Ariika, an Egyptian home furnishing e-commerce startup, has raised $3 million in Series A extension funding, led by Beltone Venture Capital and Citadel International Holdings. The new capital will fuel its expansion in Saudi Arabia and Iraq, with Ariika poised for significant growth in the MENA home décor market.
Artificial Intelligence is transforming financial services in Bangladesh, enhancing operational efficiency and customer experience, while also broadening financial inclusion. AI applications range from customer service chatbots to sophisticated fraud detection algorithms, contributing significantly to the development of a more inclusive and efficient financial landscape.
At the World Business Angels Investment Forum 2024, Bahraini startups showcased their innovative projects under the patronage of Prince Salman bin Hamad Al Khalifa. Entrepreneurs like Dr. Hamad Al Sayed and Zainab Adel Al Shuwaikh presented solutions ranging from AI-driven investment platforms to eco-friendly agricultural products, aiming to attract global investors and expand internationally.
SAP and Chalhoub Group have partnered to implement RISE with SAP, hosted on Microsoft Azure, as part of Chalhoub’s digital transformation. This collaboration will modernize Chalhoub’s IT infrastructure, enhance operational efficiency, and leverage AI to optimize business processes, supporting its expansion plans across the Middle East and beyond.
Mobily signed several MoUs at Connected World KSA, enhancing global connectivity and digital infrastructure. Partnerships with IQNET, China Telecom, and Supercell Iraq aim to strengthen regional telecom solutions. Mobily’s investments in submarine cables, data centers, and local networks support Saudi Arabia’s Vision 2030, driving digital transformation across the region.
Deloitte has expanded its Anaplan offerings to the GCC market, aiming to enhance business planning and decision-making with advanced data and analytics tools. The collaboration will help organizations streamline operations and improve forecasting capabilities, driving digital transformation and economic growth in the region.
The Pakistan Telecommunication Authority (PTA) has contracted National Economic Research Associates Inc. (NERA) for consultancy on releasing IMT spectrum to enhance next-generation mobile broadband services. The consultancy includes stakeholder consultations and will provide recommendations on reforms, spectrum valuation, and auction design. The process is expected to conclude by April 2025.
Chinese companies took center stage at Cairo ICT 2024, showcasing innovations in 5G, AI, blockchain, and satellite communications. The event provided a platform for expanding in the Middle East and Africa, with significant participation from companies like Hengtong and BAOSH Communications, further enhancing Egypt’s role in regional tech advancements.
Vodacom Group has partnered with AWS, Microsoft, and Skillsoft to launch a Digital Skills Hub, aiming to upskill 1 million young Africans by 2027. The hub will provide self-paced digital training to youth across eight countries, addressing Africa’s digital skills gap and preparing the next generation for the workforce.
Kuwait is advancing its digital transformation under Vision 2035 with key initiatives in biometric technology and digital identity systems. The country is investing in secure data networks and digital services to diversify its economy, enhance security, and strengthen its position as a regional technological hub for the future.
