IT-Telecom News
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Egyptian financial services provider MNT-Halan valued at $1B in $400M funding
The round includes $260 million in equity financing and $140 million through two securitized bond issuances secured within the past year.
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Egypt ranks 3rd in venture debt funding in MENA
Egypt received a total of $88 million in debt funding from 2018 to 2022, and accounted for more than 27% of total deals in the region.
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Vodafone Egypt deal bumps up S.Africa's Vodacom quarterly revenue
Vodafone Egypt was consolidated from Dec. 8, contributing over 1.8 billion rand to group service revenue.
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Uber announces new rates in Egypt
The increases in Uber services also included the Uber X Saver Service, so that the cost of the start of the trip became nine LE instead of LE7.80.
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Tabby raises $58M at $660M valuation as PayPal Ventures
This marks its first investment in the Gulf Cooperation Council (GCC) but second in the MENA region after Egyptian fintech Paymob.
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$52mln increase in sales of firms benefiting from incubation, export support programmes since 2019
The initiative’s harvest report for the year 2022, that the initiative provided more than 2,000 job opportunities.
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Egypt ranks 4th in African VC market
The list of the top VC destinations includes Nigeria, South Africa, Egypt and Kenya respectively. The four account for 70% of African VC market.
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Jumia’s investors rethink their stakes — for better and worse
Baillie Gifford disclosed ownership of 18.75 million shares in Jumia, representing 9.39% of the company.
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State moves forward toward approach to build Digital Egypt
The state focuses on accelerating its strategic path towards the digital transformation strategy.
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Wafeq raises $3mln seed round led by Raed Ventures
Aims to accelerate North Africa entry and GCC expansion.
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X-ERA, Paymob join forces to offer digital B2B payments tool in Egypt
Paymob’s gateway will process various methods of payments, including credit card, digital wallet and others on the X-ERA app.
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EFinance signs partnership MoU with F5 to help protect and optimise Egypt’s digital transformation priorities
Cloud- and cybersecurity-focused partnership set to benefit organisations across Egypt and improve citizens’ lives.
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Vodacom lands 2Africa, the world's largest subsea cable, in EC
The subsea cable project aims to significantly increase the capacity, quality, and availability of internet connectivity between Africa and the world.
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Facebook leads social media platforms in Egypt, followed by Instagram and TikTok
In a report published by the Egyptian Cabinet's Information and Decision Support Centre (IDSC), 95.9% of survey respondents use Facebook.
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Egyptian Commercial Service, CIT discuss promoting software exports in Africa
Egypt’s digital exports grew during the year 2021/2022 to reach $4.9bn, compared to $4.5bn in 2020/2021.
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Mindsalike hosts networking event for Egypt's startup ecosystem
Mindsalike, emerging as the definitive networking platform for entrepreneurs and investors, hosted its 19th edition in Cairo.
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Egypt’s parliament discusses banning TikTok
A lawsuit previously filed in Egypt claimed that TikTok promotes clips of nudity, pornography, bullying, and violence in society.
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Technology start-up Bekia recycles waste in Cairo
The start-up recently obtained $100,000 from the American venture capital company Catalyst Fund.
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Obeikan Digital Solutions launches development centre in Egypt
The group’s decision to expand in the Egyptian market aims to achieve a real addition to the Egyptian technological scene.
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Introducing NOMU, MENA’S leading food-tech supply chain platform
NOMU has officially launched operations across the region, set to reinvent groceries for families and homegrown F&B professionals.