The Arab Republic of Egypt ranked first in the number of investment deals in emerging projects in the MENA region during 2019, while the UAE ranked first in terms of the value of those deals, and Saudi Arabia ranked third in terms of the number and value of deals, and the three countries accounted for 60% of total number of deals in the region.
According to a report issued by Magnet Company, the year 2019 achieved a new record, recording 564 investments in startups in the Middle East and North Africa, and the value of those investments amounted to $704 million.
The report showed that the number of deals increased by 31 percent, while the value of total financing increased by 12 percent compared to 2018, in case that the exit deals are excluded from the companies of Souq and Karim. Last year, according to the report, represents a strong end to a large decade for the startup system, as 2009 witnessed $15 million in 5 deals, meaning that total financing increased at a CAGR of 47 percent, while the deals increased at a CAGR of 60 per cent during the past decade.
Source (Al-Arabiya.net website, Edited)
