Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Media City Qatar and Commercial Bank signed an agreement to streamline banking support for investors and licensed companies, simplifying business setup and enhancing financial services. This partnership supports Qatar National Vision 2030’s goals of economic diversification and innovation in the media and technology sectors.
Maroc Telecom raised MAD 3 billion ($330 million) through its first private bond in Morocco’s domestic market, to refinance debt and invest in 5G and fiber infrastructure. Despite a slight profit decline in Q1 2025, the company expanded its customer base to 80 million and strengthened its African presence with IFC-backed credit for Chad and Mali.
UAE-based VC fund EQIQ has invested $3 million in InstaBank, a new AI-powered digital bank in Iraq, as part of a $15 million funding round. Led by finance veteran Hussain Qaragholi, InstaBank aims to transform Iraq’s financial sector with scalable, inclusive fintech services and serve as a core pillar of EQIQ’s regional digital ecosystem strategy.
Saudi Arabia’s fast-growing delivery startup Ninja has secured $250 million in funding led by Riyad Capital, reaching a $1.5 billion valuation and becoming the Kingdom’s newest tech unicorn. The funding highlights Saudi Arabia’s expanding venture capital ecosystem and startup scene, supporting the government’s efforts to diversify the economy. Ninja plans an IPO by 2027 and operates in multiple Gulf countries, reflecting regional growth in tech-driven logistics services.
Saudi Arabia’s National Technology Development Program is strategically attracting Egypt’s deep-tech startups by offering significant grants and support to relocate and expand within the Kingdom. This effort aligns with Vision 2030’s ambitions to establish Saudi Arabia as the Gulf’s technology capital and regional innovation powerhouse, reshaping the MENA tech ecosystem through targeted investments and partnerships.
Axian Telecom has issued a $600 million bond to finance the expansion and modernization of its telecom infrastructure across Africa. This capital injection aims to enhance connectivity through new fiber optics, 4G/5G network rollouts, and upgrades. The move demonstrates investor confidence and supports the continent’s digital inclusion goals, with expected positive impacts on various sectors and economic growth.
Maroc Telecom and Inwi have created joint ventures to accelerate Morocco’s FTTH and 5G expansion, investing $486 million initially. Uni Fiber targets millions of fiber connections, while Uni Tower aims to build thousands of telecom towers, fostering open infrastructure access and national digital growth.
Aria Ventures has launched a $1 million fund to support deep-tech startups by bridging research and market application. The venture studio plans to grow the fund to $4 million over four years while offering hands-on support and infrastructure. Their DeepTecher competition fosters innovation by mentoring and funding promising projects in AI, biotech, robotics, and related sectors.
Morni secured funding from STV’s $100M NICE fund to expand its automotive services ecosystem in Saudi Arabia and the UAE. The investment supports growth in auctions, insurance TPA, garages, and parts recycling, driving tech-enabled mobility transformation aligned with Vision 2030.
Netaj has launched Nawat, Iraq’s first venture capital studio, to accelerate 40 startups through mentorship, product development, and funding. The program’s hybrid investment model supports promising ventures with both in-kind resources and capital, aiming to strengthen Iraq’s startup ecosystem.