What's Hot

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023

    IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

    May 31, 2023

    AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

    May 30, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Dangote refinery set to be commissioned in two weeks

      May 8, 2023

      An Nisa Taxi a Kenyan women-only taxi service to expand to Saudi Arabia

      May 4, 2023

      AD Ports Group invests Dhs955m to bolster its fleet

      May 1, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

      May 31, 2023

      AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

      May 30, 2023

      DP World and Standard Bank to expand trade finance solutions in Africa

      May 30, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Riyadh Valley Company invests in STV’s Total Growth Platform

      Business Finance April 4, 2023
      Recent

      Riyadh Valley Company invests in STV’s Total Growth Platform

      April 4, 2023

      South Africa’s Fin acquires Thuthukani

      March 24, 2023

      Fintech dominates African startup funding

      February 15, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    FDI

    Appetito and Purity sign MoU

    August 16, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Appetito
    Appetito has already acquired quick e-commerce site Lamma and operates in Egypt, Morocco and Tunisia.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Appetito, an Egyptian online grocery service and Purity, a Saudi-based IT infrastructure firm, have signed an MoU to expand the former’s services across the MENA region.

    Appetito is an online grocery ordering service, based out of Egypt. Users in Egypt, Tunisia and Morocco can order delivery via the company’s site and have their groceries delivered to their homes. The service delivers in three Egyptian cities and across Morocco and Tunisia. Appetito delivers a wide range of offerings with products divided into groceries and supermarket, veggies, frozen, detergents, family care, bakeries, snacks and candies. Deliveries can be ordered for immediate delivery or can be scheduled. Payment can be made on delivery by either cash or card.

    Appetito: North African base

    Appetito has more than 500,000 users, achieved 300% growth quarter-on-quarter. The company acquired Tunisia’s Lamma in June, expanding to the Moroccan, Tunisian, and West African markets. Lamma operates a similar e-commerce system to that of Appetito.

    Purity is an IT and IT infrastructure company based out of Saudi Arabia. The company works to improve IT infrastructure efficiency and the operability and efficiency of business applications while ensuring service continuity, and availability. The firm also helps businesses manage and secure infrastructure against security threats.

    Expansion across MENA

    The two firms have signed an MoU and Purity will work to help Appetito expand its services in Saudi Arabia and the entire MENA region. Under the agreement, Purity will be Appetito’s partner in the Saudi market and will provide the necessary financing for the expansion. Appetito aims to bring in USD 25 million of investment to finance and support its expansion.

    Purity CEO Abdullah Al-Namlah will become part of Appetito’s board of directors, “We are very pleased with this partnership with Purity, which is a regional leader in IT and investments,” stated Apetito CEO Shehab Mokhtar. “We aim to massively expand our operations in Saudi Arabia, as well as prospective presence across neighboring markets,” he added.

    Purity Chairperson Faisal Al-Abdulsalam expressed his enthusiasm for the partnership. “We are eager to support startups, as this aligns with Saudi Vision 2030. Appetito has demonstrated its immense potential within a short time period, which demonstrates the competence of its team and their commitment to the vision,” he said.

    Egyptian startups attract investment while MENA slows

    Investment in MENA region startups slowed last month. However, Egypt was the only state in the region to see investment within its startups rise.

    Appetito e-commerce Egypt investment Purity saudi arabia
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleAfriguild strikes investment deal with Adaverse  
    Next Article Tech African Women startup accelerator launches in Ethiopia

    Related Posts

    Business Logistics Logistics

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023
    Business & Trade Startups

    Cargoz secures bridge funding for expansion into KSA

    May 29, 2023
    Business Commodities Metals & minerals

    Copper 360 lists on JSE as Africa’s newest copper producer

    May 26, 2023
    View 1 Comment

    1 Comment

    1. Pingback: Agrifoodtech startups in Africa raise USD 1 billion in 5 years

    Leave A Reply Cancel Reply

    LATEST STORIES

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023

    IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

    May 31, 2023

    AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

    May 30, 2023

    DP World and Standard Bank to expand trade finance solutions in Africa

    May 30, 2023

    Cargoz secures bridge funding for expansion into KSA

    May 29, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.