Barq, a Saudi fintech led by Ahmed Alenazi, has garnered over 1 million users in just three weeks following its public debut. Licensed by SAMA, the startup offers extensive features including digital personal accounts, Visa cards, and international money transfers, rapidly positioning itself as a major player in the fintech sector.
Maxab and Wasoko have completed their merger, creating Africa’s largest B2B retail network with over 450,000 merchants and 4,000 employees across five countries. The combined entity, led by co-CEOs Belal El-Megharbel and Daniel Yu, aims to double its revenue by year-end while enhancing trade between North and East Africa.
The contract, which was granted to OneSubsea last month, involves a 13-well subsea production system for the 70, 000 parrel per day project which expects first production in 2028.
Zain KSA and Huawei have introduced advanced FWA² solutions under Saudi Vision 2030, enhancing connectivity for home, business, and underserved users. These solutions offer high-speed, reliable internet with innovations like FWA Pro, FWA Lite, and FWA Business, supporting digital transformation and bridging connectivity gaps across Saudi Arabia and the Gulf region.
ONIC, a digital telco brand launched a year ago, has quickly transformed Pakistan’s telecom industry with its digital-first approach. The brand’s rapid growth in subscribers highlights its strong market appeal and innovative strategy, setting new standards and prompting competitors to follow suit in the traditionally conventional telco market.
Nigeria is expanding its digital economy with initiatives like the National Broadband Plan 2020-2025 and free public Wi-Fi projects in various states. These efforts aim to improve internet access, reduce the digital divide, and promote economic growth. NITDA regulates these initiatives to ensure quality, security, and widespread availability across the country.
Morocco’s telecommunications sector saw significant growth in the first half of 2024, with the subscriber base reaching 59.8 million, driven by a 5% increase in mobile users. Internet subscriptions also grew by 6.9%, surpassing 39.1 million, reflecting the country’s digital transformation and resulting in a mobile penetration rate of 152.1%.
The Holy Makkah Municipality has launched a digital afforestation initiative through the Nabatik platform, allowing citizens and residents to contribute to increasing green spaces and reducing carbon emissions. Participants can select tree species, choose planting locations, and make payments online, supporting Makkah’s environmental and climate goals from the comfort of their homes.
Jazz, Pakistan’s leading digital operator, and the Special Technology Zones Authority (STZA) held a session to explore a long-term partnership focused on advancing Pakistan’s digital transformation. Both organizations expressed a commitment to fostering innovation and enhancing the country’s technology ecosystem, aiming to position Pakistan as a leader in the global digital arena.
Abu Dhabi-based ERP provider Hulexo has secured seed investment from Arzan VC to expand its presence in the Middle East, aiming to reach 300 retail locations by 2025. The investment will also support Hulexo’s entry into Kuwait and Saudi Arabia, enabling partnerships and continued innovation for retail SMEs in the region.
