Browsing: Finance
Africa’s emerging markets are seeing increasing levels of investment, as investors seek out unique firms and engaging products and the continent exhibits huge potential.
MENA region startups have raised USD 1.8 billion in investment in the first half of 2022, according to a report by MAGNITT, fintech leads the way.
PaySky, a digital payment solutions provider based in Egypt, will launch a series of services in the UAE. Supported by Visa, the fintech firm will offer its Yalla Card and Super App in the UAE.
Abu Dhabi Exports Office opens a USD 20 million line of credit to the ECOWAS Bank for Investment and Development to bolster trade and strategic cooperation.
The ITFC has begun dispersing a USD 3 billion credit extension to Egypt to address the rising costs of food and energy imports.
According to startup and investment platform Wamda, MENA region startups raised USD 176 million across 42 deals in May.
The Saudi Arabia-based International Islamic Trade Finance Corporation (IFTC) has raised Egypt’s credit rating to USD 6 billion to address rising costs of wheat.
Timbuktoo, the headquarters of the United Nations Development Programme’s (UNDP) new innovation financing hub will be based in Kigali, Rwanda.
Startups saw record levels of VC investments, according to reports by CB Insights, a leading technology insights firm, which reported global investments of USD 621 billion last year.
Startups from across the MENA region raised USD 297 million through 29 deals in April of this year.