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Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

The collaboration will promote and share the latest AI tech and skills initiatives worldwide and introduce an investment fund for developers.

Published

2 years ago

April 17, 2024

Joanna Melki

microsoft invests $1.5 billion in abu dhabi ai tech firm g42

G42

Abu Dhabi AI and tech firm G42 have announced a partnership with Microsoft that will include a $1.5 billion investment. The huge cash injection will help the collaborating companies bring the latest Microsoft AI tech and skills initiatives to the UAE, as well as the wider Middle East, Central Asia, and Africa.

Over time, G42 and Microsoft aim to empower nations and improve equity by allowing access to services that address vital government and business concerns while promoting the highest privacy and security standards.

H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42, explained: “Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organizations. This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally”.

The partnership will support the creation of a skilled AI workforce and develop a talent pool to drive innovation and boost competitiveness in the UAE and beyond with a $1 billion investment fund for developers.

As part of the newly expanded partnership, Brad Smith, Vice Chair and President of Microsoft, will join G42’s board of directors. In a recent statement, Smith said: “Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations [combining] world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the United States”.

Also Read: Getting Started With Google Gemini: A Beginner’s Guide

As part of their regional plans, Microsoft and G42 have firmly committed to complying with US and international trade laws. They will also adhere to responsible AI and business integrity regulations governed by a detailed Intergovernmental Assurance Agreement (IGAA).

Peng Xiao, G42’s Group Chief Executive Officer, stated, “This partnership significantly enhances our international market presence, combining G42’s unique AI capabilities with Microsoft’s robust global infrastructure. Together, we are not only expanding our operational horizons but also setting new industry standards for innovation”.

The G42 and Microsoft collaboration has passed several significant milestones over the past twelve months. A joint plan to develop AI solutions for industry and the public sector and industry was unveiled in April 2023, and last September, Microsoft and G42 laid out plans to unlock the potential of the Azure public cloud platform. Finally, in November 2023, Microsoft added G42’s Jais Arabic Large Language Model to its Azure AI Cloud Model.

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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.