What's Hot

    Paymob and Khazenly enter partnership

    February 1, 2023

    Free trade: Qatar and Morocco conclude second round of talks

    January 31, 2023

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      Hyosung Heavy Industries to start construction on South African energy storage project

      December 12, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Free trade: Qatar and Morocco conclude second round of talks

      January 31, 2023

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Social investment platform InvestSky raises USD 3.4 million

      Business Entrepreneurship Finance January 12, 2023
      Recent

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023

      African startups face challenges in 2023

      January 10, 2023

      MENA startups raised USD 125 million in December

      January 6, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business

    NOMU: New company formed through merger of Jumlaty and Appetito

    December 15, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    NOMU
    NOMU has the potential to serve 25 million people and 100,000 F&B outlets.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Saudi’s Jumlaty and Egypt’s Appetito, two eGrocery startups, have merged to create a new company, NOMU. NOMU is present in four countries.

    NOMU aims to become the leading foodtech supply chain platform in the MENA region. Through the merger, the new firm is active in Saudi Arabia, Egypt, Tunisia and Morocco and, according to the company, has the potential to serve 25 million people and 100,000 F&B outlets. NOMU has strategic partnerships with firms including Savola, Almarai and Nestle.

    NOMU: Targeting USD 25 million in revenue

    “Appetito and Jumlaty have been, separately but similarly, working hard to reinvent the grocery supply chain. Both have focused on reliability, speed, and affordability, building a solid reputation and a loyal customer base of families and F&B businesses. Our merger will set us on the path to reach SAR 100 Million in revenue (USD 25 million) and positive EBITDA within 2023, with important synergies on the tech, marketing and procurement fronts,” said Shehab Mokhtar, CEO of Appetito, now CEO of NOMU.

    Salman Attieh, CEO of Jumlaty, now Chairman of NOMU, said, “Both companies shared the same vision on how to transform the industry, combining smart tech, lean operations with a deep focus on unit economics. Together we capture the entire value chain, from monthly shopping to weekly refills and outdoor dining. Most importantly our journey now as one company will be accelerated thanks to an incredible team of international talents and supportive investors.”

    Presence in four countries

    “The new entity is now present in four countries, Saudi Arabia, Egypt, Tunisia and Morocco, with a smart grid of 16 warehouses, and a capacity to cover the existing infrastructure of 25 million people and 100,000 F&B stores, and delivery promises that range from one hour to next day fulfillment,” said Ahmed Demerdash, COO of Appetito, who continues as COO of NOMU.

    According to the new company, it will redeploy its tech teams toward the creation of AI-based algorithms covering smart pricing, predictive demand planning and LTV optimization, and new community-oriented features including group buying, loyalty and embedded finance. Simultaneously, NOMU will adjust its marketing strategy, “keep[ing] local brands where it makes sense and all our apps in all our countries will use a common tech and growth platform,” according to Yassir El Ismaili El Idrissi, Chief Growth and Expansion Officer at Appetito, and now at NOMU.

    NOMU will be headquartered in Riyadh, with a holding structure in Abu Dhabi’s International Financial Centre. The company has ambitions to cover Pakistan and key sub-Saharan countries in the near future.

    Over the past five years, African foodtech startups have raised USD 1 billion, or 10% of total African startup investment.

    Appetito egrocery foodtech Jumlaty M&A merger NOMU Startups
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleStrike action sees SA ports down to 13% of operating capacity
    Next Article Suplyd raises USD 1.6 million in pre-Seed round

    Related Posts

    Business

    Paymob and Khazenly enter partnership

    February 1, 2023
    Business Innovation Startups

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023
    Business Entrepreneurship

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023
    View 1 Comment

    1 Comment

    1. Pingback: MENA startups raised USD 125 million in December

    Leave A Reply Cancel Reply

    LATEST STORIES

    Paymob and Khazenly enter partnership

    February 1, 2023

    Free trade: Qatar and Morocco conclude second round of talks

    January 31, 2023

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.