Diaspora dollars: How Africa's diaspora can fuel startup growth
The African diaspora sent nearly $100 billion to the continent last year, surpassing venture capital funding. Building financial products tailored to immigrants and investing in the creative sector could be areas for innovation.
Local banking solutions step up following Mercury’s withdrawal
Several African startup founders have been asked to close their accounts with American neobank, Mercury, due to compliance changes. African startups often need US bank accounts to boost credibility with investors.
Raenest, Leatherback, Vesti, and Graph pitch themselves to African founders as Mercury alternatives
African fintechs are wooing founders affected by Mercury's compliance changes. Raenest, Leatherback, and Vesti are pitching to startups seeking new banking partners.
US Bank Mercury to close accounts of startups in 13 African countries after internal compliance changes
Mercury, a San Francisco digital bank, will close the accounts of users in thirteen African countries by August 22, 2024. The new restrictions will affect users in 37 countries.
