Khazna, an Egyptian fintech startup, has raised $16 million in pre-Series B funding, bringing its total funding to over $63 million. The company provides financial services like salary advances and microloans to low-income workers. It plans to expand into Saudi Arabia and apply for a digital banking license in Egypt.
LOGIC has acquired a majority stake in NEXEL, enhancing its digital and AI-driven consulting capabilities. This acquisition will strengthen LOGIC’s position in key markets like the UAE and Saudi Arabia, combining NEXEL’s expertise in digital strategy with LOGIC’s regional reach to offer transformative solutions for businesses.
Vodafone Egypt has renewed its exclusive partnership with Anghami and OSN+, offering exclusive access to their services for Vodafone RED and FLEX customers. This collaboration aims to enhance digital entertainment offerings in the Middle East and North Africa, reinforcing Vodafone Egypt’s role as a leader in entertainment content.
TRENDS Research & Advisory hosted a panel discussion with Egyptian Senate President Abdel Wahab Abdel Razek, focusing on the role of research in legislation, AI technologies, and societal progress. The event emphasized the importance of collaboration between research institutions and legislative bodies in shaping the future through innovation and policy.
Mobily has announced the landing of the Africa-1 submarine cable in Duba, Saudi Arabia, enhancing broadband connectivity across Africa, the Middle East, Asia, and Europe. With a capacity of 96 terabits per second, it will power 5G networks, AI systems, and IoT, contributing to Saudi Arabia’s Vision 2030 goals.
Grameenphone (GP) posted a 10% profit growth in 2024, reaching Tk 36.4 billion, and declared a record 330% cash dividend. Despite a 4.9% revenue decline due to cautious consumer spending, GP’s EBITDA rose, and the company plans continued investment in network improvements and AI technology to drive future growth.
Arab Financial Services (AFS) has partnered with Nsano to enhance digital payments across Sub-Saharan Africa. By integrating AFS’s card processing services into Nsano’s mobile money infrastructure, the partnership will enable Visa and Mastercard processing, boosting financial inclusion and providing more payment options for financial institutions and merchants in the region.
L’Algérienne Vie (AGLIC) has partnered with Banque Nationale d’Algérie (BNA) to launch a digital solution for underwriting and paying insurance policies online via the “WIMPAY-BNA” app. AGLIC reported a 154.3% increase in net profit for 2023, reaching 501 million DZD, with a return on equity of 31%.
TRAI has recommended auctioning mmWave spectrum for 5G services in the 37-40 GHz bands at a 14% lower price than previous auctions. The reserve price is set at INR 59.8 million per MHz. This move aims to encourage more participation from telcos and speed up 5G deployment in India.
e& Carrier & Wholesale is expanding globally with new strategic hubs in Miami and Johannesburg, while enhancing its presence in London and Singapore. This expansion strengthens its role in providing advanced connectivity services, including AI-driven solutions, to telecom operators, enterprises, and digital-first businesses in emerging markets.
