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The Nigerian tech startup scene has attracted the highest levels of tech startup funding across Africa, with fintech leading the way, according to Disrupt Africa, a startup-focused research platform.
liwwa gains support from international and regional investors as smaller MENA markets see increasing activity.
MENA startups from across the region raised USD 378 million in August, a 260% increase in value, but the number of deals fell month-on-month. July saw investments of USD 105 million, the lowest amount in 2022.
Tanzania sends a delegation to Doha seeking investment in the tourism and hospitality sectors and co-operation between tourism and hospitality-related businesses.
African tech investment is dominated by Nigeria, Egypt, Kenya and South Africa, according to a report by Disrupt Africa.
The Group 42 fund will operate as a private equity investor and will target high-growth markets.
Appetito, an Egyptian online grocery service and Purity, a Saudi-based IT infrastructure firm, have signed an MoU to expand the former’s services across the MENA region.
Egypt’s Convertedin has raised USD 3 million in a round featuring regional and international investors.
MENA unicorns set to emerge due to favorable regional conditions, according to a recent report by Saudi firm STV.
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.