Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
AXIAN Telecom has acquired an 8% stake in Jumia Technologies, reaffirming confidence in the e-commerce platform’s fintech and logistics strengths. This strategic move aligns with AXIAN’s mission to promote digital and financial inclusion across Africa. Jumia is focused on core markets and growth verticals under new leadership, signaling a strong turnaround.
Axian Telecom acquires an 8% stake in Jumia, reaffirming support for Africa’s digital economy amid Jumia’s restructuring and market challenges. The move aligns with Axian’s mission to expand inclusive digital services through its Yas and Mixx by Yas brands.
Hub71 and Yas Investments partner to connect UAE family offices with startups via Tech Barza, boosting strategic investments, corporate deals, and mentorship to accelerate growth and innovation in Abu Dhabi’s tech ecosystem.
Egypt’s Investment Minister Hassan El-Khatib meets e& Egypt CEO Hazem Metwally to discuss investment support and future projects. e& Egypt has invested EGP 77 billion since 2006 and plans further expansion in the telecom sector.
ElGameya’s recent seven-figure funding round empowers the fintech to scale its innovative, app-based savings platform targeting underserved Egyptian communities. With nearly one million users and strong growth, the investment supports product development and expansion, advancing financial inclusion and flexible credit solutions across diverse population segments.
MENA’s startup scene thrives in Q2 2025 with major funding and strategic moves in fintech, health, food tech, and SaaS. Saudi Arabia and UAE lead with large rounds and expansions, while emerging markets like Iraq see growing tech innovation.
Nigeria’s telecom sector will see a major quality boost by Q3 2025, driven by a $1 billion equipment investment following tariff adjustments. The upgrade targets expanded 4G/5G coverage, improved broadband, and rural connectivity, combining private investment with government support to ensure nationwide digital inclusion.
Circle, Kuwait’s q-commerce startup, raises $6M Series A to expand across MENA. The company offers under-20-minute delivery via a tech-enabled network of dark stores, driving 7x revenue growth in Kuwait and preparing for regional rollout in 2026.
IFC invests in UAE immersive media startup VUZ during a $12 million funding round to accelerate global expansion in AI-driven live streaming and spatial experiences. The move supports IFC’s digital inclusion goals as VUZ targets Saudi Arabia, Africa, US, and Asia markets.
Thndr raised $15.7 million led by Prosus to expand its digital investment platform across MENA, focusing on the UAE and Saudi Arabia. The Cairo-based fintech leads retail investing in Egypt, onboarding 82% of new EGX investors and growing female participation. The funding supports regional growth and financial inclusion efforts.