PayPal has announced plans to invest US$100 million across the Middle East and Africa to support entrepreneurs, foster innovation, and contribute to economic growth in the region’s digital commerce sector.
The funds will be directed through a combination of minority investments, acquisitions, PayPal Ventures initiatives, staffing, and technology deployments.
According to the company, the aim is to help local businesses expand, create opportunities for innovators, and increase access to digital services for communities and consumers.
“The Middle East and Africa are home to some of the most dynamic and rapidly evolving businesses in the world,”
said Alex Chriss, President and CEO of PayPal.
“By dedicating a US$100 million investment to this region over the coming years, we’re investing in the technologies, partnerships, and solutions that will help entrepreneurs scale faster, expand their reach beyond borders, and unlock new opportunities for growth in the digital economy.”
The announcement follows the launch of PayPal’s first regional hub in Dubai in April.
The hub is intended to provide businesses of different sizes with payment services, security measures, and access to international markets.
Featured image credit: PayPal
