News

ALJ & Joby Aviation To Bring Electric Air Taxis To Saudi Arabia

The partnership will explore introducing up to 200 electric aircraft to the Kingdom, revolutionizing urban mobility, and supporting Vision 2030 goals.

Published

1 year ago

June 10, 2025

Nour Nasir

Joby Aviation

Abdul Latif Jameel, a renowned 80-year-old multi-sector business group, and Joby Aviation, a leader in electric vertical take-off and landing (eVTOL) aircraft, have signed a Memorandum of Understanding (MoU) to jointly introduce and distribute electric air taxis in Saudi Arabia. The partnership aligns closely with the renewed economic collaboration between the U.S. and the KSA, emphasizing shared innovation and sustainable transportation.

The initial phase of the project could see the delivery of up to 200 Joby electric aircraft and related services, with a value of approximately $1 billion, over the coming years. The long-term vision extends beyond Saudi Arabia, with both companies recognizing broader potential for regional expansion across the Middle East.

This agreement builds upon an existing relationship, as the Jameel family previously invested in Joby’s Series C funding round, which was led by Toyota Motor Corporation in 2020. The collaboration reflects both companies’ mutual commitment to sustainable, efficient, and affordable air travel, as well as enhancing passenger experiences, and significantly reducing environmental impact.

Joby Aviation’s electric air taxi, capable of transporting four passengers at speeds up to 200 mph, operates with zero emissions and substantially less noise than traditional helicopters. The aircraft is expected to commence commercial passenger operations in Dubai in 2026.

JoeBen Bevirt, Founder and CEO of Joby Aviation, highlighted the significance of the partnership: “This collaboration is about bringing America’s leadership in electric air mobility to the world. Together with Abdul Latif Jameel, we’re not just imagining a cleaner, safer, more efficient future — we’re building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region”.

Also Read: Meet The AltoVolo Sigma: A 1,608HP Personal eVTOL Jet

Hassan Jameel, Vice Chairman of Abdul Latif Jameel, emphasized Saudi Arabia’s strategic shift towards modern mobility solutions: “Saudi Arabia is transitioning toward a new era of mobility — on-demand, shared, connected, and sustainable. eVTOL is an exciting and important component of this transformation. We look forward to collaborating with Joby to advance the Kingdom’s mobility sector”.

In addition to distribution and sales collaborations, the partnership will also explore launching local air taxi services, developing essential maintenance and repair infrastructure (MRO), and establishing pilot training facilities. These initiatives directly support Saudi Arabia’s Vision 2030 by fostering economic growth, innovation, and employment opportunities for Saudi nationals.

News

Egypt’s Mobile Wallets Are Booming, But Cash Still Has Power

Egypt’s telecom regulator says $57.6 billion moved through more than 57 million wallets in six months. And one operator handled 77% of the value.

Published

4 days ago

September 12, 2026

Nour Nasir

egypt's mobile wallets are booming but cash still has power

Egypt’s mobile wallets handled EGP 2.96 trillion ($57.6 billion) in transactions in the first half of 2026, according to the National Telecom Regulatory Authority – a 56% rise on the EGP 1.90 trillion ($36.9 billion) recorded a year earlier. Transactions grew faster still, up 62% to 2.22 billion, while registered wallets climbed 23% to 57.01 million.

On one reading, that is exactly what Egypt’s regulators have been pushing for: a payments system that runs through telecom-linked wallets rather than banknotes. But the same data shows how far cash still reaches into it. Cash withdrawals made up just 12% of the transactions taking money out of wallets, yet 75% of the value withdrawn or spent.

Money arrives mostly from bank accounts: transfers through InstaPay accounted for 78% of deposit transactions and 58% of the value deposited, while incoming remittances from abroad made up 3% of deposit transactions but 10% of their value. Once inside, it largely moves between wallets – wallet-to-wallet transfers accounted for 54% of all transactions and 67% of total value, with mobile and internet top-ups a distant second at 25% of volume. In effect, the wallet is serving as a transfer layer: the place money passes through between the bank account and the banknote.

That layer also runs predominantly through one operator. Vodafone Cash held 53% of registered wallets and 57% of active ones, but handled 69% of transactions and 77% of their value. Its nearest rival, e& money, held 23% of registered wallets but 14% of transaction value; Orange Cash 20% and 8%; WE Pay 4% of wallets. How many of the 57.01 million are active is not stated.

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Adoption is rather uneven in other respects. Men held 38 million wallets, or 67% of the total, against 19 million held by women. Users aged 26 to 45 accounted for half of all wallets, and Cairo alone had 10.6 million, or 19% of the national total, with Giza next at 6.5 million.

The NTRA says it is continuing to work with telecom operators on the regulatory framework for wallet services, part of a wider effort to expand electronic payments and financial inclusion. Its own figures show that effort succeeding on the way in. On the way out, three-quarters of the value still leaves as cash.