Sunday, 20 Oct 2019 | 21 Safar 1441
Oman growing as a hub for tech investors, ranked fifth in the MENA region

Oman growing as a hub for tech investors, ranked fifth in the MENA region

While the UAE nonetheless had the biggest quantity of bargains in 2018, Tunisia, Bahrain, Oman, Yemen and Syria all had larger development prices year-on-year than Emirates, according to the most recent ‘State of Digital Investments in MENA by Arabnet’, a holistic evaluation of the MENA technologies investors and investments.

“Oman and Yemen witnessed the biggest percentage of change, in terms of deals, from last year (129 per cent and 250 per cent respectively),” it stated.

“Oman has moved up two places since 2017, currently ranking fifth; this is a clear reflection of the investment prowess of the Oman Technology Fund (OTF),” the report stated.

Eng Yousuf al Harthi, CEO of OTF stated, “Arabnet’s report reflects the outcomes of the Oman Technology Fund’s team function in the current previous via the 3 investment programmes which are Techween, Wadi Accelerator and Jasoor Ventures.

“This is because of the investment efficiency of OTF that it has invested in 22 technology companies compared to 17 companies in 2017.”

According to the report, the UAE and Saudi Arabia dominate in the GCC region, Lebanon in the Levant, and Egypt in North Africa. “The investor community continues to be concentrated in the four main countries that contribute to 71 per cent of the investor pie. The UAE hosts the largest proportion of all MENA investors (31 per cent ), while Saudi Arabia, Lebanon, and Egypt combined account for 40 per cent.”

 

 

The quickest growing segment of the investor neighborhood more than the previous 5 years represents accelerators, displaying an boost of 32 per cent from 2013 to 2018.

Examining the quantity of bargains per nation more than the final six years, the UAE (348) attributes nearly double the quantity of bargains in Egypt and Lebanon. The subsequent set of nations with the highest quantity of bargains contains Egypt, Lebanon, Saudi Arabia, and Jordan, with an approximate typical of 200 bargains per nation.

Information Source: Muscat Daily

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