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AI + Innovation (MENA) 
Infrastructure 
E-Finance, Fawry report higher profits in 1Q 2023
Cloud hosting boom drives revenue growth
Fintech startup Axis launches following USD 8.3 mn funding round
The company is backed by Tiger Global, Sawari Ventures and Raba
Taqa Arabia to establish JV with Saudi gas distributor. PLUS: Network International, Moussy Malt
This is Taqa Arabia’s first step into the kingdom
EIB could invest EUR 50 mn a year in Egypt-focused VC, PE firms
The lender is considering investing in Sawari Ventures’ next fund
Meet our founder of the week: Hadeel Fayek, founder and CEO of Joviality
Joviality produces natural skin and hair beauty products
Telecom Egypt sale wraps
The sale was more than 3x oversubscribed
ADES International, Aramco Trading reportedly push Saudi IPOs
Gulf IPOs are down this year amid a decline in oil prices
Ashok Leyland could partner with El Nasr Auto on EVs
El Nasr Auto has been looking for a new foreign partner since talks with Dongfeng ended in 2021
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