News

Ericsson And e& Join Forces To Bring Superfast 5G To Egypt

The partnership aims to deliver fast, reliable connectivity to private users and enterprises while supporting cross-sector digital innovation.

Published

11 hours ago

October 29, 2024

Nour Nasir

ericsson and e& join forces to bring superfast 5g to egypt

At GITEX GLOBAL 2024, Ericsson and e& Egypt announced a groundbreaking partnership to roll out 5G technology across Egypt, promising users enhanced connectivity with faster speeds, reduced latency, and expanded bandwidth. The collaboration will cater to the growing demand for advanced mobile services for both consumers and enterprises alike.

Under the agreement, Ericsson will deliver its energy-efficient 5G product suite to establish the new network. This comprehensive 5G Radio Access Network (5G RAN) portfolio, implemented through the Ericsson Radio System, is designed to support diverse traffic conditions and site types. It aims to provide reliable performance as networks grow across mobile generations, equipping Egypt with a stable, high-capacity infrastructure to foster digital innovation.

The adoption of 5G is expected to provide Egyptians with seamless connectivity and increased network resilience. The expanded bandwidth and lower latency brought by this new infrastructure will support not only faster internet for users but also enhance industry operations and contribute to society as a whole.

“We are thrilled to bring 5G to Egypt with our technology partner, Ericsson. Through this partnership, e& Egypt will be able to provide faster connectivity speeds, larger bandwidth, and lag-free user experience to our customers, unlocking many opportunities for consumers and enterprises,” said Amr Fathy, Chief Technology and Information Officer of e& Egypt. “With Ericsson’s cutting-edge 5G solutions, we are paving the way for a more connected and innovative future for Egypt”.

Also Read: Wi-Fi 7, The Next Generation Of Wireless Internet, Is Here

Ekow Nelson, Vice President and Head of Global Customer Unit for e& at Ericsson Middle East and Africa, also reflected on the longstanding collaboration: “Our storied partnership with e& Egypt dates back nearly two decades, with two generational shifts in mobile technology. Like previous generational shifts, our ambition with 5G is to extend e& Egypt’s technology position”.

Ericsson and e& Egypt have collaborated successfully for years, achieving notable milestones in network innovation, customer experience, and sustainable development.

News

Wa’ed Ventures Pledges $100M For Early-Stage AI Startup Funding

The move aligns with Saudi Arabia’s plans to become a global AI hub, as the Kingdom anticipates a $135 billion boost to GDP by 2030.

Published

2 days ago

October 28, 2024

Nour Nasir

wa'ed ventures pledges $100 million for early stage ai startup funding

Wa’ed Ventures, a wholly-owned subsidiary of Aramco, has announced a $100 million allocation aimed at funding early-stage artificial intelligence (AI) startups. The move aligns with Saudi Arabia’s ambitions to establish itself as a global hub for AI innovation and is part of Wa’ed Ventures’ broader mission to nurture high-potential AI technologies.

To strengthen its investment decisions and deal-sourcing, Wa’ed Ventures has assembled an advisory board of experts with backgrounds from leading institutions such as Meta, Amazon, MIT, and Oxford University. These advisors bring a wealth of experience from sectors such as AI research, policymaking, academia, and entrepreneurship, providing critical insights and support to the fund’s investment strategy.

Anas Algahtani, Acting CEO of Wa’ed Ventures, shared: “Our strategic decision to allocate funds to AI investments is rooted in a deep understanding of the Kingdom’s growing ecosystem. By fostering innovation and supporting AI startups, we aim to accelerate the development of cutting-edge technologies that will drive economic growth, improve quality of life, and position Saudi Arabia as a global leader in Artificial Intelligence”.

As part of its active portfolio development, Wa’ed Ventures has made recent investments in Rebellions, a South Korean company specializing in AI chips, and AiXplain, a California-based provider of infrastructure for accelerated AI development. These investments reflect Wa’ed’s commitment to advancing AI applications and supporting companies that can enhance Saudi Arabia’s AI capabilities.

Also Read: Top Free AI Chatbots Available In The Middle East

Wa’ed Ventures’ AI-focused initiative not only targets the growth of local entrepreneurship but also aims to localize international AI talent and technologies, fostering a robust ecosystem that aligns with Saudi Vision 2030 goals.

A recent PwC report highlights the potential economic impact of AI on Saudi Arabia, projecting that by 2030, the country could generate $135 billion from AI-related activities, accounting for approximately 12% of its Gross Domestic Product (GDP). This puts Saudi Arabia in a favorable position within the Middle East to capitalize on the transformative power of AI.