{
}
Fawry, an Egyptian e-payments platform, has partnered with Kuwait's Ottu to enhance online payment solutions in Egypt. This collaboration integrates Fawry’s network with Ottu’s Online Payment Management System, providing businesses with secure and efficient payment options. The partnership aims to drive innovation and support market expansion beyond the GCC.
PayTabs Group has acquired a majority stake in PayTabs Egypt from EFG Finance, reinforcing its commitment to digital transformation and financial inclusion in the country. This strategic move enhances PayTabs' market leadership and allows for tailored solutions for Egyptian merchants, while supporting the growth of the digital economy and the transition to a cashless society. CEO Abdulaziz Al Jouf emphasized the company's focus on innovation and customer-centricity in this new chapter.
Visa has launched the Tap-to-Add Card in Egypt, allowing users to effortlessly add contactless cards to digital wallets with a simple tap on their mobile devices. This feature enhances security and convenience by eliminating manual data entry and reducing the risk of fraud through a unique one-time code verification.As Egypt advances towards a cashless economy, this innovation is expected to streamline digital payments, benefiting banks and issuers by lowering provisioning fraud and increasing transaction approval rates.
Kuwait-based delivery platform talabat has acquired 100% of Instashop from Delivery Hero SE for $32 million, finalizing the deal in March 2025. Instashop, founded in 2015 and operating in several MENA countries, reported a gross merchandise volume of $631 million in 2024, marking a 16% increase from the previous year. The acquisition will enhance talabat’s grocery and retail offerings while allowing Instashop to maintain its brand independence.
UAE-based Klaim has secured $26 million in Series A funding to enhance its healthcare payment solutions, aiming for rapid expansion in the UAE, Saudi Arabia, and Oman. The funding, led by Mudassir Investment, will help streamline payment processes for healthcare providers, addressing financial strains caused by delayed payment cycles.
European foreign ministers from France, Germany, Italy, and the UK have expressed support for Egypt's $53 billion Gaza reconstruction plan, which includes a temporary committee of Palestinian technocrats to manage aid and coordinate with the Palestinian Authority. The initiative aims to improve living conditions in Gaza while ensuring that Hamas does not govern the area or pose a threat to Israel. However, the plan faces opposition from Israel and the US, with ongoing violence reported in Gaza.
Mrkoon is enhancing industrial supply chains and promoting the circular economy, positioning itself for growth in sustainable waste management across the MENA region following a recent funding round. Meanwhile, Saudi-based Ninja Express is in talks to secure over $1 billion in funding, aiming for an IPO by 2027, while UAE's Klaim has raised $26 million to expand healthcare payment solutions, enhancing efficiency for providers in the region. Additionally, Qatar has launched a Startup Business Development Grant to support early-stage startups, fostering innovation and economic diversification aligned with its Vision 2030 goals.
Egypt's Purchasing Managers' Index (PMI) has exceeded 50 points for the second month in a row, indicating a positive economic outlook, as reported by Prime Minister Mostafa Madbouly. This follows an USD 8.7 billion increase in Net Foreign Assets (NFA) recorded by the Central Bank of Egypt in January 2025, contrasting sharply with a USD 29 billion deficit from the previous year. Total NFA has now risen to approximately USD 37 billion, with January's gains representing 60% of this increase, while foreign exchange reserves have reached USD 47.4 billion.
An emergency Arab summit in Cairo adopted a five-year, $53 billion Egyptian plan for Gaza's reconstruction, emphasizing a two-state solution and rejecting U.S. proposals to displace Palestinians. The plan includes rebuilding infrastructure, housing, and establishing a nonpartisan governance body, while facing challenges from U.S. and Israeli opposition regarding Hamas's role. An international conference in April aims to secure funding and support for the initiative, testing Arab nations' ability to rally international backing amidst ongoing tensions.
Finnovex North Africa 2025 will take place on April 23 in Cairo, uniting over 200 financial leaders to discuss the future of finance through digital transformation and sustainable innovation. Key topics include digital banking, cybersecurity, and cross-border fintech regulation, with opportunities for networking and collaboration among industry visionaries. Attendees will gain insights into how emerging technologies are reshaping financial services across the region.
EGY
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Fawry and Ottu partner to enhance online payment solutions in Egypt
07:53 10.03.2025
PayTabs acquires majority stake in PayTabs Egypt to enhance digital payments
03:12 10.03.2025
visa introduces tap to add card for digital wallets in egypt
01:00 10.03.2025
talabat acquires instashop for 32 million enhancing grocery services in MENA
06:00 09.03.2025
klaim enhances healthcare payments with new funding and regional expansion
13:39 08.03.2025
European nations endorse Egypt's 53 billion dollar Gaza reconstruction initiative
13:00 08.03.2025
Mrkoon secures funding to expand waste management solutions in GCC region
06:45 08.03.2025
Egypt's Purchasing Managers Index indicates economic growth amid rising foreign assets
01:00 08.03.2025
arab summit adopts egyptian plan for gaza reconstruction amid political challenges
United States Dollar
EGY
USA
JOR
Donald Trump
Steve Witkoff
Abdel Latif El Menawy
Abdel Fattah El-Sisi
Marco Rubio
Benjamin Netanyahu
Show more
19:41 07.03.2025
finnovex north africa 2025 explores digital transformation and sustainable finance innovation
12:16 07.03.2025
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Global Trade Developments
Global Financial Events
Central Bank Actions
Banking Regulations
Retail and Consumer Goods
Startups & Entrepreneurship
Finance Mergers & Acquisitions
Government Economic Policies
Inflation and Monetary Impact
Industry Mergers & Acquisitions
CEO Changes
Domestic Politics
Market Analysis and Predictions
Government Policies
Workplace Trends
GDP Growth & Recession Forecasts
Supply Chain Management
Countries:
Companies:
Tesla, Inc.
Apple Inc.
Barclays PLC
JPMorgan Chase & Co.
Deutsche Bank Money Market PP
Credit Suisse Strategic Income I
The Goldman Sachs Group, Inc.
SpaceXCoin USD
Berkshire Hathaway Inc.
Bank of America Corporation
UBS Group AG
BNP Paribas SA
Banco Santander, S.A.
Lloyds Banking Group plc
Bank Frick AG
Morgan Stanley
NVIDIA Corporation
Jenoptik AG
Air France-KLM
Citigroup Inc.
Currencies:
United States Dollar
Euro
Japanese Yen
Swiss Franc
British Pound Sterling
Indian Rupee
Chinese Yuan
South Korean Won
Canadian Dollar
Vietnamese Đồng
Australian Dollar
Thai Baht
Indonesian Rupiah
Singapore Dollar
Mexican Peso
Hong Kong Dollar
Offshore Chinese Yuan
New Zealand Dollar
Cambodian Riel
Myanmar Kyat
People: