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.
The Group 42 fund will operate as a private equity investor and will target high-growth markets.
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.
Abu Dhabi’s non-oil foreign trade grows by 12%, with Saudi Arabia, Switzerland and the US as the emirate’s top trading partners.