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Fintech News ME
10-07-2025
- Business
- Fintech News ME
MENA Startup Funding Falls to $52M in June
Startup funding across the MENA region dropped sharply in June 2025, with only US$52 million raised across 37 deals. This marks an 82% decline compared to May and a 55% decrease year on year. The downturn was further reflected by the fact that 40% of this capital came through debt instruments, suggesting increasingly cautious investor sentiment amid ongoing global economic uncertainty. The UAE regained its position as the region's top-funded market, with 13 startups raising US$37 million, accounting for more than 70% of the capital deployed during the month. This represented a shift from May, when Egypt led the region. Egypt came in second in June, raising US$6.2 million across six deals, according to Wamda. Tunisia entered the top three for the first time, propelled by a single deal. Kumulus, a water generation startup, secured a US$3.5 million seed round. This pushed Tunisia ahead of Saudi Arabia, where six startups raised a total of US$3 million. The figure marked a significant drop for one of the region's more active startup ecosystems. Fintech remained the dominant sector, attracting 74% of the month's total capital across ten deals. Cleantech followed, thanks entirely to Kumulus, while the Web3 sector attracted US$2 million across two rounds. Most of the funding, excluding debt-based deals, went to early-stage companies. Seed-stage startups secured US$10.6 million across 11 rounds, followed by US$5 million in pre-seed funding distributed among eight transactions. Only one Series A deal was recorded, valued at just US$100,000, highlighting a continued lack of growth-stage funding. Startups with business-to-business models attracted the bulk of capital, receiving 78% of total funding across 21 deals. Hybrid B2B2C models followed with US$9.7 million across five deals, while business-to-consumer startups raised under US$1.5 million across eight rounds, reflecting sustained investor interest in enterprise-oriented ventures. In terms of gender representation, mixed-gender founding teams raised 45% of the total capital, though this was concentrated in only four deals. Twenty-seven all-male teams secured US$28 million, while six women-led startups raised US$223,200. Although the presence of mixed-gender teams is notable, the overall numbers underscore the persistent underrepresentation of female-led and mixed teams in the region's funding landscape. The figures from June represent one of the most significant monthly declines in startup funding for the first half of 2025. The slowdown appears to be part of a broader recalibration of the MENA startup ecosystem, likely shaped by seasonal effects, valuation corrections, and constrained global liquidity.
The Star
09-07-2025
- Climate
- The Star
Feature: A glimpse into Sudanese life amid scorching summer heat
KHARTOUM, July 9 (Xinhua) -- It was 2 p.m. in a displacement camp on the outskirts of Port Sudan, where the relentless sun had already pushed the mercury past 45 degrees Celsius. Inside a battered tent, its fabric frayed and threadbare, 70-year-old Sadia Abdel-Faraj's frail body shivered -- not from cold, but from the oppressive heat, which has seeped through large swaths of the war-torn country. Her daughter, Wamda, presses a damp cloth to her skin while her granddaughter fans her with a hababa, a traditional palm-frond fan. Yet, the air was so scorching that the breeze from the hababa seemed to burn as well. "I suffer from high blood pressure and diabetes," Abdel-Faraj told Xinhua, struggling for breath. "With no electricity, we rely on soaked cloths and the hababa to survive this unbearable summer." She has stopped using insulin, essential for managing her diabetes, because without refrigeration, it spoils. "I tried using ice packs, but it didn't work," she said. "My mother's temperature has been high since yesterday. The tent, made of fabric and plastic, supported by iron poles, traps the heat and reflects it back like a fire," Wamda, the woman's daughter, told Xinhua. In Khartoum, Sudan's capital, the ongoing heatwave has intensified the daily hardships for residents, who are already coping with frequent power outages and severe shortages of electricity and water. In the Al-Inqaz neighborhood in southern Khartoum, 47-year-old Ethar Ahmed sits on a simple wooden bed, wetting her clothes -- a traditional way to cope with the sweltering heat. "Life here is suffocating. No electricity, no water, no air conditioners, and we cannot afford solar panels. My children suffer, some have fallen ill from the heat. Our only hope is the rainy season, which has been unusually late this year," she noted. In Al-Goled, far northern Sudan, residents describe their homes as "burning ovens." Ali Al-Zubair, a local resident, said, "This is the hottest summer in northern Sudan. We can't stay indoors during the day. We sit under trees or bathe in the river. Women hang wet mats over windows to cool the air." The Sudan Meteorological Authority warned in a statement on Wednesday that heatwaves in Khartoum, Port Sudan, and Dongola have pushed temperatures above 47 degrees Celsius amid repeated power outages. Abu Al-Qasim Ibrahim, head of the authority's Early Warning Unit, linked the heat to the intensifying Sudan "thermal low" moving north and east. "This extreme weather, driven by climate change, requires urgent official and public action," Ibrahim said. "Precautions for public health and preparation for outbreaks and extreme weather are necessary," he noted. Sudan's Ministry of Health has also warned of the possible health consequences of the heatwave. In a report issued on Tuesday, the Ministry's Emergency Operations Center announced meningitis outbreak, with 186 reported cases, including 15 deaths, across seven different states within one week. "Temperatures are rising sharply in central, eastern, and northern Sudan," environmental expert Taj El-Sir Bashir warned. "This threatens agriculture and food security, especially amid ongoing war." During the intense summer heat, the longstanding power shortages have made daily life extremely hard. Sudan experiences power outages lasting up to 18 hours each day in cities such as Omdurman, north of the capital Khartoum. According to the forecast by the authorities, Sudan's blistering heat is set to persist. The Sudanese people, already bearing the heavy toll of civil war, now face the prospect of enduring an even oppressive summer.
The National
08-07-2025
- Business
- The National
Wamda chairman criticises Shaun Maguire over Zohran Mamdani 'Islamist' comments
Fadi Ghandour, executive chairman of investment company Wamda, tells The National an apology is not enough
Al-Ahram Weekly
24-06-2025
- Entertainment
- Al-Ahram Weekly
Frida modern dance show at Al-Gumhouriya Theatre is not to be missed - Music and dance - Al-Ahram Weekly
Arab Music Institute 22 Ramsis St, Tel 02 2574 3373 Sun 29, 9pm: The Arab Music Heritage Ensemble in a repertoire of classical Arab songs. Arab Oud House (Beit Al-Harrawi) Mohamed Abdu St, behind Al-Azhar Mosque, Tel 02 2510 4174 Every Sunday, 8pm (Free entry): The Nile Troupe for Folk Instruments, founded by artist Zakariya El-Hagawy, performs dances and songs from Upper Egypt on mizmar, tabla and other traditional musical instruments. Beit Al-Seheimi Al-Moez St, Al-Darb Al Asfar Alley, Al-Gamalya District, Tel 02 2787 8865 Every Friday, 8pm (Free entry): 'Alaragouz wa Khayal Al-Zel' (The Karakouz and The Shadow Puppet), a free public performance by clowns in Al-Muaaz Street, presented by Wamda and directed by Nabil Bahgat. Cairo Opera House Gezira Exhibition Grounds, Tel 02 2737 0602/2736 0361, box office 02 2739 0132/0144 Main Hall Sat 28, 9pm: The Cairo Symphony Orchestra, conducted by maestro Ahmed El-Saedi, together with A Cappella Choir and featuring soprano Malak El-Shafie, alto Gala El-Hadidi, tenor Amr Medhat, baritone Reda El-Wakil, will perform Beethoven's Symphony No 9. Sun 29, 9pm: The Talents Development Centre's ballet class performs Giselle ballet. Mon 30, 9pm: The Cairo Opera House celebrates the 30 June Revolution. Open-Air Theatre Fri 27, 9pm: The Little Fingers Orchestra, led by maestro Ragui El-Moqadam. Small Hall Fri 27 and Sat 28, 9pm: The Cairo Opera Company performs German songs and poems. Al-Ghouri Dome 111 Al-Azhar St, Al-Ghouriya, Tel 02 2506 0227 Al-Tanoura whirling dervishes perform to live Sufi music (Performances every Sat and Wed, 7pm). Al-Gumhouriya Theatre 12 Al-Gumhouriya St, Abdin, Tel 02 2390 7707 Thurs 26, 9pm: The Modern Dance Theatre Company performs Frida show, choreographed and directed by Sally Ahmed. Mon 30, 9pm: The Talents Development Centre's Youth and Children Choir gives a concert to celebrate 30 June Revolution. Makan 1 Saad Zaghloul St, Al-Mounira, Cairo, Tel 2792 0878 Every Tuesday, 8pm: Mawawil features vocalists Hend and Sara in a repertoire of traditional music of the Nile Delta, Al Jaafra music played by Arab Tribes from Aswan and Nass Makan band. Every Wednesday, 8pm: Zar music and songs by Mazaher ensemble featuring Umm Sameh, Umm Hassan and Nour Al-Sabah. Room Art Space & Café 10 Etihad Al Mohamin, Garden City, Tel 01000 068 159 Thurs 26, 9pm: Open Mic. Fri 27, 8pm: Paranoid Eyes. Sat 28, 8pm: 'ECHOES OF THE EARTH: Folk Songs Through Time' concert features Egyptian-Canadian guitarist Ali Omar El-Farouk. Tues 1 July, 8pm: Karaoke night. Thurs 3 July, 9pm: A night of music with the singer Mahmoud Fadl and his band. The Spot mall, infront of AUC Gate 4, New Cairo Thurs 26, 9pm: Karaoke night. Sun 29, 9pm: Comedy stuff vol 17 stand-up comedy show. Thurs 3 July, 9pm: Karaoke night. Rawabet Art Space 5 Hussien Pasha El-Meaamar St. ext. of Mahmoud Bassiouny St, Maarouf, Qasr El Nil, Downtown Sat 28, 8pm: MEDIC is celebrating their 20 years anniversary in a can't miss historic show. The Progressive Rock / Metal Egyptian band was founded in 2005. El Sawy Culturewheel End of 26th of July St, underneath the 15th of May Bridge, Zamalek, Tel 2736 8881/6178/2737 4448 River Hall Thurs 26, 8pm: Singing recital by Wael El-Fashny. Sun 29, 8pm (standing): A tribute to One Direction concert by 1D Rewind band. Tues 1 July, 8pm: El Wasla band in a concert of nostalgia. Wisdom Hall Fri 27, 8pm: Cassette 90s Mon 30, 8pm: Syrian singer Majd El-Kassem. Teatro Arkan Arkan Plaza, El-Sheikh Zayed, Giza, Egypt Thurs 26, 8pm: Syrian-Armenian singer and songwriter Lena Chamamyan will give a magical concert titled Sohab (Mates). On this special night, she will launch her new album, Sohab —her first release in nearly 10 years. Tues 1 July, 8pm: NASSER, the most trending voice of the year is bringing his hits to the stage for one unforgettable night. ALEXANDRIA Alexandria Opera House (Sayed Darwish Theatre) Fouad St, Mahatat Al-Raml, Alexandria, Tel 03/486 5106 Fri 27, 9pm: The Alexandria Opera String Orchestra, conducted by maestro Sherif Mohie Eldeen celebrates the World Music Day performing great works for strings. Sweet Sound band, conducted by maestro Mounir Nasr Eldeen, performs selections of the most famous melodies and songs. Thurs 3 July, 9pm: World of Arts ballet company concert. Bibliotheca Alexandrina Chatby, Alexandria 21526, Tel (03) 4839999 Conference Centre Small Hall Fri 27, 8pm: Closing ceremony of the artistic season 'Beethoven's Ninth Symphony Classification 125 (Choral Symphony) presents a concert by Bibliotheca Alexandrina Orchestra, Bibliotheca Alexandrina Youth Orchestra, and Bibliotheca Alexandrina Choir, conducted by maestro Ahmed Farag. Sat 28, 8pm: 'Nostalgic Themes' concert features mega star Ali El-Haggar. * A version of this article appears in print in the 26 June, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:
Mid East Info
23-06-2025
- Business
- Mid East Info
UAE reinforcing its place as world-class startup hub with ecosystem built for success - Middle East Business News and Information
Tech investor and entrepreneur Abdumalik Mirakhmedov hails sustained government drive to create dynamic, pro-business landscape for founders Dubai, UAE, 23rd June, 2025: The UAE is reinforcing its position as one of the world's most attractive and secure destinations for startups, as fresh data and investor sentiment point to rising momentum across the regional entrepreneurial ecosystem. MENA startups raised a combined $289 million in May, a 25% increase from April, with a Wamda report showing that the UAE contributed $86.7 million across 14 deals. Coinciding with the announcement, the Dubai Future District Fund (DFDF) reported more than $1.65 billion in capital commitments last year, offering strategic backing to over 190 portfolio companies. UAE-based entrepreneur and tech investor Abdumalik Mirakhmedov says DFDF's influence is part of a wider, sustained effort by government authorities in the UAE that have created a dynamic, pro-business landscape appealing to both regional and international founders. 'The business environment here is phenomenal,' says Mirakhmedov, Director and co-founder of Scalo Technologies, the UAE tech venture company. 'The government has established a regulatory framework that is so comfortable, and allows startups to build with confidence. 'The country's appeal to entrepreneurs goes well beyond funding. Dubai and Abu Dhabi offer everything a startup needs to grow – access to capital, innovation infrastructure, talent, and a quality of life that's hard to beat.' Added Mirakhmedov: 'The UAE allows us communicate with more prospective partners as a global technology group focused on fast growing sectors of the digital economy.' 'Startups here have easy access to venture capital and angel investors. Accelerators, co-working spaces, and research centres help early-stage companies get off the ground, creating a fast-moving and supportive startup scene. 'Sectors like fintech, AI, mobility, and e-commerce have grown rapidly, thanks to policy reforms, long-term visas, and government-backed funds aimed at helping young companies scale.' Mirakhmedov points to both Dubai and Abu Dhabi offering the ideal setup for growth, with free zones built for tech firms, simple licensing, and no income tax all making it easier to launch and expand. 'There's also real respect here for people who succeed,' he says. 'Entrepreneurs feel welcome, and that's backed by a professional business culture and a strong sense of personal safety. As more global startups look for stable places to grow, the UAE stands out – not just for its tools and support, but for creating the right conditions to succeed.' Ends
