News
Mirum launches in Middle East and Africa
On 1 November, Mirum will launch in the Middle East and Africa, bringing together three regional digital powerhouses, Clear tag, HeathWallace, and Quirk. Renowned for their innovative and entrepreneurial cultures, they will form what is effectively one of the region’s most influential technology and innovation agencies.
Mirum is a new breed of digital agency created by the J. Walter Thompson Company in 2015, joining its most innovative and specialized digital marketing companies worldwide into a network of over 2,400 staff across 46 offices. Mirum’s goal is to “make what’s next” for clients who understand and embrace digital technology’s transformative power.
Mirum is a global digital agency that creates experiences people and businesses need. Named a Visionary in the 2016 Gartner Magic Quadrant, Mirum helps guide brands in business transformation, experience design, and commerce activation. The agency operates in 20 countries, with more than 46 offices and 2,400 professionals. Mirum partners with blue chip clients like Airtel, Capitec Bank, Distell, DStv, Google, Kellogg’s, HSBC, Qualcomm, Mazda, Visa, McDonald’s, Microsoft, Old Mutual, PepsiCo, Unilever, Woolworths, and Investec. Mirum is part of the J. Walter Thompson Company and WPP Network.
Dan Khabie, Mirum’s global CEO, says, “Mirum is not an ‘agency’ – we are a digital experience design business that is part strategic consultancy, part technology lab, part idea hothouse. Our global vision is to use our deep understanding of technology and human behavior to make experiences that businesses want and people need.”
Cleartag Co-founder and CEO Tarek Dajani, taking on the Mirum MEA CEO role, added, “I believe that the Middle East and Africa will drive a lot of the next decade’s innovation as we harness the power of digital technology to overcome structural barriers and disrupt traditional business models and cultural paradigms. Mirum is perfectly positioned to help our clients thrive in this ever-changing environment as Cleartag, HeathWallace, and Quirk bring together the perfect mix of expertise, experience, and local insight.“
Roy Haddad, Chairman of the J. Walter Thompson Company, Middle East and Africa, says, “We are incredibly excited to launch Mirum in the region. From the outset, Mirum will be a major player across the MEA region’s digital landscape. These three businesses already work together and give our clients a powerful base of more than 300 technology and digital specialists on the ground. As part of Mirum, they also have seamless access to a global pool of strategists and delivery teams to make what’s next for our clients in these fast-developing markets. From building an innovation center for Bank Audi’s “egallery” in Beirut to enabling Google voice search for McDonald’s in South Africa, the team has already shown how to bring the Mirum vision to reality.”
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.
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