Latest news with #الشرق_الأوسط
bnok24
10-08-2025
- Business
- bnok24
EFG Hermes Advises MDP on a New Investment Led by Lorax Capital Partners
مصطفى جاد، رئيس قطاع الترويج وتغطية الاكتتاب في إي اف چي هيرميس EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its Investment Banking division has successfully concluded a landmark sell-side advisory role, marking the exit of a consortium led by AfricInvest from Masria Digital Payments (MDP), the region's leading payments technology infrastructure provider The transaction marks the complete exit of AfricInvest from MDP through the sale of their stake to a distinguished investor consortium led by Lorax Capital Partners (LCP) and backed by global development finance institutions including the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and Proparco This milestone builds on EFG Hermes' continued partnership with MDP, following its original advisory role in 2020 on the investment of AfricInvest into the company. This deal catalyzed MDP's transition into a digitally driven, regional fintech powerhouse. The transaction underscores EFG Hermes' Investment Banking Division's expertise and proven track record in advising on landmark deals within the payments sector, further cementing its position as a leading advisor in the region MDP has since evolved into a market leader in integrated payments infrastructure, delivering card issuing, processing, and cloud-native digital solutions to over 200 banks and 60 fintech players across the MENA region. With over 1 billion transactions processed and more than 350 million cards issued, MDP is a key enabler of financial inclusion and digital transformation across emerging markets Mostafa Gad, Global Head of Investment Banking at EFG Hermes, said, 'Our work with MDP is a prime example of how EFG Hermes continues to deliver strategic, long-term value to clients operating at the intersection of finance and technology. From the entry of AfricInvest in 2020 to this landmark exit in 2025, we've been proud to serve as a trusted partner in a journey that has seen MDP scale into a regional fintech champion. This transaction reaffirms our leading position in advising high-impact digital infrastructure deals across MENA and Africa Ahmed Nafie, Co-Founder and CEO of MDP, commented on the partnership, 'This transaction marks a pivotal moment in MDP's journey. EFG Hermes has been a key advisor to MDP since 2020, when it supported the entry of AfricInvest into the company. Their deep knowledge and consistent support over the years have been instrumental in helping us attract strategic investors and navigate major milestones. This transaction reflects the strong foundation we've built together and sets the stage for continued growth and innovation in digital payments across the region Ismail Talbi, Senior Partner at AfricInvest, stated, 'Our partnership with EFG Hermes has contributed to the success of our investment in MDP. Their guidance during our entry in 2020, and again through this exit, reflects a deep understanding of both the payments space and the regional investment landscape. Their role has been key in driving a successful exit and reinforcing MDP's position as a fintech leader in the MENA region Google News تابعونا على تابعونا على تطبيق نبض جاري التحميل ...
Khaleej Times
10-08-2025
- General
- Khaleej Times
Watch: UAE aid convoys deliver over 4,500 of tonnes of relief to Gaza over two weeks
Ten convoys loaded with Emirati humanitarian aid crossed over the past two weeks into the Gaza Strip through Egypt's Rafah Crossing, as part of the UAE's efforts to support and assist the Palestinian people. This comes as part of the 'Operation Chivalrous Knight 3'. The convoys consist of 214 trucks carrying more than 4,565 tonnes of humanitarian aid, including food supplies, equipment, and pipes for desalination plants. Watch the video below. ضÙ�Ù� عÙ�Ù�Ù�Ø© #اÙ�Ù�ارس_اÙ�Ø´Ù�Ù�3.. 10 Ù�Ù�اÙ�Ù� Ù�ساعداذ Ø¥Ù�اراذÙ�Ø© (214 شاØÙ�Ø©) ذعبر Ø¥Ù�Ù� #ذزة Ø®Ù�اÙ� اÙ�أسبÙ�عÙ�Ù� اÙ�Ù�اضÙ�Ù�Ù�Ø� Ù�ØÙ�Ù�Ø© بأÙ�ثر Ù�Ù� 4565 Ø·Ù�ا Ù�Ù� اÙ�Ù�Ù�اد اÙ�ذذائÙ�Ø© Ù�Ù�عداذ Ù�Ù�Øطاذ اÙ�Ø°ØÙ�Ù�Ø©Ø� Ù�Ù�ذخÙ�Ù�Ù� Ù�Ù� Ù�عاÙ�اة اÙ�أشÙ�اء اÙ�Ù�Ù�سطÙ�Ù�Ù�Ù�Ù� #Ù�اÙ� — Ù�Ù�اÙ�Ø© Ø£Ù�باء اÙ�Ø¥Ù�اراذ (@wamnews) August 10, 2025 Stay up to date with the latest news. Follow KT on WhatsApp Channels. The Emirati humanitarian aid team stationed in the city of Al Arish oversees the precise loading of the aid, monitors its delivery through the Rafah Crossing, and ensures it reaches the Gaza Strip. Continuous aid On March 31 this year, the UAE marked 500 days of continuous humanitarian relief under the operation, delivering over 65,000 tonnes of food, medical, and relief aid — valued at more than US$1.2 billion — through land, sea, and air routes. With its tri-modal delivery system, by land, sea, and air, the initiative has enabled UAE humanitarian aid to constitute 44 per cent of total international aid to Gaza to date, according to UN reports. Steadfast position Earlier this week, the UAE strongly condemned the Israeli government's decision to occupy the Gaza Strip, warning of its catastrophic consequences. In a statement by the UAE Ministry of Foreign Affairs (Mofa), the country also stressed its outright rejection of any infringement on the inalienable rights of the Palestinians or attempts to displace them.
LBCI
07-08-2025
- Politics
- LBCI
Minister Fadi Makki on cabinet session walkout: Tried to bridge gaps but left due to key absence
Minister Fadi Makki said he tried from the start to bridge gaps and bring all parties closer, but was unsuccessful. He explained that he left the cabinet session after his colleagues walked out, saying the decision was not easy, but he could not bear the responsibility of making such a major decision without a key faction present in the discussion. Despite this, Makki emphasized that any objection or reservation must be recorded within constitutional frameworks and at the cabinet table. He expressed hope that everyone would return to the dialogue table to continue discussions with full participation, ensuring national consensus and shared responsibility. موقف صعب! حاولتُ منذ البداية العمل على تضييق الفجوات وتقريب وجهات النظر بين جميع الأطراف، لكن لم انجح. غادرت الجلسة بعد مغادرة زملائي ولم يكن القرار سهلًا، لكنني لم أستطع تحمّل مسؤولية اتخاذ قرار بهذا الحجم في ظل غياب مكوّن أساسي عن النقاش. رغم ذلك، ما زلتُ على موقفي بأن أي… — Dr. Fadi A. Makki (@makkifadi) August 7, 2025
Arabian Business
05-08-2025
- Business
- Arabian Business
Saudi Arabia's Mukaab megaproject to get smart tech from PIF-backed firms in new deal
Two Saudi companies backed by the Public Investment Fund (PIF), New Murabba and Alat, have signed an agreement to work together on new technology for The Mukaab and other smart city projects planned in Riyadh's New Murabba district. The agreement focuses on the deployment of next-generation innovations aimed at delivering an immersive and intelligent experience for visitors and residents. Among the areas of collaboration are cutting-edge digital environments, AI-driven infrastructure, and advanced vertical mobility systems, including future-ready elevators and escalators. يسعدنا الإعلان عن توقيع مذكرة تفاهم جديدة مع شركة ألات، في خطوة جديدة نحو دمج أحدث التقنيات داخل #المكعب وفي المشاريع المستقبلية ضمن نطاق #المربع_الجديد ، سنعمل معًا لتقديم تجارب رقمية رائدة، واستكشاف فرص توطين الإنتاج التقني داخل المملكة، وتعزيز الابتكار بالتناغم مع مستهدفات… — New Murabba (@newmurabba) August 1, 2025 'This MoU marks a major milestone in our journey to deliver New Murabba and The Mukaab,' said Michael Dyke, CEO of New Murabba. 'Our partnership with Alat underscores our commitment to harnessing next-generation technologies that deliver exceptional experiences and support the creation of a smart urban destination.' The Mukaab is the centrepiece of the planned New Murabba development in Riyadh — a cube-shaped, immersive mixed-use structure touted as one of the most ambitious architectural projects in the Kingdom. In line with Saudi Arabia's Vision 2030, the agreement also seeks to identify optimal strategies for funding early-stage hardware investments and R&D. The two companies will assess the feasibility of establishing technology production facilities within the Kingdom to support localisation goals and deliver resilient, scalable hardware solutions. 'The MoU with New Murabba marks a bold step toward shaping the future of tech-enabled urban living,' said Amit Midha, CEO of Alat. 'By uniting Alat's AI-driven hardware with New Murabba's visionary approach, we aim to deliver intelligent infrastructure and transformative experiences.' The agreement also includes plans for long-term operational support, including post-installation upgrades, maintenance protocols, and warranty management for integrated systems. The collaboration reflects a broader PIF strategy to position Saudi Arabia as a global hub for future-facing technologies, economic diversification, and sustainable urban development. Both firms described the deal as a strategic move toward building a world-class smart city ecosystem, with The Mukaab envisioned as a 'Gateway to Another World.'
Arabian Business
04-08-2025
- Health
- Arabian Business
UAE health ministry completes second phase of adopting ‘Zero Government Bureaucracy'
As part of the UAE government's 'Zero Government Bureaucracy' programme, the Ministry of Health and Prevention (MoHAP) said it has successfully restructured a series of key services, reducing their number by 50 per cent. This is Phase II of MoHAP's effort to align with the UAE programme, which aims to create a government free of unnecessary complexity, with faster, simpler, and more effective services that enhance quality of life and boost institutional efficiency. سمعنا الجميع باهتمام. وعقدنا الورش التشاركية. ووظفّنا أحدث التقنيات. لنصل إلى خدمات رقمية أسهل، وأسرع، وأبسط، وأكفأ، تلبّي احتياجاتكم وتفوق توقّعاتكم. #وزارة_الصحة_ووقاية_المجتمع_الإمارات #تصفير_البيروقراطية #خدمات_سهلة_وسريعة #خدمات_أكثر_كفاءة_وسهولة … — وزارة الصحة ووقاية المجتمع – MOHAP UAE (@mohapuae) August 3, 2025 UAE's Zero Bureaucracy success continues In this phase, the Ministry adopted a human-centric roadmap that placed customer experience at its core. Key elements included streamlining service procedures, reducing documentation, eliminating redundant requirements, and integrating digital systems to reduce the number of smart apps in use. The Ministry also focused on minimising time, cost, and effort for service users while enhancing interoperability with partner entities to facilitate seamless data exchange and faster access to services. A package launched by MoHAP during this phase included licensing and accreditation services for healthcare professionals and facilities, in which they cut the number of services from 32 to just 16. The overhaul has significantly reduced processing times, improved operational efficiency, and strengthened alignment with the programme's overall objectives. To assess the impact of these improvements, MoHAP conducted surveys and user experience studies, and used suggestions from both the internal teams and proactive service users. These efforts align with the programme's target of achieving 100 per cent elimination of digital bureaucracy by providing streamlined, complexity-free services and modernised systems. MoHAP stressed that it's committed to supporting the UAE Government's vision of building a more agile and proactive model, one that anticipates needs, offers innovative solutions, and delivers fast, efficient, and tangible results for every customer. Benefits both citizens and businesses Dr Mohammed Salim Al Olama, Undersecretary of the Ministry of Health and Prevention, said these improvements will meet the expectations of citizens, as well as businesses. 'Our approach aligns perfectly with the government's flexible and forward-looking model for service delivery. It supports sustainable development, strengthens the UAE's global competitiveness, and is built on innovation, stakeholder engagement, and the empowerment of high-performing teams through advanced digital tools and AI integration,' said Dr Al Olama. 'The Ministry achieved remarkable results in the first and second phases of the programme by engaging various segments of society, partners, and internal teams. We adopted a proactive approach to enhance services, streamline procedures, and improve operational efficiency, making them more accessible and user-friendly. Abdullah Ahli, Acting Assistant Undersecretary for the Support Services Sector and Leader of the Zero Government Bureaucracy Team at MoHAP, emphasised the participatory nature of the Ministry's approach. 'Our service redesign efforts align with Phase II of the Zero Government Bureaucracy programme,' Ahli explained. 'We adopted a co-design methodology through workshops that involve stakeholders from the healthcare sector and customers themselves. By analysing the user experience, we ensured the new services are smoother, less costly, and more results-oriented, while eliminating unnecessary procedures and requirements to maximise satisfaction and customer happiness.' Future packages Ahli said the Ministry is in the process of launching additional packages of redesigned services, following the successful completion of the testing phase and user experience assessments. These service packages will include a wider range of priority services. Phase II of the programme aims to achieve 100 per cent zero digital bureaucracy by removing redundant digital steps, minimising the number of smart applications, and upgrading all digital government systems. It also involves the active adoption of artificial intelligence and a fundamental shift in the culture of government work.
