Egypt has seen a remarkable 181% increase in financial inclusion over the past eight years, with 71.5% of eligible citizens gaining access to banking services. Key initiatives, including targeted events and programs for underserved groups, have contributed to this growth, fostering economic development and access to financial services across the nation.
Robi Axiata and Banglalink have signed an MoU to explore network sharing, aiming to improve 4G access across Bangladesh. This collaboration seeks to enhance cost efficiency, service quality, and environmental sustainability, with support from regulatory bodies and the government’s ‘Smart Bangladesh’ vision.
Beyon Solutions is nearing the acquisition of a controlling stake in Link Development, a regional software solutions provider. Announced at the Gateway Gulf Investor Forum 2024, the deal awaits final administrative conditions. This acquisition aims to enhance Beyon’s digital transformation capabilities across Egypt, Saudi Arabia, and the UAE.
The 74th ICT Governance Committee meeting in Bahrain, chaired by Mohammed Ali Al Qaed, reviewed significant digital initiatives, including a virtual court project, an EV charger payment app, and an animal registration system. Bahrain also celebrated its ranking of 18th in the UN’s eGovernment Development report 2024.
Space42 has partnered with FADA to enhance the UAE’s Earth observation capabilities with a contract valued at AED378 million. This collaboration will leverage data from Space42’s SAR satellites, advancing data-driven decision-making, situational awareness, and geospatial analytics. The initiative strengthens the UAE’s sovereign space and technology capabilities.
Bahrain’s telecommunications sector showed strong growth in Q1 2024, with a 13.8% increase in mobile subscribers and a 10.2% rise in data consumption. Mobile and broadband sectors thrived, while fixed telephony saw a slight decline. The steady progress in fibre broadband infrastructure indicates a promising future for the sector.
Robi Axiata has appointed M Riyaaz Rasheed as acting CEO, effective February 1, 2025, following Rajeev Sethi’s transition to a new role within Axiata Group. Rasheed, the current CFO, had previously served as acting CEO before Sethi’s appointment in 2022. Robi is the second-largest mobile operator in Bangladesh.
FOO, a leading B2B SaaS provider, has partnered with eNovate to enhance Egypt’s digital payment solutions. This collaboration will leverage FOO’s modular platform and Fintech as a Service (FaaS) solutions to empower fintechs and accelerate digital transformation. Key projects, including a university digital solution, are already underway.
Bahrain is set to host the Fintech Revolution Summit in 2025, aiming to advance the country towards a cashless society as part of Bahrain Vision 2030. Over 500 BFSI and fintech professionals will explore trends and investment opportunities in financial technology.
Salesforce has announced a $500 million investment in Saudi Arabia, focusing on AI adoption, workforce development, and expanding its regional presence. The investment includes bringing Hyperforce and Agentforce to the Kingdom, upskilling 30,000 citizens in AI, and partnering with Princess Nourah University to empower women in the digital economy.
