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Egypt's ICT Ministry is set to train 30,000 AI specialists as part of its National AI Strategy (2025-2030), which aims to enhance the country's AI ecosystem through infrastructure, talent development, and regulatory frameworks. The recent "Shaping Egypt AI Horizon" forum, organized by ITIDA and 500 Global, brought together industry professionals to discuss collaboration and address skill shortages in AI. Key objectives include enabling 26% of the workforce to utilize AI tools and increasing AI adoption by 36% among citizens.
The Arab African International Bank plans to open a branch in Saudi Arabia, aiming to support the growing influx of Egyptian investments in the Kingdom. With regulatory approval from Egypt secured, the bank is seeking permission from Saudi authorities to cater to the financing needs of large-scale projects, which have attracted significant Egyptian investors. Currently, there are 6,830 Egyptian companies operating in Saudi Arabia, with investments totaling USD 18.7 billion.
InstaPay will implement transaction fees starting April 1, 2025, charging 0.1% per transfer, with a minimum of 50 piasters and a maximum of 20 EGP. Users can check their balance or request mini statements for free up to ten times monthly, after which additional inquiries will cost 50 piasters each. This change follows the app's growth to 12 million users by the end of 2024 and aims to enhance its digital infrastructure in line with Egypt’s digital transformation vision.
Presight has launched an AI Startup Accelerator in the UAE, offering up to $200,000 in support to AI-driven startups, with applications open until April 10, 2025. The six-month program provides market access, mentorship, and financial resources to help startups scale their innovations across 15 countries.Meanwhile, UAE-based fintech enza has raised $6.75 million to enhance Africa's digital payments landscape, focusing on financial inclusion through its cloud-native technology. Additionally, Yango Group has introduced a $20 million venture fund, Yango Ventures, aimed at empowering early-stage startups in emerging markets, including MENA, by providing capital and strategic support.
Coherent Market Insights, headquartered in India with offices in the U.S., UK, and Japan, provides reliable market reports across various sectors in over 57 countries. Their research on the Cell Therapy Manufacturing Market includes insights on market dynamics, competitive analysis, and growth potential, aiding clients in informed decision-making and strategic planning. The report highlights key trends, driving factors, and profiles of major players, ensuring clients stay updated on industry developments.
The Egyptian Arab Land Bank is set to sell its 16 branches in Jordan, having received approval from both the Central Bank of Jordan and the Central Bank of Egypt. The decision, driven by regulatory requirements, necessitates a capital increase of 20 million Jordanian dinars to meet compliance standards. Currently, the bank is evaluating its assets and has received five preliminary acquisition offers from local banks.
HSBC chair Sir Mark Tucker stated that "globalisation as we knew it may have now run its course," citing trade and geopolitical tensions that could reshape economic ties among regional groups and trade blocs. He emphasized that while the world won't regress into de-globalisation, new opportunities will arise, particularly among the expanding Brics group, which now includes additional countries like Iran and the UAE. Tucker noted that economic connectivity between Asia and the Middle East is expected to increase significantly in the coming years.
Egyptian payment solutions startup enza has secured $6.75 million in seed funding to enhance financial inclusion across Africa. Co-led by Algebra Ventures and Quona Capital, the investment will help enza expand its payment solutions for banks and fintechs, fostering deeper partnerships and addressing local needs.CEO Hany Fekry expressed enthusiasm for the partnership, highlighting the potential to transform financial services through digitized payments. The funding marks a significant step in enza's mission to empower businesses and drive growth in the continent's payments ecosystem.
UAE-based fintech enza has raised $6.75 million in seed funding to enhance Africa's digital payments landscape, focusing on financial inclusion through its cloud-native technology. With operations in Egypt, Nigeria, and South Africa, enza aims to expand its reach and innovate payment solutions for local markets.Meanwhile, Yango Group has launched a $20 million venture fund, Yango Ventures, to support early-stage startups in emerging markets, including MENA and Africa. The fund seeks to empower entrepreneurs with resources and mentorship to drive community transformation and economic growth.
Paysky, a leading digital fintech solutions provider, has secured $6.75 million to enhance Africa's fintech infrastructure. Recognized among Forbes Middle East’s Top 50 Fintech Companies for the third consecutive year, the company operates in 18 countries and processed over $3.9 billion in transactions in 2024. Its innovative offerings include national payment systems, the Yalla Super App, and various digital payment solutions aimed at driving financial inclusion and digital transformation across the region.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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