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The unstoppable growth of e-grocery

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After Dapi published its open letter to the UAE Bank Federation Advisory Council penned by co-founder Mohammed Aziz last month, the issue of open banking in the Middle East and North Africa remains hotly contested. In this piece, we take a closer look at the state of open banking in the region.

Internet usage in the Mena region is on the rise with more people using mobile devices for their web browsing needs. We spoke with Selina Bieber, senior regional director for Mena, Turkey, and South Africa at GoDaddy, about the importance of ensuring mobile compatibility for business websites in today's digital world.

Overall in Mena, the e-grocery market is currently worth $2 billion and accounts for 12% of e-commerce, compared to about 1% in 2019. The growth has beaten analyst expectations and Q4 predictions indicate these trends will continue to evolve with the fear of contracting Covid-19 being one of the main reasons why consumers continue to shop online.

Banks and most exchange houses worked to make their services available online during the lockdown periods in the GCC, but struggled to make a seamless transition to the digital world and in their place, fintechs offering peer-to-peer money transfers began to thrive. Here is how the digitisation of the outbound and inbound aspect of remittances is leading to purpose-driven remittances.

The future of agritech in Mena

Wamda is hosting an online panel on 'The future of agritech in Mena' on 4 November to discuss the recent rise of agritech startups, the role of regional governments, as well as the local infrastructure, resources, and talent in agritech across Mena. Register your interest here.

In case you missed it - here's our round-up from News Watch:

KBW Ventures invests in US-based Back to the Roots

Garage raises $260,000

$20 billion investment target set for Saudi national AI strategy

EBRD supports Badia Impact Squared first closing

SCA approves crypto assets regulation

FOODICS launches micro-lending fund to support SMEs in F&B sector

Dubai's Jabbar Internet Group invests in India's Arzooo

Dubai Crown Prince launches Nasdaq Dubai Growth Market for SMEs

TIER marks return of e-scooters in Dubai

Dubai's ICD, Bahrain-based Investcorp invest in India's FreshToHome

Bahrain Fintech Bay, US's MEPI launch accelerator for local startups

Do you have a story you'd like to share with us? Drop us a line.

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The slow rise of neobanking in the Middle East

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Investment firm ADQ, the holding company for some of the biggest assets in the UAE, announced plans to set up a digital bank with an initial capital of $544 million after obtaining the legacy licence from First Abu Dhabi Bank (FAB), a big step forward for the neobanking sector in the region. We took a closer look at the rise of the sector in Mena and the barriers that remain.

This pandemic has caused a crisis unlike any other in modern history, and while many suffered as a result, others sought out opportunities that the pandemic brought about. In this podcast, we spoke with Sedar Global, a 128-year old company, and Viromasks, a startup that did not exist at the beginning of this year, to get a better sense of how they seized the opportunity to produce masks.

This week, the Central Bank of Bahrain (CBB) launched FinHub 973, the first of its kind virtual fintech platform in the region. The platform is powered by FinX22, an open, cloud-based financial services platform developed by Fintech Galaxy, the digital crowdsourcing fintech company. Mirna Sleiman, founder and CEO of Fintech Galaxy, tells us about the launch of the new platform.

For startups and scaleups, a crisis can derail growth and deter potential investors if managed incorrectly. Sean Pattwell, founder and CEO of CW8 Communications, shares three key insights that can help startups manage a crisis when it hits, and explains that while the crisis may be inevitable, chaos is not.

#askWamda: Our new online mentorship service

Over the past decade, Wamda has played a key role in enabling entrepreneurship in the region. Now, we want to provide a more personal and direct service to founders in Mena through our virtual service for startups in need of mentorship or advice from our team, #askWamda.

In case you missed it - here's our round-up from News Watch:

JGroup invests $15 million in Dubai-based FoxPush

UAE's Amanat invests in US-based BEGiN

ArabyAds acquires AdFalcon

More investment, better regulations needed in Iraq

Aumet acquires Uniorders

Halcyon, AWS launch tech incubator for female founders in Middle East

Foundations Ventures launches early-stage fund, invests in 4 startups

Do you have a story you'd like to share with us? Drop us a line.

Coba Demo Akun Rekomendasi Kami, Untuk Menguji Keakuratan Analisanya. Ubahlah PELUANG menjadi UANG

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The unstoppable growth of e-grocery

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The slow rise of neobanking in the Middle East

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