Egypt’s mobile phone companies have invested $2 billion over three years to expand frequency spectrums, contributing to the country’s ICT sector, which has grown at over 16% annually. Egypt ranks first in Africa for fixed internet speed and has advanced significantly in AI and digital transformation readiness.
Arzan Venture Capital has partnered with Ahmad Takatkah to launch Revenya Capital, a revenue-based financing firm focused on empowering tech startups in MENA. With an initial investment of $2 million, Revenya Capital aims to provide flexible, non-dilutive financing, leveraging AI to offer short-term loans for high-growth startups.
Bahrain has attracted over $100 million in investments from Singapore across financial services, ICT, and tourism sectors. The Bahrain Economic Development Board highlighted this milestone at the Singapore Fintech Festival, showcasing Bahrain’s appeal as a business-friendly hub with advanced regulatory frameworks and a skilled workforce.
Egypt-based agritech startup Viridia Tech has been awarded the $100,000 grand prize at the 2024 Mega Green Accelerator in Saudi Arabia for its data analytics platform that enhances sustainable farming practices. The competition showcased innovative solutions to food security, clean energy, and the circular economy across the MENA region.
Bahrain has secured over $100 million in investments from Singapore firms across financial services, ICT, and tourism. Bahrain EDB’s strategic presence in Singapore and robust regulatory environment have attracted international companies, underscoring Bahrain’s position as a business-friendly hub for innovation and financial services in the Middle East.
Moroccan prop-tech startup Agenz has secured an undisclosed investment from Renew Capital to expand its services across Morocco and Africa. Founded in 2020, Agenz uses data intelligence for property valuations and market insights, enhancing transparency in the real estate sector and enabling informed decision-making for buyers and sellers.
NOOG has been launched at GITEX Expand North Star by Hasna Al Mutawa, focusing on transforming camel care through advanced health technology. The platform will provide real-time monitoring and data-driven insights to enhance the health and well-being of camels, merging traditional practices with innovative solutions.
Egypt-based fintech Bokra has partnered with the Canadian International College to launch a USD 200,000 fund supporting aspiring student entrepreneurs. The initiative introduces Bokra Academy, which aims to bridge academia and industry by providing essential skills, certified courses, and access to employment or funding for entrepreneurial ventures.
Userguest, a Moroccan SaaS startup, has raised $2.4 million in Seed funding led by Al Mada Ventures. The platform helps hotels optimize direct revenue with personalized visitor messages. The funding will boost Userguest’s sales team and drive product innovation for rapid growth.
Bazzar Gate, a Kuwait-based e-commerce startup, has secured $1 million to enhance its platform, Partners. This investment will expand features and improve user experiences, facilitating easy e-commerce business setup for entrepreneurs.
