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Egypt’s United Media Services is Planning Its EGX Debut by 2024

by WAYA Staff - May 30, 2021
Egypt’s United Media Services is Planning Its EGX Debut by 2024

The United Media Services Company (UMS) has announced plans to float 20% to 30% stake on the Egyptian Exchange (EGX) by 2024. The announcement comes amid the company’s restructuring.

Hassan Abdallah has been named as UMS’ Chairman, succeeding Tamer Morsi, who will remain a member of the board alongside Mohamed Samir, Mohamed El-Saadi, Ashraf Salman, and Amr El-Fiqi.

In addition to its EGX debut, it plans to launch a regional news channel to present Egypt’s local and regional vision, the company revealed in a Saturday news conference. 

UMS has turned profitable in 2021 at EGP 256 million, against losses worth EGP 469 million incurred in 2017.

UMS, formerly known as the Egyptian Media Group, is the Middle East and North Africa’s largest media conglomerate with over 30 subsidiaries. These include newspapers, media production, event management, advertising, and communications agencies.

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Careem Provides Donations and Support to Palestinians

by WAYA Staff - May 30, 2021
Careem Provides Donations and Support to Palestinians

Careem has announced the launch of a new feature as part of its initiative to support the Palestinians. The new feature allows Careem’s customers to donate directly to support the relief efforts of the United Nations World Food Program in...

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Mubadala Invests $500 Million in Pet Care Firm IVC Evidensia

by WAYA Staff - May 30, 2021
Mubadala Invests $500 Million in Pet Care Firm IVC Evidensia

Abu Dhabi wealth fund Mubadala invested $500 million in IVC Evidensia, one of Europe’s largest veterinary care providers. IVC Evidensia joins the fund’s growing portfolio of consumer businesses, including Reliance Retail Ventures Ltd., Coupang Inc. and Truck Hero Inc., Mubadala...

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Doctori Raises $500,000 in a Seed Funding Round

by WAYA Staff - May 27, 2021
Doctori Raises $500,000 in a Seed Funding Round

Bahrain-based Doctori Online has announced a Seed investment of $500,000. Doctori is an online platform that provides virtual medical visits through its app. Ahmed Mahmoud, Doctori’s CEO, explained that the application aims to establish a virtual hospital that provides integrated...

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Hadeer Shalaby on Helping SMEs with Food Delivery

by Leena ElDeeb - May 26, 2021
Hadeer Shalaby on Helping SMEs with Food Delivery

Talabat Egypt’s new Managing Director, Hadeer Shalaby tells WAYA about the company’s philosophy, plans and commitment to the SMEs market. Egypt has a big appetite for food delivery, a market that is valued at around $2.5 billion. One key stakeholder...

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Zeta Raises $250 Million Series C Funding from SoftBank

by WAYA Staff - May 25, 2021
Zeta Raises $250 Million Series C Funding from SoftBank

Zeta, the startup in the banking technology sector headquartered in Dubai, announced today that it has raised $250 million in Series C investment from SoftBank Al Thani Vision Fund. The new investment bring the company’s valuation to $1.45 billion. This is...

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NearPay Secures $2.1 Million in Seed Funding

by WAYA Staff - May 25, 2021
NearPay Secures $2.1 Million in Seed Funding

NearPay, a Saudi fintech startup, announced the closure of its seed investment tour worth $2.1 million through angel investors. The company started operating in 2020 and was founded by Mohammed Al-Aiban and Hamza AlFarhan and this is the second investment...

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Rizek Raises $10 Million in Series A Funding Round

by WAYA Staff - May 24, 2021
Rizek Raises $10 Million in Series A Funding Round

Rizek, the UAE-based super app for on-demand home services has raised a $10 million Series A funding round, led by Peak Investments and ADQ, with participation from a number of family offices from the UAE and Saudi Arabia. The latest venture capital funding brings Rizek’s...

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Pas-Sport’s Plans for the Post-Pandemic Future

by Nour El Khazindar - May 24, 2021
Pas-Sport’s Plans for the Post-Pandemic Future

Traveling abroad has become complicated, and making long-term plans to study and move abroad has become an impossibility. Travel restrictions, new measures, and constant changes that limit opportunities have dissuaded many to apply to local and international universities. Pas-sport is...

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