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Biz Bahrain
29-04-2025
- Business
- Biz Bahrain
StartUp Bahrain Weekend concludes its fourth edition and celebrates Bahraini entrepreneurship by awarding the top three innovative teams with Tamkeen's Support
StartUp Bahrain, the leading platform for startups in the Kingdom of Bahrain, supported by the Labour Fund (Tamkeen) and in strategic partnership with Brinc, Spring Ventures, General Assembly Bahrain, Reboot Coding Institute and ordable/, has wrapped up the fourth edition of StartUp Bahrain Weekend, which took place during a weekend from 24th April to 26th April 2025, at Bahrain Polytechnic. The highly anticipated event was made possible thanks to the support of notable sponsors and ecosystem enablers including; Bahrain Polytechnic, Bahrain Institute of Banking and Finance (BIBF), American University of Bahrain (AUBH), Ahlia University, Calo, Mama Joz, Al Anwar Discount Center, Infinigence Consulting, Etar Productions, and Nadher Media. Over the course of 54 electrifying hours, more than 200 developers, designers, marketers, and founders came together under one roof to ideate, build, and launch startups—transforming ideas into MVPs in record time. All participants competed for a total prize pool of BHD 3,000 with additional surprise perks from partners and stakeholders to celebrate their innovation and drive. The event's judging panel featured top-tier industry leaders, including: Marwa Eleskafi, Director – Programs Design and Development at Tamkeen, Husain Haji, Managing Director of Brinc MENA, Hamad Alfahad, Executive Director and MP of Tajawoz, Hasan Haider, Founder and Managing Partner of Plus VC, and Abdulrahman A Alkooheji, Founding Partner and Managing Director of Nadher Media. This year's awards went to three standout teams: WISHD that secured first place for their platform that allows saving products from anywhere with a click, a barcode scan, or photo so that the products are organized into smart lists. Akeed, which claimed second place, is a secure identity and communication platform built for banks, governments, insurance and healthcare institutions. In third place, SIGNify, presented a pair of smart AR glasses that helps hard-of-hearing individuals to communicate in real time. 'StartUp Bahrain Weekend was one of the most inspiring and high-pressure experiences I've ever had,' said Sawsan Haider, founder of WISHD. 'We walked in with an idea and left with a functioning prototype, mentorship from industry leaders, and a renewed sense of purpose. This platform doesn't just empower startups—it ignites them. We're super grateful to StartUp Bahrain, Tamkeen, and all the sponsors who made this event possible.' Additionally, Husain Sabba, founder of Akeed and recipient of the second prize, expressed his gratitude for the entire experience and opportunity to present and work on his idea, saying: 'This is my second win with StartUp Bahrain Weekend, and it was a truly remarkable experience in every sense. The Weekend event serves as a powerful occasion for startups to grow, evolve, and achieve ambitious goals. We are excited to continue our innovative efforts.' The third-place winner, Omar Saba, founder of SIGNify, expressed his pride in this achievement, expressing that participating in StartUp Bahrain Weekend marked a significant turning point, adding: 'We are grateful for the recognition and support from mentors and judges, and we hope this will be the beginning of a journey toward even greater success.' As a surprise announcement, NervaGrid was awarded the General Assembly Choice Award in recognition of its innovative platform that assesses companies' governance data quality and AI maturity, aligned with global standards such as ISO, the EU AI Act, the Digital Bahrain Act 2024, Personal Data Protection Law (PDPL), and General Data Protection Regulation (GDPR). To explore more from StartUp Bahrain and stay up to date on upcoming initiatives, visit or check out future opportunities at
Zawya
02-03-2025
- Business
- Zawya
Valu closes its 14th securitized bond issuance, worth EGP 463.3mln
Cairo: Valu, MENA's leading universal financial technology powerhouse, announced today that it has finalized its 14th securitized bond issuance, worth EGP 463.3 million, with EFG Hermes, an EFG Holding company and the leading Investment Bank in the Middle East and North Africa (MENA). The issuance is the fourth under the newly approved securitization program, which is worth a total of EGP 16.0 billion. The bond is backed by a receivables portfolio assigned to EFG for Securitization, the issuance's special purpose vehicle (SPV), with a 12-month bond, a Prime 1 (sf) rating, and a fixed interest rate. Shokry Bidair, CFO of Valu, commented, 'This issuance marks another milestone in our strategic partnership with EFG Hermes as we continue to strengthen our capital structure and fuel our expansion plans. Accessing diversified funding avenues through securitization enables us to further scale our offerings, deliver cutting-edge solutions to our customers, and sustain our leadership position in the fintech space.' Maie Hamdy, Managing Director - Debt Capital Markets at EFG Hermes, added, 'Building on the momentum from last year, where we successfully closed Valu's 8th to 13th securitizations, this first issuance of 2025 reaffirms our strong track record in executing complex transactions that cater to our clients' evolving needs. Our continued collaboration with Valu underscores EFG Hermes' leadership in structuring and delivering strategic financing solutions that support the rapid growth of Egypt's fintech sector.' EFG Hermes served as the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger on the issuance. Suez Canal Bank acted as the issuance's underwriter and placement agent, and Arab African International Bank (AAIB) acted as the custodian bank. Arab Banking Cooperation (ABC) and others were the subscribers to the issuance. Dreny & Partners was the legal advisor, and Baker Tilly was the auditor. About Valu: Valu is the leading universal financial technology powerhouse offering customers and businesses convenient and comprehensive financial solutions. Under its product universe, Valu pioneered Buy-Now, Pay-Later (BNPL) solutions in the MENA region through U, providing customizable financing plans for up to 60 months across more than 8,500 stores and online platforms – covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. Valu also offers investment products, an instant cash redemption program, savings solutions, and a financing solution to facilitate the purchase of big-ticket items up to EGP 60 million in the luxury space through the AZ Valu fund and EFG Hermes ONE, Sha2labaz, Akeed, and Ulter respectively. In addition, Valu offers business-to-business solutions through Valu Business. Valu had recently introduced its prepaid card and co-branded credit card in collaboration with Visa. As an award-winning fintech player in the MENA region, Valu embraces a progressive mindset with an agile workforce committed to architecting innovative financial solutions. About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, PayTabs Egypt, a digital payment platform, Bedaya for mortgage finance, Kaf for insurance, Fatura, a technology-backed B2B marketplace and EFG Finance SMEs which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria | Learn more about us at For further information, please contact: May El Gammal Group Chief Marketing & Communications Officer of EFG Holding melgammal@ Omar Salama Senior Communications Manager of EFG Holding osalama@ The EFG Holding Public Relations Team PublicRelations@ Note on Forward-Looking Statements In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management's expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding's belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management's control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
