Egypt’s Minister of Communications met with the French Ambassador to discuss attracting greater French investment in Egypt’s ICT sector, focusing on AI and digital outsourcing. The meeting also included plans for Egypt’s participation in the upcoming AI Summit and a French business forum, highlighting the country’s growing digital capabilities.
Nigeria’s FMCIDE and WIOCC Group have formed a strategic partnership to boost Nigeria’s digital economy through investments in digital infrastructure and stakeholder engagement. The partnership focuses on improving broadband access, last-mile connectivity, and job creation, with WIOCC deploying advanced fibre and colocation facilities across the country.
AWS has announced an $8.3 billion investment to expand its cloud infrastructure in the AWS Asia-Pacific (Mumbai) Region, as part of a broader $12.7 billion commitment to India by 2030. This investment aims to boost India’s GDP and create over 81,000 jobs in various sectors by 2030.
Ebana, a Saudi fintech startup, raised $2.66 million in a Pre-Series A funding round led by Esnad Legal Consulting. The funding will support the expansion of its investor relations tools and digital governance solutions, helping businesses adopt modern, transparent, and efficient governance practices across Saudi Arabia.
The Public Investment Fund (PIF) and Elm have signed an agreement for Elm to acquire Thiqah Business Services for $907 million. The acquisition will strengthen the Saudi ICT sector, support Vision 2030’s digital transformation goals, and enhance the development of advanced national smart services and technologies.
Saudi Arabia’s Public Investment Fund (PIF) has sold Thiqah Business Services to Elm for 3.4 billion Saudi riyals ($907 million). This sale is part of PIF’s strategy to strengthen reserves and focus on local investments in anticipation of Saudi Arabia’s economic transformation under the Vision 2030 plan.
Arcapita, in partnership with Parkway Venture Capital, is investing in a high-growth AI portfolio focused on robotics, quantum computing, and generative AI. The portfolio includes Figure AI and SandboxAQ, aiming to provide exposure to early-stage businesses shaping the future of AI technology, a market expected to grow significantly by 2030.
SeamlessHR, a Nigerian HR tech company, has raised $9 million in a Series-A extension round from the Gates Foundation and Helios Digital Ventures. The funds will support the company’s expansion across Africa and potential acquisitions. This brings the total funding raised by SeamlessHR to about $25 million.
Sequence Ventures plans to launch a $50 million “Africa Deep Tech” fund by 2026, focusing on emerging technologies in sectors like healthcare, agriculture, and climate. They aim to close their EGP 500 million “SV Deep Tech Investment” fund by Q1 this year, targeting 20 deals over two years.
Power International Holding has acquired a 100% stake in Mobile Telecom-Service (MTS) from Kazakhtelecom, enhancing its position in Kazakhstan’s growing telecom sector. The acquisition includes prominent brands Altel and Tele2, reinforcing MTS’s role in providing 5G connectivity and digital services in the country.
