Morocco’s z.systems raised $1 million in funding to reshape the region’s FMCG retail landscape. The platform, designed to modernize B2B trade and distribution, offers streamlined solutions for small retailers. z.systems plans to expand beyond FMCG into other sectors like construction and electronics, empowering mom-and-pop stores with better efficiency.
With the newly formed strategic alliance, KoçSistem and SBM will create synergies to complement their strong existing capabilities and service offering for customers in the MENA region.
A Boston Consulting Group report reveals that 85% of GCC senior executives prioritize innovation, surpassing the global average. However, GCC firms face challenges in converting ambition into readiness. Key recommendations include aligning innovation with business strategy and leveraging Generative AI. Addressing talent constraints and funding challenges will enhance innovation readiness.
The RAK Digital Assets Oasis (RAK DAO) Conference 2024 highlighted the importance of technological innovation in establishing Ras Al Khaimah as a global blockchain hub. The event unveiled the DAO Association Regime (DARe) to support decentralized organizations and featured discussions on the future of digital assets and regulatory frameworks.
Saudi Arabia’s Ministry of Communications and Information Technology has launched the “Digital Future Readiness Programme” in collaboration with the Human Capacity Development Programme. This initiative aims to enhance AI skills among over 7,000 professionals, promoting innovation and preparing nationals for the global AI industry.
Cartona, a B2B platform digitizing Egypt’s traditional trade market, raised $8.1 million in a Series A extension. The funds will accelerate growth, expand market share, and support regional expansion. The company’s asset-light model and strong unit economics have driven substantial growth, now serving over 188,000 retailers across 17 Egyptian cities.
Oman experienced a 3.10% increase in mobile phone subscriptions, reaching over 7 million by April 2024. Average usage per mobile subscription rose by 4.19%, while mobile broadband subscriptions and average usage declined. Fixed-line and fixed broadband subscriptions saw modest increases, though average usage decreased.
Bangladesh will install a fourth underwater cable by 2028 and a fifth by 2033 to meet growing bandwidth needs. Internet users have surged to 12.9 million, with internet density at 75.12%. Reduced internet costs have boosted IT sector employment and web-based business opportunities.
STC Group, through its subsidiaries STC Bahrain and Center3, has invested $300 million to construct a new data center park and inaugurate the 2Africa Pearl subsea cable in Bahrain. These initiatives aim to expand STC’s global footprint, supporting Bahrain’s 2030 Economic Vision with enhanced digital infrastructure and sustainability goals.
Hassan Allam Construction and Thales have formed a strategic partnership to promote Thales’s Smart Digital Platform (SDP) in the MENA region. The collaboration aims to integrate advanced security technologies and provide innovative solutions for creating safer, smarter, and more sustainable communities across the region.
