Amana, a neo-broker launched an incentivizing offer to promote MENA stocks and introduce the people of the region to the stock market.

The offer includes no commission fees on over 1,000 stocks that originate from the Middle East and North Africa up to the first 100,000 investment capital.

This approach resembles the Robinhood model in the USA and UK which attracted more customers than any other previous method did in the last decade.

Amana aims to capitalize on the USD4 trillion market the region has attracted by the IPOs which are one of the highest in the world.

Only 5% of the region is involved in the stock market which is way below the average of major investment countries like the USA, UK and Canada.

Amana deals with clients from over 80 countries with access to the global financial markets.

Local stocks aside Amana also offers no commission fees on US stocks, gold, commodities, currencies, crypto and indices.

As a neo-broker, Amana functions mostly online, offering ease of use and access to investors.

QUOTES by Amana:

CEO of Amana, Muhammad Rasoul said Our initiative will provide more investors and traders across MENA access to local equity markets – in a cost-effective, fractionalized method, for everyone. We believe the MENA opportunity is big, and everyone should be able to participate in that growth opportunity.”

He added “This move exemplifies Amana’s core values. As a locally built broker, our mission extends beyond being a part of this emerging region’s growth; it’s about ensuring that as many people as possible can share in the economic potential of this once-in-a-generation regional transformation.”

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MSA Capital, a Chinese VC firm that is backed by Saudi Arabia’s PIF (public investment fund) offers opportunities for technology start-ups in the Middle East by pledging $ 1 billion in financial investment.

The company, which was founded in 2014, manages over $ 2 billion and invests in companies in the biotech, enterprise-facing core technology and consumer sectors.

MSA Capital has had multiple high-end deals with Venture Capital round sizes exceeding the tens of millions, including but not limited to:

• Tabby, a fintech company based in Dubai that offers flexible payment options, with a round size of $50M.
• Cullgen, a biotechnology and pharmaceutical company based in Ohio, United States with a round size of $50M.
• Sary, a B2B e-commerce platform connecting small businesses with manufacturers and lenders, based in Saudi Arabia it had a round size of $30M.

MSA Capital’s Managing Partner, Ben Harburg, has revealed that the company plans to launch a new fund in the year 2024. He further added that MSA Capital is currently in discussions with potential investors in the region to move forward with the plan to release the funds.

Saudi Arabia’s sovereign wealth fund has been investing in several start-ups as part of its efforts to achieve the goals of Vision 2030. Start-ups in the Kingdom secured $1.3 billion in Venture Capital funding in 2023, dominating the fundraising space.

Vision2030 is Saudi Arabia’s plan to diversify the Kingdom’s economy away from petroleum and the oil sector and open other areas of income to prepare for a future where businesses can have a supportive environment of all sizes.

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The new fund was created through a merger of ECG and Cayan Holdings, with Riyadh-based Watar Partners advising the fund.  Anchored by Jada Fun of Funds, the fundraising effort aims to develop Saudi Arabia’s energy sector and industrial services, with a focus on furthering the industrial growth of Saudi Arabia as well as the Gulf Cooperation Council as a whole.

Founded in 2008 by Ali Al-Turki, ECG has already closed over $5 billion worth of transactions, with significant investments in Saudi Arabia and the MENA region.

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