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Egyptian e-commerce startup, Awfar set to expand into Saudi Arabia after raising six-figure funding

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Egypt-based SaaS ecommerce startup, Awfar, which offers fully integrated technology solutions for retail businesses, is set for a massive expansion drive into Saudi Arabia after raising a six-figure investment funding from Saudi-based venture studio, Value Maker Studio (VMS).

The investment, according to founder and CEO of Awfar, Abdelrahman Galal, will provide the struggling startup a seamless entry into the Saudi Arabian market as part of its effort to push its way into the MENA space.

Awfar, which was founded in 2020 by Galal, provides comprehensive technology solutions for retail businesses which include cloud-based services, point of sale (POS) systems, commercial and operational reporting, and delivery management solutions.

The excited Galal who spoke on the partnership with VMS, said it marked a significant milestone in the expansion journey of the startup.

“Our collaboration with Value Maker Studio marks a significant milestone in our journey. VMS’s Bridge Program has been instrumental in helping us overcome the challenge of entering the Saudi market. In less than a month, we were able to secure contracts and establish partnerships with major chains in Saudi Arabia,” he said.

The CEO noted that over the years, Awfar had significantly contributed to the growth and success of businesses across Egypt and the MENA region, earning a reputation as a one-stop shop for retailers seeking to enhance their customer engagement strategies and sales operations.

“Awfar provides support to all the popular online grocery, pharmacies, and restaurants and all retail delivery models with its customizable e-commerce solutions,” he said

“Our recent synergy with VMS is poised to disrupt the Saudi Arabian startup landscape, empowering entrepreneurs and providing them with the resources, mentorship, and guidance needed to transform ideas into successful ventures.

“Value Maker Studio is a pioneer in value-focused innovation. It aims to empower exceptional entrepreneurs, drive technological innovation, foster job creation, and secure a strategic foothold within the Saudi market.”

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DR Congo sues tech giant Apple over illegal mineral exploitation

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The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation

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Moroccan retail-tech startup Z raises $1.5m to drive intense growth

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Morocco-based B2B retail-tech marketplace, ZSystems, has announced closing a $1.5 million seed funding round which will see it carry out its ambitious expansion dreams.

In a statement by co-founder and CEO, Meriem Benabad, the funding round was led by Morocco-based Venture Capital firms, MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures.

“This funding marks a pivotal moment for Z, as we aim to scale operations and bring cutting-edge solutions to traditional retail.

“Our vision is to empower small businesses and unlock growth across Morocco and Africa,” Benabad said.

According to Benabad, the newly acquired capital will support Z’s technology development, product catalogue expansion, and preparation for its next growth phase.

“Z is reshaping the retail landscape by integrating technology and innovation across the value chain. Its scalable platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market,” he added.

Founded in 2022 by the trio of Benabad, Samer Choumar and Youssef Ait-Haddouch, Z’s platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market.

Since launch, the startup has helped over 15,000 active retailers, and seen more than 800,000 orders placed.

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