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MENA’s Digital News, Week #38

A weekly round up of the top headlines from the digital sector in MENA, covering startups, corporate and the public sector.

First order of business: Farah Nakouzi has joined me to launch the Arabic “MENA’s Digital News” Channels on Telegram and Whatsapp!

Some changes will come to the weekly roundup soon, but I appreciate your patience 🙌🏻

Now let’s get to it, it’s been a long week!

Investments & Acquisitions

BSynchro, Beirut based insurtech, raises $1M from Berytech & Phoenician Fund http://bit.ly/2Fug6NQ 

Hopi, D2C contact lenses startups, raises seed funding from Esanjo (the latest venture of Jadopado’s Founder) – undisclosed amount http://bit.ly/2KxFXZk

Foodics, Saudi POS tech, raises $4M from Riyadh Taqnia Fund (RTF), Fatih Capital, Tech Invest Com and Naseel Holding http://bit.ly/2XJsQuF (AR) http://bit.ly/2KJDIT7 

Breadfast, Cairo-based baked goods and breakfast delivery startup, raises series A, led by 500 Startups & Egyptian angel investor, and gets accepted to YC combinator http://bit.ly/2KCM8M1

Sprii, eCommerce platform for mothers, raises $8.5M in funding from undisclosed investors http://bit.ly/2RwK6NO 

Noon Academy, Saudi EdTech startup, raises $8.6M co-led by Raed Ventures and Saudi Technology Ventures (STV) http://bit.ly/2KHWRVt (AR) http://bit.ly/2KH7UOu 

Elmenus, Egypt-based food delivery and discovery platform, is raising a series B with commitments currently secured from angel investors http://bit.ly/2NcMaw8

Beyond Capital, Jordan, announces investment in 5 startups under their Scout Program: Bilforon, 360Moms, Addenda, Silkroad Audio http://bit.ly/31VHaiP 

Sector News

Noon.com, re-announces free delivery on all orders. The first announcement was done last week, but was later withdrawn across channels http://bit.ly/2IVmnTB 

Tencent Games to open offices in Dubai’s Internet City http://bit.ly/2Jav1xK 

Oman’s Information Technology Authority (ITA) initiated a new accelerator in the sultanate: Sas Accelerator, powered by Google Developers Launchpad program. First cohort announced. http://bit.ly/2LcNSek

UAE Ministry of Economy approves Careem‘s acquisition by Uber http://bit.ly/2FwNJPn

Toters, Lebanon-based food delivery app, expands to Riyadh (announced via email only) 

Seedstars launched its second MENA hub in Morocco, with commitments to invest in startups through Investment Readiness Program and the Seedstars World. The first was in Cairo http://bit.ly/2Xckvjl 

Fintech

Souqalmal.com, Dubai-based insurtech startup, to expand services to Bahrain http://bit.ly/31TcwGA 

MENA Fintech Association (MFTA) was launched yesterday in collaboration with Abu Dhabi Global Market (ADGM) and the Arab Monetary Fund http://bit.ly/2WZrQhn 
Link to the MENA Fintech Association website http://bit.ly/2IDBsu8

DEX (Digital Assets Exchange) has secured in principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate a Crypto Asset Exchange http://bit.ly/2Yagqcb (this is the second digital asset platform getting initial approval this month) 

Central Bank of Egypt‘s old building in Cairo to be turned into a Fintech Campus. Announcement was made by Greek Campus and Sawari Ventures founder, Ahmed Alfi http://bit.ly/2J4TNQ1

A Public Sector Overhaul in the UAE

UAE’s Knowledge and Human Development Authority (KHDA)’s & Dubai 10X have collaborated on a new initiative: Rahhal, providing “innovative learning pathways blending traditional education with industry qualifications”. Under this initiative GEMS schools and Siemens sign an MoU signed a collaboration to build more integration between schools and industry http://bit.ly/2RvMcOa (to note: GEMS school just expanded it’s investments in Saudi last month)

UAE’s Telecommunications Regulatory Authority, TRA, launches the ‘UAE National Cybersecurity Strategy’ http://bit.ly/2Xxg3Lw The strategy’s page and full length reading here http://bit.ly/2Xa8OtP (AR) http://bit.ly/2RB4rBN

Ghadan 21, Abu Dhabi, announces: – New ~$1.2B R&D Fund – Energy consumption discounts to enterprises – “open data” access to gov’t collected data – shorter payment cycles for gov’t contractors, 30 days – increased number of services that can be applied for online http://bit.ly/2xdRrJ0

Further Readings

Tech/Digital

Snapchat study hows that users of the platform in Saudi Arabia and the UAE are the two most dominant markets in using snapchat as a messaging platform http://bit.ly/2FyBTnD 

Byblos Bank, Lebanon, launches a new Data Center, “the only Uptime Institute Tier III certified constructed facility” http://bit.ly/2WZPiej

IBM is launching two new centers in Cairo: Industry Client Center and Marketing Services Center http://bit.ly/31Pk51f

Non Tech/ Digital (Economic)

PSA Group, French Peugeot Citroen manufacturer, launches factory in Morocco http://bit.ly/2KtwGBT 

Tunisia Secures $131.7M Fund from French Development Agency to Develop Its Smart Grid Project http://bit.ly/2KvwFgE

Saudi Arabia now accepting online applications for the permanent residency program http://bit.ly/2IB2Gl4

Saudi Arabian General Investment Authority (SAGIA) announces 15 MOUs and agreements with South Korean investors, around Artificial Intelligence for Healthcare, Solar Energy Sector among others http://bit.ly/322huBh

Long Read

United Nations Conference on Trade and Development (UNCTAD) report on Economic Development in Africa 2019 http://bit.ly/2X8Kkw9


To get your daily dose subscribe to MENA’s Digital News telegram channel here: https://t.me/technologyinmena

MENA's Digital News on Telegram

Or you on whatsapp (admin posting only) right here


MENA’s Digital News, Week #37

A weekly round up of the top headlines from the digital sector in MENA, covering startups, corporate and the public sector.

Investments (Local and Global)

Eksab, Cairo’s Daily Fantasy Sports (DFS) platform, announced a “six-figure seed investment” from 500 Startups http://bit.ly/2FdZ4DP 

Urent, P2P care rental platform, raised undisclosed funding from Seed Group, The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, and will launch in Dubai this month. The startup has acquired RTA approval http://bit.ly/2XhEVH6 

Averos, Saudi tracking startup, Pre-Series A funding round from Saudi Aramco’s Wa’ed Ventures (amount undisclosed) http://bit.ly/2ZsKTlO 

Zbooni, Dubai social commerce startup, raises $1.1M led by the Chalhoub Group and B&Y Venture Partners http://bit.ly/2WSdfsU

Swvl, Egypt’s mass transit startup, raises $42M from Vostok, BECO Capital, MSA and Endeavor Catalyst https://bloom.bg/2WVzwRE

Venturesouq joins $6M series A round, lead by Impulse VC, into GuestReady, UK based platform for real estate management http://bit.ly/2KrVt95

Arzooo, Indian retail tech startup, raises $1M in pre-series A lead by Jabbar Internet Group http://bit.ly/31D12a4 

Gympass, Brazilian fitness classes subscription service, raises $300M from Softbank Vision Fund and SoftBank Latin America Fund https://prn.to/2FoCtVd

Collective Health, US, raises $105M in funding led by SoftBank Vision Fund http://bit.ly/2FsM5OL

1 Acquisition

Mubawab, Morocco’s real-estate portal, acquire’s Jumia House operations in Morocco, Tunisia & Algeria (Mubawab owned by Dubai’s EPMG) http://bit.ly/2ZvA82b 

Sector News

World Bank grants $175M (two loans) to Tunisia, $100M for “digital transformation inside the Tunisian administration” and $75M “projects of emerging projects and SMEs” http://bit.ly/2MUNGCP

All mention of this article + posts suddenly disappeared, but we’re keeping it here for reference that they tried. > > Noon launches free delivery starting today across the UAE with no minimum spend (this is on the heels of Amazon launching Prime in the UAE last week) http://bit.ly/2IVmnTB

Microsoft to launch two new data centers in the UAE http://bit.ly/2XmyCBX

Long Reads

Report: Artificial Intelligence in Saudi Arabia, Report by Microsoft and EY (AR) http://bit.ly/2KrDobp

Further Readings

Etisalat to invest ~$1.2B for network upgrades in 2019 http://bit.ly/2x4oE9P

Emirates Investment Authority (sovereign) bought $630M stake into Du Holding (Telecom) from Mamoura Diversified Global Holding (previously Mubadala Development Co) and General Investments. The Emirates Investment Authority held 39.9% of Du, while Mamoura owned 19.92% https://bloom.bg/2FdDora 

Moroccan Govt looks to sell a further 8% of its shares in Maroc Telecom, cutting down its ownership from 30% to 22%. The sales comes as part of increased privatization move. (AR) http://bit.ly/31BD3s0

DAAL Investments, Saudi, signs MoU with Azerbijan’s Ministry of Transport, Communications and High Technologies http://bit.ly/2wUvCOj


To get your daily dose subscribe to MENA’s Digital News telegram channel here: https://t.me/technologyinmena

MENA's Digital News on Telegram

Or you on whatsapp (admin posting only) right here


MENA’s Digital News, Week #33

A weekly round up of the top headlines from the digital sector in MENA, covering startups, corporate and the public sector.

Investments & Acquisitions

Resal, Saudi gifting ecommerce, raises $800k Pre-Series A (EN) http://bit.ly/2WQdH6T (AR) http://bit.ly/2w20lIZ 

InstaDeep, Tunisian enterprise AI startup, raises $7M in Series A from AfricInvest and Endeavor Catalyst http://bit.ly/2DZJTxe 

Wadi.com, Saudi grocery delivery, gets acquired by Majid Al Futtaim (MAF). MAF had invested in Wadi in late October, after-which it pivoted to focus completely on grocery delivery from general eCommerce http://bit.ly/2Hmwd1h

Heetch, French ride-hailing startup with presence in Morocco, raises $38M from from Cathay Innovation, Idinvest Partners, Innov’Allianz, Total Ventures, Alven and Felix Capital, and plans expansion to Algeria and some other markets http://bit.ly/2HhmeJr

Gofers, Indian online grocery startup, raises $200M led by SoftBank Vision Fund http://bit.ly/2JkY8ku

Sector News

12 startup accelerators and incubators from across MENA announce a partnership to support their portfolio companies with knowledge sharing, soft-landing and resources http://bit.ly/2WNPfD7

COFE, Kuwait’s coffee delivery app, signs exclusive “partnership” with Deliveroo in Kuwait and UAE http://bit.ly/2W0pHFF 

BitOasis is granted “preliminary license… to operate a digital asset wallet and a trading platform” by the Financial Services Regulatory Authority https://bloom.bg/2HePx0l 

Careem Bus expands to Saudi, launches an inter-city bus service between Jeddah and Makkah http://bit.ly/2JCXEpe

The National Bank of Bahrain (NBB) launches open banking protocols, becoming the first regional bank to allow any third parties to provide utilize their banking data http://bit.ly/2Q5U7AZ

Abu Dhabi announces enhanced “Guidance for the Regulation of Crypto Asset Activities” http://bit.ly/2VpiWZG

Further Readings

Jordan established Ministry of Digital Economy and Entrepreneurship (AR) http://bit.ly/30aEi0y

APCO Worldwide, global PR agency, opens Bahrain office http://bit.ly/2DZUZCv 

Dubai “plans” unified free-zone license http://bit.ly/2LFrlJ4 

UAE “plans to set up” expat retirement funds led by DIFC for employees working within its financial free zone. No final agreement has been reached, but the discussions are ongoing http://bit.ly/2Q1ETgp

The Human Race is On!

One of the biggest shortages in the world today is talent. Good talent can genuinely make or break a company, or even a country.

Governments today are faced with a two-prongs nurture local talent, attract international talent. I think all governments need both, and urgently. Local talent is irreplaceable, but expats that are willing to leave the comfort of their home country and bring in fresh perspectives, methodologies and experiences are just as important for innovation and economic growth.

Which is what we’re seeing today among GCC countries. Almost every week a new announcement on long term visas, retirement vehicles, and increasing the ease-of-doing-business. If talent sees a country as a great way to make money and leave, then they’ll do just that. Then leave to invest their lives somewhere else that’ll provide them with stability and nurture.

As the world shifts to an the increasingly competitive grab for global talent (and the global and regional refugee crisis) it may be worthwhile to remember human progression does not have to be a zero sum game.


To get your daily dose subscribe to MENA’s Digital News telegram channel here: https://t.me/technologyinmena

MENA's Digital News on Telegram

Or you on whatsapp (admin posting only) right here