Business News & Insight Archives - MEA Markets https://meamarkets.digital/category/articles/business-news-insight/ Business news from the Middle East Wed, 21 May 2025 10:40:05 +0000 en-GB hourly 1 https://wordpress.org/?v=6.7.2 UTRIX Accelerates Growth, Presence and Expertise in MEA to Meet Poultry Farming Challenges https://meamarkets.digital/utrix-accelerates-growth-presence-and-expertise-in-mea-to-meet-poultry-farming-challenges/ Wed, 21 May 2025 10:40:04 +0000 https://meamarkets.digital/?p=39623 UTRIX, a leading provider of innovative feed solutions in the Middle East, has announced ambitious growth plans.

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happy free range organic chicken in the meadow

UTRIX, a leading provider of innovative feed solutions in the Middle East, has announced ambitious growth plans. The company is increasing its production capacity, hiring new talent, and launching new nutritional solutions tailored to the region’s specific challenges.

Michel Daher, Business Support Director at UTRIX explains: “We have the team, the market knowledge, and the customer connections to make a real difference. Being from the region, we understand the unique challenges our customers face, such as climate and feed quality issues. We are committed to delivering solutions that truly meet their needs and support bird performance, health, and efficiency.”

Growing presences with more offices

To support the mission of UTRIX, the company has intensified its efforts to expand its presence, opening a new regional office and warehouse in Abu Dhabi to better serve customers in the so-called GCC (Gulf Cooperation Council) countries including UAE, Oman, Qatar, Kuwait, and Bahrain. “The new hub in Abu Dhabi allows us to deliver faster service of our innovative feed solutions and expert technical services to this part of the Middle East,” Daher says.

In addition, UTRIX also expanded in the non GCC countries and opened an office in Jordan to streamline product registration and manage direct sales in Jordan. Also its distributor network has been expanded. These steps made over the past 2 years have increased the total number of staff from 60 in 2020 to over 140 today.

Expanding capacity, increasing export volume

The expansion of offices, staff and a growing distributor network in the Middle East reflects UTRIX’s broader export ambitions. From 2015 to 2022, only 10% of the company’s production was exported from its home base in Lebanon. In Q1 2025, this figure rose to 18%, with a bold target of reaching 35% export share by the end of 2025. “It is a big goal, but with the expansion of our team, the addition of highly skilled technical staff, and our targeted market strategies, we are confident we will achieve it,” Daher says.

To meet growing demand, UTRIX is expanding its manufacturing operations at its manufacturing facility in Zahle, Lebanon. Previously operating on a single 8-hour shift, the company is now preparing to add a second shift and is recruiting additional operators and shift leaders. The facility has 4 fully automated production lines, producing premixes, concentrates, powder and liquid feed additives and specialties.

Health, performance, and welfare solutions

Besides growing in volumes, the company is also strengthening its product portfolio to address key challenges faced by poultry farmers in the MEA region, including health, heat stress, and performance issues. Daher explains: ”Innovation has been integral to UTRIX’s DNA from the start and this year we are excited to roll out a series of specialized nutritional, health, and performance solutions across the regions we operate in.” Recognizing the needs of smaller farms that often lack feed mills, UTRIX is also expanding its portfolio of liquid feed additives designed for easy use via drinking water.

In addition to the strong growth in poultry production, UTRIX is also keeping a close eye to the rising demand in large animal farming in the Middle East. “Our company is very committed to providing trusted, high-quality solutions that support the health, wellbeing, and performance of broilers, breeders, and layers across the region. At the same time, we see opportunities to develop specialized feed additives for dairy cows and other large livestock in the near future. Also here, we believe we can make a big difference related to heat stress and efficiency problems that we see in large animals in our region,” Daher concludes.

More information can be found at www.utrix.com.

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The Walt Disney Company and Miral Announce Plans for Disney Theme Park and Resort on Yas Island, Abu Dhabi https://meamarkets.digital/the-walt-disney-company-and-miral-announce-plans-for-disney-theme-park-and-resort-on-yas-island-abu-dhabi/ Wed, 14 May 2025 10:32:29 +0000 https://meamarkets.digital/?p=39541 The Walt Disney Company and Miral, Abu Dhabi's leading creator of immersive destinations and experiences, announced an agreement to create a landmark Disney theme park resort in Abu Dhabi, United Arab Emirates.

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Happy friends in amusement park on a summer day

The Seventh Disney Destination Will Extend the Company’s Global Reach and Captivate New Audiences in a Thriving, Dynamic Hub.

The Collaboration Exemplifies Abu Dhabi’s Continued Commitment to Sustainable Growth, Positioning Travel and Tourism as Key Pillars of a Thriving Future.

The Walt Disney Company and Miral, Abu Dhabi’s leading creator of immersive destinations and experiences, announced an agreement to create a landmark Disney theme park resort in Abu Dhabi, United Arab Emirates. The waterfront resort will be located on Yas Island, a world-class destination for entertainment and leisure, connecting travelers from the Middle East and Africa, India, Asia, Europe, and beyond. This seventh Disney theme park resort will combine Disney’s iconic stories, characters and attractions with Abu Dhabi’s vibrant culture, stunning shorelines, and breathtaking architecture.

“Abu Dhabi is a place where heritage meets innovation, where we preserve our past while designing the future,” His Excellency Mohamed Khalifa Al Mubarak, Chairman at Miral, said. “The collaboration between Abu Dhabi and Disney demonstrates the remarkable results of combining visionary leadership and creative excellence. What we are creating with Disney in Abu Dhabi is a whole new world of imagination — an experience that will inspire generations across the region and the world, creating magical moments and memories that families will treasure forever. Through the development of unique attractions and experiences, Abu Dhabi continues to be a destination of choice for the world.”

The new resort will be fully developed and built by Miral. Disney and its legendary Imagineers will lead creative design and operational oversight to provide a world-class experience. Miral, which has developed a number of family entertainment destinations on Yas Island, Abu Dhabi in collaboration with American and European brands, will operate the resort.

“This is a thrilling moment for our company as we announce plans to build an exciting Disney theme park resort in Abu Dhabi, whose culture is rich with an appreciation of the arts and creativity,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “As our seventh theme park destination, it will rise from this land in spectacular fashion, blending contemporary architecture with cutting edge technology to offer guests deeply immersive entertainment experiences in unique and modern ways. Disneyland Abu Dhabi will be authentically Disney and distinctly Emirati – an oasis of extraordinary Disney entertainment at this crossroads of the world that will bring to life our timeless characters and stories in many new ways and will become a source of joy and inspiration for the people of this vast region to enjoy for generations to come.”

The UAE is located within a four-hour flight of one-third of the world’s population, making it a significant gateway for tourism. The UAE is home to the largest global airline hub in the world, with 120 million passengers traveling through Abu Dhabi and Dubai each year.

“This groundbreaking resort destination represents a new frontier in theme park development,” said Josh D’Amaro, Chairman, Disney Experiences. “Our resort in Abu Dhabi will be the most advanced and interactive destination in our portfolio. The location of our park is incredibly unique – anchored by a beautiful waterfront – which will allow us to tell our stories in completely new ways. This project will reach guests in a whole new part of the world, welcoming more families to experience Disney than ever before. Ultimately, it will be a celebration of what’s possible when creativity and progress come together.”

“Bringing a Disney theme park resort to Yas Island marks a historic milestone in our journey to further advance the island’s position as a global destination for exceptional entertainment and leisure,” said Mohamed Abdalla Al Zaabi, Group CEO, Miral. “Together, we are creating a place of boundless innovation, where the vision of our leadership continues to inspire the world.” The development of unique experiences will support sustained economic growth in Abu Dhabi and beyond.

Upon completion, the new theme park resort will offer signature Disney entertainment, themed accommodations, unique dining and retail experiences, and storytelling in a way that celebrates both the heritage of Disney and the futuristic and cultural essence of Abu Dhabi.

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Why the Middle East Is Leading Europe on Plastic Waste https://meamarkets.digital/why-the-middle-east-is-leading-europe-on-plastic-waste/ Tue, 15 Apr 2025 13:30:59 +0000 https://meamarkets.digital/?p=39201 Europe is stagnating when it comes to plastic environmental policies. Rather than encouraging sustainable technologies, the EU is muddled about new technologies - continuing to live in the past with environmentally-damaging old-fashioned plastic.

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PLASTIC POLLUTION in the jungle.

Hampered by NGOs and bureaucratic and anti-competitive interests, Europe must look to examples in the Middle East for effective sustainability policy.

Europe is stagnating when it comes to plastic environmental policies. Rather than encouraging sustainable technologies, the EU is muddled about new technologies – continuing to live in the past with environmentally-damaging old-fashioned plastic.  It is by now obvious that their policies of “reduce, re-use, recycle” are inadequate.

By contrast, the Middle East has encouraged sustainable technologies by making oxo-biodegradable plastic compulsory for a wide range of consumer products, after carrying out extensive due-diligence. In Yemen d2w is specifically mandated.

Europe is behind, and failing on a catastrophic level.

Michael Laurier, CEO of environmental technology leaders Symphony Environmental, argues that Europe is being hampered by NGOs and bureaucrats and anticompetitive lobbyists who are putting special interests ahead of environmental needs.

“In the European Parliament in December 2022, the police found suitcases stuffed with banknotes, and then in February this year we heard that that the EU Commission had been paying NGOs to lobby for the policies of former Commissioner Frans Timmermans; now we hear that in March this year the authorities raided more than 20 addresses and sealed two offices in the European Parliament as part of a spiralling bribery probe into lobbying activities.  At the same time the EU has the nerve to lecture the Middle East on its systems of government.”

The Middle East, by contrast, is thriving.

“Lobbyists for competing commercial interests persuaded the members of the European Parliament’s Environment Committee in 2018 to pass legislation against what they called ‘oxo-degradable’ plastic without a proposal from the EU Commission, without any impact assessment or socio-economic analysis, and without any dossier from their own scientific experts, ECHA.”

“People have been confused into thinking that this legislation applies to oxo-biodegradable plastic (which it does not) and this has delayed the adoption of the technology in the EU, resulting in thousands of tonnes of ordinary plastic escaping into the European continent and its coastal waters, where it will lie or float around for decades.

“By contrast, the UAE, Saudi Arabia, Jordan and Bahrain have been implementing a broad initiative to combat plastic pollution for years, phasing out conventional plastics and mandating more eco-friendly alternatives. Their government-appointed experts studied d2w technology, to ensure that it causes the plastic to biodegrade without any human intervention in conditions typically found in the open environment, leaving no microplastics or harmful residues.”

Laurier concludes: “Governments worldwide are using and evaluating oxo-biodegradable technology, but the EU remains stuck in the past. Plastic policy reform is needed from their recently-elected Parliament.

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South Africa: Blockchain and Smart Contracts to Transform Agriculture https://meamarkets.digital/south-africa-blockchain-and-smart-contracts-to-transform-agriculture/ Wed, 09 Apr 2025 16:11:51 +0000 https://meamarkets.digital/?p=39196 Blockchain technology is transforming transactions by making them faster, more cost-effective, and secure, with improved transparency and traceability.

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Amazing agriculture sunset landscape

The farmers can then capture that information in a smart contract to effectively tokenise the carbon credits under their management.

Blockchain technology is transforming transactions by making them faster, more cost-effective, and secure, with improved transparency and traceability. Its growing adoption spans sectors from cryptocurrency to supply chain management. In the agricultural finance space, Nedbank’s Cobus de Bruyn and Adele Jones explain how blockchain and smart contracts are unlocking new opportunities.

“Very simply, blockchain technology creates a network with memory. Everybody in the network has a unique address and, from an audit trail perspective, all interactions on the network are covered automatically with the latest innovations in cryptography,” says Jones.

“There are 2 types of configurations of these networks: one where the network is a public blockchain that anyone can join, for example, the Bitcoin network. The other is a permissioned blockchain, where the network is locked down for specific participants. Once the network has been established, every participant in the network has a unique address and can implement a vast and versatile array of transactions.”

Jones adds that smart contracts are code that can execute on the network ecosystem and automate interactions between participants in the network. “By codifying agreements and improving the traceability of data on the network, trust is increased, as well as security and transparency among member organisations.”

How does this technology add value to the agricultural sector?

Agriculture is an early adopter of technology, which is one of the drivers behind its success. In agriculture, there are many processes and procedures to follow, such as managing finances, accounting and production processes, imports and exports, and interacting with stakeholders – including your bank and suppliers.

“Smart contracts are self-executing digital agreements; they automatically execute when predetermined conditions are met, streamlining financial transactions by automating processes that would traditionally require human intervention. This automation reduces operational expenses, minimises errors, and enhances trust among parties.

“There are so many examples in agriculture where smart contracts and blockchain can be gamechangers, so I’ll just touch on 3,” says De Bruyn. “The first is import and export, which involves negotiation, administrative work, and processes and verifications that are cumbersome and, to some extent, expensive. Smart contracts allow these processes and procedures to be automated, shortening the time of the process, while also making it more secure.”

Another example is trade, which is streamlined by smart contracts that automate and facilitate payment solutions. With the surge in agricultural trade platforms, the use of smart contracts means that innovations are constantly being brought to the table.

De Bruyn adds that, from the bank’s perspective, smart contracts can expedite and streamline the process between getting credit approval from a commercial bank and receiving the finance. This means that the whole process – from sending facility letters, giving instructions and registering securities – is automated, reducing the time and administrative tasks usually associated with it.

This technology is new, but the opportunities are massive, so it’s a very exciting development for organisations like Nedbank, for example. “Reducing or eliminating manual processes for our clients is what we’re seeking to achieve, but we’re also using the technology to enhance our systems and processes so that we can truly provide next-level service to the agriculture sector,” says De Bruyn.

“We are at the next revolution of money, and we can build smart contracts that can give instructions to smart money. Web 3.0, which includes blockchain smart contracts, the metaverse, tokenisation and more, will replace the existing Web 2.0 as we know it, which hosts the www dot websites that we’re all familiar with.

“Everything will change with Web 3.0, and it’s important that we, as a commercial bank, are ready. Our agricultural clients want fast processes. They want frictionless, cost-effective solutions. They embrace technology, and we want to provide it to the agricultural community.”

Let’s talk about sustainability

Jones highlights the importance of addressing the sustainability implications of blockchain, particularly in light of growing environmental concerns around emerging technologies.

“There is a perception that blockchain technology consumes a great deal of electricity, which is not strictly true. The Bitcoin network does use a significant amount of power, but it’s important to remember that there are different blockchain solutions.

“The one that Nedbank is exploring, for example, has modest electricity requirements. Depending on the underlying consensus algorithm, it’s possible to achieve a 99% energy reduction in your deployment solution. This is supported by industry research done by the World Economic Forum that was published in 2021.”

Jones adds that blockchain solutions provide a simple way to manage carbon credits, which can also be leveraged for tax deduction purposes. “For example, farmers can map out their land and use formal carbon credit standard bodies like the Verra Registry – the world’s largest carbon credit registry – to certify the carbon credits under their control. The farmers can then capture that information in a smart contract to effectively tokenise the carbon credits under their management.”

While smart contract technology is already being deployed internationally and in South Africa, De Bruyn notes that its use is not yet as widespread.

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Premier Sports Network Celebrates International Growth Following a Decade in Business https://meamarkets.digital/premier-sports-network-celebrates-international-growth-following-a-decade-in-business/ Wed, 02 Apr 2025 08:15:32 +0000 https://meamarkets.digital/?p=39186 Leading private network for the global sports industry, Premier Sports Network [PSN], is marking ten successful years in business with the expansion of its physical presence from London and New York, to the Middle East.

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Global communication network concept with interconnected business nodes and human resources collaboration across worldwide platforms.

Leading private network for the global sports industry, Premier Sports Network [PSN], is marking ten successful years in business with the expansion of its physical presence from London and New York, to the Middle East.

Since it was established in 2015, PSN has evolved from being a events-based organisation into an impressive global network, which operates as a hub for over 42,000 members from across the sports industry to connect with peers in a private and exclusive setting.

Having established an unrivalled reputation for its capability to connect key stakeholders across by the globe by driving business development and collaboration amongst elite-level sports organisations, PSN has successfully accelerated membership growth, while cementing its service offering in delivering high quality networking, partnerships, recruitment services and the delivery of educational content to athletes and executives across the industry.

As such, the impressive private network has marked 10 successful years in operation with its physical expansion into Dubai.

Founder and CEO of PSN, Spencer Hidge, confirmed: “The past decade has seen PSN progress from an events platform for those working behind the scenes into a multi-functional network, which successfully unites professionals across various sports disciplines and promotes cross-sport learning and the sharing of best practices to address critical challenges that face professional sports.

I am extremely proud of our growth and positive impact on the sports industry to date and now plan to continue building our network across the globe, with a particular focus on our new presence in the Middle East.”

Now considered the “go-to” network for sports professionals of all levels, PSN also partners with selected industry specialists whose services support the requirements of sports organisations through their day-to-day challenges.

For more information, visit: www.premiersportsnetwork.com/

Spencer Hidge, Founder and CEO of Premier Sports Network

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The Consequences of Overtourism: A Case Study on Bearded Heron Safaris’ Efforts in Responsible Tourism https://meamarkets.digital/the-consequences-of-overtourism-a-case-study-on-bearded-heron-safaris-efforts-in-responsible-tourism/ Mon, 24 Mar 2025 17:16:33 +0000 https://meamarkets.digital/?p=39169 Overtourism has become a significant concern for popular travel destinations worldwide. This phenomenon occurs when a high volume of tourists overwhelm a location, leading to deteriorating visitor experiences and adverse impacts on the environment, local culture and infrastructure.

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elephant bulls coming out of the forrest

How sustainable practices are transforming the Kruger National Park experience.

By Neil Heron

The challenge of overtourism

Overtourism has become a significant concern for popular travel destinations worldwide. This phenomenon occurs when a high volume of tourists overwhelm a location, leading to deteriorating visitor experiences and adverse impacts on the environment, local culture and infrastructure. The consequences of overtourism are multifaceted and affect both the natural landscape and the communities that depend on tourism for their livelihoods.

One of the most affected regions in South Africa is the Kruger National Park. Famous for its vast savannas, rich wildlife (including the Big Five) and a diverse array of bird species, the park has long been a magnet for tourists. However, the increasing number of visitors has raised concerns about the sustainability of tourism practices and the long-term preservation of this unique ecosystem.

Bearded Heron Safaris: Leading the way to responsible tourism

Amidst these challenges, Bearded Heron Safaris stands out as a beacon of responsible tourism. This innovative safari operator is making remarkable strides in minimizing the effects of overtourism by focusing its operations on the northern part of the Kruger National Park. By doing so, Bearded Heron Safaris is able to offer an immersive and intimate experience that highlights the savanna’s ecological diversity, including the iconic Big Five and extraordinary birdlife.

Immersive and intimate safari experiences

Bearded Heron Safaris’ approach to tourism aims to create a deeper connection between visitors and the natural environment. By operating in less frequented areas of the reserve, Bearded Heron provide guests with an authentic and serene experience, far removed from the crowded tourist hotspots. This method not only enhances the visitor experience but also helps to distribute the tourism load more evenly across the park, thereby reducing pressure on the more popular sections.

The safari experience offered by Bearded Heron Safaris includes guided tours with knowledgeable local hosts who share their insights into the region’s flora and fauna. Guests can expect to encounter the Big Five – lion, leopard, elephant, rhinoceros and buffalo – as well as a myriad of bird species that are unique to this part of the world. The intimate nature of these tours allow for a more personalised and enriching experience and fosters a greater appreciation for the park’s natural beauty and ecological importance.

Sustainable practices and innovations

In addition to their unique approach to safari tours, Bearded Heron Safaris has implemented several pioneering sustainable practices. Notably, has eliminated single-use plastics from its operations – a significant step towards reducing environmental impact. In addition, it is the first safari operator in the Kruger National Park to use solar-powered on-board fridges and freezers. This innovation not only ensures that food and beverages are stored sustainably but also serves as a model for other operators in the park.

Expanding responsible tourism to the Karoo and the Cape

Neil and Tina Heron, the visionaries behind Bearded Heron Safaris, have recently embarked on a mission to extend their responsible tourism efforts beyond the Kruger National Park. Their recent trip to the Karoo and the Cape aims to establish similar intimate and immersive experiences in these regions.

The Karoo’s unique offerings

The Karoo, known for its arid landscapes and rich biodiversity, hosts some of the world’s most significant fossil finds. This region is home to a variety of mammals and birds not typically seen in the Kruger National Park, offering a unique and complementary experience to safari-goers. By providing fully guided and hosted tours, Bearded Heron Safaris ensures that visitors can explore the Karoo’s natural wonders while learning from local experts who are deeply knowledgeable about the area’s history and ecology.

The Cape’s cultural and culinary delights

Similarly, in the Cape region, Bearded Heron Safaris is developing experiences that highlight the local culture and cuisine. Guests can look forward to staying in charming B&Bs and boutique hotels, which each offer a distinctive taste of local hospitality. The tours are designed to be fully immersive, with local hosts who are passionate about sharing their knowledge and ensuring that visitors have a once-in-a-lifetime experience.

South Africa’s diverse national parks

South Africa boasts 24 national parks and each boasts its own unique blend of cultural, historical and ecological diversity. From the arid expanses of the Kalahari to the lush forests of Knysna, the majestic Drakensberg mountain range and the iconic landscapes of the Kruger and the Cape, there is no shortage of natural beauty to explore.

Fostering sustainable tourism across the nation

Bearded Heron Safaris is committed to protecting its guests from the pitfalls of overtourism while introducing them to the rich tapestry of South Africa’s natural and cultural heritage. Our mission is to provide immersive and intimate experiences that showcase the best of what these regions have to offer, all while adhering to principles of sustainability and environmental stewardship.

Conclusion

The efforts of Bearded Heron Safaris demonstrate that it is possible to offer exceptional tourism experiences, without compromising the health and integrity of the environment. By focusing on responsible tourism practices, Bearded Heron is setting a new standard for safari operators in South Africa and beyond. As travellers become more conscious of their impact on the destinations they visit, initiatives like those of Bearded Heron Safaris will play a crucial role in ensuring that future generations can continue to enjoy the wonders of our natural world.

For those seeking an unforgettable adventure that respects and preserves the environment, Bearded Heron Safaris offers a compelling choice. Their innovative approach to minimising the impact of overtourism while providing deep, meaningful connections with nature and culture sets them apart as leaders in the field of sustainable travel.

Photo Credits: Neil Heron

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IFAD and Kuwait Agree to Strengthen Efforts to Support Small-Scale Farmers https://meamarkets.digital/ifad-and-kuwait-agree-to-strengthen-efforts-to-support-small-scale-farmers/ Tue, 18 Mar 2025 16:59:58 +0000 https://meamarkets.digital/?p=39163 The International Fund for Agricultural Development (IFAD) and the Kuwait Fund for Arab Economic Development signed a co-financing agreement to strengthen efforts to support small-scale farming and improve food security.

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Sustainable Farming in Rwanda’s Green Hills with Terraced Crops

The International Fund for Agricultural Development (IFAD) and the Kuwait Fund for Arab Economic Development signed a co-financing agreement to strengthen efforts to support small-scale farming and improve food security. The signing took place in Riyadh during the sixteenth session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification.

Under the agreement, the Kuwait Fund and IFAD will enhance their coordination and strengthen their collaborative framework to identify projects that are suitable for co-financing. They will also regularly review the progress of their work to reach more people and increase efficiency.

“Small-scale farmers are essential to global food security. Yet their work is consistently under-resourced, especially as they attempt to adapt to climate change and land degradation,” said Alvaro Lario, President of IFAD. “This renewed partnership between IFAD and the Kuwait Fund represents a renewed ambition for healthy rural economies, and for investments that safeguard food security – today and for the future.”

“The agreement signed today reflects the mutual alignment of the Kuwait Fund and IFAD as they continue to deepen and consolidate their partnership and commitment to enhancing the resilience of small-scale farmers in the face of food insecurity and climate change,” said Waleed Albahar, Acting Director General of the Kuwait Fund for Arab Economic Development.

“In collaborating, sharing expertise and innovative solutions with an unparalleled global leader such as IFAD, Kuwait Fund and IFAD come ever closer to realizing their shared vision of driving sustainable development, improving rural livelihood and enhancing climate resilience where it is needed most,” he added.

One notable example of strategic collaboration is the Family Farming Project in Guinea-Bissau (2019-2026). The project spans over four of the country’s poorest regions Bafatá, Cacheu, Gabú and Oio to support small-scale farmers’ access to markets, nutrition and climate resilience.  The Kuwait Fund co-financed approximately US$14 million alongside IFAD, and other partners for a total project cost of US$ 65.77 million, entrusting IFAD with loan administration, procurement, and project supervision services.

Small-scale farmers produce one third of the world’s food and up to 70 per cent the food in many developing countries. They are essential to food security globally and in their own country. Yet, climate change and land degradation increasingly threaten their capacity to produce and maintain their livelihoods. Climate change is estimated to reduce crop yields by up to a quarter by the end of the century. About three billion people live in the rural areas of developing countries and rely to a large extend on small-scale farming for their food and livelihoods.

Kuwait and IFAD have shared a long-standing and robust partnership since 1978. Kuwait’s support to IFAD has been fundamental in combating poverty and strengthening development over the years. IFAD and Kuwait have worked together to promote food security and healthy nutrition by investing in climate-smart, adaptive and resilient agricultural practices.

The State of Kuwait pledged US$45 million to IFAD as part of the Thirteenth Replenishment of IFAD’s Resources (IFAD13) in December 2023, towards the next three year programme of work (2025-2027). This is an increase of 45 per cent compared to its pledge of US$31 million to the previous programming cycle covering the period from 2022 to 2024 (IFAD12). Cumulatively, Kuwait has contributed more than US$249 million to IFAD since its foundation in 1997.

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Kuwait: Banks Consider Imposing Fees on Online Transfers https://meamarkets.digital/kuwait-banks-consider-imposing-fees-on-online-transfers/ Wed, 12 Mar 2025 12:07:10 +0000 https://meamarkets.digital/?p=39155 The move aims to generate revenue that would help cover the costs of continuous development and digital transformation initiatives undertaken by banks.

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Businessman using smartphone for Digital Wallet

The move aims to generate revenue that would help cover the costs of continuous development and digital transformation initiatives undertaken by banks

In response to the growing volume of online financial transfers between local banks, a new banking proposal has emerged to impose fees on these transactions.

The move aims to generate revenue that would help cover the costs of continuous development and digital transformation initiatives undertaken by banks.

According to informed sources, the proposal suggests introducing fees for online transfers between different banks, replacing the current practice of offering such services free of charge. While banks currently charge 5 dinars for transfers conducted through branch offices, the new plan would keep in-branch transfer fees unchanged for transactions within the same bank. However, online transfers between different banks would incur a fee ranging from 1 to 2 dinars per transaction, with each bank setting its rate within this range based on its strategic goals.

Proponents of the proposal argue that the surge in online financial transfers, particularly for commercial payments, has created a significant operational burden for banks. Despite the high volume of these transactions, banks currently do not collect any fees for them. Some bankers have specifically suggested imposing fees on transfers executed through platforms like “Wamd” or similar services, as these channels handle a large portion of commercial payments. The daily transfer limit of 3,000 dinars through such platforms underscores their financial significance.

The sources noted that while personal financial transfers typically involve smaller amounts, the widespread adoption of electronic payment services has encouraged customers to shift to online transactions for all types of payments. This shift has been driven by the convenience, security, and speed of online transfers, with some transactions being completed in seconds and available around the clock.

Although banks have largely agreed on the need to impose fees on interbank online transfers, the proposal to extend these fees to transfers via “Wamd” or similar platforms has not gained sufficient support. Concerns have been raised that such a move could negatively impact small-scale transaction users, who are difficult to distinguish in fast-paced money transfer services.

The sources emphasized that the push for fees is partly motivated by the rising costs of digital transformation in the banking sector. Banks are investing heavily in redesigning internal operations and adopting new financial technologies to keep pace with rapid changes in the industry. Imposing fees on online transfers could provide a supplementary income stream to enhance the efficiency and security of these services, ultimately benefiting customers by strengthening protective measures against breaches.

Despite the banking sector’s consensus on the fairness of introducing fees for online transfers, discussions with regulatory authorities, including the Central Bank of Kuwait, have revealed reservations about revising banking fee structures. The Central Bank’s stance aligns with its broader strategy to promote financial inclusion and support digital transformation across the banking sector, suggesting that any changes to fee regulations will be carefully considered to avoid undermining these goals.

In conclusion, while the proposal reflects the banking sector’s need to offset the costs of digital innovation, its implementation will require balancing revenue generation with the broader objectives of financial inclusion and technological advancement.

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Your Luxury Travel Itinerary for Increasingly Popular North African Destination https://meamarkets.digital/your-luxury-travel-itinerary-for-increasingly-popular-north-african-destination/ Fri, 07 Mar 2025 10:33:40 +0000 https://meamarkets.digital/?p=39150 Marrakech is fast becoming the must-visit destination of 2025, with Google Search Trends revealing an extraordinary 5000% increase in searches for the city and over 1.2 million posts on TikTok the destination is certainly seeing a surge in interest.

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Place Djema El Fna Marrakech Maroc au coucher du soleil
  • Marrakech has recently seen a spike in popularity with + 5000% surge on Google trends. 
  • Travel expert Priti Bhudia provides her insider insight on the best luxury hotels, tips and things to be aware of when travelling to the Red City 

Marrakech is fast becoming the must-visit destination of 2025, with Google Search Trends revealing an extraordinary 5000% increase in searches for the city and over 1.2 million posts on TikTok the destination is certainly seeing a surge in interest. 

Morocco’s vibrant culture, luxury, and stunning landscapes can be enjoyed year-round. While summer brings high temperatures, it also offers coastal retreats, luxury resorts, and lively festivals. For those that prefer milder weather, the cooler months until May or later in the year are ideal for exploration. 

Priti Bhudia, Product Manager at Away Holidays, shares expert insights on how to experience the best of Marrakech, from ultra-luxury stays to authentic cultural experiences and budget-friendly travel hacks. 

The ultimate luxury stays in Marrakech 

For those seeking a lavish escape, Marrakech offers plenty of opulent hotels. 
 
“Marrakech is synonymous with luxury, from traditional Moroccan riads to beautifully designed buildings that capture the history and famous architecture of Morocco – some of the world’s finest hotels are found here,” says Priti. “Whether it’s the grandeur of Royal Mansour or the Arab elegance of the award-winning Selman Marrakech, there is an unparalleled experience waiting for those who wish to visit” 

Top luxury recommendations include 

  • Royal Mansour – A palace-like retreat that offers a unique concept of a ‘medina inside a medina’ it truly is a sensory experience. Located in the heart of Marrakech, the Royal Mansour has four signature restaurants for those who enjoy luxury dining. 
  • La Mamounia – An iconic and historic hotel known for its exquisite Moorish architecture and legendary service; those who are after luxury will not be disappointed by the grandeur of La Mamounia. 
  • Amanjena – Situated within an oasis of palm and olive trees, Amanjena (‘peaceful paradise’) offers understated luxury, ideal for cultural and wellness immersion – and for those that might want to be slightly distanced from the buzz of the centre. 
  • Four Seasons Marrakech – Situated between the city’s ancient medina and the neighbourhoods of the Ville Nouvelle the Four Seasons offers contemporary retreat with the option of private pools for those who stay in the Marrakech Villas or Patio Suites. 
  • Mandarin Oriental – A blend of modern elegance and traditional Moroccan charm, the Mandarin Oriental Marrakech lies nestled in 20 hectares of olive groves and landscaped gardens, not to mention that their rooms all have private pools. 
  • Selman Marrakech – Located at the foot of the Atlas Mountains and home to an exclusive collection of Arabian horses, offering unique equestrian experiences the Selman encapsulates Morocco’s Rich heritage and promises an unparalleled stay.  
  • The Oberoi Marrakech – Inspired by palaces of ancient Morocco The Oberoi is luxurious haven known for its grand design, beautifully landscaped gardens and impeccable hospitality. 
  • Nobu Marrakech – Moroccan craftsmanship meets Japanese simplicity and iconic Nobu cuisine, in the heart of the Golden Triangle district and is a stylish hotspot featuring a rooftop bar with live DJ sets. 

Where to eat & what to do in Marrakech 

Beyond luxury stays, Marrakech is a feast for the senses, offering exceptional dining, historical landmarks, and immersive cultural experiences. 

“The city’s rich history and vibrant atmosphere make it a paradise for culture lovers,” Priti explains. “From rooftop dining overlooking the medina to unwinding in traditional hammams, there’s something to captivate every traveller.” 

Cultural & Historic Landmarks: 

  • Jardin Majorelle – A stunning botanical garden and artistic landmark, once owned by Yves Saint Laurent, featuring exotic plants, vibrant blue architecture, and the Berber Museum. 
  • Yves Saint Laurent Museum – Celebrating the designer’s legacy and his deep connection to Morocco. It’s recommended to book tickets in advance. 
  • Jemaa el-Fnaa Square – A UNESCO world heritage site and the bustling heart of Marrakech, filled with colourful stalls, and rooftop cafés offering panoramic views. 
  • Atlas Mountains – A perfect day trip for breathtaking landscapes and Berber village experiences. 

Dining & Nightlife: 

  • Safra By Koya – A stylish spot offering refined Moroccan cuisine. 
  • Buddha Bar – A vibrant venue with a fusion of Asian and Moroccan flavours. 
  • Azar – Known for its exotic atmosphere and live entertainment. 
  • Le Bistro Arabe – A classic French-Moroccan fusion restaurant in the heart of the medina. 
  • Various rooftop bars and fine-dining options within the city’s luxury hotels. 

Wellness & Culinary Experiences 
“A hammam often known as a ‘Turkish Bath’ to many, is a steam bath or public bathing facility that originated in the Middle East and is a central part of Islamic culture and a must visit in Morocco.” 

  • Les Bains de Marrakech – One of the most famous hammams, offering authentic Moroccan spa experiences. 
  • Traditional cookery classes – A must for food lovers wanting to learn the art of Moroccan cuisine. 

Affordable luxury: how to make your budget go further 

Experiencing Marrakech in style doesn’t always require breaking the bank. 

“We often say ‘fly cheap, stay chic’ when it comes to Marrakech,” says Bhundia. “There are plenty of ways to enjoy the city’s luxury offerings while being mindful of your budget.” 

Some tips include: 

  • Flying with budget airlines while investing in a high-end hotel. 
  • Exploring the city’s vibrant street food scene for delicious and affordable meals. 
  • There are an abundance of spa experiences and independent hammams, be sure to ask your travel specialist for suggestions on which ones will suit your budget. 
  • Taking advantage of happy hour deals at rooftop bars for stunning sunset views without premium prices. 

 Essential travel tips: customs & safety in Marrakech 

To make the most of a trip to Marrakech, it’s important to be mindful of local customs and practical travel tips. 

“Marrakech is a welcoming and vibrant city, but like any destination, being aware of cultural etiquette enhances the experience,” advises Priti. “For example, covering arms and legs when visiting religious sites is a sign of respect, and haggling in the souks is not just expected but part of the fun!” 

Key tips for travellers: 

  • Dress appropriately in religious sites and traditional areas. 
  • Practice haggling in the souks to get the best deals on crafts, spices, and textiles. 
  • Be cautious with belongings – Practice normal precautions with valuables, as you would in any busy city. 
  • Book professional guides – via your travel agent to navigate the city’s attractions and fully immerse yourself in its history and culture. 
     

Why Marrakech should be on your 2025 travel list 

With its soaring popularity, Marrakech continues to attract travellers seeking a mix of luxury, culture, and adventure. 

“As the buzz around Marrakech grows, there’s never been a better time to visit,” concludes Priti. “Whether it’s indulging in five-star luxury, exploring the medina’s winding alleys, or rejuvenating in a traditional hammam, this city offers an unforgettable experience for every traveller.” 

For more information on Marrakech holiday packages, visit  https://www.awayholidays.co.uk/africa/morocco/marrakesh/

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Technology Paves the Way for Sustainable Mining in Africa https://meamarkets.digital/technology-paves-the-way-for-sustainable-mining-in-africa/ Wed, 12 Feb 2025 10:20:54 +0000 https://meamarkets.digital/?p=39109 The extraction of valuable minerals like lithium and cobalt could be leveraged to create local industries, such as battery manufacturing, enhancing intra-African trade.

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A young Black African nining construction worker with digital tablet in open pit quarry

The extraction of valuable minerals like lithium and cobalt could be leveraged to create local industries, such as battery manufacturing, enhancing intra-African trade

Africa is working to become a global leader in sustainable mining, transitioning from traditional methods to more environmentally friendly practices. In late 2023, an innovative biological oxidation technique was introduced to gold mining operations in Zimbabwe, reducing pollution. This method uses bacteria to feed on sulphur in sulphide ores, eliminating the need for processes like burning sulphur, which can cause acid rain. This advancement has led to a 20% reduction in pollution and a decrease in the use of chemicals like mercury and cyanide.
At the macro level, the need for beneficiation is core to Africa’s mining future.

With the African Continental Free Trade Area (AfCFTA) opening new opportunities, there must be focus on processing raw materials locally to ensure the economic benefits stay within the continent.

The extraction of valuable minerals like lithium and cobalt could be leveraged to create local industries, such as battery manufacturing, enhancing intra-African trade and fostering economic growth.

The AfCFTA has the potential to drive industrialisation by fostering collaboration between African nations.

However, this requires the establishment of local beneficiation facilities that process raw materials within the continent, keeping value chains in Africa and creating new opportunities for local economies.

By focusing on beneficiation of key resources, African countries could secure greater control over their mineral wealth, ensuring that they retain a larger share of the economic value derived from their natural resources.

Technology can deliver sustainable mining

Technological advancements are driving sustainable mining.

The rise of hydrogen power plants, wind and solar integration, and the use of digital tools for data analytics are transforming the industry.

In Zimbabwe, HDF Energy is pioneering hydrogen plants powered by renewable sources, offering cleaner, off-grid power for mining operations.

Additionally, the use of digital tools and data analytics in underground mining is helping optimise energy consumption, improve safety, and reduce operational costs, presenting a path toward greener and more efficient mining.

More than just green

Yet, the benefits of technology go beyond pollution reduction.

Digital tools, including data analytics and artificial intelligence (AI), are increasingly being leveraged to optimise mining operations.

These technologies help manage safety, monitor environmental factors, and improve the efficiency of resource use.

For instance, AI is being used to design more efficient underground mines and track energy consumption.

Additionally, the integration of renewable energy sources such as hydrogen, wind and solar power in mines is transforming energy management, reducing reliance on polluting coal-fired power plants and cutting down carbon emissions.

Africa embracing clean energy

Several mines have embraced clean energy solutions.

First Quantum Minerals in Zambia teamed up with Chariot and Total Eren to develop a 430MW solar and wind project for its operations.

Barrick Gold Corporation in the DR Congo unveiled a 16MW solar farm with battery storage to supplement the Kibali gold mine’s hydropower during the dry season.

Kinross Gold in Mauritania is building a 34MW battery system alongside an 18MW system at its Tasiast mine.

Rossing Uranium in Namibia is planning a 15MW AC solar PV plant.

Blanket Mine in Zimbabwe has installed a 12MW solar plant, meeting 30% of its electricity needs.

Growth challenges

However, for Africa’s mining sector to truly embrace these technologies, substantial challenges remain.

Mining operations are typically long-term endeavors, often taking years to develop and yielding returns over extended periods.

This long development cycle creates a disconnect between the rapid pace of technological advancement and the slow-moving nature of mining.

As a result, mining companies can struggle to integrate the latest innovations, which may render earlier designs obsolete by the time extraction begins.

Overcoming this requires proactive investments in technology from the outset, integrating AI-driven designs into mine planning to ensure long-term adaptability.

Natural resource management

Another key hurdle is ensuring the sustainable use of natural resources, particularly water.

Waste management in mining is crucial, and advances in digital tools allow for the design of tailings dams and waste systems that prevent harmful runoff into fresh water sources.

Technologies also help minimise water consumption during the mining process itself, further reducing environmental damage.

To accelerate the adoption of these technologies, African governments must play an active role by developing legislation tailored to the continent’s specific needs.

Current global standards, while helpful, do not always reflect the unique challenges African mining companies face.

Africa’s moment

For technology to truly transform Africa’s mining sector, it must be complemented by a focus on collaboration and investment in local industries.

Partnerships with global mining companies and technology providers can accelerate the transfer of knowledge and expertise, but the real success will lie in Africa’s ability to develop homegrown solutions that cater to its unique context.

Sustainable mining in Africa requires the adoption of innovative technologies, smart regulatory frameworks, and greater regional collaboration.

If these elements are successfully integrated, Africa’s mining sector can not only meet the demands of the global market but also contribute to the continent’s long-term economic and environmental sustainability.

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