News
$10 million Facebook Community Leadership Programme open to MENA applicants
Today, Facebook in the Middle East and North Africa (MENA) announced the launch of the Facebook Community Leadership programme, a global initiative to support, recognize and invest in people building communities both online and offline.
As part of the programme, Facebook will invest tens of millions, including up to $10 million in grants that will go directly to people leading communities, with the aim to empower them to continue building meaningful communities through the Facebook family of apps and services.
The leadership programme will include:
- Residency and Fellowship opportunities offering training, support and funding for community leaders from around the world.
- Up to five leaders will be selected to be community leaders in residence and awarded up to $1,000,000* each to fund their proposals.
- Up to 100 leaders will also be selected for Facebook’s fellowship program and will receive up to $50,000* each to be used for a specific community initiative.
- Community Leadership Circles bringing local community leaders together to meet up in person to connect, learn, and collaborate. Facebook has piloted three circles in the US in 2017 and will be expanding globally this year.
- Groups for Facebook Power Admins, which Facebook currently runs with more than 10,000 group admins in the US and UK, are expanding to more members to help them share advice with one another and connect with our team to test new features and share feedback.
Applications are now open for the residency and fellowship. To learn more and apply, visit communities.fb.com.
Facebook also introduced new tools for group admins at the Facebook Communities Summit in London. These new tools include:
- Admin tools: Admins can now find member requests, pending posts, Group Insights, settings, and more — all together in one place. These tools make it easier to manage groups and frees up more time for admins to connect with people.
- Group announcements: Following the demand from group admins to be able to easily share updates, Facebook is introducing group announcements, which let admins post up to 10 announcements that appear at the top of their group page. Admins can set expiration times for each, giving them greater flexibility in communicating important and timely information.
- Group rules: Keeping communities safe is important. Many admins already create and enforce standards within their groups. Facebook has created a dedicated rules section to help them effectively communicate the rules of the group to members.
- Personalization: Each community has its own identity — that’s why Facebook is announcing colors, which let admins add a personalized color that is displayed throughout their group. This redesign also highlights members’ friends who are in the group, helping to strengthen bonds between members.
In addition, Facebook revealed the expansion of their London-based engineering team that builds technology to help keep people safe and secure on Facebook. London is home to Facebook’s largest engineering hub outside of the US, and by the end of 2018, they will double the number of people working in London on these issues. The engineering work on community safety includes the following:
- Detecting and stopping fake accounts: Working to make sure Facebook is a community of people who can connect authentically with real people.
- Protecting people from harm: Reducing things like harassment and scams that can happen in the real world and on Facebook, by building better tools to spot these issues and remove them.
- Improving ways to report content: Making it easier for people to give us feedback about things that shouldn’t be on our platform, which works in conjunction with our automated detection.
The programs and tools Facebook announced today are designed to help the admins who lead these communities to grow and strengthen bonds among members. The leaders are a constant source of inspiration and Facebook looks forward to continuing their efforts to support them.
Lendo, a Saudi Arabia-based Shariah-compliant crowdlending marketplace, has signed a Memorandum of Understanding (MOU) today with J.P. Morgan to improve access to financing for small and medium-sized enterprises (SMEs) across the country.
The MOU was signed during 24 Fintech, a premier fintech event that brings together industry leaders, innovators, and investors in Riyadh.
J.P. Morgan and Lendo are working together on potential opportunities to support the SME sector in Saudi Arabia in growing and sustaining the remarkable demand in this market.
“This strategic collaboration with J.P. Morgan, a pioneer in the financial industry, marks a significant milestone for Lendo,” said Osama Alraee, CEO and co-founder of Lendo. “By combining our strengths, we’ll deliver cutting-edge financial solutions to SMEs, supporting their growth and contributing directly to the realization of Saudi Arabia’s Vision 2030.”
The SME financing landscape in MENA presents a substantial market opportunity as limited financial access continues to restrict the growth of the region’s businesses, with commercial banks hesitant to issue loans to SMEs at scale, resulting in a high percentage of declined financing requests annually.
The total SME financing gap in developing countries is estimated to be approximately $5.2 trillion, according to the International Finance Corporation (IFC).
Lendo’s debt crowdfunding platform aims to bridge the financing gap for SMEs, aligning with Saudi Vision 2030’s goal to significantly expand SME lending from 4% in 2018 to 20% by 2030.
According to the latest available report from the Saudi Central Bank (SAMA), the total value of debt crowdfunding in Saudi Arabia surged from SAR 1.4 million in 2019 to SAR 771 million in 2022, marking a remarkable growth.
Lendo raised SAR 132 million ($35.2 million) in total funding from leading investors, including the most recent Series B led by Sanabil Investments, a wholly-owned company by the Public Investment Fund (PIF).
Since its inception in December 2019, Saudi fintech Lendo has processed over 5,000 financing transactions on its platform, providing over SAR 2 billion ($600 million) in financing to SMEs and generating SAR 280 million ($74 million) in returns for investors.
TA Telecom, a prominent player in the Middle East’s tech sector, has unveiled AnteThink, an AI-driven tool designed to enhance decision-making processes for individuals and businesses alike.
With a history of influencing the tech landscape through various initiatives, including advanced mobile solutions, high-volume payment platforms, and ventures in e-commerce, fintech, and analytics, TA Telecom has carved a niche for itself. Serving a vast user base of 40 million and processing an impressive 15 billion transactions across its platforms, TA Telecom has cemented its position as a tech industry leader, with some of its ventures achieving the status of Y Combinator companies.
Established in 2000, TA Telecom has emerged as a prominent player in the technology sector. With over 40 million users and processing 15 billion transactions annually, TA Telecom has made a notable impact. Recognized for its contributions by the Financial Times and featured on Deloitte’s list of fastest-growing tech companies in EMEA, TA Telecom is known for its adaptability and forward-thinking approach in the ever-evolving global tech landscape.
Sameh Ibrahim, CEO of TA Telecom, highlights the potential of AnteThink: “AnteThink reflects our commitment to leverage technology for practical impact. It aims to provide clarity and confidence in decision-making, whether in the professional or personal sphere. AnteThink is a tool that can empower startup founders, executives, and individuals to make more informed choices, alleviating the stress and uncertainty often associated with critical decision-making.”
Mostafa Ashour, CEO of Y Combinator-backed startup NowPay, shared his perspective on AnteThink: “AnteThink transformed our strategic planning, allowing us to explore various scenarios and prepare for different outcomes. It has strengthened our decision-making process, helping us navigate the complexities of the business landscape.”
AnteThink embodies TA Telecom’s commitment to innovation, focusing on supporting the startup ecosystem. The tool is tailored to help leaders and executives navigate the complexities of business management and strategic development by providing a clear picture of potential outcomes.
Key Features of AnteThink include:
1. Second Order Mode: Offering a comprehensive analysis of broader impacts, fostering a strategic mindset for long-term success.
2. Optionality Mode: Enabling detailed evaluation and comparison of different choices to ensure decisions align with strategic objectives and values.
3. Inversion Mode: Focusing on identifying and mitigating potential risks, thereby strengthening risk management strategies.
Credit: Antethink
AnteThink’s advanced AI technology aims to assist decision-makers with insightful analytics, offering guidance through the decision-making process.
Selina Bieber, the Senior Director of Global Markets at GoDaddy, has predicted a significant increase in Egypt’s e-commerce revenue. By 2028, it could reach $9.88 billion.
Godaddy is forming strategic partnerships and launching initiatives to help local entrepreneurs. These efforts align with Egypt’s digital transformation goals and its Vision 2030.
In an interview with the Arabic financial news “Amwal Al Ghad,” Bieber spoke about GoDaddy’s plans and how they match Egypt’s 2023 strategy. She highlighted the company’s aim to provide effective, easy-to-use digital tools and services. By 2024, GoDaddy wants to serve more customers in Egypt by making its digital tools more widespread.
The company is working closely with the Egyptian government, especially the Ministry of Planning. They are offering training programs to improve the digital skills of startups and existing businesses. GoDaddy’s services in Egypt include domain registration, web hosting, e-commerce solutions, and digital marketing tools.
Recent surveys support Bieber’s positive outlook for e-commerce in Egypt. They show a clear trend towards digital strategies among small businesses. Many are realizing the importance of having an online presence for their growth and success.
As GoDaddy continues its partnerships and supports government digital initiatives, its influence on Egypt’s digital landscape is growing. The company is committed to sustainability and reducing its carbon footprint. It aims not just for business growth but also to contribute to a sustainable and thriving digital economy in Egypt.
The 2028 projection indicates a vast potential for e-commerce, with GoDaddy playing a key role in this digital evolution.
-
Startups9 years ago3 Creative Egyptian Women Who Master E-commerce
-
News9 years ago11 Talented Egyptian Photographers on Instagram
-
Campaigns8 years agoVodafone Egypt Brings Generations Together, Unlocks 4G Power
-
Marketing8 years agoWhich categories will suffer most from increased prices in Egypt?
-
Apps8 years agoRadio Garden Live Map of The Globe’s Radio Stations
-
News8 years agoTop 10 Egyptian Fashionistas to Follow on Instagram
-
Campaigns8 years ago7 Big Stats That Show Which Ramadan Advertisements Resonated Most
-
Opinion8 years agoF*** Being a Founder, Be a Follower