Vodafone Egypt acquires 10% stake in Bee and Masary

by WAYA Staff - Apr 20, 2022

Vodafone Egypt acquires 9.99% stakes in Bee and Masary, the subsidiaries of Ebtikar Holding for Financial Investments. The acquisitions comes the MoU signed between the two companies in February 2021 in which Vodafone announced that it has acquired 20% stake in e-payment companies Masary and Bee,

This acquisition is meant to contribute to the growth of the volume of business and the development of the work system and the services provided by the two companies while benefiting from their expertise in Africa.

This comes as confirmation of the company’s desire to increase its investments in the Egyptian market, especially in the field of digital transformation, and to achieve financial inclusion in Egypt.

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Egypt’s cloud kitchen operator The Food Lab raises $4.5m in a pre-seed round

by WAYA Staff - Apr 19, 2022

The Food Lab (TFL), Egypt’s first cloud kitchen services operator, raised $4.5m in a pre-seed fund round. This round included investors from across the world and was co-led by Nuwa Capital, Shorooq Partners and 4DX Ventures. The pre-seed round also...

Brmaja Technology Egypt acquires Saudi’s Brmaja Commercial

by WAYA Staff - Apr 18, 2022

Brmaja Technology Egypt signed a memorandum of understanding (MoU) to acquire Brmaja Commercial Saudi Arabia which has a market value estimated at about $20m. This step comes within the group’s strategy on consolidating investment relations between the two countries in...

Fashion tech startup Nessiam raises 3 million moroccan dirhams

by WAYA Staff - Apr 17, 2022

Nessiam, Morocco-based fashion tech startup, raised 3 million Moroccan dirhams, which accounts to almost $305k, under the 212 Founders program. This investment will allow Nessiam to become a benchmark brand in the MENA region and establish other product lines such...

UAE based financial analysis app Lune Technologies raises AED 250k

by WAYA Staff - Apr 17, 2022

Lune, a platform specialising in the field of financial data analysis, raised AED 250,000 from Sandooq Al Watan, a community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming generations. “The concept of Lune...

Procurement SaaS startup Penny launches a B2B marketplace

by WAYA Staff - Apr 14, 2022

Penny, Saudi-based procurement SaaS startup, launched Penny Souq, a B2B marketplace for the Saudi market. The startup has also partnered with Monshaat, SME Authority in Saudi Arabia, to enlist and support local merchants. The markeplace will include hundreds of major...

UAE’s Uniphore acquires AI-powered knowledge automation solution Colabo

by WAYA Staff - Apr 14, 2022

Uniphore, acquired Colabo, an AI-powered knowledge automation solution that specializes in extracting and utilizing information from structured and unstructured documents in real time. Colabo’s solution integrated into Uniphore’s conversational automation platform, enterprises will be able to leverage AI to extract knowledge...

First Abu Dhabi Bank withdraws offer for Egypt’s EFG Hermes

by WAYA Staff - Apr 14, 2022

First Abu Dhabi Bank (FAB) withdrew its offer to buy a controlling stake in Egyptian investment bank EFG Hermes. “After careful consideration and in the context of ongoing global market uncertainty and volatile macroeconomic conditions, First Abu Dhabi Bank has...

OPay obtains preliminary approval from the Central Bank to issue prepaid cards

by WAYA Staff - Apr 14, 2022

OPay Egypt, FinTech and e-payments solutions provider, obtained preliminary approval from the Central Bank of Egypt to issue prepaid cards through their OPay application, in cooperation with Masria Digital Payments. “We are very pleased to cooperate with Masria Digital Payments...

Saudi’s Spoilz Games raises $700k in a pre-seed round

by WAYA Staff - Apr 13, 2022

Riyadh-based Spoilz Games raised 2.6 million SAR in a pre-seed funding round from angel investors. This investment will allow the company to further develop and publish high-quality, entertaining games that create memorable experiences for a global audience of gamers, as...

ADQ invests almost $1.8 billion in 5 EGX-listed companies

by WAYA Staff - Apr 13, 2022

Abu Dhabi’s state holding company ADQ has bought shares worth almost $1.8 billion in five publicly traded Egyptian companies. The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks; Fawry, the leading digital transformation and e-payments...

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