Fawry has entered into a partnership with CDS Solutions, Odoo’s certified Golden Partner in Egypt. The collaboration will integrate Fawry’s point-of-sale (POS) systems with Odoo’s POS platform, aiming to support digital transformation efforts and improve operational efficiency for businesses in the country. Through this partnership, medium-sized enterprises and large corporations will be able to manage payment transactions and generate financial reports within Odoo’s cloud-based business management system. Fawry will provide integrated transaction services, while CDS Solutions will act as the technical connector and support partner, ensuring implementation and ongoing service for Odoo clients across Egypt. Bassem Lotfy, Head of Business…

Startup funding in the Middle East and North Africa (MENA) fell sharply in August, with 47 startups raising US$337.5 million. The figure is down 57% from July’s record of US$783 million but remains 74% higher than a year earlier. The decline reflects a recalibration after large-scale deals in July, with August activity concentrated in Saudi Arabia and the UAE, while sector strength shifted towards property technology and construction technology. For the second month in a row, Saudi Arabia led the region, attracting US$166 million across 19 deals. The UAE followed with US$154 million raised by 11 startups. Egypt, typically among…

Cognizant, a US-based provider of information technology, consulting, and business process services, and a recognised Global Elite Partner in the ServiceNow partner ecosystem, has announced the expansion of its strategic partnership with ServiceNow, the AI platform for business transformation, into the Middle East. The expansion aims to support enterprise digital transformation through technology delivery, local expertise, and established global practices. By combining Cognizant’s industry knowledge with ServiceNow’s AI platform, the partnership seeks to offer solutions that enable regional organisations to streamline and automate operations, enhance resilience, and support growth. As part of a joint goal to build a US$1 billion…

Mastercard has partnered with Qlub, a fintech company operating in the hospitality sector, aimed at expanding digital and contactless payments across the GCC. The partnership is intended to support the adoption of technology-driven payment solutions in restaurants across the region. Under the agreement, Mastercard will provide its payment platforms and technologies to Qlub and will also make a minority investment in the company. Mastercard will process Qlub’s card-not-present transactions via Mastercard Gateway in the UAE, Saudi Arabia, Qatar, Kuwait, and Bahrain. Qlub joined Mastercard’s Start Path, a startup engagement programme, in 2023, reflecting an ongoing relationship between the two companies.…

Zand has announced the launch of ZandPay, a point-of-sale (POS) solution developed in collaboration with Transguard Group and supported by Arab Financial Services. ZandPay has been designed to help businesses manage payments more effectively, providing a combination of speed, security and flexibility. It supports a range of payment methods, including debit and credit cards, contactless options, mobile wallets, and international transactions across multiple currencies. The system is compatible with all major card providers and incorporates both chip and contactless NFC capabilities. In addition to payment processing, ZandPay offers AI-driven analytics that allow businesses to track sales patterns and customer preferences.…

While cash appears cost-free, the payment method’s true cost of acceptance in the Middle East and Africa (MEA) ranges from 1.3% to 3%, driven by direct and indirect costs, such as cash-in-transit (CIT) and shrinkage, as well as back-office costs like reconciliation, a new study by Boston Consulting Group (BCG) shows. South Africa currently faces the highest costs, largely due to elevated spending on CIT. CIT refers to specialized services used by merchants to securely transport their physical cash to and from banks, such as armored vehicles, security guards, and insurance to protect against theft, robbery, or loss. Because South…

Abu Dhabi Finance Week (ADFW) 2025, held under the patronage of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council, has announced its initial group of international speakers. The event, hosted by ADGM, will take place in the UAE capital from December 8 to 11 2025 across five flagship events. More than 300 leaders representing firms with assets exceeding US$60 trillion are confirmed to participate, surpassing the 2024 edition, which gathered firms with US$42.5 trillion in assets under management. This year’s programme will address how new technologies are shaping the…

TerraPay, a London-based money movement company, has partnered with OMT, a financial services provider in Lebanon, to introduce a cross-border payment solution designed for Lebanese businesses. The initiative aims to support local enterprises in accessing international markets and strengthening their participation in global trade. The partnership combines OMT’s national presence with TerraPay’s international network to offer businesses a secure and cost-effective payment channel that complies with international standards. Through an online portal, users will be able to make transfer requests in real time, monitor transactions, and access financial reports. “Partnering with OMT allows us to extend our vision to Lebanon’s…

Air Europa has taken a decisive step in its global growth strategy with the investment of Turkish Airlines in its capital. The agreement enhances Air Europa’s position in the international aviation market and creates new opportunities to connect continents more efficiently. A Network Bridging Europe, the Americas, and Asia Together, the two airlines now offer one of the most extensive networks in global aviation, covering more than 400 destinations across 150 countries. Air Europa contributes its strong presence in Spain, Western Europe, and Latin America, while Turkish Airlines brings its unmatched connectivity from Istanbul to Asia, the Middle East, Africa,…

Bahrain-based Khaleeji Bank has partnered with UAE-based eTijwaal App, a digital platform that provides eSIM services for travellers. The agreement is intended to give the bank’s clients easier access to mobile connectivity abroad while linking credit card usage with cashback rewards. The eTijwaal App is among the first in the Middle East to provide travel eSIMs, allowing users to instantly purchase and activate connections in more than 190 countries. By avoiding traditional roaming charges and physical SIM cards, the platform offers a more straightforward and secure way for travellers to stay connected. As part of the partnership, Khaleeji Bank credit…

Hub71, Abu Dhabi’s global technology ecosystem, has admitted its most AI-focused group of companies to date, welcoming 26 high-growth startups to its 17th cohort. Collectively, the startups have raised more than US$223 million (AED 818 million), the largest funding amount recorded for any Hub71 intake, reflecting both the scale of firms joining and investor confidence in Abu Dhabi’s role in advanced technologies. Over 80% of the selected startups are developing AI-driven solutions targeting key sectors such as health technology, financial technology and climate technology. Their entry into Abu Dhabi comes as the emirate seeks to broaden its economic base and…

Deloitte’s Digital Consumer Trends 2025 report provides insights into how consumers in the UAE and Saudi Arabia (KSA) engage with digital technology, media, and connectivity. The study surveyed 2,000 consumers aged 18–50 across both markets, highlighting rapid adoption of generative AI, the dominance of smartphones, growing interest in connected devices, and the rise of social commerce. The report shows 58% of respondents have used generative AI tools such as ChatGPT or Google Gemini, significantly higher than in the UK or Europe. Of these, 55% use AI weekly or daily for personal, educational, or professional purposes, while 20% remain unfamiliar with…

Cairo-based fintech Munify has secured US$3 million in seed funding led by Y Combinator, with participation from BYLD, Digital Currency Group, and other strategic investors. The investment follows Munify’s graduation from Y Combinator’s Summer 2025 batch, during which only a limited number of fintech companies from the MENA region were accepted in a cohort largely focused on artificial intelligence. Founded in 2024 by Khalid Ashmawy, a former executive at Microsoft and Uber and co-founder of proptech firm Huspy, Munify is developing a cross-border digital bank aimed at Egyptians living overseas. The platform provides instant, lower-cost remittances to Egypt, access to…

RAK Properties, Ras Al Khaimah’s publicly listed real estate developer, has entered into a partnership with Hubpay, an ADGM-regulated fintech, to enable international clients to purchase property using digital assets. Under the agreement, buyers can pay with assets such as USDT, Bitcoin, and Ethereum. Hubpay’s regulated platform converts the payments into UAE dirhams, which are settled directly into RAK Properties’ account. RAK Properties itself will not handle any digital assets, with all transactions processed through Hubpay and its VARA-licensed partners. The initiative applies to developments including the Mina community and is aimed at broadening the developer’s reach among digitally active…

The Dubai Multi Commodities Centre (DMCC) has signed a MoU with Swedish fintech firm Vermiculus to explore cooperation on financial technology solutions. The agreement supports DMCC’s wider plans to expand its technology strategy and strengthen Dubai’s role in trade and finance. The partnership will focus on the deployment of systems for exchanges, clearing houses and central securities depositories, including joint projects and knowledge-sharing initiatives. DMCC, which oversees the Dubai Gold and Commodities Exchange (DGCX) and the Dubai Commodities Clearing Corporation (DCCC), said the collaboration forms part of its efforts to integrate advanced technologies, including artificial intelligence, into its operations. Vermiculus,…

Egypt’s incentivised goal-based investment platform, PALM, has officially launched following the closure of its pre-seed funding round led by 4DX Ventures, with participation from Plus VC and a group of international angel investors. The company has obtained a Portfolio Management License from the Financial Regulatory Authority (FRA), allowing it to directly manage investments for retail clients. This milestone supports PALM’s strategy to offer individuals a solution for saving, growing, and accessing their funds with flexibility and personalisation through the PALM application, now available on major app stores. PALM’s products provide daily competitive yields with no deposit, withdrawal, or transaction fees.…

Saudi Arabia’s Capital Market Authority (CMA) has invited relevant stakeholders in the capital market to provide feedback on the draft regulation permitting capital market institutions to offer robo-advisory services. The consultation period will last 30 calendar days, ending on September 24 2025. The draft regulation aims to allow licensed capital market institutions engaged in investment management, or in investment management and fund operation, to provide robo-advisory services. These services would use algorithms and modern technological tools to manage client investments according to pre-defined strategies. The initiative aligns with the CMA’s objectives to support fintech, improve market efficiency, and expand the…

As stablecoins continue to address practical challenges and improve efficiencies across different use cases, Mastercard and Circle are expanding their partnership to enable settlement in USDC and EURC for acquirers in Eastern Europe, the Middle East, and Africa (EEMEA). This initiative marks the first time the acquiring ecosystem in EEMEA will be able to settle transactions in stablecoins, connecting blockchain-based assets with traditional commerce infrastructure. Arab Financial Services (AFS) and Eazy Financial Services will be the first acquirers to adopt the settlement option. The arrangement will allow institutions to receive settlement in USDC or EURC, fully reserved stablecoins issued by…

Following the success of MongoDB Day in Dubai earlier this year and the announcement of its strategic partnership with MoroHub, MongoDB is expanding its presence across the Middle East and Africa. The company has reported steady growth in customer adoption and regional hiring, underlining its commitment to supporting digital transformation across both public and private sectors. Since February, MongoDB has added several key roles to strengthen its regional operations, including a Solutions Architect, Customer Success Manager and Partner Specialist based in Dubai. It has also appointed a new Vice President of Professional Services for EMEA to enhance customer support capabilities.…

ADGM, ADGM Academy (ADGMA), the Technology Innovation Institute (TII), Hub71, and ASPIRE have jointly launched the UAE’s first testbed for quantum-secure communications, aimed at strengthening the resilience of digital infrastructure. The initiative will examine how quantum technology can be used to transfer data with enhanced security. As part of the collaboration, TII, the applied research arm of Abu Dhabi’s Advanced Technology Research Council (ATRC), has deployed its proprietary Quantum Key Distribution (QKD) solution within ADGM, the capital’s international financial centre. The deployment establishes the first test network of its kind in a commercial environment. Designed as a “living lab,” the…