Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Oman’s FSA has ordered Omantel to restate its 2024 financial statements within two months after identifying non-compliance with IFRS standards IAS 29 and IAS 21. The move, issued under the Capital Market Law, aims to strengthen transparency, investor protection, and confidence in Oman’s capital market.
e& delivered strong H1 2025 financial results with revenue of AED 34.9 billion (+23.3%), net profit of AED 8.8 billion (+60.7%), and 198 million subscribers. Strategic highlights include 5G network slicing, a UAE sovereign cloud partnership, international acquisitions, and major AI, fintech, and cybersecurity initiatives driving its global leadership.
Avanz Capital Egypt has joined Algebra Ventures’ second fund as a Limited Partner via a landmark secondary transaction, underscoring confidence in Egypt’s VC ecosystem. The partnership strengthens support for tech startups in Egypt and Africa, enabling greater capital inflows and deeper collaboration to fuel entrepreneurial growth.
e& delivered robust H1 2025 results with revenue of AED 34.9 billion (+23.3% YoY) and net profit of AED 8.8 billion (+60.7% YoY). Strong operational milestones, global acquisitions, AI and 5G innovation, and strategic partnerships reinforced its position as a global technology leader driving digital transformation.
Zimbabwe’s telecom sector recorded major Q2 2025 gains, with revenues up 9.24%, costs down 5.47%, and capital expenditure surging 261%. Data services dominated with nearly 48% of revenues, supported by a rapid 5G and LTE rollout, while traditional voice services continued to decline due to OTT alternatives.
Mobile Telecommunications Company Saudi Arabia’s share price dropped 39% over five years despite steady EPS growth, though dividends softened losses to a -12% TSR. Recent gains show a 1.8% TSR over the past year, suggesting a potential turning point amid cautious investor sentiment.
Ooredoo has sold a 6% stake in Qatar’s Meeza to Fiera Capital (UK), retaining only 4% as it prepares for a full exit. The move supports Ooredoo’s strategy to expand Syntys, its AI-ready hyperscale data centre platform, across MENA to power cloud, AI, and digital transformation.
e& posted AED 34.9 billion revenue (+23.3% YoY) and AED 8.8 billion profit (+60.7%) in H1 2025, driven by UAE subscriber growth and AI-powered services. Key moves included a sovereign cloud launch with AWS, Serbia Broadband acquisition, and fintech and entertainment expansion.
Delivery Hero has priced Talabat’s IPO at AED 1.60 per share, raising $2 billion in Dubai’s biggest tech listing of the year. The offering values Talabat at $10.2 billion, reflecting strong investor demand, and cements its position as the Middle East’s leading food delivery and quick-commerce platform.
Zain KSA has secured SAR 5.5 billion ($1.47bn) in Islamic financing from five banks to refinance existing loans maturing in 2025 and fund future operations. The facility, with a five-year term and one-year grace period, matures in 2030 and supports the telco’s growth strategy.