Lira in free fall on fears of lower interest rates, sinks below 12 a dollar

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Updated 23 November 2021
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Lira in free fall on fears of lower interest rates, sinks below 12 a dollar

  • Speculation that Erdogan might soon replace Finance and Economy Minister Lutfi Elvan further fanned worries

The lira slumped 8 percent to a record low of 12.49 versus the dollar on Tuesday on intensifying worries about Turkey’s unconventional monetary policy, while Russia’s rouble recovered but worries about a war with Ukraine kept it at four-month lows.


Turkish President Tayyip Erdogan, long demanding stimulus to spur economic growth, defended lower policy rates on Monday, vowing to succeed in his “economic war of independence.”

The policy rate now stands at 15 percent while inflation runs at 20 percent.


Speculation that Erdogan might soon replace Finance and Economy Minister Lutfi Elvan further fanned worries.


The lira is now down more than 37 percent against the dollar in 2021, significantly lagging other emerging market peers, with volatility gauges spiking.


“We would have to really start to see strains building in the banking sector before we might get a change in course. So far banks have been weathering this really well.

So long as that remains the case, I suspect the central bank will not raise rates,” said Jason Tuvey, senior EM economist at Capital Economics, adding the lira may fall beyond 13.


Risk sentiment was more broadly hit after US President Joe Biden picked Federal Reserve chief Jerome Powell to lead for another term, raising bets that the central bank may tighten policy faster than expected, which could pull funds away from EM assets.


EM stocks hit six-week lows, with some gains in mainland China, India, Turkey and Russian stocks capping losses.


Central banks in developing economies ramping up interest rates will be supportive for emerging market debt, but could spell trouble for equities, BlackRock said on Monday.


Saudi inflation holds steady at 2.2% in May  

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Saudi inflation holds steady at 2.2% in May  

RIYADH: Saudi Arabia’s annual consumer inflation edged up to 2.2 percent in May, with rental prices emerging as the principal driver behind the increase.  

The uptick was fueled by an 8.1 percent rise in housing rents, including a 7.1 percent increase in villa rental prices, according to the latest data released by the General Authority for Statistics. 

While inflation across the Middle East and Central Asia shows signs of easing, country-level dynamics remain mixed, with Egypt reporting 16.8 percent in May, Jordan at 1.98 percent, Saudi Arabia holding steady at 2.2 percent, and Dubai’s rate moderating to 2.3 percent in April. 

In a release, GASTAT stated: “On a monthly basis, the consumer price index remained stable in May 2025, recording a 0.1 percent increase compared to April 2025.” 

It added: “This was mainly due to a 0.3 percent rise in housing, water, electricity, gas, and other fuels section, driven by a 0.4 percent increase in actual housing rent 

Prices.” 

On a month-to-month basis, the consumer price index recorded only a modest increase, signaling relative price stability.  However, key segments such as housing, food and beverages, and personal goods and services contributed to the mild inflationary pressure, partially offset by declines in transportation and household furnishings. 

The Kingdom’s inflation dynamics in May highlight the ongoing strain in the housing sector, where rising rental costs have been the most significant inflationary force.  

The housing, water, electricity, gas, and other fuels category saw a year-on-year increase of 6.8 percent, driven primarily by the sharp climb in actual rents.  

This sector carries the greatest weight in the consumer basket, representing 25.5 percent of the overall index, which significantly increases its impact on the national inflation rate. 

GASTAT stated that “rents paid for housing in May 2025 increased by 8.1 percent, attributed to a 7.1 percent increase in rental prices for villas,” underscoring the persistent demand pressures in the residential rental market. 

As urban development and population growth continue, rental affordability may remain a critical issue for policymakers. 

The upward trend in rents is being driven by a complex mix of structural and economic factors.  

Residential demand in Saudi Arabia’s largest cities, particularly Riyadh and Jeddah, has increased as urban populations grow and Vision 2030 development projects attract investment.  

Major initiatives such as NEOM and Jeddah Central are fueling this trend. At the same time, housing supply has not kept pace, especially in the rental market, despite a pipeline of 3.5 million residential units.  

Construction activity remains below the level needed to stabilize prices. Rising costs for building materials and labor have also pushed up developers’ expenses, contributing to higher rents.  

These dynamics reflect the Kingdom’s rapid urban development under Vision 2030, which aims for a 70 percent homeownership rate and a diversified economy.  

However, as mortgage-backed homeownership increases, rental demand remains strong, continuing to perpetuate upward pressure on rents. 

In addition to housing, food and beverage prices rose by 1.6 percent compared to May 2024, largely driven by a 2.8 percent increase in the prices of meat and poultry. 

These gains coincide with trends observed in the wholesale sector, where the prices of agricultural and fishery products jumped by 4.4 percent over the same period.  

Agricultural products alone posted a 6.2 percent rise, and fishing products increased by 6.1 percent, indicating upstream cost pressures that are gradually being passed on to consumers. 

The personal goods and services category also saw a notable annual rise of 4 percent, led by a 24.4 percent increase in prices of jewelry, watches, and precious antiques.  

This increase, while potentially reflecting stronger discretionary spending, also suggests elevated pricing in the luxury goods segment. Meanwhile, catering services drove a 1.8 percent increase in restaurant and hotel prices, adding modestly to overall inflation. 

Education and health costs recorded limited inflation, with education rising by 1.3 percent, primarily due to a 5.6 percent increase in non-university post-secondary costs.  

Health-related prices remained broadly stable, providing some relief in an otherwise inflationary environment. 

However, certain sectors experienced deflationary pressures. Furnishings and household equipment prices dropped by 2.5 percent year on year, largely because of a 4 percent decline in furniture, carpets, and flooring prices. 

Clothing and footwear prices fell by 0.9 percent, driven by a 2.7 percent reduction in footwear prices.  

Transport costs also decreased by 0.8 percent, as the price of vehicle purchases dropped by 1.9 percent. 

These categories helped counterbalance some of the broader upward pressures on the index. 

On a monthly basis, the CPI’s 0.1 percent increase was relatively muted. Food and beverage costs rose by 0.1 percent, while personal goods and services increased by 0.5 percent, and tobacco prices ticked up 0.2 percent. 

However, several categories saw declines: transportation fell 0.2 percent, recreation and culture decreased 0.1 percent, furnishings dropped 0.7 percent, clothing and footwear slipped 0.4 percent, and communication declined 0.1 percent.  

The prices of education, health, and restaurants and hotels showed no significant month-over-month changes. 

Wholesale Price Index 

The broader inflation picture is reinforced by wholesale price data, which showed a 2 percent year-on-year increase in the wholesale price index in May. 

The WPI tracks the prices of goods before they reach the retail level, offering insights into future consumer price trends.  

The rise was mainly driven by the same categories that affected the CPI: agriculture and fishery products, which increased by 4.4 percent, and other transportable goods, excluding metals and machinery, which rose by 4.3 percent. 

“This increase was primarily driven by an 8.2 percent rise in the prices of refined petroleum products,” the WPI report stated.  

Furniture and other transportable goods not elsewhere classified recorded a sharp 9 percent increase, further signaling inflationary pressures in non-essential consumer goods. 

Conversely, wholesale prices of metal products, machinery, and equipment fell by 0.3 percent, affected by a 5.1 percent decline in the prices of radio, television, and communication equipment, as well as a 3.3 percent decrease in general-purpose machinery prices.  

The prices of ores and minerals dropped by 1.5 percent, reflecting a general cooling in commodity prices, mainly due to a reduction in the prices of stone and sand. 

Monthly changes in the WPI were largely flat, recording no overall change from April.  

A slight 0.1 percent rise in the prices of transportable goods and ores was balanced out by a 0.3 percent decline in agricultural products and a 0.2 percent fall in metal and digital machinery prices. 


Saudi Arabia’s Almarai to acquire Pure Beverages Industry Co. in $277m deal 

Updated 27 min 33 sec ago
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Saudi Arabia’s Almarai to acquire Pure Beverages Industry Co. in $277m deal 

  • Transaction will be funded through Almarai’s internal cash flows
  • Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom

RIYADH: Saudi dairy giant Almarai has signed an agreement to fully acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and enhance its market position. 

Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom, known for its “Ival” and “Oska” brands. The company operates modern facilities and follows established production standards with a focus on quality and sustainability.  

Mergers and acquisitions are on the rise in Saudi Arabia as the nation pursues economic diversification and privatization efforts under Vision 2030, a strategy that promotes foreign investment and supports local entrepreneurship. 

In a statement, Almarai stated: “This strategic acquisition is in line with Almarai’s plan to diversify its beverage offerings and enhance its market position. We believe this deal will create added value for our shareholders.” 

The transaction will be funded through Almarai’s internal cash flows and is subject to fulfilling all contractual conditions and obtaining necessary regulatory approvals in the Kingdom.  

Almarai also confirmed that there are no related parties involved in the transaction and pledged to disclose any material updates regarding the deal in the future. 

Founded in 1977, Almarai is one of the largest food production and distribution companies in the Middle East, offering fresh dairy, yogurt and cheese, as well as juices, baked goods, poultry, and infant nutrition products. Listed on Tadawul since 2005, it remains one of the market’s highest-valued companies. 

According to the General Authority for Statistics, bottled water was the primary source of drinking water used by households in Saudi Arabia in 2023, with a reliance rate of 57.24 percent. This was followed by public network water at 23.56 percent and tanker water at 18.60 percent. 

Given the heavy reliance on bottled water, the Saudi Water Authority plays a pivotal role in regulating and improving water sources — ensuring sustainability, safety, and accessibility across all supply methods. 

The authority is the competent body in the Kingdom for all water system affairs at the supervisory and regulatory levels, providing strategic support to the sector through regulatory control and supervision. 


Gulf markets fall as Israel-Iran conflict escalates

Updated 15 June 2025
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Gulf markets fall as Israel-Iran conflict escalates

  • Israel and Iran launched fresh attacks on each other overnight into Sunday

DUBAI/BANGALORE: Stock markets across the Gulf fell on Sunday morning after Israel and Iran launched fresh attacks on each other overnight, sparking fears of a widening conflict in the Middle East.

Israel said it had targeted Iran’s nuclear facilities, ballistic missile factories and military commanders in strikes that started on Friday and continued over the following days, in what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon.

Iran responded by launching attacks on Israel and calling off Sunday’s nuclear talks that the US said were the only way to halt Israel’s bombing.

The Qatari stock market index slid 2.9 percent by around 10:15 Saudi time, with almost all constituents in negative territory. Among them, Qatar Gas Transport Nakilat extended losses and was down 3.1 percent, while Qatar Electricity and Water Company was down 1.7 percent.

Qatar National Bank, the Gulf’s biggest lender, retreated 3.3 percent.

Israel late on Saturday attacked Iranian energy infrastructure, including an offshore installation on the South Pars gas field, which Iran shares with Qatar, and is the source of most of the gas produced in Iran, stoking fears of potential disruption to the region’s energy exports.

Saudi Arabia’s benchmark index recovered some ground to trade 1.6 percent lower, after plunging 3.6 percent at the open as stocks fell across sectors.

In Kuwait, where the main index was down 4.3 percent, shares in Jazeera Airways fell as much as 10 percent, as airlines avoided the airspace over most of the region.

Elsewhere in the Gulf and wider Middle East, the Muscat Stock Exchange registered a 1.5 percent fall, the Bahrain index eased by 0.8 percent, while Tel Aviv stocks opened lower by 1.5 percent.

Oman was a mediator between Iran and the US in the nuclear talks.

The Dubai and Abu Dhabi bourses in the UAE, which will reopen on Monday, closed down 1.9 percent and 1.3 percent, respectively, on Friday.


Saudi Arabia reshapes workforce with surge in talent mobility solutions

Updated 14 June 2025
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Saudi Arabia reshapes workforce with surge in talent mobility solutions

  • Talent mobility services are emerging as a pivotal force in reshaping Kingdom’s employment landscape

RIYADH: As Saudi Arabia pushes forward with its Vision 2030 transformation agenda, talent mobility services are emerging as a pivotal force in reshaping the Kingdom’s employment landscape — streamlining transitions, boosting retention, and aligning workforce development with national diversification goals.

From artificial intelligence-powered human resource platforms to targeted upskilling programs and strategic internal marketplaces, both private firms and public initiatives are facilitating dynamic career transitions. These interventions are not only transforming the experience of work in Saudi Arabia but also supporting businesses in building a more agile, tech-enabled, and future-ready workforce.

A shift toward internal agility

As the labor market evolves, the focus has moved from external recruitment to creating an internally sustainable talent ecosystem. According to Francesco Cotrone, partner at Arthur D. Little, providers are enabling this transformation by deploying tools such as internal job marketplaces, AI-driven role matching systems, and strategic workforce planning platforms.

“These technologies not only give employees visibility into internal opportunities but also match them to roles based on both current capabilities and future potential,” he said.

The result is a shift away from static, linear career paths toward more flexible, opportunity-rich trajectories. This is particularly critical in fast-growing sectors such as logistics, tourism, and ICT, where the ability to reskill and redeploy talent quickly has become a competitive differentiator.

Cotrone cited Taqat, a leading domestic talent mobility service provider, as a prime example. The company’s employee transition program assesses individual skills and delivers customized training to support career moves across industries.

“As it works to connect skilled workers with employers in high-demand sectors such as technology and healthcare, Taqat facilitates seamless transitions, enhances career opportunities, and addresses critical skill shortages in the evolving job market,” he added.

Navigating compliance and change

Saudi Arabia’s workforce is also being shaped by demographic and regulatory dynamics. Abeer Al-Husseini, partner at Fragomen, noted that by the end of 2024, the Kingdom’s foreign workforce had grown to over 13.6 million, marking a 13.3 percent year-on-year increase and a 33.4 percent jump since 2019.

“In this environment, mobility providers are essential in helping businesses navigate regulatory frameworks such as Saudization policies under the Nitaqat program, sector-specific quotas, and compliance obligations set by the Ministry of Human Resources and Social Development,” Al-Husseini said.

These services often manage interactions with multiple government platforms — such as Qiwa and GOSI — while enabling fast, compliant transitions across functions and sectors. This reduces administrative friction and helps ensure continuity amid shifting business conditions.

She emphasized that talent mobility providers not only facilitate expatriate integration but are also playing a vital role in embedding Saudi nationals into the private sector. By supporting strategic workforce planning and Saudization targets, these providers align with national human capital development priorities.

From recruitment to retention

Modern mobility is no longer just about hiring — it’s about mapping skills, identifying gaps, and supporting long-term workforce evolution. Faisal Al-Sarraj, KSA deputy country leader and consulting clients and markets leader at PwC Middle East, underscored the value of internal talent marketplaces — digital tools that align employee skills and interests with internal opportunities.

“As Saudi Arabia continues to advance under Vision 2030, organizations need to be proactive in building teams with the needed market skills. Talent mobility helps with this by upskilling and cross-training existing employees,” Al-Sarraj told Arab News.

He acknowledged that while external hiring remains necessary for certain critical roles, internal mobility is gaining ground as a strategy for boosting retention and responsiveness. 

Mobility providers are essential in helping businesses navigate regulatory frameworks, sector-specific quotas, and compliance obligations.

Abeer Al-Husseini, partner at Fragomen

“Providers also help organizations shift from reactive hiring to proactive workforce planning. By using advanced tools, they help companies forecast what skills will be needed in the future and develop strategies to reskill employees. Providers like Mercer, Adecco, Bayt, and Naseej are doing an excellent job in this space,” he said.

Serge Eid, a member of Bain & Co.’s Public Sector practice, noted that providers are extending their services beyond hiring logistics to include skilling initiatives and regional talent deployment — key factors for scaling in emerging sectors.

“This support has become increasingly critical as businesses look to scale quickly, pivot into new sectors, or access regional talent pools,” Eid said. “They also support Vision 2030’s broader push for a more dynamic and globally integrated labor market.”

AI and reskilling for career growth

Mobility providers are increasingly focusing on reskilling and internal progression through AI-driven tools that align employee growth with business and national objectives.

Cotrone highlighted the growing need for new roles such as AI specialists and data analysts, which are being addressed through targeted training programs. 

Importantly, these services enhance retention by making career development tangible.

Francesco Cotronei, partner at Arthur D. Little

“Importantly, these services enhance retention by making career development tangible. Companies that offer clear growth pathways, mentoring, and internal mobility opportunities are not only accelerating role fulfillment. They’re also building employee loyalty, engagement, and hence, retention,” he said.

Al-Husseini added that talent mobility providers help businesses reimagine career paths as technology and regulations evolve.

PwC’s Al-Sarraj cited platforms such as Pymetrics, Fuel50, and Cornerstone OnDemand that offer employees AI-powered tools to map career journeys and personalize upskilling efforts.

He referenced a recent collaboration between Education for Employment Saudi Arabia and Agility, which launched a program using AI tools to help young job seekers tailor their applications and navigate the job market. 

These efforts not only fill capability gaps but also signal long-term investment in people.

Serge Eid, member of Bain & Co.’s public sector practice

“This is a perfect example of how talent mobility can help not just in employee transitions but also in creating a workforce that’s future-ready,” Al-Sarraj noted.

Eid added that such investments in internal mobility signal long-term commitment to employee growth, improving loyalty and performance.

“These efforts not only fill capability gaps but also signal long-term investment in people, which in turn drives loyalty, higher engagement, and better performance,” he said.

Strategic drivers for 2025 and beyond

Looking ahead, talent mobility is poised to become a central driver of workforce strategy in Saudi Arabia. Cotrone expects key trends to include personalized, experience-rich career paths and an increasing demand for data analytics literacy.

“Talent mobility providers will increasingly act as strategic partners, helping organizations create adaptive, future-proof talent ecosystems,” he said.

He added: “Talent mobility will be recognized not just as a business advantage but as a profound national imperative. As organizations invest in intelligent, internally driven workforce systems, they will unlock new pathways for growth and ensure that Saudi talent remains competitive, empowered, and at the heart of the Kingdom’s cross-sectoral transformation journey.”

Al-Husseini projected that companies would require rapid, compliant deployment solutions as sectors like healthcare, tourism, and tech expand. At the same time, local workforce development will become a priority, with providers playing a key role in integrating Saudi talent through internal mobility frameworks and reskilling for leadership roles.

She also pointed to the rise of hybrid and remote work, particularly in sustainability-related “green jobs,” requiring providers to support flexible, compliant mobility strategies.

PwC’s Al-Sarraj emphasized the growing role of predictive workforce planning, enabled by real-time data analytics.

“The alignment between workforce mobility and national upskilling initiatives will also be a major trend,” he said. He highlighted initiatives like Wa3d, which aims to provide 3 million training opportunities, and the Skills Accelerator, targeting 300,000 placements in emerging fields.

“Talent mobility providers will connect these initiatives to real job opportunities, ensuring that individuals gain the right skills and can apply them directly in the workforce,” he said.

He also cited the Ministry of Human Resources and Social Development’s Skills Taxonomy — a tool to align labor capabilities with evolving job demands. Cross-sector mobility, especially in digital health and green energy, is expected to play a vital role.

“Talent mobility providers will drive transitions, helping build a skilled, adaptable workforce essential to realizing Saudi Arabia’s Vision 2030 and sustaining long-term growth,” he added.

From Bain & Co.’s standpoint, Eid believes mobility will evolve into a strategic lever rather than just an operational function.

“AI-led workforce planning, demand forecasting, and personalized career pathways will increasingly inform mobility decisions,” he said. “Organizations that view mobility as part of a broader talent strategy will likely be better positioned to navigate future workforce shifts and build resilience in a rapidly changing environment.”


MENA funding rounds, expansions continue

Updated 14 June 2025
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MENA funding rounds, expansions continue

  • Strong momentum in funding follows the trend observed in May

RIYADH: The Middle East and North Africa witnessed several funding rounds for startups in the past week, with firms across multiple industries eyeing geographical expansion. 

The strong momentum in funding follows the trend observed in May, when startups throughout the region secured $289 million across 44 deals, marking a 25 percent rise from April and a 2 percent increase year on year.

In the past week, most of the fundraising rounds happened in the technological sector, an indication of the region’s evolving digital landscape. 

Payrails raises $32 million

Berlin-based payment software company Payrails has raised $32 million in a Series A funding round led by HV Capital’s Growth Fund, with strong participation from existing investors EQT Ventures, General Catalyst, and Andreessen Horowitz, bringing total funding raised to over $52.8 million. 

In a press statement, the company said that the fresh funding is expected to support the company’s product innovation, product roadmap expansion, and commercial growth across Europe and the MENA region.

“We are grateful for the trust our customers and investors have placed in us. Their continued support fuels our vision of empowering enterprises with an all-in-one platform to manage every aspect of payments, unlocking new levels of performance and innovation while driving down complexity and costs,” said Orkhan Abdullayev, co-founder and CEO of Payrails. 

“With this funding, we are doubling down on product development to expand our multi-product platform across the entire payment lifecycle. Our payment operating system is setting a new industry standard for how enterprises manage and optimize payments,” he added.

With the fresh capital, Payrails will also expand its all-in-one platform with new products across the payment lifecycle, from acceptance to payouts. 

Qanooni raises $2m to transform workflows 

UAE-based legal startup Qanooni has raised $2 million in a pre-seeding funding round led by Village Global, Salica Investments, TA Ventures, and several angel investors.

With the new financial assistance, the company seeks to support its team expansion and operations in the UAE and the UK. Through the funding, Qanooni also aims to further modernize legal operations by introducing a range of new tools, including end-to-end agentic workflows and deeper platform customization. 

 Orkhan Abdullayev and Emre Talay’s Payrails raised $32 million in a series A funding round. (Supplied)

Founded by Anuscha Iqbal, Ziyaad Ahmed, and Karim Shiyab, the company integrates directly into the software that lawyers mainly use during work, eliminating the friction of switching platforms or adopting new workflows.

The tools offered by Qanooni help law companies draft and produce documents faster and more accurately, while also making use of generative artificial intelligence that mimics a lawyer’s tone and writing style, which complies with international standards.

Hydrogen Utopia raises $339,000

UK-based Hydrogen Utopia raised $339,000 to expand its waste-to-hydrogen technology in the MENA region. 

Using the fund, the company plans to buy 10 exclusive licenses that give it the right to use InEnTec’s waste-to-hydrogen technology, which will help the firm carry out its operations in the region. 

Founded by Aleksandra Binkowska, the company specializes in transforming non-recyclable mixed waste plastic into hydrogen and other emission-free energy sources. 

Salus Cloud raises $3.7m in expansion push

Salus Cloud, an African-based AI-native DevOps platform, raised $3.7 million in seed funding to scale its operations across the Middle East and Africa. 

The fund round was led by Atlantica Ventures and P1 Ventures, while it also witnessed the participation of Idris Bello of Lofty Inc. Capital and angel investor Timothy Chen of Essence VC. 

Through the funding, the company aims to address a crucial issue in the world of technology, including access to secure, automated software deployment tools. 

With the newly acquired financial assistance, Salus also plans to support its customer base growth across Africa, the Middle East, and underserved tech ecosystems, as well as build partnerships with developer communities and tech hubs. 

VenueX raises $1.2 million

VenueX, an Istanbul-based AI startup, closed a $1.2 million bridge investment round, led by Singapore-based Orbit Startups. The investment is expected to support the company’s aim to expand its operations to Saudi Arabia and the UAE. 

VenueX is also planning to expand its presence in Dubai and Riyadh with new offices, while also creating a sales team in both cities. Founded in 2022, VenueX enables retail brands to manage their digital advertising on all platforms through a unified interface.

Orange Middle East and Africa partners with risingSUD

Multi-service operator Orange Middle East and Africa has signed a strategic partnership agreement with risingSUD to support the establishment and growth of African start-ups in the Orange Digital Center network in the Provence-Alpes-Cote d’Azur region, in the south of France. 

RisingSUD is the economic development agency in charge of attracting projects, investment, and talent to the area.

According to a press statement, the three-year partnership aims to bring together innovation ecosystems in Africa, the Middle East, and the South of France. 

With this partnership, OMEA strengthens its support for the internationalization of start-ups from Africa and the Middle East and reaffirms its commitment to developing the continent’s entrepreneurial ecosystems. 

The partnership will also allow more start-ups from MEA to benefit from risingSUD’s expertise, ranging from project development to access to financing and networking with international partners. 

“By facilitating their establishment and acceleration in France, particularly in the south region, we are giving young African companies the means to accelerate their growth,” said Jerome Henique, CEO of Orange Middle East and Africa. 

“This partnership opens up new economic opportunities and constitutes a real springboard for the development of businesses on both sides of the Mediterranean,” said Bernard Kleynhoff, president of risingSUD and president of the Economic and Digital Development, Industry, Export, Attractiveness and Cybersecurity Commissions of the Sud Region.