Thursday , 21 November 2019
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Tag Archives: Funding

MENA startup update: $517mln investments YTD; UAE top in funding; rise in fintech deals

The UAE remains top recipient of funding, Egypt tops in deals The startup ecosystem is growing quickly in the Middle East and North Africa (MENA), with $517 million being invested in 354 deals in 2019 so far. 2019 year-to-date (YTD) saw $517 million in total funding, an increase of 30 percent compared to the same period of 2018, with a …

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Green for Growth Fund (GGF) attracts EUR 4 million in new catalytic funding for climate action in Middle East North Africa (MENA) region

GGF has seen remarkable growth in its MENA investment portfolio, which increased by over 50% in volume in 2018 to cross the EUR 133 million mark Climate Action in the Middle East North Africa (CAMENA) invests EUR 4 million in the GGF to attract private capital for helping the region fight climate change; together with EUR 5 million EIB investment, …

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UAE-based solar developer raises $65mln from global investors, eyes larger funding by 2020 – CEO

Yellow Door Energy plans to use proceeds to break into new Arabian Gulf and African markets Dubai-based Yellow Door Energy (YDE), a provider of solar energy solutions in the Middle East and Africa, has raised $65 million from international investors in Series A funding, its chief executive said. “We have five global investors that are funding this equity in Yellow …

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Entrepreneurship in the Arab world: the opportunities, challenges, the stakeholders and the funding environment

Zawya has conducted a series of interviews with many stakeholders in the Arab entrepreneurship space to gauge their views on the opportunities and the challenges that they face. Governments across the Arab world have been spending money on consultants to set up incubators and other tools to help those with business ideas create new firms and scale them, as more …

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Holding the key: SMEs play major role in economic growth but struggle to gain bank funding

Small and medium-sized enterprises (SMEs) need better access to finance instead of being forced to pay high interest rates and stringent conditions to gain bank loans, a new report states. However, the report published last week by Allied Investment Partners (AIP) adds that governments in the Gulf Cooperation Council (GCC) are addressing the issues faced by SMEs with a number …

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Lines of Business Now Funding More than 40% of Enterprise IT Spending as Digital Transformation Sweeps Across the Middle East & Africa

The influence of lines of business (LoBs) over enterprise IT spending in the Middle East and Africa (MEA) continues to grow, according to the latest insights from International Data Corporation (IDC). The firm’s recently published ‘Worldwide Semiannual IT Spending Guide: Line of Business’ shows that 40.5% of the region’s total enterprise IT spending for 2015 stemmed from business functions rather …

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UPDATE 2-IMF agrees $12 billion 3-year funding deal with Egypt

IMF loans to help budget deficit and dollar shortage Deal still to be approved by IMF executive committee Markets cautious, pending implementation By Lin Noueihed and Ahmed Aboulenein CAIRO, Aug 11 (Reuters) – The International Monetary Fund has agreed in principle to grant Egypt a $12 billion three-year loan facility, to support a government reform programme aimed at plugging a …

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Al-Khair Foundation seeks UAE partnerships to jointly fund and deliver US$20-30m projects in the Middle East

Leading UK-based Muslim charity calls for collaborations with UAE NGOs at Dubai International Humanitarian, Aid and Development Exhibition. Al-Khair Foundation (AKF), one of the largest Muslim charities in the United Kingdom, announced today at the Dubai International Humanitarian Aid and Development Conference and Exhibition that it is seeking partnerships with UAE-based non-profit organisations to deliver life-changing projects to those in …

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Souq.com raises more than AED 1 Billion (USD 275 million), the largest e-commerce funding in Middle East history

Funding confirms sustained confidence in the brand and is expected to boost SME growth. Dubai, U.A.E: Souq.com, the Middle East’s largest online retail and marketplace platform, announced today that it has completed a funding round of more than AED 1 Billion (USD 275 million), the largest financing of an e-commerce business in the Middle East. The significant investment will support …

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Wadi.com secures largest Series A funding in the tech history of the Middle East

The company raises USD 67M with Al Tayyar Group as lead investor. Wadi.com, the fastest growing e-commerce platform of the Middle East, has raised USD 67m with Al Tayyar Travel Group as the lead investor ten months after its launch. The investment marks the largest series A funding in the tech history of the Middle East and will further accelerate …

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