fbpx
Read Watch
Markets

Vodafone Announces Talks in Egypt with STC Have Been Terminated

by WAYA Staff - Dec 21, 2020
Vodafone Announces Talks in Egypt with STC Have Been Terminated
Source: Amr Abdallah Dalsh for Reuters

Vodafone announces today that its discussions with Saudi Telecom Company (STC) regarding the sale of their 55% shareholding in their Egypt entity have been terminated.

“We believe that the Egyptian government is committed to an optimal framework for the telecoms sector, which will enable Vodafone Egypt to deliver on the country’s vision of digitization and financial inclusion and create a technology hub to support our growth in the African region.”

Vodafone Group, CEO, Nick Read

Back in January this year, STC had signed an initial agreement to acquire Vodafone’s 55% stake in Egypt for $2.4 billion in the latest step to unravel the British group’s global empire.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.

Recommended stories

The World’s 500 Most Influential Brands in 2020

Amazon, Google and Microsoft claimed the top three slots; the United States had the most representation, with France, Japan, China and the UK following behind as the second camp.
by WAYA Staff - Dec 21, 2020
The World’s 500 Most Influential Brands in 2020

Thanks to the consumer increases brought about by the pandemic, last year’s runner-up, Amazon, defeated Google to top the list; Google fell to second place; and Microsoft, whose net profit increased significantly in fiscal 2020, took third. That’s what is...

Read More

Morni Raises $9.1 Million in Series B To Grow Its Vehicle Logistics Services in KSA

Morni plans to use the newly raised funds to continue expanding its vehicle logistics services to cover more cities.
by WAYA Staff - Dec 17, 2020
Morni Raises $9.1 Million in Series B To Grow Its Vehicle Logistics Services in KSA

Morni, the Saudi Arabia-based platform providing vehicle logistics services, has raised a $9.1 million (SAR 34.3 million) funding round, led by GSquare Investments, with the participation of Al Turairi and other investors. The startup provides towing and roadside assistance, both on-demand and subscription-based solutions...

Read More

How The World Food Programme Teaches Refugees Digital Skills

The organization hopes to teach 100,000 refugees digital skills over the next five years
by WAYA Staff - Dec 17, 2020
How The World Food Programme Teaches Refugees Digital Skills

The United Nations estimates there are nearly 26 million refugees around the world, half of whom are under the age of 18. To make matters worse, 85% of refugees live in developing countries that are struggling with their own socio-economic...

Read More

Wasla Browser Reaches One Million Users and Hits #3 on Google Play

The Egyptian startup is on a mission to democratize internet consumption.
by WAYA Staff - Dec 17, 2020
Wasla Browser Reaches One Million Users and Hits #3 on Google Play

Wasla Browser, the world’s first free web browser built to help emerging market users save data and money online, has reached over one million users. Their growth, which remains largely organic has been driven by a growing need for internet...

Read More

Paynas Partners with Visa and Banque Misr to Launch Financial Platform

The partnership entails building a digital platform and financial services for MSMEs and contractors in Egypt.
by WAYA Staff - Dec 15, 2020
Paynas Partners with Visa and Banque Misr to Launch Financial Platform

Paynas today announced the launch of a new digital solution specifically designed to meet the unique needs of micro, small, and medium enterprises (MSMEs) and contractors in Egypt. Paynas has designed and developed a platform to provide HR management tools...

Read More

Scoodle: The Learning App Targeting The Middle East

The global learning app saw its traffic double due to the pandemic
by WAYA Staff - Dec 14, 2020
Scoodle: The Learning App Targeting The Middle East

The global pandemic has severely disrupted education around the world as class sizes have reduced and schools closed. From kindergarten to university, millions of students have had to continue their education virtually. UNESCO currently estimates there are over 300 million...

Read More

Bee’ah: The UAE Company in Charge of the Egyptian New Capital’s Waste Management

We had a conversation with Mohammed bin Kuwair from Bee'ah, an Emirati company aiming to revolutionize waste management in the region.
by Leena ElDeeb - Dec 13, 2020
Bee’ah: The UAE Company in Charge of the Egyptian New Capital’s Waste Management

We’re all at the edge of our seats, waiting for the inauguration of the new administrative capital that is meant to solve all of Egypt’s most stubborn urban problems. The 700 square kilometer capital, launched in 2015 by Egyptian President...

Read More

Zain Launches Zain Esports To Boost Regional Gaming Ecosystem

The new esports initiative will host multiple online gaming tournaments over the next year
by WAYA Staff - Dec 13, 2020
Zain Launches Zain Esports To Boost Regional Gaming Ecosystem

Kuwaiti telecom giant Zain has launched Zain Esports, a new esports initiative to boost the Middle East’s online gaming ecosystem. The initaitive will host online gaming tournaments over the next twelve months including multiple flagship and community events. Moreover, these...

Read More

The Middle East Is Facing A “Cyber Pandemic”

The region is experiencing more cyber attacks amplified by the effects of the global pandemic
by WAYA Staff - Dec 10, 2020
The Middle East Is Facing A “Cyber Pandemic”

The Middle East is witnessing a “cyber pandemic,” according to UAE Cyber Security Chief Mohamed al-Kuwaiti. Speaking at the Gulf Information Security Expo and Conference in Dubai, al-Kuwaiti said COVID-19 related attacks had skyrocketed in 2020. In addition, the UAE...

Read More