Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
MoneyFellows, an Egyptian fintech, raised $13 million to scale its digital platform for Rotating Savings and Credit Associations (ROSCAs). With over 8.5 million users, the company has achieved profitability and plans to expand across Africa and South Asia. It aims to modernize informal savings models while maintaining a lean operation.
Malaysia has become the world’s ninth-largest exporter of high-tech products in 2023, with a record high of $127 billion in high-tech exports. This performance, representing 59% of total manufacturing exports, is the country’s strongest in the past decade. Malaysia also achieved its highest trade surplus in ten years.
MoneyFellows, an Egyptian fintech, raised $13 million in a pre-Series C funding round to expand its digital platform for money circles. The platform allows users to save and borrow together using a mobile-based system, expanding beyond traditional groups. The company now has 8.5 million users and has reached profitability.
bKash, a leading mobile financial services provider in Bangladesh, reported a 67% increase in profit and a 20% rise in revenue for 2024. The company posted a profit of Tk 315.77 crore and revenue of Tk 5,058.20 crore, reflecting strong growth since its establishment in 2010.
Mastercard has partnered with Bahrain’s Tamkeen to launch the first Mastercard Strive program in the Middle East, aimed at enhancing financial and digital readiness for SMEs in Bahrain. This collaboration will support entrepreneurs by providing access to digital tools, capital, and networks, fostering growth and innovation in Bahrain’s SME sector.
Saudi Arabia’s General Presidency for the Affairs of the Grand Mosque and Prophet’s Mosque has unveiled its most extensive operational plan for the upcoming Hajj season. The plan focuses on enhancing pilgrim services, featuring AI robots, multilingual smart screens, and educational platforms, ensuring a seamless and meaningful Hajj experience.
Algérie Télécom celebrated its 22nd anniversary by reaching over two million FTTH connections and launching WiFi 7 at Hotel Aurassi. This initiative highlights Algeria’s digital progress, with download speeds of up to 2.1 Gbps and a commitment to providing high-performance connectivity across key sectors, driving the nation’s digital transformation.
OSP CyberAcademy has partnered with Bahrain’s NCSC to provide cyber safety education to 70,000 students. The program includes culturally tailored, gamified courses designed to teach children aged 6 to 17 about cybersecurity and online safety. The initiative aims to help students navigate the digital world safely and responsibly.
Algérie Télécom is offering a limited-time promotional deal for new customers subscribing to IDOOM Fibre offers with speeds of 30 Mbps or more. From May 4 to June 2, 2025, customers will enjoy 1 Gbps internet speed for 30 days, along with free modem and installation, for only 1,000 DZD.
e& has partnered with Digicel Group to enhance international voice services across the Americas. The collaboration focuses on optimizing operations, boosting service quality, and deploying AI-driven fraud prevention technologies to protect the telecom ecosystem. This partnership supports Digicel’s wholesale strategy and strengthens its market position.