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MFS Africa Leads $2.3M Seed Round in Ugandan Fintech Startup Numida

“Small businesses in Africa need digital banking services including plenty of credit. Although these businesses drive economic growth and contribute up to one-third of the continent’s GDP, they are often financially excluded from credit and other financial services due to their size and informality. One such company tackling this challenge in the eastern part of […]


Big U.S. Banks Cut Loans to Record Low, Again, as Deposits Jump

“The 25 biggest U.S. banks collectively reduced their loan holdings by 8% in the year through March, according to the Federal Reserve’s latest weekly survey. Total loans fell by $447 billion to $5.45 trillion, Fed data show. Meanwhile, total deposits, which provide the funds that banks lend out to borrowers, jumped 16% to $10.13 trillion. […]