Author: GAR STAFF

African tech investment is dominated by Nigeria, Egypt, Kenya and South Africa, according to a report by Disrupt Africa.

AfricInvest Maghreb Private Equity Fund IV, administered by AfricInvest, a leading African investment platform, has invested USD 30 million in a Pre-Series B funding round in ArabyAds, a leading MENA region AdTech firm.

Non-oil trade is up by 17% over H2 2021 as the government works to sign international agreements and partnerships.

The Group 42 fund will operate as a private equity investor and will target high-growth markets.

DP World, Dubai’s major operator of ports and terminals, announced revenue growth of 60.4% in H1 2022, recording revenues of USD 7.93 billion.

Egyptian fintech firm Lucky has signed a partnership agreement with Egyptian on-demand warehousing and fulfillment platform, Khazenly. Lucky is a digital rewards app, users of which enter a points reward system to obtain discounts on purchases from over 20,000 local and international brands.

Tech African Women (TAW) is a joint initiative by the United Nations Economic Commission for Africa (ECA), in partnership with tech venture firm Betacube. TAW seeks to support female-led idea stage startups from Ethiopia, Senegal, Tanzania and Tunisia.

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.

Afriguild aims to provide opportunities across Africa through gaming, education and community building.

Abu Dhabi’s non-oil foreign trade grows by 12%, with Saudi Arabia, Switzerland and the US as the emirate’s top trading partners.