A weekly round up of the top headlines from the digital sector in MENA, covering startups, corporate and the public sector.
Investments & Acquisitions
Teacherly, UAE-based edtech platform, raises funding from Shorooq Partners http://bit.ly/2kD8BNF
UPayments, Kuwait-based epayment provider, raises seed funding from Angel Investors http://bit.ly/2kGzDnm
Wahed Invest (Wahed), raises a “multi-million dollar investment” from Dubai Cultiv8 Investments Limited, a subsidiary of the Mohammed Bin Rashid Fund for SME (an integrated division of the Department of Economic Development) http://bit.ly/2lX2Muy
Investcorp, Bahrain, to acquire Italy-HQ ticketing platform Vivaticket which has more than “2,100 clients across 50 countries including Walt Disney World, Musee du Louvre and FC Barcelona” http://bit.ly/2m07jww
Etisalat, UAE, to acquire full ownership of cybersecurity firm Help AG’s businesses in the UAE & Saudi http://bit.ly/2mmKsLz
Sector News
Swvl expands into two new cities in Pakistan and launches engineering office in Karachi http://bit.ly/2kgQTiC
Halan, Egyptian tuk-tuk startup, to expand to Ethiopia https://reut.rs/2ksDJzh
Dubizzle, UAE-based Olx subsidiary, launches a new portal for listing off-line projects in the UAE http://bit.ly/2m0OusK
Ipsos shares stats on Subscription video on demand (SVoD) in Saudi Arabia for 2018 http://bit.ly/2lWFHs4
Fintech
DIFC FinTech Hive’s 2019 Accelerator Program accepts 31 Startups for their upcoming cycle. DIFC provides support for three month but no direct equity based investment http://bit.ly/2kJPgKA
National Bank of Fujairah (NBF) joins trade finance blockchain network Marco Polo, which has 22 members including Mastercard, BNP Paribas, ING & Standard Chartered http://bit.ly/2mfD3xF
Abu Dhabi Commercial Bank (ADCB) launches blockchain-based trade finance http://bit.ly/2kMjywj
EmiratesNBD, UAE, to launch audio banking capabilities through Amazon Alexa http://bit.ly/2lTdkuH
Further Reading (Policy & Economy)
Egypt to start work on $2.4B telecom network for first phase of a new capital city https://reut.rs/2mfDqZ5
University of Bahrain (UOB) announced the launch of a new cloud computing degree program in collaboration with AWS Educate Cloud Degree initiative http://bit.ly/2lV9elW
Egypt Cabinet approves Ride-Hailing Apps Act, which will require companies and drivers to pay, registration, licensing, taxes and social insurance http://bit.ly/2kTdFNU Official Gazette (AR) http://bit.ly/2lZxDXp
Central Banks of UAE and Saudi lower interest rates after US Fed cut http://bit.ly/2mqvdBz
Rand Merchant Bank, South Africa, 2020 investment report says Egypt is still the most attractive country to invest in in Africa, followed by Morocco, then South Africa http://bit.ly/2mhUsFQ (full report will be available in Jan 2020 for non-RMB clients)
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