years in prison after finding him guilty over the siphoning of funds meant for athletes in the Brazil Olympics five years ago. Former National Olympic Committee of Kenya (NOC) official Stephen Soi and former Kenyan sports minister Hassan Wario look on during their sentencing for corruption charges in connection with the 2016 Rio Olympics funds, at the Milimani Law Courts in Nairobi, Kenya September 16, 2021. REUTERS/Monicah Mwangi The East African nation enjoyed its most successful Olympics in Rio, winning six gold medals, six silvers and one bronze in…
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Kenyan court finds two men guilty for roles in 2013 shopping mall attack

Kenyan court finds two men guilty for roles in 2013 shopping mall attack

A Kenyan court today found two men guilty of helping al Qaeda-linked militants launch a 2013 assault on a Nairobi shopping mall in which gunmen killed at least 67 people. A third man who also faced charges under the country's terrorism prevention act was acquitted on all charges. The trial is the only prosecution Kenya has mounted so far over the attack by gunmen from the Somali militant group al Shabaab on Nairobi's Westgate shopping mall, at the time seen as a symbol of the East African country's growing prosperity. It was the worst attack by Islamist militants in Kenya,…
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