Donald Trump’s “Big Beautiful Bill” Act Adds 1% Tax on Remittances
Plus: Flutterwave's Send App returns to Europe and PAPSS launches Africa Exchange marketplace
Starting January 1, 2026, people sending cash remittances abroad from the U.S. will be hit with a 1% tax, part of the newly signed One Big, Beautiful Bill Act (OBBBA).
In The News This Week:
Flutterwave’s Send App Returns to Europe, Boosting Remittance Options for African Diaspora
African fintech giant Flutterwave has relaunched its cross-border payments platform, Send App, in Europe, offering Africans in the diaspora a faster and more secure way to send money home.
PAPSS Launches Continent-Wide Currency Exchange Marketplace to Boost Intra-African Trade
The Pan-African Payment and Settlement System (PAPSS), in partnership with deep-tech firm Interstellar, unveiled the PAPSS African Currency Marketplace (PACM) — a next-gen financial market infrastructure designed to solve Africa’s persistent currency convertibility challenges.
UNICEF Startup Lab Welcomes 25 Startup Ventures For Its 2025 Cohort
25 social impact tech-enabled startups were welcomed into the 5th cohort of the UNICEF StartUp Lab accelerator programme.
In the rest of the news (ICYMI):
Flutterwave Secures License to Launch Full Payment Services in Senegal
Flutterwave, NoraFirst Team up to Boost Africa–East Asia Trade Payments
Africa Ecosystem Activity
SA fintechs Float, Adumo partner to offer flexible in-store payments with mainstream retailers
Nigerian voice AI startup Intron expands from health into other key sectors
Kenyan mobility startup BuuPass raises funding from Yango Ventures
Aria Ventures launches $1m fund to boost deep-tech investment in Egypt
Egyptian fintech startup Swypex rolls out spend control card