Author: GAR STAFF
According to a report by Apicorp, energy investments over the next five years are set to grow by 9% to each USD 879 billion as exporters boost spending on the back of higher oil revenues.
According to startup and investment platform Wamda, MENA region startups raised USD 176 million across 42 deals in May.
Egypt’s DXwand has received USD 1 million in new funding to expand its operations across the MENA region.
Trade between Ethiopia and the UAE has surpassed USD 2.5 billion over the past five years, according to the Ethiopian Ministry of Trade and Regional Integration.
The UAE’s Minister of Economy will lead a delegation to Morocco to explore how the two countries can strengthen economic ties.
Oman’s exports have grown by over 50% between 2021 and 2022, according to the Omani government. A 55.9% increase in exports was recorded between January 2021 and 2002, according to the National Centre for Statistics and Information.
Wheat shortages due to the Ukrainian conflict have led to rising costs and concerns over food security.
The CEO of the Egyptian General Authority for Investment and Free Zones met with representatives of the Qatari Businessmen Association to discuss investment opportunities.
Masdar, Abu Dhabi’s sovereign investment company’s green energy producer, and Egypt’s Infinity Energy are set to buy a majority stake in South Africa’s Lekela Power. The deal would involve buying private equity firm Actis’ stake, in a deal valued near USD 1 billion.
Egypt has awarded eight gold and metal mining exploration licenses in the country’s eastern desert region.