Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Raseedi has acquired Kashat, owner of Pharos Microfinance S.A.E., to expand its product offerings by introducing instant loans for Egypt’s underbanked population. This acquisition enhances Raseedi’s daily fintech app and leverages its credit scoring algorithm to offer quick, digital loans to small business owners, driving financial inclusion.
Thunes has integrated PayPal’s Hyperwallet into its Direct Global Network, enabling real-time fund transfers to over 450 million mobile wallets and bank accounts across six APAC countries. This partnership enhances Hyperwallet’s ability to support cross-border payments through Thunes’ extensive network and payment capabilities.
The Saudi Central Bank (SAMA) has granted HyperPay a license to offer digital payment services via an electronic wallet in Saudi Arabia. This move supports the Kingdom’s Vision 2030 by promoting cashless transactions and digital transformation in the financial sector, contributing to financial inclusion and innovation.
The Nclude Fund, with over $105 million in capital, has invested $24.5 million into 8 fintech startups, boosting Egypt’s fintech sector. Managed by Development Partners International (DPI), the fund aims to encourage foreign investment and position Egypt as the MENA region’s fintech innovation hub.
PayMint, an Egyptian fintech, has received approval from the Central Bank of Egypt to launch its Meeza prepaid card in collaboration with ADIB-Egypt. The card will allow users to make everyday transactions, with additional features available through PayMint’s mobile app, promoting financial inclusion and supporting Egypt’s paperless society vision.
Talaty, a Moroccan fintech company, has secured investment from Witamax and Renew Capital to enhance financial inclusion for SMEs in Morocco and Francophone Africa. The AI-driven platform helps reduce costs and defaults, offering faster credit decisions, and aims to support SMBs with essential financial services across the region.
Sahm App has achieved a major milestone, reaching over one million users in its first year. The all-in-one platform provides seamless access to the Saudi and U.S. markets, offering real-time data, personalized features, and educational resources. To celebrate, Sahm Capital launched the “1 Million Cash Giveaway” campaign.
MNT-Halan, Egypt’s leading fintech company, has entered the UAE market with its innovative Halan Advance salary financing solution. This marks the company’s expansion across the region, bringing financial inclusion, cash flow management, and economic empowerment to underserved communities. MNT-Halan aims to reach 250,000 customers by 2025.
HRH Prince Salman of Bahrain met Crypto.com President Eric Anziani to discuss advancing the kingdom’s financial services and digital sectors. The meeting focused on Bahrain’s commitment to attracting international companies and fostering investment in fintech. Anziani also presented Bahrain with Crypto.com’s new Mastercard prototype, the first in the Middle East.
Key Giveaways: Dubai, UAE – Zand Bank, a digital challenger bank based in Dubai, has announced a strategic partnership with Alibaba…