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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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