Investable idea is now Google's bullet point

May 26, 2025

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If you have family or friends who send money from the U.S., things just got brazy — Trump is proposing a 5% tax on remittances. So if you have been relying on that abroad bag, you might just want to lock in and chase your own bag because that money is about to reduce thanks to Elon’s Bestie.

ICYM the last edition, read here

Official News from Last Week
1. Africa Delivery Technologies Holding, the Dutch parent of Nigerian delivery startup Kwik, has been declared bankrupt by an Amsterdam court after a legal dispute with a former executive led to a debt of $50,000.

2. Mohamed Chaudry, CFO of YC-backed Vendease, stepped down in April 2025 amid a restructuring push to achieve profitability and secure new funding.

3. Carrot Credit, a Nigerian fintech providing loans backed by digital assets such as stocks, ETFs, and crypto, has secured $4.2 million in seed funding.

4. In 2025, Nigerian banks are facing slower profit growth as the temporary gains from naira devaluation and steep interest rate hikes are starting to wear off

5. On May 22, 2025, the U.S. House passed a Trump-backed bill that includes a 5% tax on remittances sent abroad by non-citizens.

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