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 SafaQat raised strategic funding from the Oman Future Fund and Idrak Group to enhance its AI-driven procurement platform. Founded by four brothers, it digitizes tenders and supports SMEs, with plans to expand government procurement and new markets. The platform leads Omani digital supply chains.
Space42 raises $695.5M financing for advanced geostationary satellites Al Yah 4 and 5, boosting secure multi-orbit connectivity across key global regions.
stc Kuwait’s H1 2025 highlights include 5G Advanced rollout, 5.2% revenue growth, and initiatives supporting startups, reflecting strong financial health and leadership in digital transformation.
Mastercard and Kashat collaborate to drive digital financial inclusion in MENA by streamlining onboarding and payment processes for unbanked communities.
Vodacom’s Q1 2025 revenue growth is fueled by strong performance in Egypt and fintech services, advancing its digital transformation and financial inclusion ambitions across Africa.
Mobily’s significant capex increase in early 2025 supports major infrastructure projects including 5G expansion and a new Saudi-Egypt submarine cable, contributing to rising profits and revenue growth.
Grameenphone saw declines in revenue and EBITDA in Q2 2025 but added 1.4 million customers, reflecting growth despite profitability pressures. Analyst consensus remains bullish with a Buy rating and NOK170 price target. Telenor continues to hold a strong position in Bangladesh’s telecom sector via Grameenphone.
MEA’s telecom sector posted $149 billion in 2024 spending, led by mobile data growth and infrastructure investment. Operators are transforming into tech firms, driving 5G, fiber, and AI adoption amid ongoing economic and geopolitical risks affecting future expansion.
Grameenphone reports slight profit increase despite revenue fall in Q2 2025; tax reductions aided marginal growth. Subscriber and data user base grows slightly amid macroeconomic challenges. Company declares 110% interim dividend.
Lucidya has raised $30 million in a Series B led by Impact46 to scale its AI-driven CX platform across 11 MENA countries. The funding supports expansion into AI Agent automation for customer-facing functions, leveraging a high-accuracy Arabic AI engine to transform regional CX while addressing labor and compliance challenges.