G42 buys equity stake in Egypt’s Benya Technologies
Summary
Partnership to provide a stepping stone for Benya to expand not only in Egypt but also across Middle East. As part of the agreement, G42 will have a seat in Benyas Board of Directors.G42, a UAE-based AI and cloud computing technology company, announced a strategic equity-based partnership with Egypts ICT infrastructure provider Benya Technologies to deliver AI and critical telecom infrastructure in the North African state.Through the partnership, G42 aims to provide the capital and technologies needed to develop Egypts digital sector further, delivering artificial intelligence and critical digital infrastructure, such as data centres, telecommunications towers, and cloud technology.G42s investment in Benya Technologies illustrates the companys commitment to Egypt as a strategic market for growth and entry point to the broader MEA region.The partnership was signed during Gitex Global in Dubai by Mansoor Al Mansoori, G42 Group Chief Operating Officer, and Ahmed Mekky, Chairman, Founder, and CEO of Benya Technologies.As part of the agreement, G42 will have a seat in Benyas Board of Directors.As a board member and strategic investor, G42 will collaborate with Benya Technologies to usher in the next era of digital growth for Egypt and the North African region. We look forward to strengthen the technology sector throughout the country and the wider region, Mansoor Al Mansoori, Group Chief Operating Officer, G42, said.Ahmed Mekky, Chairman and CEO of Benya Technologies, said that the investment by G42 in Benya Technologies comes as confirmation and support for the groups achievements and the groups successful projects in both public and private sectors, including banking and telecommunications.Mekky added that this cooperation will serve Benya Technologies expansion plans in Egypt and Middle East focusing on modern and advanced technologies.