Author: Akin Naphtal

The Communications, Space and Technology Commission (CST) held the “ICT Indicators Forum 2023” in Saudi Arabia under the patronage of Eng. Abdullah Al-Sawaha, Minister of Communications and Information Technology and Chairman of the Board of Directors of the CST. During the forum, the CST announced that the value of the ICT market in the Kingdom of Saudi Arabia reached SAR154 billion in 2022, making it the largest and fastest-growing digital economy in the MENA region. Dr. Mohammed Al-Tamimi, Governor of the CST, revealed that the Kingdom of Saudi Arabia’s total capital investment in digital infrastructure exceeded SAR93 billion over the…

Vodafone Group Plc has announced that it has completed the sale of 50% of its German Fibre-to-the-Home company to Altice. The creation of the JV received European Commission approval last month. FibreCo will deploy fibre-to-the-home to up to 7 million homes in Germany over a 6-year period. Over the roll-out period, FibreCo intends to invest up to c.€7 billion, which will be partly financed by debt that will be non-recourse to Vodafone and Altice. Total debt facilities of up to €4.6 billion have been arranged with a group of leading financial institutions to support the network deployment. READ ALSO:Taly Launches…

Taly, a digital payment and collection solutions provider, has launched its ecosystem in the Egyptian market with a total investment of more than EGP 500 million. The company will provide seamless solutions to banks, corporates, merchants, fintechs and consumers through a large on-soil infrastructure in the MENA region. Taly aims to be the strategic catalyst for digital transformation in the Egyptian market and to export its innovative solutions to the region. Magdy Hassan, the CEO of Taly, expressed his commitment to empowering stakeholders by providing state-of-the-art digital payment solutions, tailored to the specific needs of each stakeholder. He also emphasized…

Investopia, the global investment platform, announced the launch of “The Council” during its annual conference held in Abu Dhabi from 2nd to 3rd March 2023. The Council is the first exclusive gathering of the most influential fintech leaders and experts in the Middle East and North Africa region. The MENA Fintech Association announced the launch of The Council, which fosters collaboration and exchange of ideas among fintech leaders in the MENA region, to share their insights and collaborate on initiatives that will shape the future of the industry. “We are thrilled to launch The Council during Investopia 2023 and to…

In a recent announcement, Al Moammar Information Systems Company (MIS) revealed that it has secured a project contract worth SAR 49.64 million with the Board of Grievances. The deal aims to enhance the sustainability and operation of electronic services and ensure the readiness and stability of systems, as well as uninterrupted electronic services to users. The Saudi Board of Grievances, represented by the General Department of Information Technology, aims to ensure high efficiency in the work of systems, applications, devices and network infrastructure. MIS stated that the contract aligns with the government body’s objectives to meet business requirements quickly for…

King Abdullah University of Science and Technology (KAUST) in Saudi Arabia has partnered with Global Data Hub (GDH) to launch a commercial tier-III data centre. The new 27,600 square metre facility will have 8,000 square metres of white space and a minimum capacity for its customers of 14.4 MW IT load. It will be located at the KAUST Research and Technology Park and cater to the regional data centre requirements within Saudi Arabia while also providing cloud services. KAUST will be the first university in the region to have a commercial tier III data centre on its premises. This development…

Roku and Best Buy have entered into a partnership to collaborate on advertising and consumer data and to offer exclusive access to Roku-branded TVs. For Best Buy, it marks the first time that it has partnered with a TV streaming platform to share its first-party sales data. The partnership will allow Roku to leverage Best Buy’s data to target advertisements. The companies assert that combining the data will make TV advertising more performance-driven, with brands able to target, optimize and measure their ads on the streaming platform using Best Buy shopper data. Julian Mintz, co-head of U.S. brand sales for…

The Central Bank of Egypt (CBE) has signed an appendix to its 2004 Memorandum of Understanding (MoU) with the Central Bank of Jordan to enhance cooperation in the areas of banking supervision, electronic payment systems and services and financial technology activities. The MoU aims to reinforce cooperation and explore new horizons between the two countries, reflecting the efforts of CBE to promote the transition to a society less dependent on banknotes. Gamal Negm, Deputy Governor of CBE and Khaldoun Al-Wishah, Deputy Governor of the Central Bank of Jordan, signed the MoU at the headquarters of CBE in Cairo in the…

The Egyptian government is reportedly considering a collaboration with Visa, the US-based financial services corporation, to accelerate the digitalization of payments in the country. A delegation from Visa recently met with Ahmed Kamali, the Deputy Minister of Planning and Economic Development, to discuss potential cooperation. According to a statement from the ministry, the discussions took place within the context of Egypt’s Sustainable Development Strategy (SDS) 2030. READ ALSO:Fintech Saudi hosts largest financial technology recruitment fair in the region, showcasing over 600 job opportunities Bungoma Deputy Governor Urges Women to Embrace Digital Technology for Empowerment and Equality Envisics secures over $50…

The “Fintech Saudi” initiative has successfully concluded the largest financial technology recruitment fair in the region, which was held in Riyadh from March 6 to 7, with more than 50 financial technology companies, banks and entities participating. The fair showcased more than 600 job opportunities in the field. The aim of the initiative was to support the growth of the financial technology sector in the Kingdom by qualifying and empowering national Human Resources, especially fresh graduates and those with experience seeking work, by providing them an opportunity to meet leading institutions in the field of financial technology and compete for…