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15/01/2025

UAE’s Masdar announces plans to create a new solar and battery energy facility that is expected to cost around USD 6 billion.

Read the full story here: https://waya.media/?p=23347
Masdar

15/01/2025

Abu Dhabi Investment Authority (ADIA) has made a significant move in the U.S. power sector, investing $500M in AlphaGen, a leading power company formed by ArcLight Capital Partners. With over 11 GW of generation capacity, AlphaGen is positioned to meet the rising electricity demands from AI-driven industries and the push for sustainable energy solutions.

This investment aligns with ADIA’s strategy to expand its private equity portfolio and strengthen its role in industries tied to global trends like technological innovation and energy transition. Regulatory approvals are pending, with the deal expected to close by mid-2025.

A clear signal of ADIA’s growing influence in the global energy landscape.

Read the full story here: https://waya.media/adia-invests-500m-in-us-power-company-alphagen/

15/01/2025

Ma’aden sets out to open offices in Brazil with an estimated investment of USD 1.31 billion aiming to advance geological mapping in Brazil.

Saudi Arabia’s Ma’aden, according to Zawya, is the mining arm of the Crown Prince’s Public Investment Fund (PAF). This venture aligns with the Kingdom’s Vision 2030 to diversify its economy and leverage its expertise in mining and sustainable energy.

15/01/2025

Sigma Capital launches the USD 100 million Sigma Capital Fund to accelerate Web3 innovation across MENA and globally. The fund targets early-stage investments in DeFi, blockchain infrastructure, gaming, metaverse, and real-world asset tokenization.

Read the full story here: https://waya.media/?p=23340

14/01/2025

Ezz Elsewedy Automotive Factories (ESAF) starts trial of locally assembled Proton in anticipation of competitively- priced release in mid-February.

Read the full story here: https://waya.media/?p=23321

14/01/2025

New York based Newlab expands into Riyadh, Saudi Arabia to serve as their hub in the MENA region. They are aiming to utilize the Kingdom’s structural advantages to catalyze a tech ecosystem.

In their expansion, they are partnering with both public and private sector stakeholders in order to accelerate tech startups inline with the Kingdom’s Vision 2030.

14/01/2025

This milestone supports individuals with no prior credit history or fintech experience through financial support and seamless access to nano loans.

Users will be able to access and apply for loans using a fully digital eKYC process, which will allow them to receive their funds in a few minutes.

The loans are offered to facilitate business growth, support cash flow cycles, and help nano businesses and solo entrepreneurs.

With a fully digital solution and great success in Egypt, Raseedi plans to enhance financial accessibility by expanding its services into other markets across Africa and Asia.

Read the full story here: https://waya.media/raseedi-acquires-kashat-unlocking-instant-cash-lending-for-underbanked-egyptians/

14/01/2025

The Saudi-based fintech startup Amwal Tech has successfully raised USD 4 million in a seed funding round. They aim to direct this funding towards developing their technology, expanding their partner network and enhancing installment services in the Saudi and neighboring markets.

Amwal is currently developing an installment portal, according to Jawlah, in collaboration with local banks that incorporates biometric authentication. Thus, allowing banks to provide instant financing to customers during their purchase.

14/01/2025

In a funding round led by Raed Ventures and Shorooq, Halo AI raised USD 6 million as part of the 1 Billion Pitches Competition. With this investment, the company aims to expand across the MENA region, beyond Saudi Arabia, focusing on the UAE and Kuwait.

Read the full story here: https://waya.media/?p=23314

14/01/2025

مع عملية الاستحواذ الجديدة، سيتمكن المستخدمون من التقديم على تمويل نقدي فوري مقدم من فاروس للتمويل متناهي الصغر من خلال تطبيق رصيدي ويتم إيداع المبلغ مباشرة في محافظ هواتفهم المحمولة بعد الموافقة الائتمانية.

تعتزم شركة رصيدي استخدام تكنولوجيتها الخاصة لتقييم الجدارة الائتمانية لتزويد أصحاب الأعمال الصغيرة والفردية بتمويلات نقدية فورية تصل إلى 3,000 جنيه في أقل من 5 دقائق. - بحسب بيانها الصحفي -

التفاصيل عبر الرابط: https://waya.media/arabi/?p=16128
Raseedi - رصيدى Kashat - كاشات

13/01/2025

Aramco-backed Wa’ed Ventures invests USD 30 million into Zension Technologies in a series A funding round. With this funding, Zensions aims to launch its new service Zaam in the first quarter of the year in Saudi Arabia and the UAE.

Zension Technologies, according to entArabi, aims to reduce electronic waste by extending the life of smart devices. With Zaam, they aim to extend that based on the principles of a curricular economy. They will offer a monthly subscription service designed to maximize the lifecycle of electronic devices.

13/01/2025

The Information Technology Industry Development Agency (IDITA) has signed a memorandum of understanding (MoU) with Konecta Egypt, subsidiary of Konecta Group. They aim to serve MENA, Africa, Europe and Americas from their new headquarters in New Cairo.

Konecta plans to invest USD 100 million over the next three years to establish a Generative AI Center of Excellence in Egypt. The aim is to create 3,000 jobs in outsourcing, customer service, technical support, data analysis and cybersecurity.

13/01/2025

The Fonds de Garantie des Crédits Aux Prime (FGAR) financed 386 enterprises last year with a projected total value of USD 427 million (DZD 58 billion). The fund aims to facilitate bank loans for SMEs and to mitigate financing risks.

Read the full story here: https://waya.media/?p=23310

وزارة الصناعة والانتاج الصيدلاني

13/01/2025

According to The South African newspaper “BusinessDay,” the Minister of Trade, Parks Tau, announced that the public and private sectors will collaboratively manage the so-called “transformation fund.”

The National Empowerment Fund, a special-purpose entity, will facilitate this initiative benefiting companies predominantly owned by Black citizens.

This initiative also aims to reach women, youth, people with disabilities and those living in townships and rural areas.

Multinational companies operating in South Africa will be required to allocate 25% of their operations' value to economic transformation and improving the conditions of the Black majority.

These measures come to ensure fair competition in South Africa and they aim to contribute to the greater goal of economic transformation.
National Empowerment Fund

13/01/2025

The Central Bank of Egypt (CBE) revealed in the fourth edition of its economic magazine that the Nclude Fund injected USD 24.5 million into 8 fintech startups. The fund’s capital exceeded USD 105 million and thus encouraged foreign investment in this vital sector.

Read the full story here: https://waya.media/?p=23307

13/01/2025

CIRA Education launched CIRA Care with a USD 27.7 million investment with a focus on childcare, healthcare, disability support and eldercare. CIRA aims to use this investment to meet Egypt's care needs and export skilled care workers.

Read the full story here: https://waya.media/?p=23300

12/01/2025

UAE-based Mubadala Capital participates in a USD 200 million investment into Tenvie Therapeutics with ARCH Venture Partners, F-Prime Capital, to accelerate Tenvie into a multi-clinical asset company focused on advancing the treatment of neurological diseases.

Read the full story here: https://waya.media/?p=23294
Mubadala

12/01/2025

MAGNiTT, in its “Emerging Markets Investment Brief for FY24” report, revealed that emerging venture capital markets in the Middle East, Africa, Pakistan, Turkey, and Southeast Asia raised $9.1 billion over the past year. The advertising and information technology sectors stood out as the most prominent areas of growth during this period.

MAGNiTT

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STORIES SHAPING OUR FUTURE

As people of the Middle East, our narrative was not written by us. It was written for us. Our recipe changes that.

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