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Abu Dhabi's investment in Binance enhances its compliance and global operations, positioning it as a leading cryptocurrency exchange. Meanwhile, Tunisian LegalTech startup Juridoc.tn secures funding to expand across 17 African countries, aiming to revolutionize legal services with AI-driven solutions. Additionally, Tern Rewards launches the UAE's first digital rental payment platform, allowing tenants to pay rent via credit card while earning rewards.
EFG Holding Group is set to list its subsidiary, U Consumer Finance (Valu), on the Egyptian Exchange, distributing 20.488% of U’s shares to its shareholders. This move follows the approval of a fintech license from the FRA, aiming to enhance financial inclusion and provide a seamless digital experience. Valu's fair value is estimated at EGP 15.586 billion, with trading expected to commence after necessary registration and disclosure procedures.
NymCard, a Dubai-based embedded finance platform, has raised $33 million in a Series B funding round led by QED Investors, marking its largest investment in MENA. The funds will enhance NymCard's payment infrastructure across banks, fintech firms, and telecom providers in the region. With its proprietary nCore platform, NymCard aims to support financial innovation and contribute to the cashless economy initiatives in Saudi Arabia and the UAE, while fostering fintech growth in Egypt.
Cairo-based Grinta, a fintech-enabled B2B platform modernizing the pharmaceutical supply chain, has secured additional funding and acquired Citi Clinic, enhancing its entry into the healthcare sector. This strategic move allows Grinta to integrate online and offline services, reaching over 150,000 patients. Co-founder and CEO Mohamed Azab emphasized the significance of this acquisition in transforming healthcare access and delivery.
Fawry has partnered with Contact Financial Holding to enhance Buy Now, Pay Later (BNPL) services in Egypt, integrating them into Fawry's extensive payment network. This collaboration aims to improve financial inclusion and support the transition to a cashless economy by offering flexible and secure payment options. The partnership also encompasses electronic payment solutions and bill collection, reinforcing the digital payments infrastructure in the country.
Contact Financial Holding has expanded its Buy Now, Pay Later (BNPL) service in Egypt through a partnership with Fawry, enhancing payment flexibility for customers across Fawry’s extensive network of over 370,000 points of sale and online platforms. This collaboration also includes e-payment gateway integration and bill payment aggregation, supporting Egypt's digital transformation and financial inclusion efforts. Both companies emphasize their commitment to providing accessible financial solutions and promoting secure electronic payments.
Egypt’s Ministry of Trade and Industry has launched a mobile app named ‘دعم المستثمرين’ (Investor Support) to streamline investor complaints and inquiries, currently available for Android users with an iOS version forthcoming. The app allows users to register, submit complaints, track their status, and receive official follow-ups, enhancing communication between businesses and government. This initiative is part of a broader effort to improve digital infrastructure and attract more investment by reducing bureaucratic delays.
Egypt's President Abdel Fattah El-Sisi reported that the Suez Canal is facing monthly revenue losses of approximately $800 million due to regional tensions, particularly attacks by Yemen's Houthis on vessels in the Red Sea. These disruptions have forced ships to reroute around Africa, significantly increasing shipping costs and contributing to an estimated $7 billion loss in 2024. The Houthis have threatened to escalate attacks on US and Israeli vessels if certain conditions are not met regarding aid to Gaza.
TBS Holding has partnered with Shahia Investments to establish a modern bakery plant in Saudi Arabia, aiming to enhance market share and meet the rising demand for high-quality baked goods. The project, set to begin in 2026, will leverage advanced technologies to improve production efficiency and support economic growth in both countries. This collaboration is expected to facilitate foreign currency flow into Egypt and strengthen the local market's capabilities.
Egyptian pharma-tech startup Grinta is expanding into primary healthcare through its acquisition of Citi Clinic, a chain that serves over 150,000 patients. This strategic shift from B2B distribution to direct patient care is supported by funding from Beltone Venture Capital and Raed Ventures. Grinta also plans to establish a pharmacy chain in Tanzania and develop export partnerships with Egyptian pharmaceutical manufacturers.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
NymCard and Juridoc secure funding to enhance embedded finance and legal services
16:16 19.03.2025
efg holding group initiates listing of valu on egyptian stock exchange
11:04 19.03.2025
nymcard secures 33 million series b funding to enhance fintech in mena
10:35 19.03.2025
Grinta secures funding and acquires Citi Clinic to expand healthcare services
10:00 19.03.2025
Fawry and Contact Financial Launch Partnership to Enhance BNPL Services in Egypt
09:56 19.03.2025
Contact and Fawry expand buy now pay later services in Egypt
07:10 19.03.2025
Egypt launches mobile app to enhance investor complaint management and communication
01:00 19.03.2025
suez canal revenue losses reach 800 million amid regional tensions
13:25 18.03.2025
TBS Holding and Shahia Investments partner to launch bakery plant in Saudi Arabia
13:20 18.03.2025
grinta expands into primary care with acquisition of citi clinic
13:00 18.03.2025
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