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Thursday, 19 May 2022

Benya Group to set up Saudi arm by end of 2022

Benya eyes Saudi expansion by end of 2022: IT infrastructure contractor Benya Group plans to set up an investment arm in Saudi Arabia by the end of the year, a company representative told Enterprise. The move will mark Benya’s first expansion in the Gulf region.

The Egyptian company is also pushing into Africa: Benya is currently awaiting a license to build and extend a telecom network in the Democratic Republic of the Congo, and has started working with contractors who will supply fiber cables as part of an ongoing USD 500 mn agreement to set up a national fiber optic network, company representatives confirmed to Enterprise. The company has also submitted an application to DRC regulators for a license to set up a company to construct and operate shared mobile towers, Benya Group Chairman and CEO Ahmed Mekky told Enterprise.

Benya is also partnering with Swiss cable developer and provider R&M to collaborate on infrastructure projects in Egypt and Africa, as part of the company’s expansion plans, Benya said in a press release sent to Enterprise yesterday. The company recently launched a USD 50 mn venture capital fund, dubbed Benya Ventures, that will focus primarily on tech, IoT and AI startups in Africa.

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