EdfaPay is pleased to announce the obtaining of a technical license as a Mobile Point-of-Sale (Soft-POS) technology provider from the Saudi Central Bank (SAMA). This milestone aligns with EdfaPay’s continuous efforts to enhance digital innovation in the payments sector and provide advanced and secure technological solutions that meet the needs of businesses, enterprises, and freelancers in Saudi Arabia. The Soft-POS technology, which operates using the TMS II system, enables smart devices to transform into efficient point-of-sale terminals. This supports digital transformation and expands the scope of cashless payments with ease and security. Eng. Ghurmallah Abdulaziz Al-Ghamdi, CEO and Co-Founder of…
Author: Mohamed Fathy
myLAHLOOB, myGINNE’s newest service that launched on 12th of December 2024, delivers groceries in only 9 minutes in El Rehab City and soon will be available many other places across Egypt. The service empowers the local retailers and delivery boys, guaranteeing their daily sustenance. myLAHLOOB solved the hard equation by offering the fastest grocery delivery to consumers and setting up new benchmark in quick commerce (Q-Com). myLAHLOOB creates a phenomenon in the grocery delivery sector in Egypt. It introduces a single digit delivery time that almost no one has ever experienced before. Leveraging advanced technology and extensive research, myGINNE’s tech…
Paymob, the leading financial services enabler in the Middle East and North Africa (MENA), announces its expansive merchant network will be able to accept Apple Pay in Egypt, enabling consumers to use their Apple devices to seamlessly and securely make purchases in-store, in-app and online. The milestone marks a significant transformation in the country’s digital payments landscape, following the recent launch of Apple Pay in Egypt. Paymob’s integration of Apple Pay allows merchants across Egypt to provide their customers with an easy, secure and private payment experience. To pay in store, customers simply double-click the side button and hold their…
OSN Group has acquired 55.45% in Anghami, giving it a majority stake at a valuation of $3.69 per share, 1.9x the closing price of the stock on Thursday 28th of March. This deal will result in a company with over 120 million registered users, circa 2.5 million paid subscribers and close to $100 million in revenue at closing. The combined entity brings together OSN+’s premium and exclusive library of 18,000 hours of video content with Anghami’s rich catalog of more than 100 million songs and podcasts. Moreover, it will benefit from Anghami’s strong tech stack, delivering an enhanced streaming experience…
MNT-Halan, Egypt’s leading fintech company and first unicorn, has entered the UAE market, marking a key milestone in its rapid expansion across the region. With its financial super app, MNT-Halan will deliver innovative and accessible financial solutions to underserved communities and businesses. The company’s first offering in the UAE is Halan Advance, a fast, secure, and user-friendly salary financing solution, with additional services from its ecosystem set to follow. financial landscape MNT-Halan’s entry into the UAE underscores its commitment to reshaping the financial landscape. With its cutting-edge technology, deep understanding of underbanked markets, and compliance with CBUAE regulations, MNT-Halan is…
Under the Patronage of Sheikha Salama Bint Tahnoon bin Mohammed Al Nahyan and in the presence of Sheikh Tahnoon bin Khalifa bin Mohammed Al Nahyan, Abu Dhabi is hosting the third edition of the annual Forbes Middle East Under 30 Summit for the first time, which kicked off today at Umm Al Emarat Park. This remarkable gathering unites global leaders, entrepreneurs, and changemakers for thought-provoking panels, impactful discussions, and collaborative innovation. Celebrating leadership, creativity, and vision, the summit highlights pioneering ideas and achievements driving the future. The first day welcomed distinguished attendees, including H.E. Mohamed Bin Taliah, Chief of Government…
Hudhudshop, the leading e-commerce platform headquartered in Qatar, proudly announces its successful acquisition of a six-figure Dollar in a pre-seed funding round. Specializing in the distribution of premium Turkish products throughout the Gulf region and beyond, including Qatar, Saudi Arabia, Kuwait, Bahrain, Oman, the UAE, and Jordan, Hudhudshop has quickly become synonymous with quality and diversity. Boasting a vast inventory of over 50,000 products and an impressive track record of +13,000 sales within just 10 months, Hudhudshop has solidified its position as a key player in the e-commerce landscape. The platform offers a range of essential services, such as “Q…
NymCard, the leading payments infrastructure provider in the MENA region, announced a strategic partnership with eNovate, a subsidiary of eFinance Investment Group and Egypt’s leading card manufacturing and personalization services provider. This partnership aims to complement NymCard’s comprehensive payment solutions by integrating eNovate’s advanced card production and personalization capabilities. The partnership is considered a step forward towards NymCard comprehensive financial solutions offered to our clients, covering card issuance and processing, alongside card production and personalization services. This integrated approach streamlines the payment card lifecycle for NymCard partners across the region. “Our collaboration with eNovate creates a one-stop solution that addresses…
Roboost, a leading provider of AI-powered delivery management solutions, today announced a strategic partnership with Flash, a cutting-edge fintech company specializing in secure and efficient payment technologies. This collaboration will integrate Flash’s cashless payment solution into the Roboost rider app, enabling customers to pay for their deliveries with a simple scan of a QR code. cash-on-delivery This partnership addresses a significant challenge for businesses that handle a high volume of cash-on-delivery transactions. Traditionally, equipping drivers with POS machines has been a costly and cumbersome solution, often leading to logistical and security concerns. The Roboost-Flash integration eliminates the need for physical…
Nowlun, the leading digital freight forwarding platform in the Middle East and North Africa (MENA), today announced it has raised $1.7 million in seed funding. The round was led by Nama Ventures and A15, with participation from Sanabil 500 Global and prominent angel investors. expansion This investment will fuel Nowlun’s ambitious expansion plans and accelerate the development of its innovative technology platform, which is transforming the logistics industry by offering instant, transparent, and competitive ocean freight rates, streamlined shipment management, and real-time visibility into cargo movements. logistics market Since its launch in 2021 by Moataz Khamis (CEO), Mahmoud Khaled (CTO),…
Banknbox is excited to announce its strategic alliance with MineSec to offer advanced SoftPOS technology to banks and financial institutions. By integrating MineSec’s SDK certified PCI CPOC/MPOC technology, into Banknbox’s platform, the collaboration will empower the partners with a complete digital acquiring solution, providing secure and efficient payment processing for financial institutions and their customers. digital capabilities Banknbox is expanding its digital capabilities, empowering banks and fintechs to provide a more flexible and cost-effective way for their merchants to accept payments, As exclusive partner in Egypt for MineSec cutting-edge technology, This integration will serve a broad range of financial institutions…
Watercycle Technologies is pleased to announce the closure of a $5.6 million Series A investment round led by Par Equity as part of a syndicate with Greater Manchester Combined Authority (‘GMCA’), Aer Ventures and the University of Manchester Innovation Factory. This investment will enable Watercycle to rapidly scale up and commercially deploy its technology to deliver sustainable, low-cost, high-yield mineral recovery systems. Watercycle’s mineral recovery systems Watercycle’s mineral recovery systems have received international traction from government bodies and businesses on every continent, targeting brine mining and battery recycling applications. The goal of the Company’s proprietary technology is twofold: mitigating the…
In its meeting today, the Central Bank of Egypt’s Monetary Policy Committee (MPC) decided to keep the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 27.25 percent, 28.25 percent, and 27.75 percent, respectively. The Committee also kept the discount rate unchanged at 27.75 percent. The decision reflects recent developments and outlook at the global and domestic levels since the previous MPC meeting. Globally, monetary policy tightening cycles in advanced and emerging market economies have contributed to a decline in inflation worldwide, with select central banks gradually cutting their policy rates, albeit maintaining…
Amenli, a leading insurtech broker licensed by the Financial Regulatory Authority in Egypt (FRA), has secured a new funding round of $2.3 million aimed at accelerating its growth and enhancing its service offerings. The investment was led by the European Bank for Reconstruction and Development Venture Capital arm (EBRD) and includes a follow-on investment from Y Combinator (YC), underscoring a strong vote of confidence in Amenli’s innovative approach to disrupting insurance distribution in emerging markets. boost growth The funds will be strategically allocated to boost growth through evolving technological capabilities and solutions, diversify distribution channels, heavily invest in product development…
Pemo has announced a $7 million Pre-Series A Funding round as it seeks to continue its unprecedented growth in the region. spend management platform Following two years of remarkable success in the UAE, the leading Dubai-based spend management platform has secured this funding in the wake of achieving a milestone moment of reaching AED 1.4bn in annualised transactions. Testament to its core focus on offering exceptional customer service, the start-up is set to use the investment to drive further innovation in its product, and continue delivering an exceptional experience and value for its customers. expansion Furthermore, Pemo is eying expansion…
Khazna is proud to announce a strategic partnership with CorporateStack, aimed at transforming its operational management and improving efficiency through the deployment of CorporateStack’s industry-leading Enterprise Resource Planning (ERP) solutions. This partnership marks a significant step in Khazna’s continuous drive to support its growth and optimize operations. ERP solutions Under the terms of this partnership, CorporateStack will deliver an integrated suite of customized ERP solutions designed to streamline processes and meet Khazna’s comprehensive accounting and operational needs swiftly and accurately. This collaboration underscores Khazna’s commitment to evolving its product offerings and refining its operational capabilities. CorporateStack is recognized as a…
H.E. Dr. Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation, and Chairperson of the Ministerial Group for Entrepreneurship, held a consultative meeting that included representatives from venture capital funds, law and consultancy firms, the startup community, entrepreneurship support sectors, and relevant national entities. The meeting aimed to review the group’s work roadmap, introduce the technical working groups that were formed, and discuss the key proposals and challenges needed for sector growth, to be presented at the second meeting of the ministerial group. This initiative supports the government’s efforts to create a conducive environment for startups and promote…
Infinix, the innovative, youth-oriented brand, has announced the launch of its new Infinix HOT 50 series in the Egyptian market. This announcement came during a grand event held at one of Cairo’s hotels, attended by the company’s leaders in Egypt and a selected group of journalists, media representatives, and technology specialists, reflecting Infinix’s commitment to introducing its latest innovations to the Egyptian market. Sustained Investments Under the “Made in Egypt” Slogan During the press conference that accompanied the launch event, Infinix reaffirmed its commitment to significant investments in manufacturing smartphones locally under the “Made in Egypt” slogan. This strategy aims…
Teradix, a leading provider of innovative eProcurement solutions in MENA, announced that it has been awarded a $140,000 grant from the prestigious TAQADAM Accelerator program at King Abdullah University of Science and Technology (KAUST) to revolutionize procurement processes in the Saudi market. Teradix’s strategic The funds secured from the TAQADAM Accelerator program will be pivotal in supporting Teradix’s strategic expansion into Saudi Arabia. With a focus on enhancing its eProcurement solutions, Teradix aims to drive growth, streamline procurement processes, and deliver unparalleled value to clients in the region. intuitive procurement solutions Teradix offers a comprehensive suite of intuitive procurement solutions…
T-Vencubator, a pioneering entity offering venture building, venture capital, and incubation services, today has announced Tafweela as its inaugural venture building project. Tafweela is set to revolutionize the vehicle payments ecosystem in Egypt through its innovative end-to-end payment solution. This strategic move underscores T-Vencubator’s commitment to fostering disruptive startups that drive digital transformation across key sectors. A New Era of Digitized Vehicle Payments Tafweela, founded in 2023 by visionary entrepreneur Marwan El Shayeb, is a newly introduced technology built to digitize vehicles and turn them to payment methods. By introducing a tap-and-go system, Tafweela empowers organizations to streamline operations, eliminate…