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OSN-Anghami Merger Creates New MENA Media Giant

The combined entity will leverage Anghami’s advanced infrastructure to enhance the streaming experience, with OSN integrating 18,000 hours of premium content.

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osn-anghami merger creates new mena media giant
Anghami

In a significant development, OSN has secured a controlling stake in Anghami, consolidating its position as the Middle East’s premier online media and streaming service provider. Initially announced in November 2023, the acquisition has now received all necessary regulatory approvals.

Anghami stands out as the leading music technology platform in the Middle East and North Africa, boasting a strong market presence and rapid growth. With OSN Group now owning 55.45% of Anghami’s shares (valued at $3.69 each, representing a 1.9x of the closing price on March 28), the combined entity emerges as a formidable media force.

This strategic move unites 120 million registered users and around 2.5 million paid subscribers, and will generate nearly $100 million in revenue upon completion. The merger integrates OSN+’s extensive library of premium video content, spanning 18,000 hours, with Anghami’s vast catalog of over 100 million songs and podcasts.

Moreover, the combined entity will leverage Anghami’s advanced technological infrastructure to enhance the streaming experience through AI-driven hyper-personalization and upcoming cutting-edge products.

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Elie Habib, co-founder and CTO of Anghami will assume the role of CEO in the merged company, underscoring a commitment to continuity and expertise. Meanwhile, Joe Kawkabani will remain at the helm as CEO of OSN Group.

Anghami’s journey has been marked by several transformative deals, including a SPAC buyout culminating in a listing on Nasdaq New York, reflecting its evolution and resilience in the market.

The Middle East’s media landscape continues to witness dynamic shifts, evident in notable events such as the high-profile IPO of Saudi MBC Group on Tadawul and the acquisition of Starzplay Arabia by e& Group’s E-Vision and ADQ. The developments highlight the region’s growing dominance of the global media industry.

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Lebanon Ministers Meet Visa Over National Digital Payment Platform

Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.

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lebanon ministers meet visa over national digital payment platform

Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.

The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.

The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.

Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.

Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.

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Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.

“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.

Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.

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