Technology News and insights in the Middle East, South Asia, and Africa
Over 2,800 Chinese companies have invested more than $8 billion in Egypt, boosting sectors from automotive to textiles. High-level meetings between Egyptian and Guangdong officials highlight growing cooperation, upcoming investment forums, and projects including a $300 million car plant and a dedicated textile city, strengthening the China-Egypt strategic partnership.
Nigeria’s growing vulnerability to digital threats worsened in 2024, with a rise in attacks targeting government and financial sectors. Despite efforts by agencies like NITDA and NCC, localized cybersecurity strategies remain underdeveloped. Experts stress the need for proactive measures, risk analysis, and stronger collaboration to enhance digital resilience in 2025.
X, formerly known as Twitter, is preparing to launch its payments service, X Money, with Visa as its first partner. The service will support secure, instant funding of X Wallets and enable peer-to-peer payments. This move aligns with X’s goal to become an “everything app.”
King Abdulaziz University awarded Naseej for Technology a SAR 16.18 million contract for academic system upgrades and support. Additionally, the company secured a SAR 17.24 million deal with the Ministry of Commerce. Despite a slight revenue increase, Naseej reported a 39.55% drop in net profit for 2023.
Cloudflare’s latest report reveals that 78% of Middle East and Türkiye business leaders expect a cybersecurity incident within the next year, but only 46% feel well-prepared. Rising incidents and financial losses demand strategic cybersecurity investments, with web attacks, malware, and phishing among the top threats faced by businesses.
Khazna, an Egyptian fintech startup, has raised $16 million in pre-Series B funding, bringing its total funding to over $63 million. The company provides financial services like salary advances and microloans to low-income workers. It plans to expand into Saudi Arabia and apply for a digital banking license in Egypt.
Ooredoo has launched SDN Connect, a high-speed private connectivity solution offering speeds up to 100Gbps, aimed at meeting the needs of businesses in Qatar. This innovative service includes features like robust SLAs, software-defined control, and enhanced security measures, supporting digital transformation and scalable infrastructure for organizations.
Zension Technologies has raised $30 million in Series A funding, led by Wa’ed Ventures and Sumitomo Corporation. The investment will support Zaam, a subscription-based model for tech devices, offering flexibility and sustainability by promoting a circular economy. Zension aims to reduce e-waste while providing affordable tech upgrades to consumers.
Egypt has achieved the highest landline internet speeds in Africa and ranks second continentally, fifth globally, for affordable high-speed internet at $8.31 monthly. These advancements, reported by Speedtest and Business Insider, are due to infrastructure upgrades by the Ministry of Communications and the Egyptian Telecom Company using fiber optic technology.
Nepal’s smartphone imports have decreased in volume but increased in value, with 1.1 million units imported in the past six months, valued at Rs. 16.71 billion. This shift reflects growing consumer interest in higher-end smartphones, such as the Samsung S24, as users upgrade to more advanced models with AI support.