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The MENA startup ecosystem is gaining momentum in Q1 2025, highlighted by significant funding and strategic acquisitions across various sectors. Nayla Finance raised $4 million to enhance SME lending in Saudi Arabia, while Epik Foods acquired Sauce Capital for $15 million, creating a major F&B operator. Additionally, NKN Media secured $9.5 million for global expansion, and EHC Investment fully acquired Al-Fanar Gas Group, strengthening its position in the UAE energy sector.
Iran's President Masoud Pezeshkian has rejected direct negotiations with the U.S. regarding its nuclear program, responding to a letter from President Trump. While indirect talks remain a possibility, tensions have escalated following the U.S. withdrawal from the nuclear deal and ongoing military actions in the region. Iran's leadership emphasizes the need for confidence-building measures, as threats of military action loom amid fears of a nuclear confrontation.
The MENA startup ecosystem is gaining momentum in Q1 2025, highlighted by significant funding and acquisitions across various sectors. Nayla Finance raised $4 million to enhance SME lending in Saudi Arabia, while Epik Foods acquired Sauce Capital for $15 million, creating a major F&B operator. NKN Media secured $9.5 million for global expansion, and EHC Investment fully acquired Al-Fanar Gas Group, strengthening its position in the UAE energy sector.
The MENA startup ecosystem is gaining momentum in Q1 2025, highlighted by significant funding and acquisitions across various sectors. Nayla Finance raised $4 million to enhance SME lending in Saudi Arabia, while Epik Foods acquired Sauce Capital for $15 million, creating a major F&B operator. Additionally, NKN Media secured $9.5 million for global expansion, and EHC Investment fully acquired Al-Fanar Gas Group, strengthening its position in the UAE energy sector.
Oman has granted Starlink Muscat a Class 1 license to provide nationwide satellite internet, expanding its services in the Middle East. The low-Earth orbit satellites will deliver high-speed broadband, reaching remote areas and supporting key sectors like oil, gas, and tourism. Starlink plans to launch in Kuwait, Bahrain, and Jordan in 2025, while services in Saudi Arabia and the UAE await regulatory approval.
The Central Bank of Oman will implement the International Bank Account Number (IBAN) for domestic transactions starting 1st July 2025, aiming to enhance transaction efficiency and security. Following the successful introduction of IBAN for international transfers in March 2024, the CBO will require all incoming international transactions to include an IBAN, discontinuing those that do not. Local banks are tasked with educating customers on the benefits of IBAN to ensure a smoother banking experience.
Oman is set to increase the minimum national wage from OMR325 to between OMR360 and OMR400, pending a review by the Council of Ministers. The Minister emphasized that this adjustment is based on economic factors, including average monthly wages and inflation, rather than a desire to cut wages.
UAE-based fintech startup Klaim has raised $26 million to enhance healthcare payment processes, including $10 million in Series A equity and $16 million in debt financing. Founded in 2019, Klaim's AI-driven platform aims to resolve delayed insurance claim payments, allowing providers to receive funds within 24 hours. With this funding, the company plans to expand in the MENA region, particularly in Saudi Arabia and Oman, while strengthening partnerships across the healthcare sector.
Agthia Group PJSC has announced a leadership transition, appointing Salmeen Al Ameri as Managing Director and CEO effective June 2, 2025, succeeding Alan Smith, who will remain as an advisor. Under Smith's leadership, Agthia expanded its business segments and more than doubled its revenue from AED 2.1 billion in 2020 to AED 4.9 billion in 2024. Al Ameri, who has been Vice Chairman since 2020, aims to accelerate growth and drive digital transformation as the company pursues its ambitious 2030 strategy.
GCC banks are poised for strong performance in 2025, driven by robust capital strength, economic diversification, and significant project pipelines. With GDP growth projected at 3.5% and improved credit conditions following US monetary easing, the sector is set to benefit from rising credit growth and stable margins. Key markets like Saudi Arabia and the UAE are experiencing strong loan growth and deposit inflows, while Qatar's banks remain well-capitalized to support expansion.
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mena startup sector gains momentum with significant funding and acquisitions
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mena startup sector gains momentum with strategic acquisitions and funding rounds
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mena startup sector gains momentum with strategic acquisitions and funding rounds
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UAE fintech startup klaim secures 26 million dollars to enhance healthcare payments
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GCC banks poised for growth in 2025 amid economic reforms and projects
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