According to a recent projection by analyst firm Gartner, governments across the Middle East and North Africa will spend 11.5 billion USD on information technology this year – a 2 percent increase over the 2015 expenditure figure.
Though 2 percent does not necessarily represent a massive boost, the figure itself is significant in that highlights the strategy of Middle Eastern governments to diversify their investments and turn their formerly oil-based economies into knowledge-based economies. Investments into IT, mobile applications, the Internet of Things and other technology subsectors are rising slowly, but steadily – and they will continue to do so for the foreseeable future.
According to Gartner, the largest vertical for IT expenditure in the region by far is telecommunications, with investments expected to reach 4.7 billion USD in 2016. Governments in the MENA region have earmarked 3.1 billion USD for mobile network services alone.
In a region with a disproportionately young population, high levels of internet access and rapid rates of technology adoption, it is no surprise that IT spending is on the rise, or that investments into technology are becoming increasingly attractive to Middle Eastern investors.
Middle Eastern investors are particularly interested in the possibilities offered by the US tech sector, with many investors looking to follow in the footsteps of Saudi Arabia’s recent 3.5 billion USD investment in Uber Technologies Inc.
Naseba is a deal facilitator that has spent over a decade building a network of contacts with investors based around the world – including the Middle East. This network includes family offices, sovereign wealth funds, investment firms, high net worth individuals and members of royalty. Our investor analyst team is currently sourcing US-based technology investment opportunities on behalf of these investors.
On October 31, 2017, Naseba will be hosting the 3rd MENA Private Equity and Venture Capital Summit in Dubai, United Arab Emirates. The primary focus of the summit is to offer a deal flow platform that will introduce representatives of sovereign wealth funds, traditional PE and VC firms, regional conglomerates and family-owned businesses to innovative business cases from around the world.
The summit will combine insightful panels led by key regional and international tech investors and experts and pre-scheduled introductory meetings between up to 30 healthcare, life science and ICT investment opportunities and key regional investors and strategic partners, to raise capital and form strategic and commercial partnerships, in an informed and exclusive environment.
To access the Middle Eastern investors and strategic partners submit your business case here,
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