Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Econet InfraCo is set to list on the Victoria Falls Stock Exchange at an estimated US$1 billion valuation, potentially marking Zimbabwe’s largest IPO, as Econet Wireless unlocks the value of its telecoms, real estate and power infrastructure to support broader digital and industrial expansion.
CloudKitchens, led by former Uber CEO Travis Kalanick, is preparing for an IPO in the UAE or Saudi Arabia. With a $400 million investment from Saudi Arabia’s Public Investment Fund, the company aims to capitalize on the Middle East’s growing food delivery market, signaling strong investor interest in tech-driven ventures.
Alpha Data’s shares rose nearly 7% on debut after raising $163 million in its IPO. With a market cap of $408 million, the company is positioned for growth in the digital infrastructure sector. It also announced a high dividend yield of 8.7% for 2025, attracting both growth and income investors.
Ninja, a Saudi-based quick commerce firm, is in talks for a funding round at a valuation over $1 billion, with Riyad Capital leading the deal. The company, preparing for an IPO by 2027, operates in multiple Gulf countries and aims to expand further within the region’s growing e-commerce market.
Alpha Data, a UAE tech company, has announced its IPO offering 400 million shares at Dh0.03 each, set to list on ADX in March. With a 5% retail investor allocation, the IPO is expected to raise Dh130 million in dividends. Alpha Data has a strong track record in enterprise systems integration.