SMEs in MENA, South Asia raise capital, expand

SMEs in MENA, South Asia raise capital, expand
Cairo-born quick commerce startup Rabbit has expanded its operations to Saudi Arabia by opening a regional headquarters in Riyadh. (Supplied)
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Updated 13 April 2025
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SMEs in MENA, South Asia raise capital, expand

SMEs in MENA, South Asia raise capital, expand
  • Pakistani fintech Haball raises $52 million to scale Shariah-compliant supply chain finance and payment solutions
  • Founded to address credit gap in Pakistan’s SME ecosystem, Haball enables businesses to access Islamic finance products

RIYADH: Startups across the Middle East, North Africa and South Asia are securing fresh capital and expanding into new markets, signaling strong investor confidence.

Saudi-based business-to-business marketplace Sary has announced it will merge with Bangladesh’s commerce platform ShopUp to create the SILQ Group, a newly formed entity aiming to transform cross-border trade across South Asia and the Gulf.

The merger is supported by a $110 million funding package comprising an equity investment and a financing facility dedicated to SILQ Financial, the group’s financial services arm.

The funding round includes participation from a broad investor base, led by Sanabil Investments, and joined by Valar Ventures, Flourish Ventures and STV, as well as MSA Capital, VSQ and Rocketship VC. Wafra Investment, Peak XV and Prosus were also involved, along with Tiger Global, Endeavor Catalyst and Raed Ventures.

Qatar Development Bank also participated as a new investor, as SILQ sets its sights on establishing a significant presence in the Qatari market.

This strategic alliance signals a significant step toward deeper commercial integration between the two regions, aiming to serve micro-, small-, and medium-sized enterprises with improved access to global supply chains and embedded financial tools.

Founded in 2018 by Mohammed Al-Dossary and Khaled Al-Siari, Sary connects small retailers and merchants with manufacturers and lenders across Saudi Arabia and the Gulf region.

ShopUp, founded in 2016 by Afeef Zaman, offers similar services in Bangladesh, acting as a crucial link between mills, brands, and neighborhood retailers.

The newly formed SILQ Group combines these complementary regional networks, technology stacks, and market expertise. 




Saudi-based business-to-business marketplace Sary has announced it will merge with Bangladesh’s commerce platform ShopUp to create the SILQ Group. (Supplied)

“Through this merger, we’re entering what’s set to become one of the world’s largest trade corridors — projected to reach $682 billion,” said Zaman, now CEO of SILQ Group.

“We’re in the front seat to serve some of the most exciting, fast-growing economies that are set to shape global consumption in the coming decades, giving them greater access to products from around the world.” He added SILQ will focus on eliminating friction in the B2B supply chain and enabling MSMEs with better technology and financial inclusion.

Al-Dossary, now CEO of SILQ Financial, said: “By merging our strengths, we’re not just expanding our reach — we’re revolutionizing how digital commerce serves Gulf’s merchants and South Asia manufacturers.”

He added: “This alliance brings together the best of both worlds — deep regional expertise and world-class technology to empower every business in our ecosystem where financial services are a cornerstone.”

Language AI platform STUCK? secures six-figure pre-seed round

Saudi-based artificial intelligence startup STUCK?, which offers real-time language support for English and Arabic content, has raised a six-figure pre-seed investment round to advance its product and market reach.

The funding was led by the UK-based Mena Tech Fund, with participation from the KAUST Innovation Fund and several angel investors from Saudi Arabia.

Founded in 2022 by Asmaa Naga, STUCK? delivers AI-powered language assistance to content teams, offering contextual help in writing, editing and translation.

The company aims to remove language barriers for both native and non-native speakers operating in bilingual business environments.

STUCK? provides services via an AI-first platform that combines natural language processing with generative tools optimized for business communication and brand tone consistency.

With this latest round, STUCK? plans to scale its engineering capabilities.

Rabbit launches in Saudi Arabia with Riyadh regional HQ

Cairo-born quick commerce startup Rabbit has expanded its operations to Saudi Arabia by opening a regional headquarters in Riyadh.

The move marks Rabbit’s first major international market entry, as it looks to replicate its rapid delivery model — offering grocery and everyday essentials in under 20 minutes — within the Kingdom’s growing e-commerce landscape.

Founded in 2021 by Ahmed Yousry, Walid Shabana, Ismail Hafezz and Tarek El-Geresy, Rabbit leverages a network of dark stores and a proprietary logistics platform to optimize ultra-fast last-mile delivery.

In Egypt, Rabbit has positioned itself as a leader in q-commerce with its tech-driven approach, and it now seeks to replicate this success in the Gulf by localizing its services for Saudi consumers. 

We pride ourselves on being a hyperlocal company, bringing our cutting-edge tech and experience to transform the grocery shopping experience for Saudi households.

Ahmad Yousry, Rabbit co-founder and CEO

Rabbit’s expansion is supported by funding from investors including Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital.

Existing backers Global Founders Capital, Goodwater Capital, Hub71, Simple Capital and Foundation Ventures have also reaffirmed their commitment to the company’s growth strategy.

“We are delighted to announce Rabbit’s expansion into the Kingdom,” said co-founder and CEO Ahmad Yousry.

“We pride ourselves on being a hyperlocal company, bringing our cutting-edge tech and experience to transform the grocery shopping experience for Saudi households and delivering the best products — especially local favorites — in just 20 minutes. We’re building Rabbit Saudi for Saudis by Saudi hands.”

Sellou raises seed funding round at $3m valuation

Bahrain-based social commerce startup Sellou has closed a seed funding round at a $3 million valuation, aimed at scaling its video-powered marketplace platform across the MENA region.

Founded by Salman Al-Khalifa, Sellou allows users to create short, interactive videos to showcase and sell a wide range of products — ranging from handmade goods to general merchandise.

The platform is part of a rising wave of social commerce innovation, particularly in the Middle East, where mobile-first consumer behavior is driving the adoption of new retail formats.

Sellou’s app enables sellers to build storefronts with personalized video content and engage buyers through direct messaging, streamlining the e-commerce experience for both sides.

With fresh capital, Sellou intends to invest in expanding its engineering team, enhancing creator tools and entering new markets across the region.

Rentify raises $500k to grow rental payment platform

UAE-based proptech and fintech company Rentify has raised $500,000 in seed funding to accelerate the development of its rental payment and management platform.

The startup was founded in 2025 by Rashed Hareb and Rajneel Kumar with a vision to digitize rental transactions and improve transparency between tenants and landlords.

Rentify enables tenants to manage rental installments through a secure platform.

The company reports that over $408 million worth of property rentals have already been registered on the platform.

The seed funding will be used to further scale operations, integrate more properties across the Emirates, and introduce new fintech features including credit scoring and embedded finance solutions for tenants.

PayTic raises $4m to expand African operations

Morocco-based fintech startup PayTic has secured $4 million in funding to support its expansion into new African markets.

The round was led by AfricInvest, with participation from Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete.

Founded in 2020 by Imad Boumahdi, PayTic focuses on automating operational processes for card issuers and banks, such as reconciliation, chargeback management, and regulatory reporting.

The capital injection will enable PayTic to grow its presence in both North Africa and sub-Saharan Africa.

Haball raises $52m to grow Shariah-compliant supply chain financing

Pakistan-based fintech firm Haball has raised $52 million to scale its Shariah-compliant supply chain finance and payment solutions.

The round includes $5 million in equity and $47 million in strategic financing.

Zayn VC and Meezan Bank led the investment, with the capital earmarked for growth in Pakistan and expansion into the Middle East, starting with Saudi Arabia later this year.

Founded to address the credit gap in Pakistan’s SME ecosystem, Haball enables businesses to access Islamic finance products for inventory and procurement needs.

“Supply chain finance in Pakistan is nascent but is expected to be worth over $9 billion; driven by the severe financing gap faced by the country’s SMEs — less than 5 percent can access financing from commercial banks,” the company said in a statement.

The funding will allow Haball to introduce new services tailored to Islamic finance users, integrate further with enterprise resource planning systems, and partner with banks to onboard new business clients.


‘Barefoot with nothing’: War-displaced Sudanese go hungry in refuge town

‘Barefoot with nothing’: War-displaced Sudanese go hungry in refuge town
Updated 5 min 48 sec ago
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‘Barefoot with nothing’: War-displaced Sudanese go hungry in refuge town

‘Barefoot with nothing’: War-displaced Sudanese go hungry in refuge town

TAWILA: Crouching over a small wood-scrap fire in Sudan’s war-battered Darfur region, Aziza Ismail Idris stirs a pot of watery porridge — the only food her family have had for days.
“No organization has come. No water, no food — not even a biscuit for the children,” Idris told AFP, her voice brittle with fatigue.
Having fled a brutal paramilitary attack last month on Zamzam, once one of Sudan’s largest displacement camps, she and her five children are among the estimated 300,000 people who have since arrived in the small farming town of Tawila, according to the United Nations.
“We arrived here barefoot with nothing,” she said, recalling her escape from Zamzam camp, about a 60-kilometer (37-mile) desert trek away, also in the vast western region of Darfur.
The few aid organizations on the ground lack the means to meet the urgent needs of so many displaced people.
“Humanitarian organizations were simply not prepared to receive this scale of displacement,” said Thibault Fendler, who works with medical charity Doctors Without Borders (MSF) in Tawila.
Since war broke out in April 2023 between Sudan’s army and rival paramilitaries, the town has received waves of displaced people fleeing violence elsewhere.
“We are working to scale up our capacities, but the needs are simply enormous,” Fendler told AFP.
Tawila, nestled between mountains and seasonal farmland, was once a quiet rural outpost.
But the two-year war pitting the army against the paramilitary Rapid Support Forces (RSF) has buffeted the already-scarred Darfur region.
Entire displacement camps have been besieged and razed, while the armed group that controls the area around Tawila — a faction of the Sudan Liberation Movement, led by Abdelwahid Al-Nur — has vowed to protect those fleeing the violence.
The town’s schools, mosques and markets are crammed with people sleeping side by side, on concrete floors, under trees or in huts of straw and plastic, exposed to temperatures that can reach 40 degrees Celsius (104 Fahrenheit).
Beyond the town center, a patchwork of makeshift shelters fans out across the horizon.
Inside, families keep what little they managed to bring with them: worn bags, cooking pots or clothes folded carefully on mats laid over dry earth.
Some weary children play silently in the dirt — many malnourished, some dressed in oversized hand-me-downs, others in the clothes they had fled in.
Nearby, dozens of women line up with empty jerrycans, waiting by a lone water tank.
More queues snake around soup kitchens, with women carrying pots in hand and children on their hips, hoping to get a meal before they run out.
“When we arrived, the thirst had nearly killed us, we had nothing,” said Hawaa Hassan Mohamed, a mother who fled from North Darfur’s besieged state capital of El-Fasher.
“People shared what little they had,” she told AFP.
The war has created the world’s largest hunger crisis, with famine already declared in several parts of North Darfur state where the UN estimates that more than a million people are on the brink of starvation.
The RSF and the army continue to battle for control of territory, particularly in and around El-Fasher — the last army stronghold in Darfur — crippling humanitarian access.
“It takes a long time to get aid here. The roads are full of checkpoints. Some are completely cut off,” Noah Taylor, head of operations for the Norwegian Refugee Council, told AFP from Tawila.
“There are so many gaps in every sector, from food to shelter to sanitation. The financial and in-kind resources we have are simply not sufficient,” he said.
Organizations are scrambling to get food, clean water and health assistance to desperate families, but Taylor said these efforts are just scratching the surface.
“We are not there yet in terms of what people need,” he said.
“We’re doing what we can, but the global response has not kept pace with the scale of this disaster.”
Leni Kinzli, head of communications at the World Food Programme, said that a one-time delivery of “1,600 metric tons of food and nutrition supplies” for 335,000 people had reached Tawila last month.
But it took two weeks to reach the town, navigating multiple checkpoints and unsafe roads, she told AFP.
Aid workers warn that without urgent funding and secure access, these deliveries will even be harder, especially with the rainy season approaching.


Fierce clashes erupt in Libyan capital

Fierce clashes erupt in Libyan capital
Updated 18 min 47 sec ago
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Fierce clashes erupt in Libyan capital

Fierce clashes erupt in Libyan capital
  • Officials released no information on potential casualties or injuries
  • Residents urged to stay indoors

TRIPOLI: Violent clashes between rival armed groups erupted Monday night in the Libyan capital Tripoli, prompting the interior ministry to urge residents to stay indoors.
Heavy arms fire and explosions were heard in several areas of the capital from 9:00 p.m. (1900 GMT), AFP journalists in the city said.
Officials released no information on potential casualties or injuries.
The interior ministry of the national unity government in Tripoli in a statement urged “all citizens to stay at home for their safety.”
Local media said clashes broke out in the southern suburbs between armed groups from Tripoli and rivals from Misrata, a major port city 200 km (125 miles) east of the capital.
Libya is struggling to recover from years of unrest following a 2011 revolt that led to the fall of the late dictator Muammar Qaddafi.
It is currently divided between a UN-recognized government in Tripoli and a rival administration in the east, controlled by the Haftar family.
Despite relative calm in recent years, clashes periodically break out between armed groups vying for territory.
In August 2023, fighting between two powerful armed groups in Tripoli left 55 dead.
Several districts of the capital and its suburbs announced that schools would be closed on Tuesday until further notice.
Earlier Monday, the United Nations Support Mission in Libya and the United States Embassy in Tripoli called for calm.
They urged “all parties to de-escalate” and “refrain from any provocation, to resolve disputes through dialogue.”


Trump administration welcomes 59 white South Africans as refugees

Trump administration welcomes 59 white South Africans as refugees
Updated 25 min 54 sec ago
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Trump administration welcomes 59 white South Africans as refugees

Trump administration welcomes 59 white South Africans as refugees
  • South Africa’s government says the US allegations that the white minority Afrikaners are being persecuted are “completely false,” the result of misinformation and an inaccurate view of the country

DULLES, Virginia: The Trump administration on Monday welcomed a group of 59 white South Africans as refugees, saying they face discrimination and violence at home, which the country’s government strongly denies.

The decision to admit the Afrikaners also has raised questions from refugee advocates about why they were admitted when the Trump administration has suspended efforts to resettle people fleeing war and persecution who have gone through years of vetting.

Many in the group from South Africa — including toddlers and other small children, even one walking barefoot in pajamas — held small American flags as two officials welcomed them to the United States in an airport hangar outside Washington. The South Africans were then leaving on other flights to various US destinations.

A group of 49 Afrikaners had been expected, but the State Department said Monday that 59 had arrived.

“I want you all to know that you are really welcome here and that we respect what you have had to deal with these last few years,” Deputy Secretary of State Christopher Landau said.

President Donald Trump told reporters earlier Monday that he’s admitting them as refugees because of the “genocide that’s taking place.” He said that in post-apartheid South Africa, white farmers are “being killed” and he plans to address the issue with South African leadership next week.

That characterization has been strongly disputed by South Africa’s government, experts and even the Afrikaner group AfriForum, which says farm attacks are not being taken seriously by the government.

South Africa’s government says the US allegations that the white minority Afrikaners are being persecuted are “completely false,” the result of misinformation and an inaccurate view of the country. It cited the fact that Afrikaners are among the richest and most successful people in the country.

The view from South Africa

Speaking at a business conference in Ivory Coast, South African President Cyril Ramaphosa said Monday that he spoke with Trump recently and told him his administration had been fed false information by groups who were casting white people as victims because of efforts to right the historical wrongs of colonialism and South Africa’s previous apartheid system of forced racial segregation, which oppressed the Black majority.

“I had a conversation with President Trump on the phone and he asked me, ‘What’s going on down there?’ and I told him that what you are being told by those people who are opposed to transformation back in South Africa is not true,” Ramaphosa said.

Afrikaners make up South Africa’s largest white group and were the leaders of the apartheid government, which brutally enforced racial segregation for nearly 50 years before ending it in 1994. While South Africa has been largely successful in reconciling its many races, tensions between some Black political parties and some Afrikaner groups have remained.

The Trump administration has falsely claimed white South Africans are having their land taken away by the government under a new expropriation law that promotes “racially discriminatory property confiscation.” No land has been expropriated.

Trump has promoted the allegation that white farmers in South Africa are being killed on a large scale as far back as 2018 during his first term.

Conservative commentators have promoted the allegation about a genocide against white farmers, and South African-born Trump ally Elon Musk has posted on social media that some politicians in the country are “actively promoting white genocide.”

South Africa has extremely high levels of violent crime, and white farmers have been killed in rural Afrikaner communities. It has been a problem for decades. The government condemns those killings but says they are part of the country’s problems with crime.

“There is no data at all that backs that there is persecution of white South Africans or white Afrikaners in particular who are farmers,” South African Foreign Minister Ronald Lamola said Monday. “White farmers get affected by crime just like any other South Africans who do get affected by crime. So this is not factual, it is without basis.”

Trump administration says white South Africans have been targeted

Landau said many of those who arrived Monday experienced “threatening invasions of their homes, their farms and a real lack of interest or success of the government in doing anything about this situation.”

They all had met stringent vetting standards, including the ability to assimilate into American culture, Landau said. Critics of the refugee program suggest that refugees aren’t properly vetted, though supporters say they go through some of the strictest vetting of anyone seeking to come to America.

Trump indefinitely suspended the refugee resettlement program — which historically had widespread bipartisan support — on his first day in office. A month later, he announced a plan to resettle white South African farmers and their families as refugees.

Supporters of the refugee program question how the administration can justify admitting this small group while keeping out others from conflict zones around the world.

Sen. Jeanne Shaheen, a New Hampshire Democrat, called it an effort to “rewrite history.”

“The Administration must clarify why these individuals qualify for refugee status and resettlement in the US and why they have been prioritized over refugees like Afghans, Burmese Rohingya and Sudanese who have fled their homes due to conflict and persecution,” she said in a statement Monday.

Who can come from South Africa under Trump’s order

According to the US Embassy in South Africa, applicants have to be South African citizens who are of Afrikaner ethnicity or a member of a racial minority, and they have to be able to show a history of or a fear of persecution.

Afrikaners, who are the descendants of mainly Dutch and French colonial settlers, number around 2.7 million among South Africa’s population of 62 million, which is more than 80 percent Black.

The US refugee program was created by Congress in 1980, and groups have sued to restart it after Trump’s halt.

Traditionally, to qualify as a refugee, applicants must demonstrate a well-founded fear of persecution due to race, religion, nationality, membership in a particular social group, or political opinion. Refugees are distinct from asylum-seekers because refugees must be outside of the US to qualify.

A network of resettlement agencies generally helps refugees settle in their new homes, and they get 90 days of federal assistance for things like rent. The Episcopal Church’s migration service, however, is refusing a directive from the federal government to help resettle the white South Africans, citing the church’s longstanding “commitment to racial justice and reconciliation.”


600+ film and media insiders sign open letter demanding BBC airs delayed Gaza documentary

600+ film and media insiders sign open letter demanding BBC airs delayed Gaza documentary
Updated 44 min 19 sec ago
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600+ film and media insiders sign open letter demanding BBC airs delayed Gaza documentary

600+ film and media insiders sign open letter demanding BBC airs delayed Gaza documentary
  • Actors Susan Sarandon, Indira Varma, Miriam Margolyes, Maxine Peake and Juliet Stevenson among those calling for immediate broadcast of ‘Gaza: Medics Under Fire’
  • The film was delayed pending an investigation into another documentary, “Gaza: How to Survive a Warzone,” after it emerged the narrator of that film is the son of a Hamas official

DUBAI: More than 600 prominent figures from the film and media industries have signed an open letter urging the BBC to broadcast the delayed documentary “Gaza: Medics Under Fire.”

The signatories include actors such as Susan Sarandon, Indira Varma, Miriam Margolyes, Maxine Peake and Juliet Stevenson, along with journalists, filmmakers and other industry professionals. One-hundred-and-thirty of them chose to remain anonymous; at least 12 were said to be BBC staff members.

The letter, addressed to BBC Director General Tim Davie, states: “Every day this film is delayed, the BBC fails in its commitment to inform the public, fails in its journalistic responsibility to report the truth, and fails in its duty of care to these brave contributors.

“No news organization should quietly decide behind closed doors whose stories are worth telling.”

The film was originally scheduled to air in January. BBC bosses said they decided to delay it while an investigation is carried out into another documentary, “Gaza: How to Survive a Warzone,” which was pulled from the schedules when it emerged that the narrator of that film is the son of a Hamas official.

Samir Shah, chairperson of the BBC, said this revelation was “a dagger to the heart of the BBC’s claim to be impartial and to be trustworthy” and that was why he and fellow board members were “determined to ask the questions.”

The writers of the letter said: “This is not editorial caution. It’s political suppression. The BBC has provided no timeline, no transparency. Such decisions reinforce the systemic devaluation of Palestinian lives in our media.”

“Gaza: Medics Under Fire” production company Basement Films said in the letter that it was “desperate for a confirmed release date in order to be able to tell the surviving doctors and medics when their stories will be told.”

The document concluded with a demand for the film to be released “NOW.”

A spokesperson for the BBC told Variety magazine the documentary will be broadcast “as soon as possible,” but the organization had taken “an editorial decision not to do so” while there was an “ongoing review” of the other Gaza-related film.


Israel’s West Bank land registration is a tool for annexation, NGO says

Israel’s West Bank land registration is a tool for annexation, NGO says
Updated 12 May 2025
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Israel’s West Bank land registration is a tool for annexation, NGO says

Israel’s West Bank land registration is a tool for annexation, NGO says

RAMALLAH: An Israeli rights group has denounced a government decision to launch extensive land registration for parts of the occupied West Bank, saying it could help advance annexation of the Palestinian territory.

“It is a tool for annexation,” said Yonatan Mizrachi of the Settlement Watch project at Israeli nongovernmental organization Peace Now.

The West Bank, which Israel has occupied since 1967, has no comprehensive land registry, with some areas unregistered or residents holding deeds from before the Israeli occupation.

The Israeli security Cabinet on Sunday decided to initiate a land registration process in the West Bank’s Area C, which covers more than 60 percent of the territory and is under full Israeli control.

Though the process would likely take “years” according to Mizrachi, he said that Palestinians in Area C could lose land if Israeli authorities do not accept their claim to it.

This might lead to “a massive land theft,” Peace Now said, adding that the process could result “in the transfer of ownership of the vast majority of Area C to the (Israeli) state.”

“The Palestinians will have no practical way to realize their ownership rights,” the anti-settlement group said.

Some Israeli ministers have advocated the annexation of the West Bank, home to around 3 million Palestinians as well as some 500,000 Israelis living in settlements that are illegal under international law.

Finance Minister Bezalel Smotrich, a far-right politician who lives in a settlement, has said that 2025 would be the year Israel extends its sovereignty over parts of the West Bank.

To Mizrachi, the government’s decision was primarily “about ... the places where they want to expand settlements,” including in areas considered state land.

He mentioned remarks by Defense Minister Israel Katz, who praised the move in the official statement announcing it.

Katz said that launching land registration “is a revolutionary decision that brings justice to Jewish settlement in Judea and Samaria,” the biblical name that the Israeli government uses to refer to the West Bank.

The process will lead to the “strengthening, establishment and expansion” of settlements, Katz was quoted as saying.

He also said it would block “attempts to seize land” by the Palestinian Authority, which exercises limited self-rule in parts of the West Bank but not Area C.

Mohammed Abu Al-Rob, director of the Palestinian Authority’s communication center, said that the decision was “a dangerous escalation of Israel’s illegal policies aimed at entrenching its occupation and advancing de facto annexation.”

Area C is “an inseparable part” of the rest of the Palestinian territories, he said.

Abu Al-Rob called on the international community to “reject this unlawful decision and to take immediate, concrete action to thwart its implementation.”