Tech

Egypt’s fintech startup, Yalla expands into Saudi Arabia

Published

8 months ago

September 12, 2023

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.

Related Topics:Egypt Featured fintech MENA Saudi Arabia Yalla

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Tech

Dubai’s cybersecurity firm CyberKnight sets up business in Africa

Published

19 hours ago

May 17, 2024

Akanimoh Etim

Dubai-based cybersecurity company, CyberKnight, has expanded its business into Africa by opening an office in Egypt.

CyberKnight, a cybersecurity advisory and value-added-distributor (VAD), which has its international headquarters in Dubai with a strong presence across the Middle East, announced its expansion into Africa on Friday with the appointment of Naoufal Mzali as the Regional Sales Director for the continent to spearhead its business development efforts on the continent.

As the newly appointed Regional Sales Director for Levant, Egypt & Africa, Mzali will lead the charge in strengthening CyberKnight’s presence in the territory and fostering growth in the African cybersecurity market, the company said in a statement.

“With over 17 years of experience in technology and cybersecurity, his strong engineering background, coupled with a successful track record in sales, makes Naoufal an asset to the CyberKnight team.”

A statement signed by Mzali to welcome CyberKnight into Africa said:

“We are excited to enter this new chapter of growth with CyberKnight’s on-the-ground expansion into Africa.

“Since the company’s inception, we have been doing business opportunistically in multiple African countries from our HQ in Dubai.

“This underscores our commitment to delivering best-of-breed cybersecurity expertise to enterprise and government customers, as well as strategic partners across Africa.

“Moving forward, we will be building teams across the continent, starting with North Africa.”

Tech

Google relaunches Hustle Academy with AI focus to empower African SMBs

Published

2 days ago

May 16, 2024

Akanimoh Etim

Google has relaunched the 2024 cohort of its Hustle Academy, a programme dedicated to accelerating the growth of small and medium-sized businesses (SMBs) in Sub-Saharan Africa.

Making the announcement on Thursday, Google said it is opening of applications for the Hustle Academy with a special focus on using Artificial Intelligence (AI) to provide comprehensive business education, mentorship, and networking opportunities to SMBs.

According to Kristy Grant, Head of B2B marketing for Sub-Saharan Africa at Google, the 2024 cohort of the programme introduces a significant upgrade – business-focused AI training integrated directly into the curriculum.

“This year, the new AI modules focus on data-driven decisions, optimising operations, and building AI-powered marketing strategies,” Grant said.

“AI holds immense potential for African small and medium-sized businesses SMBs, enabling them to drive innovation, increase efficiency, and unlock new levels of economic growth.

“The Hustle Academy has supported over 10,000 businesses who have gone ahead to raise funding and create jobs since inception.

“By incorporating AI into our curriculum, we aim to further amplify this impact, equipping SMBs to harness AI technologies for improved business performance and economic progress,” Grant emphasized.

She added that applications for the 2024 Hustle Academy cohort are open to SMBs in Kenya, Nigeria, and South Africa.