Yango Ventures, part of Yango Group, is supporting early-stage startups with an initial $20 million fund. The venture focuses on sectors like O2O, B2B SaaS, and FinTech, aiming to foster innovation and sustainable growth. The initiative also emphasizes digitalization and economic development in high-growth markets globally.
Jordan’s tourism sector saw strong growth in February, with tourism revenue rising by 10% year-on-year to JD428 million. International arrivals surged by 13%, while overnight visitors increased by 9%. These gains are driven by strategic marketing, enhanced services, and resumed flight routes, aligning with Jordan’s goal of sustained tourism growth.
The “Tech-Driven Sustainability Trends and Index 2024” study reveals that 76% of businesses across Asia, Europe, and the Middle East see AI and cloud computing as key to sustainable development. However, concerns over energy consumption remain, with businesses emphasizing the importance of green technologies and human oversight in AI.
Federal Commerce Minister Jam Kamal Khan met with OCCI Chairman Faisal Abdullah Al Rawas in Muscat to discuss enhancing trade between Pakistan and Oman. The meeting was followed by a B2B networking session to explore business opportunities. Both sides agreed to strengthen ties through the Joint Business Council and enhanced connectivity.
Jordan’s imports of mobile devices in 2024 totaled approximately JD176 million, with 1.855 million devices entering the market. Purchases using debit cards reached JD60.2 million, and tablet imports amounted to JD45 million. This marks significant growth in mobile device sales, reflecting increasing demand and the shift towards digital transactions.
Moov Africa Gabon, a subsidiary of Maroc Telecom, avoided nationalization despite Gabon’s recent economic shifts under new leadership. While the country nationalized key energy firms, the telecommunications sector remained untouched. Maroc Telecom holds a 52% market share, with rival Ariel Gabon at 48%, ensuring stability for the telecom market.
Two engineering students from Sohar University, Reem al Dhahouri and Al Zahraa al Maamari, have developed a sustainable hydroponic farming project that uses local agricultural waste, smart sensors, and solar energy to reduce water and fertilizer consumption. The project aims to enhance food security and promote environmentally friendly farming practices.
TAQA and ACWA Power, along with other international firms, have secured multi-billion-dollar green hydrogen projects in Morocco. These projects, focused on ammonia, industrial fuel, and green steel production, are part of Morocco’s efforts to strengthen its position in the global green energy market, with a combined value of nearly $32 billion.
Saudi Arabia’s Alat has acquired a 15% stake in TK Elevator and launched a €160 million ($166.62 million) joint venture to manufacture elevators and escalators locally. The JV will be headquartered in Saudi Arabia, supporting the kingdom’s vision to become a global leader in electronics and advanced industries.
Sonatrach CEO Rachid Hachichi reaffirmed the company’s commitment to Algeria’s industrial transformation by modernizing its fertilizer and chemical sector to boost food security. He also inspected the Koudiet Eddraouche desalination plant, marking a significant step in the country’s water security program, which aims to meet 60% of drinking water needs by 2030.
