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Egypt’s fintech startup, Yalla expands into Saudi Arabia

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Egypt-based fintech startup, Yalla penned significant agreements with major financial companies and institutions which will see it expand its operations into Saudi Arabia and the MENA region.

Founder and CEO of the platform, Dr Waleed Sadek, who disclosed this on Tuesday, said the fintech was “set on expanding into Saudi Arabia this year, having signed a variety of agreements, including a memorandum of understanding with Alinma Bank and Digital Pay.”

“The launch of Yalla in the Saudi market is a pivotal milestone for the company. It follows a comprehensive study of the needs and expectations of various individual and corporate customers in the Kingdom, building on the unprecedented success achieved by the Yalla platform in Egypt,” Sadek said in a statement.

“Additionally, after the launch of the app in the UAE earlier this year, a significant market in the region, we aim to attract approximately one million Saudi users to the Yalla platform during the first year of operation, offering the best possible services that cater to the desires and needs of our customers in the Kingdom of Saudi Arabia,” he added.

Yalla is one of Egypt’s top financial apps that gives users the opportunity to send and receive money, pay merchants online and offline, and place orders.

According to its website, the startup has so far garnered over two million users, with over seven million transactions processed through the app.

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Ghana partners with The Gambia to provide free roaming services

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Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

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Tanzania to host 6th Ocean Innovation Africa summit in February

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Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

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