Egypt secured its position as one of Africa’s top five technology investors in 2024, with $297 million invested in 89 deals. The country also leads Africa in fixed broadband internet speed and continues to make strides in digital infrastructure, ensuring it remains a key player in the continent’s technological transformation.
Egypt has seen a significant rise in internet users and earned top global cybersecurity rankings, despite rising cyber threats. The country ranks second in Africa for cyberattacks, with data breaches targeting multiple sectors. In response, Positive Technologies will host a cybersecurity event in Cairo to foster collaboration and knowledge-sharing.
Basata Holding has increased its stake in MadfoatCom to 25%, enhancing digital payment services in Jordan. The strategic acquisition, in partnership with major Jordanian financial institutions, aims to expand financial inclusion and improve digital infrastructure. The collaboration focuses on enhancing payment solutions, particularly for small and medium-sized enterprises (SMEs).
AI and data-driven strategies are reshaping business operations, as highlighted by experts at the 11th Digital Summit. Keynote speaker Zaved Akhtar emphasized AI’s role in optimizing business processes, from inventory management to marketing strategies. The summit discussed the importance of digital transformation for engaging with emerging consumer generations.
VEON CEO Kaan Terzioğlu discussed the challenges and growth potential in Bangladesh, emphasizing the need for regulatory reforms to support digital services expansion. Despite market challenges, VEON continues investing in the country, aiming to transform Bangladesh into a digital economy by offering telecom, financial, and other digital services.
Parcel, a Hope Ventures portfolio company, has expanded its operations into Saudi Arabia after revolutionizing delivery services for 3,000 businesses in Bahrain. Through its tech-driven platform, it offers a cost-effective alternative to fleet management, empowering businesses to streamline operations and improve customer satisfaction.
Lola Do Inc. raised $1.3 million in pre-seed funding, led by Vision Ventures and Plus VC, to revolutionize the cake customization industry. With its mobile app, Lola offers personalized cakes for every occasion, expanding rapidly in Saudi Arabia, Bahrain, and the UAE. The company is poised for further regional growth.
Bahrain plans to merge nine government apps into the MyGov app by 2025, simplifying access to services for individuals, businesses, and visitors. The integration includes adding new eServices, documents, and a unified payment feature, with the app already achieving 100,000 downloads within two weeks of its launch.
WeeWee Delivery, an Algerian startup launched in 2022, is reshaping the logistics sector by offering a more flexible, efficient delivery solution. Through its mobile app and features like “WePeaks,” the platform connects e-commerce businesses with freelance couriers, providing cost-effective alternatives to traditional delivery methods and expanding nationwide.
Qatar has signed a five-year deal with Scale AI to deploy AI tools and training, aiming to enhance government services. Over the next five years, Scale AI will help Qatar develop more than 50 AI applications. This partnership reflects Qatar’s ambition to become a regional AI leader.
