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SVB collapse forces African startups to rethink their banking options

The collapse of Silicon Valley Bank (SVB) last week sent ripples in startup ecosystems around the world, and it is emerging that millions of dollars held by African startups and venture capital funds at the bank were at stake, until the U.S. Federal Reserve acted to save the day. In…
Ghana General Deepak Dave Benjamin Fernandes Castle Hall Stephen Deng Kagure Wamunyu

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'A huge disruption': Startups worldwide gird for life after SVB

Startups from Silicon Valley to London, Tel Aviv and tech hubs across Africa depended on Silicon Valley Bank as a one-stop shop for everything, from holding their fortunes to personal mortgages. Now, the bank's failure has forced them to navigate a new world of banking just as the financial markets tip into chaos.
United States City Of United Kingdom San Francisco Tel Aviv Samuel Sul

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