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Egypt is set to receive a USD 1.2 billion loan tranche from the IMF, following the approval of its fourth disbursement under an extended support program. The IMF acknowledges Egypt's economic reforms, including reduced inflation and rising foreign reserves, while reaffirming the country's commitment to lifting fuel subsidies by December 2025, supported by favorable global oil prices. Future program reviews are planned to ensure continued progress amidst ongoing economic challenges.
The International Finance Corporation (IFC) is providing a USD 30 million loan to Kazyon Group to support its expansion in Morocco's grocery retail sector. This initiative aims to increase Kazyon's store network and warehousing, creating over 3,000 direct jobs while enhancing food accessibility and safety for low-to-middle-income consumers. Kazyon, established in 2014, operates over 150 stores in Morocco and is committed to providing affordable groceries, particularly in underserved regions.
The International Finance Corporation (IFC) is providing a USD 30 million loan to Kazyon Group to support its expansion in Morocco's grocery retail sector. This initiative aims to increase Kazyon's store network and warehousing, creating over 3,000 direct jobs while enhancing food accessibility for low-to-middle-income consumers. Kazyon, established in 2014, currently operates more than 150 stores in Morocco and is committed to making nutritious food more accessible.
Saudi Arabia's startup ecosystem is thriving, with five startups achieving unicorn status and 35 more on the verge, driven by government initiatives under Vision 2030. Key programs like the Tomooh Program and the Billion-Dollar Companies Incentive Program are facilitating access to funding, mentorship, and international market opportunities, reinforcing the nation's position as a regional innovation hub.
Saudi Arabia's startup ecosystem is thriving, with five startups achieving unicorn status and 35 more on the verge, driven by government initiatives under Vision 2030. Key programs like the Tomooh Program and the Billion-Dollar Companies Incentive Program are facilitating access to funding, mentorship, and international market opportunities, reinforcing the nation's position as a regional innovation hub.
PayTabs Group has acquired a majority stake in PayTabs Egypt, enhancing its position in the fintech sector and supporting Egypt's digital payments transformation. This strategic move aims to boost financial inclusion and streamline operations, aligning with the government's cashless society goals under Vision 2030. Meanwhile, Kuwait's Motery has raised seed funding to expand its online car buying and financing platform, further solidifying its role in the region's automotive market.
PayTabs Group has acquired a majority stake in PayTabs Egypt, enhancing its position in the fintech sector and supporting Egypt's digital payments transformation. This strategic move aims to boost financial inclusion and streamline operations, aligning with the government's cashless society goals under Vision 2030. Meanwhile, Kuwait's Motery has raised seed funding to expand its online car buying and financing platform, further solidifying its role in the region's automotive market.
Fimple, a UK-based fintech firm, has launched its subsidiary, Fimple Egypt Digital Solutions, in Cairo Festival City, aiming to enhance its presence in the region's growing fintech sector. The company plans to collaborate with local banks and fintechs to provide secure banking technologies across the Gulf, Africa, and Europe. Egypt's fintech landscape has expanded significantly, with 177 startups and payment service providers emerging over the past five years, driven by advancements in digital payments and supportive government policies.
Emirates NBD has successfully concluded the third cohort of its National Digital Incubator (NDTI) program, aimed at reinforcing Dubai's status as a global Fintech hub. The program provided Emirati founders with access to industry leaders, mentorship, and opportunities for international networking, including insights from His Excellency Essa Kazim, Governor of DIFC. Participants showcased their innovations and received pivotal feedback from top decision-makers, aligning with the UAE's economic vision and commitment to nurturing homegrown Fintech talent.
Family offices in the Middle East are increasingly venturing into financial services, shifting from traditional wealth preservation to active roles in asset management, private equity, and fintech. This trend, fueled by global market dynamics, aims to enhance investment control and influence in global finance.Prominent players like Jadwa Investment in Saudi Arabia, managing over SAR 70 billion, and EFG Holding in Egypt, which operates across multiple regions, exemplify this evolution. These developments are positioning the Middle East as a growing hub for financial innovation, transforming family wealth management.
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Egypt to receive 1.2 billion loan tranche as fuel subsidy reforms continue
11:33 12.03.2025
ifc supports kazyon's morocco expansion with 30 million dollar loan
United States Dollar
International Finance Corporation Corp.
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EGY
Cheick Oumar Sylla
Hassan Heikal
09:35 12.03.2025
IFC supports Kazyon's expansion in Morocco with 30 million dollar loan
United States Dollar
International Finance Corporation Corp.
EGY
MAR
Hassan Heikal
Cheick Oumar Sylla
09:35 12.03.2025
Saudi Arabia's startup ecosystem thrives with new unicorns and investment initiatives
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Saudi Arabia's startup ecosystem thrives with new unicorns and funding initiatives
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bahrain and saudi arabia strengthen digital economies through startup initiatives and acquisitions
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bahrain and saudi arabia strengthen digital economies through startup initiatives and acquisitions
18:34 11.03.2025
fimple launches egypt subsidiary to enhance fintech collaboration and innovation
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emirates nbd concludes third cohort of national digital incubator program
Microsoft Corporation
Emirates NBD Bank PJSC
Dell Technologies Inc.
Visa Inc.
ARE
EGY
Eman Abdulrazzaq
Maryam Al Ansari
Essa Kazim
Mohammad Alblooshi
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11:11 11.03.2025
middle east family offices embrace financial services for growth and influence
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