StanChart's net profit skyrocketed by 38% to a ceiling-shattering Ksh12.44 billion ($95.7 million) in 2022. On the other hand, Absa’s profit soared to Ksh14.6 billion (~$112 million). More in #TCDaily.
Africa’s most valuable company by market capitalisation, Naspers, has shut down its $100 million venture capital fund Naspers Foundry in an effort to scale down its operations.
On Friday, news broke that the US Federal Deposit Insurance Corporation (FDIC) had shut down Silicon Valley Bank (SVB).Here's a quick breakdown of why this is a big deal and how it affects African startups.