Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Saudi Arabia launches a $100 billion fund, Humain, to invest in AI, semiconductors, and data centres, partnering with U.S. technology companies. Aimed at building sovereign AI and advancing Vision 2030, the move positions the Kingdom ahead in the Gulf’s economic diversification. The plan also highlights geopolitical tech alliances and workforce development challenges.
LoftyInc Capital Management has secured $43 million for its LoftyInc Alpha Fund to support emerging tech startups across Africa, focusing on key markets such as Nigeria, Egypt, and Kenya. The fund will invest in health tech, deep tech, and AI sectors, with at least 30% allocated to East and North Africa.
Orange Egypt’s $52.7 million investment is driving a youth-focused tech revolution, funding over 40 startups, mostly from Egypt. This investment comes alongside the second phase of 5G licensing. With Egypt’s startup scene thriving, the country aims to solidify its position as Africa’s top entrepreneurial hub.
Pakistan’s ICT sector has grown 25%, with a government target of $25 billion in exports. Minister Shaza Fatima Khawaja highlighted the country’s advancements in cybersecurity, e-governance, and digital talent development at the Pak-US Tech Investment Conference. The government is committed to fostering a thriving digital ecosystem for innovation and growth.
Shift, a Jeddah-based mobility company, has secured an $83 million investment from Merak Capital to enhance its mobility services across Saudi Arabia. This funding aims to expand and improve technology in sectors such as tourism and transportation.
Saudi Arabia plans to expand data center capacity to 64MW, with an investment between SAR 1.95 billion and SAR 2.5 billion, through a partnership between MIS and BSF Capital. This initiative supports the kingdom’s goal to boost its tech sector.