Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
The International Finance Corporation (IFC) has committed to supporting Pakistan’s growth in sectors such as green energy, telecom, and digitization. The announcement came during a meeting between IFC’s Makhtar Diop and Pakistan’s Finance Minister Muhammad Aurangzeb, where discussions focused on economic reforms and private-sector growth.
The Global Cybersecurity Forum (GCF) and the World Economic Forum (WEF) have launched the Centre for Cyber Economics (CCE) in Riyadh to address the economic challenges and opportunities of cybersecurity. The Centre aims to enhance global resilience, foster collaboration, and develop models to improve cybersecurity investment and growth.
The Algerian Stock Exchange experienced historic growth in 2024, with market capitalization reaching 518 billion dinars. The anticipated listing of telecom giant Djezzy in 2025 is expected to further boost the exchange’s profile. Ongoing modernization efforts aim to attract more investors and enhance market accessibility for SMEs.
Jordan’s ICT sector continues to thrive with the ongoing royal support, bolstering economic growth and digital transformation. The sector’s expansion is driving job creation, entrepreneurial innovation, and positioning Jordan as a regional hub for ICT services, aligning with the nation’s Economic Modernization Vision.
Jordan has introduced a Blockchain Technology Policy for 2025, focusing on enhancing transparency, improving public services, and stimulating economic growth. The policy aims to streamline government functions, improve service efficiency, and support blockchain innovation, positioning Jordan as a leader in digital technologies and attracting international investment.
Egypt’s engineering exports reached a historic $5.1 billion in the first eleven months of 2024, marking a 21.6% increase from 2023. This growth highlights the sector’s significance in Egypt’s economy, driven by industries such as automotive components, cables, and home appliances. Major export destinations include Europe, the Middle East, and Africa.
Google’s AI Opportunity Initiative in MENA aims to enhance AI skills and accessibility, backed by a $15 million investment through 2027. The initiative targets education, healthcare, and digital literacy, with a focus on underserved communities, predicting a $320 billion boost to the region’s economy by 2030.
SandboxAQ plans to leverage large quantitative AI models (LQMs) to enhance the UAE’s economic capabilities in sectors like biotechnology, finance, and energy. The company emphasizes the potential for LQMs to create intellectual property, improve patient outcomes, and support the UAE’s digital transformation goals.
Morocco has launched its Digital 2030 strategy, aiming to transform the economy and society by creating 240,000 digital jobs and generating 100 billion dirhams ($10.36 billion) for GDP. The plan includes launching 3,000 startups and expanding 5G coverage, emphasizing the importance of digital infrastructure and innovation.
The Overseas Investors Chamber of Commerce has reaffirmed its commitment to developing Pakistan’s IT and telecom sectors at the Tech Festival ITCN Asia. The event emphasized collaboration among government, private sector, and academic institutions, with forecasts suggesting IT exports may grow from $10 billion to $18 billion by 2028.