What's Hot

    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
    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
    Entrepreneurship

    Riyadh’s GEC Attracts Egyptian Startups

    March 25, 20222 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    GEC
    The GEC brings together speakers, startups and investors.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Saudi Arabia’s Global Entrepreneurship Congress (GEC) opens on March 27 in Riyadh. The four-day event is rapidly becoming a must-visit meeting point for entrepreneurs, investors and business people alike.

    Saudi Arabia’s startup ecosystem is burgeoning and, according to research firm Startup Genome, it ranks as number five out of 45 countries for the scale and breadth of its startup ecosystem.

    The GEC will run for four days and will see 150 speakers including policy makers, investors, business founders and CEOs, including Steve Wozniak, co-founder of Apple and Marc Randolph, co-founder of Netflix.

    Saudi startup scene on the rise

    Saudi Arabia has seen as 54% jump in startup funding deals in 2021, compared to the year before and, according to a report by research platform Magnitt, accounted for 23% of all funding in the MENA region in 2021.

    One of the most vibrant startup environments in Africa is Egypt, with Magnitt reporting that the country attracted 270 percent higher venture funding in 2021 than the year before as the government aims to achieve its 2030 economic vision initiatives. As a result of the high levels of investment within the country, Egyptian startups are on the radar of international investors.

    Egypt-based logistics startup Bosta recently announced its expansion plans in Saudi Arabia after raising a series B funding. Cairo-based digital freight marketplace Trella, started operations in Egypt in 2018, and has expanded its operation into the Kingdom, later raising USD 42 million in its last funding round that was co-led by Saudi-based venture capital Raed Ventures.

    e-Commerce startups flourishing

    Alongside the freight and logistics sector, Saudi Arabia’s e-Commerce sector is recording increased activity, with startups from both Egypt and Saudi Arabia reporting acquisitions. Saudi Arabia’s B2B e-commerce marketplace Sary recently announced the acquisition of Egyptian e-commerce platform, Mowarrid.

    Saudi Arabia and Egypt ranked first and second respectively in terms of the number of acquisitions in January of this year, according to Magnitt, with Saudi Arabia raising USD 219 million in February alone, according to Wamda.

    Egypt GEC Global Entrepreneurship Congress saudi arabia Startups
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleFlapKap raises USD 1.2 million, targets expansion
    Next Article Foreign investment hits all time high as Egypt’s startups raise USD 491 million

    Related Posts

    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
    Business Entrepreneurship

    Wafeq raises USD 3 million in seed round

    January 26, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    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

    African startups double debt financing

    January 25, 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.