PayPal announced a strategic investment of $100 million aimed at driving innovation, supporting entrepreneurs, and promoting inclusive economic growth in the Middle East and Africa, one of the fastest-growing digital commerce regions in the world.
The company’s strategic investment will be made through a combination of minority investments, acquisitions, PayPal Ventures funding, people, and technology deployment that will help local businesses grow, open new opportunities for innovators, and bring millions of consumers and communities into the digital economy.
“The Middle East and Africa are home to some of the most dynamic and fast-evolving businesses in the world,” said Alex Chriss, President and CEO of PayPal. “By dedicating a $100 million investment to this region over the coming years, we are investing in technologies, partnerships, and solutions that will help entrepreneurs scale faster, extend their reach beyond borders, and unlock new growth opportunities in the digital economy.”
The new commitment also builds on PayPal Ventures’ existing investments in some of the region’s most promising startups, including Tabby, Paymob, and Stitch, highlighting PayPal’s role as a long-term partner in shaping the future of digital commerce.
“This commitment reinforces our dedication to expanding PayPal’s presence in the Middle East and Africa, with a focus on building stronger connections between local businesses and the global market,” said Otto Williams, Senior Vice President, Regional Director, and General Manager of PayPal Middle East and Africa. “We are focused on growing our footprint in the region and ensuring that millions of consumers and businesses can access more digital services they need to thrive.”
Source: Disrupt Africa
