Connect Money, an Egyptian fintech startup, raised $8 million in seed funding to expand in Egypt and Morocco. The funds will support new business verticals and enhance technological capabilities. Founded in 2024, Connect Money offers a white-label card issuing platform and various financial solutions, aiming to transform banking operations in North Africa.
MSMEDA and Telecom Egypt have signed an MoU to support entrepreneurs and startups by offering special mobile and internet packages, integrating them into the formal sector, and enhancing their competitiveness. This collaboration aims to boost digital transformation, productivity, and local and global competitiveness.
NIGCOMSAT and Infratel Africa have partnered to enhance rural connectivity in Nigeria by migrating 100 locations to the NIGCOMSAT-1R Ka-band hub platform. This collaboration aims to bridge the digital divide, promoting digital inclusivity and transformational services in unserved and underserved communities.
The UAE leads global AI adoption with 91% consumer awareness and 34% active usage of generative AI, according to BCG. UAE employees are enthusiastic about AI’s potential, but challenges remain. BCG advises focusing on transparency, piloting new ideas, and prioritizing change management to successfully leverage AI.
Morocco is witnessing a significant surge in mobile and internet usage, with mobile phone subscriptions exceeding 55.4 million in Q1 2024 and an internet penetration rate of 103.5%. This growth reflects the country’s ongoing digital transformation, driven by improved telecommunications infrastructure and increasing affordability.
Airtel Telesonic, in partnership with Alcatel Submarine Networks, has activated the 2Africa submarine cable system, connecting Kenya, Tanzania, and South Africa. This milestone enhances high-speed internet access and supports digital transformation across Africa, marking a significant step in bridging the digital divide on the continent.
Mindware has expanded its MAGIC Hub to include comprehensive AI services, simplifying AI adoption for customers. This strategic move supports partners through all AI deployment phases, offering tailored solutions across various industries. Integrating top technologies, Mindware aims to lead in digital transformation and AI distribution in the region.
Researchers at American University of Sharjah (AUS) have developed luminescent sensors that detect trace amounts of phosphorus-based toxic compounds. These sensors, patented and funded by AUS, can detect and neutralize chemical warfare agents and pesticides in real-time, offering significant applications in defense, environmental monitoring, and public safety.
Ooredoo Group has partnered with Nvidia to bring the full-stack AI platform to the Middle East, enhancing AI infrastructure and offering advanced AI tools to governments, enterprises, and startups across the region.
AWCC has launched its first 4G internet services in Kabul, with plans for nationwide expansion. This high-speed, cost-effective service enhances economic and infrastructural development, offering faster and more reliable internet for various devices.
