Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Ursula von der Leyen, re-elected European Commission president, plans to focus her next term on the Mediterranean, emphasizing digital transformation. The new portfolio will strengthen various sectors through initiatives like the MEDUSA project, enhancing connectivity and fostering economic stability, job creation, and regional cooperation in digital development.
Qatar is leading AI investments in the MENA region with $2.4 billion in incentives, aiming to enhance its AI capabilities and attract global experts. The initiative is part of Qatar’s strategy to build a smart economy, with digital investments projected to reach $5.7 billion by 2026, significantly boosting various sectors.
Egyptian fintech Qardy raised a seven-figure pre-seed round from White Field Ventures, Vastly Valuable Ventures, and angel investors. Founded in 2022, Qardy connects MSMEs with financial institutions. The investment will enhance Qardy’s platform, expand services in the MENA region, and accelerate growth in KSA, emphasizing transparency and customer satisfaction.
Telecom Egypt has signed a multi-year agreement with Mada Communications to be its preferred strategic international SMS service provider. This partnership will leverage Mada®’s expertise to enhance Telecom Egypt’s A2P messaging services, improve customer experience, and maximize messaging revenues through secure and innovative communication solutions.
The MENA Fintech Association has launched its Bahrain Chapter, led by Suzy Al Zeerah of Bahrain FinTech Bay. The chapter aims to foster fintech innovation, collaboration, and growth in Bahrain by promoting cutting-edge technologies, providing resources and mentorship, and facilitating global partnerships to position Bahrain as a leading fintech hub.
Valu, MENA’s leading financial technology company, has partnered with Truecaller to enhance customer safety and business communication. By adopting Truecaller’s Verified Business Caller ID solution, Valu aims to provide secure, verified interactions, fostering trust and efficiency. This collaboration underscores Valu’s commitment to leveraging advanced technology for improved customer experience and financial inclusion.
Cartona, a B2B platform digitizing Egypt’s traditional trade market, raised $8.1 million in a Series A extension. The funds will accelerate growth, expand market share, and support regional expansion. The company’s asset-light model and strong unit economics have driven substantial growth, now serving over 188,000 retailers across 17 Egyptian cities.
e& UAE achieved TM Forum’s Platinum Open API certification, the first in the MENA region to do so for 20 unique APIs. This milestone enhances connectivity, interoperability, and system portability. e& UAE’s Developer Portal offers free access to standardized APIs, fostering innovation. This certification underscores e& UAE’s commitment to digital transformation and technological excellence.
Early adoption of Generative AI (GenAI) is poised to significantly boost productivity and efficiency in the MENA region’s megaprojects, according to a new PMI report. High adopters of GenAI demonstrate enhanced performance, collaboration, and project management, positioning the UAE and GCC countries as leaders in this transformative technology.
Bahrain will host the 6th International Space Forum at Ministerial Level – The Gulf Chapter (ISF 2024), the first in the MENA region, supported by the IAF and ISA. The event will discuss the future of space exploration, highlighting Bahrain’s and the GCC’s advancements in space science and technology.