{"id":115676,"date":"2026-06-10T00:00:00","date_gmt":"2026-06-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?p=115676"},"modified":"2026-06-10T06:41:43","modified_gmt":"2026-06-10T06:41:43","slug":"menas-publicly-listed-tech-players-are-trailing-their-global-counterparts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/","title":{"rendered":"MENA\u2019s publicly-listed tech players are trailing their global counterparts"},"content":{"rendered":"

Middle <\/strong>East tech stocks are approaching bear-market territory<\/strong>, with Magnitt\u2019s new Magnitt Tech Index (MGTI) down 17.8% YTD on the back of the regional conflict, the venture intelligence platform said in a press release (pdf)<\/a>. <\/p>\n

MGTI tracks 15 tech firms across the UAE, Saudi Arabia, Morocco and Egypt worth a <\/strong>combined USD 11.1 bn<\/strong> \u2014 six in Saudi Arabia, six in the UAE, two in Egypt, and a single company in Morocco. Quantitative benchmarks used for inclusion require companies to have at least 50% of their revenues attributed to proprietary tech, a free market cap no less than USD 50 mn, and a daily average trading volume of USD 500k or more<\/p>\n

Trailing the global peer set:<\/strong> MGTI returned 76% over three years (2023-25), against 133% for MSCI\u2019s emerging markets tech index, the MSCI EM IT. The gap reflects MENA tech\u2019s limited exposure to AI and semiconductors, plus the devaluation of the EGP, which erased some 38% of Fawry and 31% of e-finance\u2019s USD value. <\/p>\n

IN CONTEXT- <\/strong>AI-linked firms have driven one of the most sustained stock market rallies globally in recent memory. Bloomberg reported last month that the AI rally is currently delivering momentum investors their best returns in decades. Some individual names have seen staggering gains \u2014 SanDisk shares, buoyed by AI\u2019s data storage demands, have climbed more than 600% this year. <\/p>\n","protected":false},"excerpt":{"rendered":"

Venture intelligence platform Magnitt says the region\u2019s top 15 tech stocks returned 76% over three years, in contrast to MSCI EM IT\u2019s 133%<\/p>\n","protected":false},"author":1,"featured_media":115677,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2635],"tags":[2782,2586,2613,2538,2605,2563,2812,2634,2562],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-115676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-scorecard","tag-ai","tag-capital-markets","tag-egypt","tag-enterpriseam","tag-morocco","tag-saudi-arabia","tag-tech","tag-the-scorecard","tag-uae","wpautop","entry"],"acf":{"mongo_id":"0b4a086e-1d97-47de-b2d5-964b2a503ae4","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2365.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Out of step","related_issue":[115661],"teaser":"Venture intelligence platform Magnitt says the region\u2019s top 15 tech stocks returned 76% over three years, in contrast to MSCI EM IT\u2019s 133%"},"yoast_head":"\nMENA\u2019s publicly-listed tech players are trailing their global counterparts - MENA+ Edition<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MENA\u2019s publicly-listed tech players are trailing their global counterparts\" \/>\n<meta property=\"og:description\" content=\"Venture intelligence platform Magnitt says the region\u2019s top 15 tech stocks returned 76% over three years, in contrast to 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