{
}
The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
A wave of investments is propelling the growth of startups across the MENA region, with significant funding rounds in fintech, healthcare, and e-commerce. Notable highlights include PayTabs acquiring a 51% stake in PayTabs Egypt, and Klaim raising $10 million to enhance medical insurance claims processing. Other startups like Motery and Longevity Wellness Hub are also securing funds to expand their innovative solutions in their respective sectors.
A wave of investments is propelling the growth of startups across the MENA region, with significant funding rounds in fintech, healthcare, and e-commerce. Notable highlights include PayTabs acquiring a 51% stake in PayTabs Egypt, Klaim raising $10 million for healthcare fintech expansion, and Aya securing $1.5 million for its modest fashion e-commerce platform. These developments reflect strong investor confidence in innovative business models and emerging technologies.
Valu has emerged as Egypt's leading financial super-app, boasting over 700,000 active users and launching co-branded credit and prepaid cards that achieved 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores.In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services. Companies like MyFatoorah and MNT-Halan are making significant strides, while cross-border expansion is anticipated, positioning the region for a robust financial future.
Valu has emerged as Egypt's leading financial super-app, boasting over 700,000 active users and launching co-branded credit and prepaid cards that achieved 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores.In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services. Companies like MyFatoorah and MNT-Halan are making significant strides, while cross-border expansion is anticipated, positioning the region for a robust future in the global fintech landscape.
Phoenix Venture Partners has closed its $50 million Innovation Fund to bolster the MENA startup ecosystem, focusing on high-growth sectors like fintech, healthtech, edtech, and sustainability. The fund, backed by global investors, aims to drive innovation and entrepreneurship in the region, aligning with economic transformation goals. With this capital, PVPIF is set to accelerate investments and strengthen the venture capital landscape in MENA, supported by government initiatives promoting technology-driven economic diversification.
Phoenix Venture Partners has closed its $50 million Innovation Fund to bolster the MENA startup ecosystem, focusing on high-growth sectors like fintech, healthtech, edtech, and sustainability. The fund, backed by global investors, aims to drive innovation and entrepreneurship in the region, aligning with economic transformation goals. With this capital, PVPIF is set to accelerate investments and strengthen the venture capital landscape in MENA, supported by government initiatives promoting technology-driven economic diversification.
Phoenix Venture Partners has completed the second closing of its $50 million Innovation Fund, aimed at supporting early-stage startups in the MENA region. The fund will focus on high-growth sectors such as fintech, healthtech, edtech, and sustainability, reflecting strong investor confidence and alignment with regional economic initiatives. This milestone positions PVP to drive innovation and economic growth in the fast-evolving startup ecosystem.
Saudi Arabia's startup ecosystem is thriving, with five startups achieving unicorn status and 35 more on the verge, driven by government initiatives under Vision 2030. Key programs like the Tomooh Program and the Billion-Dollar Companies Incentive Program are facilitating access to funding, mentorship, and international market opportunities, reinforcing the nation's position as a regional innovation hub.
KWT
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Arab region GDP grows 1.8 percent to 3.6 trillion in 2024
13:49 16.03.2025
Arab region GDP grows 1.8 percent to 3.6 trillion in 2024
United Arab Emirates Dirham
Egyptian Pound
United States Dollar
Iraqi Dinar
Algerian Dinar
Opec
Moody's Corporation
ARE
OMN
KWT
SAU
IRQ
DZA
EGY
Show more
13:49 16.03.2025
mena startups secure significant funding to drive regional growth and innovation
United States Dollar
Omani Rial
Euro
KWT
USA
DEU
ARE
EGY
OMN
SAU
Abdulrahman Al Ammar
Abdulaziz Al Jouf
Show more
21:01 15.03.2025
mena startups secure significant funding to drive regional growth and innovation
Euro
Omani Rial
United States Dollar
ARE
OMN
DEU
SAU
KWT
USA
EGY
Abdulrahman Al Ammar
Abdulaziz Al Jouf
Show more
21:01 15.03.2025
fintech revolution in mena drives growth and innovation in 2024
United States Dollar
TUR
JOR
EGY
PAK
KWT
ARE
PSE
OMN
SAU
Mounir Ikram Nakhla
Daniil Barkalov
Hosam Arab
Seif Amraoui
Jayesh Patel
Ahmed Mohsen
Walid Hassouna
Abdullah Aldabbous
Moayad Alfallaj
Ahmad Hammouda
Ashraf Sabry
Nasser Al-Saleh
Show more
00:50 15.03.2025
fintech revolution in mena drives growth and innovation in 2024
United States Dollar
Value Line, Inc.
TUR
ARE
OMN
SAU
PAK
PSE
KWT
JOR
EGY
Ahmed Mohsen
Moayad Alfallaj
Jayesh Patel
Mounir Ikram Nakhla
Abdullah Aldabbous
Ahmad Hammouda
Seif Amraoui
Daniil Barkalov
Walid Hassouna
Nasser Al-Saleh
Ashraf Sabry
Hosam Arab
Show more
00:50 15.03.2025
Phoenix Venture Partners launches 50 million dollar fund to boost MENA startups
13:22 14.03.2025
Phoenix Venture Partners launches 50 million dollar fund to boost MENA startups
13:22 14.03.2025
phoenix venture partners secures fifty million dollars to boost mena startups
18:47 13.03.2025
Saudi Arabia's startup ecosystem thrives with new unicorns and investment initiatives
19:05 11.03.2025
Trending
Subcategory
AI Innovations
Corporate News
Stock Market Updates
Industry Trends
Market Analysis and Predictions
Startups & Entrepreneurship
Banking Regulations
Emerging Startups
Cybersecurity Innovations & Tech
Funding Rounds & Investments
Product Launches
Economic Indicators
Fintech Startups
Private Equity Deals
Software Development Trends
Venture Capital Investments
Retail and Consumer Goods
Industry Mergers & Acquisitions
AI Applications
Finance Mergers & Acquisitions
Countries:
Companies:
Huawei Technologies CO. Ltd.
UBS Group AG
NVIDIA Corporation
Nvidia Corporation
Apple Inc.
Google Inc.
Microsoft Corporation Corp.
Berner Kantonalbank AG
Deutsche Bank AG
Crane Company
Deyaar Development PJSC
Maverick Ventures (Israel) 1.5 GP Ltd.
SuperSeed B.V.
DeepSeek R1 USD
Tencent Holdings Limited
XPeng Inc.
Toyota Motor Corporation
Alphabet Inc.
Xiaomi Corporation
NEO-NEON
Currencies:
United States Dollar
Euro
Chinese Yuan
Swiss Franc
Indian Rupee
British Pound Sterling
Japanese Yen
South African Rand
Filipino Peso
Norwegian Krone
Offshore Chinese Yuan
People: