Browsing: Business

Saudi Arabia’s sovereign wealth fund, The Public Investment Fund (PIF) has launched the Saudi-Egyptian Investment Company (SEIC) in order to place investments across a wide range of sectors of the Egyptian economy, from infrastructure and real estate to pharmaceuticals.

MENA startups raised USD 105 million in July, the lowest monthly amount recorded so far this year, according to regional startup investor and development platform Wamda.

Dubai Chambers welcomed 10 decision makers from Ethiopia’s private and public sectors to discuss closer cooperation between the two countries. The delegates aimed to explore Dubai’s advances in digital services, to discuss the creation of business partnerships and to sign agreements in support of the Digital Ethiopia 2025 Strategy.

Saudi Arabia has announced the launch of The Saudi Investment Promotion Authority (Sipa). The Saudi Ministry of Investment said that Sipa was created as part of a directive issued by King Salman and Crown Prince Mohammed bin Salman.

AD Ports and Hong Kong operator and port investor Hutchison Ports will work together to expand operations across the GCC, Asia and Africa.

Foreign direct investment (FDI) in Egypt grew by 183% in Q1 2022, according to the Central Bank of Egypt (CBE). Q1 saw inflows of USD 4.1 billion, compared to USD 1.4 billion over the same period last year.

Imperial, a transportation, logistics and supply firm owned by DP World, Dubai’s multinational logistics company, has increased its stake in Botswana’s PST Sales & Distribution (PST) from 38% to 72%.

Backed by local and international capital, Cartona seeks to “turbo charge” expansion.

The Nilepreneurs Initiative for Entrepreneurship, an Egyptian startup support program, has announced the launch of four new courses for business incubators to support startups.

The Nigerian United Bank for Africa Group opens a branch at DIFC to attract business from across the Middle East.