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Experts Explore Unprecedented Artificial Intelligence (AI) Potential as Expand North Star Enters Day 2

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North Star

Startups driving AI innovation, VC Funding and the Indian-UAE technology ties key highlights on Day 2

DUBAI, United Arab Emirates, October 16, 2023/APO Group/ — 

AI is booming, and startups are at the heart of this revolution. OpenAI triggered the current AI phenomenon when it launched ChatGPT in November last year. Today, generative AI has the potential to generate up to $4.4 trillion in value across industries.   

Expand North Star (ENS) hosted AI Monday today to showcase over 400 AI-infused startups. Moreover, AI was a common theme across all the conference tracks.

A panel discussion titled “Generative AI Market Map worth $98 Billion: VCs Hungry for Startups in AI & DeepTech: Overhyped or the Next Frontier?” discussed how AI startup innovations are transforming the enterprise. The session was moderated by Aly Madhavji, Managing Partner, Blockchain Founders Fund.

During the session, the panelists discussed challenges for early-stage startups and what due diligence is required of them as they grow. Dhianu Das, Founder, Agility Ventures, India, Dan Bowyer, Partner, SuperSeed VC, UK and Chirag Gupta, Managing Partner, 8X Ventures, India, noted that a challenging macro environment and tighter spending are pushing companies to reduce costs. To address these pain points, organisations are turning to AI has proved invaluable in helping businesses streamline operations. “Eventually, every business will be an AI business. This demonstrates how transformative AI is. To me, AI is this generation’s internet moment,” said Bowyer.

UAE, Saudi, Lead MENA Fundraising

The landmark global gathering welcomes over 1,800 startups across GITEX Global and Expand North Star from more than 100 countries

According to the  Q3 2023 MENA Venture Investment Premium Report (https://apo-opa.info/45u1maV) by startup data platform MAGNiTT, MENA venture funding in the third quarter saw $250M raised across 78 deals, a 32% increase compared to Q2 of 2023. This contributed to $1.4 billion raised through 286 transactions in the first nine months of 2023. Saudi Arabia and UAE led the region in capital raised, with the Kingdom reporting a 172% QoQ increase. Conversely, the Emirates registered a 55% upswing in new funding. By the number of transactions, UAE has seen the most activity, capturing a third of all deals closed in MENA for the first nine months of 2023.

Speaking at Expand North Star AI Monday, MAGNiTT Founder and CEO Philip Bahoshy , attributed to Q3 performance to a series of mega deals ($100 million plus investment deals) across the region. In a media note ahead of the report’s launch, Baloshy noted the rise in new VC funds. In MENA, UAE’s Chimera Capital and Aliph Capital have launched new funds, and in Saudi Arabia IMPACT46 and KAUST have raised funds to deploy in local startups. “We’ll be keenly tracking the pace at which this dry powder translates into investments. In fact, investment activity in Q4’23 will be a good indicator of the strength of 2024’s VC landscape.”

India in the Spotlight as India-UAE Links Deepen

Expand North Star 2023 hosts the largest gathering of Indian startups ever outside India. As India and the UAE continue to strengthen their already solid economic ties, there’s growing interest among India’s tech titans for the UAE’s emerging digital economy. A panel comprising some of India-origin most successful entrepreneurs discussed what the evolving India-UAE story means for startups and the next logical steps for startups from the sub-continent to establish themselves in the Arab world’s second-largest economy.

Rohit Chennamaneni, Founder, Darwinbox, Abhiraj Singh Bhal, Co-Founder & CEO of Urban Company, Amit Zutshi, Founder and Managing Partner of Morphosis Venture Capital Limited, Ramakant Sharma, Founder, LivSpace collectively discussed scaling across borders. They recommended a base revenue of at least $50 million before considering international expansion. To determine true product-market fit, it’s crucial for B2B companies, especially in enterprise technology, to have a strong presence and see through a renewal cycle, the audience heard.

According to the expert panelists, physical presence and local expertise, tailored to the region’s context, are highly effective in gaining a competitive edge. Ultimately, the core principles of B2C should remain consistent, but all other factors, including services, operating models, and initial go-to-market strategies, should be adapted for the specific market.

Hosted by the Dubai Chamber of Digital Economy and organised by Dubai World Trade Centre (DWTC) Expand North Star marks its largest-ever edition this year, from 15-18 October 2023, at its new Dubai Harbour venue. The landmark global gathering welcomes over 1,800 startups across GITEX Global and Expand North Star from more than 100 countries. More than 1,000 investors with a combined total of over US$ 1 trillion under management are in Dubai, which is rapidly emerging as the heart of the world’s digital economy.

Distributed by APO Group on behalf of Expand North Star.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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