Uber Eats launches in Riyadh

Uber Eats has added Riyadh in its entrée of more than 200 cities in the world that it serves. (Courtesy Uber Eats)
Updated 01 February 2018
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Uber Eats launches in Riyadh

DUBAI: Uber Eats has added Riyadh in its entrée of more than 200 cities in the world where customers can order meals online or through the app and have them delivered at home or in their offices.
Starting today, residents can download the Uber Eats app or access ubereats.com and choose from over 100 restaurant locations in Riyadh – from local favorites such as Cafe Bateel, Manoosh and Hamburghini to everyday brands including McDonalds and PizzaHut. Ordered food would be prepared and delivered in an average of 30 to 40 minutes.
“We’re hugely excited to be launching in Riyadh today. People in the city can now use Uber Eats to choose from hundreds of dishes to get the food they want, when they want it, delivered at Uber speed – whether that’s dinner at home, lunch at work or a snack when out with friends,” Mohamad Jardaneh, general manager of Uber Eats Saudi Arabia, said in a statement.
While Uber Eats is a global brand, the Uber Eats app in Saudi Arabia has been custom built to meet the needs of local residents and businesses, Jardaneh said, and Riyadh will become the first Uber Eats city in the world to launch with cash as a payment option.
“We know the importance of building technology to meet the everyday needs of locals. Whether that’s by opening up the benefits of our technology to more people with things like cash, or by investing in redesigning the app to offer customers the local experience they expect,” said Jardaneh.


Ma’aden acquisition supports Vision 2030

Updated 24 April 2019
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Ma’aden acquisition supports Vision 2030

The acquisition of an African fertilizer distribution company by Ma’aden, the largest Saudi mining company, will advance Ma’aden’s Strategy 2025, which includes plans to expand operations in the Kingdom and grow sales globally. The acquisition will also support Saudi Arabia’s Vision 2030, which seeks to diversify the economy, increase non-oil exports, boost the Kingdom’s non-oil GDP, and reinforce the mining sector as the third pillar of Saudi industry, after oil and gas and petrochemicals. 

Ma’aden will make its first international acquisition with the purchase of the Mauritius-based Meridian Group, which is due to be completed by September for an undisclosed fee.

The publicly-listed Saudi mining company will acquire an 85 percent stake in the company in an all-cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia. Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural crops are harvested. 

“This acquisition marks a very important step in Ma’aden’s strategy to build global distribution channels for our fertilizer products,” said Darren Davis, president and chief executive of Ma’aden. “As we continue to build one of the largest producers and exporters of phosphate fertilizers in the world, ensuring an efficient route to key growth markets is critical to our success.” 

Agriculture forms a significant portion of the economies of all African countries. As a sector, it can therefore contribute to major continental priorities, such as eradicating poverty and hunger. The agri industry can also boost intra-Africa trade and investments, rapid industrialization and economic diversification, sustainable resource and environmental management, and create jobs, human security and shared prosperity.

The Southeast African market, like most of the African continent of 1 billion people, is experiencing increased demand for phosphate fertilizers which industry analysts expect to continue growing by 5 percent annually over the next decade, fueled by population growth and increasing education in the use of fertilizers.

“Ma’aden is acquiring unparalleled access to complementary distribution, blending and product-development capabilities in this fast-growth region,” said Hassan Al-Ali, Ma’aden’s senior vice president for phosphate. “This transaction will provide us with logistics advantages in Southeast Africa, and greater knowledge of on-the-ground customer requirements, both of which will be instrumental in better serving our customers.”

The Saudi global mining giant will secure the remaining 15 percent of Meridian’s equity over four years on agreed terms linked to the performance of the African company, which distributes approximately half-a-million tons of fertilizer through its network of granulation and blending plants, warehousing complexes and port facilities. 

HSBC acted as Ma’aden’s financial adviser on the deal and Baker McKenzie was the Saudi company’s legal adviser for this acquisition.