Latest news with #Wadi
The Sun
03-08-2025
- Health
- The Sun
Warning to stay away from ‘Magic Mushroom' vape liquid
PETALING JAYA: A vape liquid dubbed 'Magic Mushroom' is causing such dangerous side effects that even hardened drug addicts are steering clear, warning others that one dose could trigger panic, blackouts and total loss of control. Marketed as a 'natural hallucinogen', the liquid is in fact laced with potent synthetic drugs. Users say the effects are potentially catastrophic. Speaking to theSun in a northern state, several drug users issued the same warning: 'This is not something to play with.' Even veteran addicts accustomed to methamphetamine and opioid-based drugs are sounding the alarm. Wadi, 42, who has lived with a history of substance abuse, described the effects of a single dose. 'First-time users usually feel a tightness in their chest, followed by paranoia. I have tried it, the panic was unbearable. I felt like I was dying.' According to Wadi, the high from the substance is not just powerful, it is destabilising. Users often lose control of their behaviour, experiencing temporary blackouts and erratic outbursts. 'Even for people like us who are used to drugs, we do not want to take this 'Magic Mushroom'. The high is intense, it makes your head buzz and sometimes, you cannot remember what you did.' Wadi said teenagers and school students are vulnerable due to the discreet nature of the drug. Mixed into flavoured vape liquids, it can be inhaled in public spaces, including shopping malls, without raising suspicion. A check by theSun revealed that several online vendors are selling the liquid, pricing it as low as RM1 per drop, making it accessible to youths and first-time users. Dabok, 48, a palm fruit harvester and recovering heroin addict, also admitted he could not handle the effects. 'Once you inhale it, your body shuts down. You are not in control. You do not know who you are, where you are or what you are doing. The high might only last 30 minutes, but those 30 minutes could destroy everything. 'Do not even think about driving after using it.' Despite its name, there is no link between the vape liquid and psychedelic mushrooms. According to the National Poison Centre at Universiti Sains Malaysia, which issued a public alert last August, the drug is a synthetic chemical cocktail, not a natural product. The centre warned that users could suffer from confusion, psychosis and erratic behaviour, with the potential for lasting psychological damage. In January, National Anti-Drug Agency director-general Datuk Ruslin Jusoh confirmed that 'Magic Mushroom' is a form of synthetic cannabis, processed for consumption through vaping.
Zawya
06-05-2025
- Business
- Zawya
Egypt: Money Fellows secure $13mln funding to boost financial inclusion in Africa
Arab Finance: Cairo-based fintech digital platform Money Fellows raised $13 million in a new financing round to boost financial inclusion and enable millions of individuals to access innovative and efficient financial services, according to an emailed press release. This fundraising brings the total amount invested in the company to more than $60 million since its inception. The company will use the new investment, which was co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, to improve and upgrade its digital platform. Partech and CommerzVentures also participated in the transaction to drive innovation across emerging markets. The finetch has over 350 local and regional partners, with more than 8.5 million registered users registered within its platform. Additionally, the funding round aligns with the company's growth plans to expand into new markets and drive a major shift in traditional methods of saving, borrowing, and investing. On his part, Ahmed Wadi, Founder and CEO of Money Fellows, commented: 'Money Fellows is a critical player in Africa's financial ecosystem, combining the power of community-based savings with cutting-edge fintech to create a seamless and scalable solution.' 'This investment is a testament to the potential we have to further our mission of empowering individuals, especially in underserved regions, to save, invest, and access credit in a cost-effective and impactful way,' Wadi highlighted. Mohamed Aladdin, General Partner at DPI Venture Capital, commented: 'We are excited to partner with such a visionary company on a mission to enable seamless access to financial management tools to consumers in Egypt, and look forward to seeing them expand their impact across the Middle East and Africa.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Finextra
05-05-2025
- Business
- Finextra
Egypt's MoneyFellows raises $13m for digital money circles
Egyptian fintech Money Fellows has raised $13 million for its mobile-based platform for money circles - where a group of people put funds into a pot for a specific period so that they can save and borrow together. 0 The pre-Series C round was led by Al Mada Ventures and DPI's Nclude Fund, with participation from Partech Africa and CommerzVentures. Popular in Egypt and other Arab countries under the name 'Gameya', Money Circles are also known as Rotating Savings and Credit Associations (ROSCAs). ROSCAs work by pulling together a group of people that each agree to pay a set amount of money each month for a set amount of time. Each month, one member gets that period's amount. So, if 10 people agree to pay $100 for 10 months, each month one member receives $1000. MoneyFellows digitises the process, using behavioural data, credit scores, and income tiers to connect savers and borrowers, broadening the potential pool of Money Circle partners beyond the traditional group of close friends and family. Launched in 2018, the MoneyFellows now claims over 8.5 million users and an average payout per user of around $900, helping the company hit profitability. Ahmed Wadi, CEO, MoneyFellows, tells TechCrunch: "We have managed to crack this model and reach profitability,' said Wadi. 'Doing this while lending out billions without relying on working capital at all is quite disruptive in itself."
