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20/12/2024

Microsoft’s investment deepens the existing collaboration with G42, with plans to run AI applications and services on Microsoft Azure and deliver advanced AI solutions to global public sector clients and large enterprises.

Together, they will extend advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa. The partnership also focuses on developing a skilled and diverse AI workforce, supported by an investment of AED3.67 billion in a development fund for developers.

Read the full story here: https://waya.media/microsoft-invests-usd1-5-billion-in-g42-for-global-ai-advancement/

Microsoft

20/12/2024

Wa’ed Ventures, a USD 500 million venture capital fund fully owned by Saudi Aramco, has pledged USD 100 million for investments in early-stage global AI companies, according to media reports.

To drive these investments and localize global AI startups, Wa’ed Ventures has formed an advisory board comprising global AI experts. The board members have experience in AI research, academia, and entrepreneurship, with ties to organizations like Meta, Amazon, MIT, and Oxford.

Read the full story here: https://waya.media/waed-ventures-commits-usd-100m-to-invest-in-ai-startups/

19/12/2024

Paymob, MENA’s fintech frontrunner, has just set a new benchmark by enabling Apple Pay acceptance for its Egyptian merchant network.

With Apple Pay’s debut in Egypt, the integration offers consumers a secure, contactless way to shop using iPhones, iPads, and Macs.

Read the full story here: https://waya.media/?p=23184
Paymob Apple Pay

19/12/2024

Digital bank D360 Bank has officially received approval from the Saudi Central Bank (SAMA) to initiate its digital banking operations.

The bank’s mission is to provide Shariah-compliant financial services, enhancing credit access to a broader segment of the Saudi population by leveraging modern technologies in line with regulatory requirements.

Read the full article via the link: https://waya.media/?p=23193
البنك المركزي السعودي - ساما

19/12/2024

US tech companies heavily rely on visas to hire thousands of skilled workers, particularly from India and China.

A new rule announced by the Department of Homeland Security (DHS) seeks to modernize the criteria for specialized roles and exempt nonprofit and government research organizations from the annual visa cap.

Additionally, the rule provides more flexibility for F-1 visa holders transitioning to H-1B status, helping to minimize disruptions to their legal status and employment, which is crucial for maintaining workforce stability in the tech sector.
Department of Homeland Security

19/12/2024

OmniOps raised USD 8 million from GMS Capital Ventures to expand AI infrastructure in Saudi Arabia.

AI infrastructure provider partners with global tech leaders like NVIDIA and Google Cloud to support clients’ digital transformation.

Read the full article via the link: https://waya.media/?p=23187
NVIDIA Google Cloud

19/12/2024

University Mohammed VI Polytechnic (UM6P) launched "The Forge" program in Casablanca, aimed at helping founders transform ideas into thriving businesses.

Set to begin in March 2025, the program will be hosted at StartGate, UM6P's innovation hub in Benguerir, and run for nine to twelve months.

Open to founders from Morocco, Africa, and beyond, "The Forge" offers support through four stages: ideation, incubation, acceleration, and scaling. Entrepreneurs will benefit from mentorship, cutting-edge labs, and funding opportunities at UM6P.

19/12/2024

This license allows Bamboo to provide direct access to the US stock market, enabling its customers to buy and sell stocks seamlessly.

As announced on their social media and confirmed by industry sources, this milestone places Bamboo among the few African platforms operating at this level of global financial integration.

Read the full story here: https://waya.media/?p=23181
Invest Bamboo SA

19/12/2024

Saudi Arabia has achieved a historic milestone: extracting lithium from oilfield runoff. The state led project will see a handover to LiHyTech during the commercial phase.

By positioning itself as a key player in the global EV battery supply chain, Saudi Arabia is not only addressing growing demand but also fostering job creation in high-tech sectors.

Read the full story here: https://waya.media/?p=23170

19/12/2024

stc Group, a key enabler of digital transformation in the region, recently celebrated the graduation of 44 Saudi and international startups through its inspireU business accelerator.

The event highlighted the achievements of the 10th and 11th cohorts of the general program, along with the first cohort of the advanced program.

Entrepreneurs shared their journeys and growth under inspireU’s mentorship. Since 2015, inspireU has supported over 130 startups, including successful names like Mrsool, Zid, and Sary, driving innovation and aiding Saudi Arabia’s digital transformation.

19/12/2024

The Oman Investment Authority (OIA), the country’s sovereign wealth fund, has acquired a stake in xAI, the artificial intelligence company founded by Elon Musk. The investment details were announced by the Omani state news agency, though the size of the stake remains undisclosed.

Musk, with a net worth of USD 486 billion, intends to use xAI to create advanced AI models with practical applications, supporting Oman’s ambitions to become a regional AI leader.

In August, Oman introduced a National AI Policy aimed at boosting the digital economy's GDP contribution from 2% in 2021 to 10% by 2040.

Oman Investment Authority جهاز الاستثمار العماني

19/12/2024

AD Ports Group has appointed Hassan Allam Construction to build the Noatum Ports – Safaga Terminal, in line with Egypt’s Vision 2030.

The Safaga Terminal will be the first internationally-operated port in Upper Egypt, located on the Red Sea coast. Spanning 810,000 m², the terminal will feature a container capacity of 450,000 TEUs.

Read the full article via the link:https://waya.media/?p=23165

Hassan Allam Properties AD Ports Group

18/12/2024

Westa Solar, a Nigerian solar energy company, has supercharged its mission securing a hefty USD 15 million in senior debt financing from Afrigreen Debt Impact Fund (AFRIGREEN).

This financial boost is set to amplify Westa Solar's footprint across Africa's commercial and industrial (C&I) sectors, providing businesses with cleaner, more reliable energy alternatives.

Read the full story here: https://waya.media/?p=23128

18/12/2024

Entrepreneurs interested in participating in the Qualcomm Make in Africa 2025 program can now submit their applications for this significant event.

The Make in Africa Startup Mentorship program highlights the emerging energy and innovation within Africa’s tech ecosystem. Supported by Qualcomm, the program is part of the broader Qualcomm Africa Innovation Platform, which is dedicated to empowering startups.

Through its Wireless Reach Social Impact Fund, Qualcomm provides resources to help startups expand their societal and market impact.

18/12/2024

The Federal High Court in Lagos has issued a temporary order preventing the Advertising Regulatory Council of Nigeria (ARCON) or its agents from demanding 60 bn naira (approximately USD 38M) from Facebook Nigeria Operations Limited over alleged violations.

In its notice of violation, ARCON accused Facebook of displaying unapproved advertisements on its platforms, resulting in the dissemination of inappropriate and misleading ads that harm Nigerian consumers and the country’s advertising industry.

In response, Facebook has denied these allegations, asserting that it complies with all applicable advertising laws in Nigeria.

Facebook

18/12/2024

Iraq Venture Partners announced that it has received funding worth 2.6M EUR from the Kingdom of the Netherlands to support the second phase of the Orange Corners Innovation Fund.

Read the full story: https://waya.media/?p=23138
Iraq Venture Partners Orange Corners

18/12/2024

CredibleX, a UAE-based company specializing in integrated lending solutions for small and medium enterprises (SMEs), has successfully closed a USD 55M seed funding round.

The funding, which includes a mix of equity and debt, was backed by prominent investors, including Further Ventures, Kilgour Williams Capital, and Berkley Square Finance.

The platform provides flexible and transparent financial solutions tailored to meet the unique needs of SMEs.
Read the full story: https://waya.media/?p=23135

18/12/2024

InvoiceQ, a Jordanian SaaS provider specializing in electronic invoicing and integration solutions, has successfully raised USD 1.2M in a Pre-Series A funding round.

The company will use the new funding for regional expansion, including plans to enter Oman, Egypt, the UAE, and the GCC area.

Read the full story: https://waya.media/?p=23132
InvoiceQ Flat6Labs Oasis500

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