Equity financing best option for fintech firms to fund expansion
Equity financing helps companies raise money to fund their working and expansion capital needs via stock issuance.
Mohamed Alaa El-Din
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TE establishes Egypt’s first international data centre
Despite exceptional circumstances and economic repercussions imposed by COVID-19 pandemic, TE was able to implement project
Communication services complaints rise to 51,300 in 3Q 2020: NTRA
47% of complaints related to ADSL services, whilst 22% were made for fixed-lines
ITIDA holds forum on digital transformation role in sustaining business growth
The forum sessions introduced digital transformation tools, and the pivotal role digital transformation plays in sustaining the growth of business. It can also be used to maintain the highest rates of performance, through a number of experts in the field of software.
CIT Minister meets startup founders to define obstacles facing sector
Young founders of startups review their entrepreneurial experiences in various CIT disciplines
Marj3 edtech platform raises seed funding from Expert DOJO
Startup initially connecting Arab youth to educational opportunities worldwide, and has seen significant growth during pandemic
Google supports Egypt’s digital transformation with $9m training programme
The training programmes are expected to help more than one million companies and individuals learn digital skills and develop their businesses before the end of 2021.
LG aims to export 70% of its Egypt-manufactured products
Kim added that the remaining 30% of these locally manufactured products will be directed to local consumption.
Drivu announces expansion after raising $1m in investments
Drivu is also distinguished by its facility to design a special service for each merchant in line with the nature of his work and his products.
DETGD to launch retail automation initiative in January 2021
The initiative’s first phase will take place in cooperation with the Information Technology Industry Development Agency (ITIDA) and a number of banks working in the local market.
Egypt, France discuss joint cooperation on AI, entrepreneurship
The two ministers discussed ways to enhance Egyptian-French cooperation in a number of communications and information technology (CIT) fields. The talks focused particularly on capacity building, providing support for entrepreneurship, as well as research and development in the field of artificial intelligence (AI).
NTRA receives $1.2bn bids for new mobile frequencies
According to an NTRA source, Vodafone submitted a bid to obtain a 40 MHz package, while Telecom Egypt (TE) requested a 20 MHz package.
12.4 million cyber-threats addressed in Egypt in H1 2020: Trend Micro
The report also revealed that Trend Micro solutions blocked nearly 1 million URL links, preventing users from accessing them.
Egypt Post announces new controls for sending, receiving parcels
The decision comes in accordance with Ministerial Resolution No 749 of 2020, regarding the Egypt Post’s full compliance with national legislation on combating money laundering and financing terrorism.
ASRT, CIT launch second edition of Ibdaa incubator
The incubator, which has received EGP 2.5m in funding from ASRT, is one of the leading incubators specialised in technological innovation and digital transformation.
CIT, Agriculture Ministers discuss using AI technologies in developing Egypt’s agricultural sector
ElKosayer emphasised that the cooperation with the Ministry of Communications and Information Technology includes the development of his ministry’s electronic portal. This reflects the efforts the Ministry of Agriculture is undertaking, as well as the activities and services it provides to citizens.
Egypt sees 26% increase in domestic tourism searches during summer: BCG
The report, entitled “The Measures Tourism Marketing Companies Must take in light of COVID-19”, was launched by BCG in cooperation with internet search platform Google.
TE, Vodafone submit financial offers for new frequencies
Orange and Etisalat have refrained from the bidding process
NTRA to offer Egypt mobile companies new frequencies via auction
The source added that the new frequencies will be offered to Vodafone, Orange, Etisalat, and We in the form of an auction.
CIT Ministry, Alexandria University cooperate on applied research projects using technology
The projects are aimed at using the latest communication and information technologies (CIT) to develop innovative solutions to solve practical issues in vital areas such as health and agriculture.
TE considers Vodafone Egypt acquisition as banks willing to finance deal
Should the deal be sealed, TE would merge WE with Vodafone Egypt
Future of STC acquisition of Vodafone Egypt hangs in the balance
Despite acquisition MoU coming to end, fate of possible deal has yet to be decided
STC announces no deal in Vodafone Egypt acquisition
“An understanding has been reached between STC and Vodafone Group to keep the dialogue open,” the Saudi company added.
Negotiations ongoing to complete STC deal in near future: Vodafone
Deal on STC’s 55% acquisition of Vodafone Egypt fell through due to MoU’s expiration
E-commerce platforms in Egypt launch ‘Back to School’ offers, discounts
Discounted products include stationery and electronic devices
Home computer sales surge 15% due to COVID-19: FEDCOC
Most sales took place via Internet during first three months of 2020
ADSL usage increases 92% during summer, 45% in peak hours: NTRA
Mobile Internet usage increased by 12% in summer months
Vodafone Egypt franchises some stores, but keeps main branches
Move comes as potential STC takeover of Vodafone International Group’s stake in Egypt operations remains undecided
Nahdet Misr develops AI-powered ‘Al Adwaa’ educational app
Company sees 79% increase in website traffic over past academic year due to COVID-19
B2B e-commerce Fatura aims to deploy technology in local trading
Fatura plans to gather 30,000 wholesalers from 15 governorates in its network within two years: Founder Hossam Ali