Dubai advanced its plans for a new underground passenger transport system called Dubai Loop following the official agreement signed between The Boring Company, founded by Elon Musk, and the Dubai Roads and Transport Authority. Announced during World Governments Summit 2026, the project aimed to bring to life an electric vehicle tunnel network operating non-stop and station-to-station, targeting the reduction of traffic in high-density urban areas.

Dubai Loop was being developed as an express underground transportation model different from traditional metro and rail systems. The project was developed within the scope of the partnership between The Boring Company, founded by Elon Musk, and the Dubai Roads and Transport Authority (RTA). The agreement was signed as part of World Governments Summit 2026.

Non-Stop Travel With Dubai Loop

The Dubai Loop system was designed to enable passengers to reach their destinations directly, instead of stopping at every station as in traditional metro lines. Electric vehicles would operate in narrow tunnels built specifically for this system and would offer shorter travel times between high-density areas.

Dubai officials stated that the system aimed to reduce pressure on surface traffic, improve first- and last-mile connections, and assume a complementary role to the existing transportation infrastructure.

Pilot Route and Planned Network Expansion

According to project details, the total network length of Dubai Loop was planned to reach approximately 22.5 kilometers (14 miles) and include a total of 19 stations. The expansion was expected to form a route extending between Dubai World Trade Centre and Business Bay, covering the city’s most intense commercial and financial districts. Full implementation was expected to take approximately three years.

The first phase of Dubai Loop had a limited scope. The pilot phase was designed as a 6.4-kilometer (4-mile) route with four stations, connecting the Dubai International Financial Centre (DIFC) area with Dubai Mall and the surroundings of Burj Khalifa. Construction was targeted to begin after final design approvals and to be completed within approximately one year.

Designing the stations in a compact structure would enable the creation of more entry points in dense urban areas. The tunnels would have a diameter of approximately 3.6 meters (12 feet) and would be built specifically for vehicle transportation instead of rail systems.

The Cost of Dubai Loop Is 545 Million Dollars

The cost of the pilot line was announced to be approximately 154 million dollars. When the entire network was completed, the total investment amount was expected to reach approximately 545 million dollars.

According to studies conducted by RTA, the pilot segment was projected to serve approximately 13,000 passengers per day. With the completion of the full network, daily passenger capacity was planned to increase to approximately 30,000.

During the construction process, it was planned to use high-speed tunnel boring technologies that were lower-cost and caused less surface impact compared to traditional underground rail systems. Officials emphasized that this approach would minimize the effects on existing roads and infrastructure.

Safety Measures and Operational Oversight

Safety stood out as one of the core elements of the Dubai Loop design. Vehicles were planned to remain in constant communication with an operations control center operating around the clock. The tunnels would include emergency exits, fire detection and suppression systems, ventilation, lighting, and continuous camera monitoring infrastructure. Project representatives stated that the use of electric vehicles reduced certain risks compared to traditional rail systems, particularly onboard fire risks.

Official Statements and Strategic Framework

RTA management stated that the project was aligned with Dubai’s strategy of adopting advanced mobility solutions through global partnerships. Officials identified smoother transportation, stronger integration between transport modes, and improving quality of life for both residents and visitors as key objectives.

The management of The Boring Company stated that the collaboration aligned with Dubai’s long-term urban and transportation plans and highlighted safe and efficient tunnel construction methods suitable for dense city environments.

Dubai Will Become the Second City to Implement a Tunnel-Based Passenger Transport Model

The Dubai Loop project was moved to the implementation phase following feasibility studies initiated by a preliminary agreement signed in 2025. During this process, RTA provided geotechnical data, infrastructure maps, environmental risk assessments, and regulatory standards. The Boring Company, accompanied by international consultancy firms and financial and legal advisors, prepared technical designs, safety documents, and route proposals.

Dubai was expected to become the second city after Las Vegas to implement this tunnel-based passenger transport model. At the current stage, officials stated that the focus was on the performance of the pilot line, the construction schedule, and the operation of the system under real traffic conditions.

Elon Musk Discussed Artificial Intelligence and Technology Cooperation with the UAE President

Azerbaijan brought onto its agenda plans to implement a new value-added tax (VAT) registration mechanism targeting non-resident individuals who sell to buyers in the country through e-commerce. The proposal discussed in parliament was presented as part of a draft amendment to the Tax Code aimed at strengthening oversight of cross-border digital trade.

The regulation in question was discussed at a meeting of the Economic Policy, Industry, and Entrepreneurship Committee of the Azerbaijani Parliament. The proposal aimed to clarify under which conditions VAT registration would become mandatory for goods and services offered online by foreign individuals to customers in Azerbaijan.

The 10,000 Dollar Turnover Threshold and Registration Obligation

According to the draft amendment, non-resident individuals who conduct e-commerce activities through internet-based information resources and are not registered with the Azerbaijani tax authorities will be required to register for VAT electronically if their annual turnover obtained from sales or services provided to buyers in Azerbaijan exceeds 10,000 U.S. dollars within a calendar year. The period granted for registration following the exceeding of this threshold was determined as 30 days.

For non-resident sellers whose annual turnover remains below 10,000 dollars, VAT registration will not be mandatory. Individuals in this group will be able to choose to register on a voluntary basis. While this structure creates a mandatory framework covering high-volume sellers, it aimed to limit the administrative burden for small-scale activities.

The regulation focused particularly on individuals who are resident outside Azerbaijan and carry out commercial activities directed at the domestic market through online platforms. Linking the registration obligation to turnover sourced from Azerbaijan aimed to more clearly define the tax nexus in cross-border e-commerce.

Certain Digital Services Were Excluded from the Scope of the VAT Regulation

In the draft law, certain types of services that were excluded from the scope of the new VAT registration mechanism were also explicitly specified. These exemptions mainly covered professional and educational services provided in a digital environment.

Accordingly, consulting, legal, financial, accounting, design, and engineering services provided via email or other interactive communication tools were excluded from the registration obligation. Real-time online training and educational services, as well as ticket sales related to scientific, educational, cultural, sports, and entertainment events, were also not included within the scope of the regulation.

With these exemptions, lawmakers aimed to differentiate between general e-commerce activities and professional services provided in a digital environment.

The Administrative Framework and the Continuation of the Process

In the draft amendment, it was stated that the procedures and principles regarding the registration, re-registration, or deregistration of non-resident individuals for VAT, as well as the processes related to the submission of VAT declarations and the payment of the tax, would be determined by the relevant executive authority.

This approach provided flexibility to the tax administration in shaping electronic registration and notification systems by allowing the technical and administrative details related to implementation to be regulated through secondary legislation. The emphasis placed on digital processes presented a structure aligned with the online nature of the activities targeted by the regulation.

The regulation showed parallelism with steps taken by many countries globally toward taxing cross-border e-commerce. The draft amendment remained at the committee review stage and has not yet entered into force. For implementation, the completion of the legislative process in parliament and the publication of regulations regarding its application by the executive authority will be required.

A Sharp Increase in E-Commerce Revenues in Azerbaijan Is Expected by 2027

Dubai Chamber of Digital Economy announced that it supported the establishment and growth of 1,690 digital startups in 2025, corresponding to an increase of 39.7 percent compared to the previous year. The results revealed that Dubai accelerated its momentum as a global digital startup hub, particularly in areas such as artificial intelligence, fintech, and platform-based business models.

Dubai Chamber of Digital Economy stated that this growth was a reflection of ongoing efforts to strengthen an innovative business environment supported by advanced infrastructure, agile regulations, and access to international markets. While global companies constituted the majority of the supported firms, this situation demonstrated that Dubai’s attractiveness increased for entrepreneurs seeking to scale at regional and international levels.

Artificial Intelligence, Fintech, and Global Companies Drove Growth

According to Dubai Chamber of Digital Economy, approximately 15 percent of the startups supported in 2025 consisted of artificial intelligence-focused companies, while fintech firms accounted for 12 percent. Companies operating in mobility technologies, software-as-a-service (SaaS), and e-commerce covered approximately 20 percent of the total.

The chamber reported that 75 percent of all companies supported in 2025 were global firms. This picture revealed that Dubai became a preferred entry point for international digital companies targeting Middle East, Africa, and South Asia markets.

Dubai Founders HQ Strengthened the Startup Ecosystem

One of the significant developments of 2025 was the launch of Dubai Founders HQ in October. The initiative was launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and Chairman of the Executive Council of Dubai.

Developed jointly by the Dubai Department of Economy and Tourism and Dubai Chamber of Digital Economy, Dubai Founders HQ was designed as a “phygital” platform that brings together a physical campus and a comprehensive digital ecosystem. The initiative aimed to encourage collaboration, innovation, and scalable growth by bringing together founders, investors, companies, and ecosystem stakeholders.

Omar Sultan Al Olama, Chairman of Dubai Chamber of Digital Economy and Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, stated that the chamber was committed to accelerating Dubai’s transition to a fully integrated digital economy. Al Olama expressed that the strategy focused on providing infrastructure, regulation, and global market access that would enable digital companies to scale from Dubai.

Establishment and Scaling Support Through Integrated Services

The chamber provided corporate services and business matchmaking support together with trusted business partners through the Business in Dubai platform. The platform enabled companies to connect with investors, business partners, and customers to help them launch or expand their operations in Dubai.

In 2025, 48 percent of the supported companies benefited from business set-up services and access to accelerators and incubator programmes, while 31 percent benefited from broader business support services offered through the platform.

Dubai Chamber of Digital Economy’s Talent and Application Development Programmes

In April 2025, Sheikh Hamdan honoured the winners of the Create Apps Championship organised by Dubai Chamber of Digital Economy. The competition, which is part of the Create Apps in Dubai initiative launched in 2023, received more than 5,800 applications in its first two editions and supported the development of more than 55 smart applications.

While the third edition was announced in November, a new Participant Support Programme was also announced to help high-potential teams complete the development process. It was stated that the third edition aimed to support the launch of 50 new applications and would offer funding packages exceeding AED 2.5 million, along with training and mentoring opportunities.

Global Outreach and Thought Leadership

In October 2025, the 10th edition of the Expand North Star event, organised by Dubai World Trade Centre and hosted by Dubai Chamber of Digital Economy, was held at Dubai Harbour. The event brought together more than 2,000 startups and 1,200 investors managing assets exceeding $1.1 trillion.

Throughout the year, the chamber organised 36 sector-focused events and conducted international roadshows in 17 countries, including Australia, Canada, France, Germany, Singapore, the United Kingdom, the United States, and South Korea. These activities reached more than 2,500 digital startups and ecosystem stakeholders.

In parallel, eight reports were published in 2025, including The Entrepreneur’s AI Playbook. The reports aimed to support startups in being established and scaled more efficiently by using artificial intelligence tools.

Dubai Founders HQ to Empower Startups and SMEs in the Region

Across the Middle East and North Africa (MENA), startup investments reached an all-time high in 2025, recording the strongest year to date for the region’s entrepreneurial ecosystem.

According to Wamda’s annual investment report, 647 startups raised a total of $7.5 billion throughout the year; this figure indicated a 225 percent year-on-year increase in total startup investment value. While debt financing constituted a significant portion of the capital raised, the data showed that investor confidence was not limited solely to leveraged transactions. When debt financing was excluded from both years, equity investments increased by 77 percent year on year. This demonstrated that the rise in 2025 reflected broader investor participation.

The Second Half of the Year Determined Startup Investment Volume

Investment activity accelerated markedly in the second half of the year and reshaped the overall picture. Between July and December, 310 startups raised $5.7 billion, while in the first half of the year 335 startups raised a total of $2 billion.

The third quarter proved decisive, with $4.5 billion invested across 180 deals. This increase stemmed from large-scale investments involving companies such as XPANCEO, Ninja, Tabby, Lendo, Property Finder, and Tamara. Tamara’s $2.4 billion transaction stood out as the largest deal of the year and significantly influenced annual totals.

Despite the concentration of capital in a limited number of large transactions, the fact that overall deal activity remained robust showed that investor interest continued beyond headline-making investments.

Saudi Arabia and the UAE Maintained Regional Leadership

Geographically, startup investments were concentrated in the region’s most developed startup markets. Saudi Arabia became the most funded country by raising $5 billion across 211 deals. The United Arab Emirates ranked second, attracting $2 billion in investment across 218 startups and maintaining its appeal to international investors with strong deal volume.

Egypt ranked third, raising $263 million across 89 deals. Although the total investment amount declined compared with the previous year, the increase in deal count indicated that early-stage activity continued in a more cautious investment environment. These three markets continued to account for the majority of total investments in the region, remaining the key centers shaping the direction of the MENA startup ecosystem.

Early-Stage Startups Stood Out in Deal Volume

Despite the prominence of large late-stage investments, early-stage startups accounted for the majority of deal activity in 2025. A total of $1.3 billion was invested across 486 early-stage deals, demonstrating that the region has a strong startup pipeline.

In contrast, late-stage startups raised $1 billion across only 44 deals. The data showed that while investment in scaled companies continued, investors became more selective at the growth stage.

Fintech Maintained Its Leadership

In sectoral distribution, fintech maintained its leadership by attracting $4.4 billion in investment, accounting for 58 percent of total funding. The proptech sector raised $1 billion, while e-commerce startups collected $372.5 million. Investor preference continued to shift toward enterprise-focused business models. B2B startups raised $2.8 billion, surpassing consumer-focused startups. This trend reflected the importance placed on scalable and revenue-driven models in a more disciplined investment environment.

Exits Gained Momentum

Exit activity also gained momentum in 2025. A total of 66 acquisitions took place, representing a 54 percent year-on-year increase. The majority of exits were concentrated in fintech, SaaS, and e-commerce sectors, with the United Arab Emirates, Egypt, and Saudi Arabia standing out as the most active markets. The rising number of acquisitions indicated that the ecosystem had matured and that major players had begun pursuing strategic growth.

Overall, 2025 became a turning point for the MENA startup ecosystem. Record investment levels, strong early-stage activity, and rising exit momentum demonstrated that the region had entered a phase of scaling and selective consolidation, laying the foundations for a more mature and disciplined growth cycle in the years ahead.

The delivery activity sector in Saudi Arabia performed strongly in the fourth quarter of 2025. Over 124 million orders were recorded across various regions of Saudi Arabia, marking a 60% increase compared to the same quarter of the previous year.

According to a statistical bulletin issued by the Saudi Arabian Transport General Authority, the ongoing development of the delivery sector in the Kingdom is happening alongside the support for innovation in logistics services, the expansion in the use of technological solutions, and the increasing reliance on e-commerce. All these factors have contributed to the rising demand for services.

Almost Half of Total Orders Came from Riyadh

According to the authority’s statistics, the Riyadh region accounted for the highest percentage of total orders during this quarter, at 44.45%. The percentages for other regions are as follows: Makkah (22.17%), Eastern Province (15.90%).

Additionally, the percentage of orders in the Madinah region reached approximately 4.95%, while the percentage in the Asir region was recorded at 3.31%. This was followed by the Qassim region with 2.62%, the Tabuk region with 1.81%, the Hail region with 1.67%, and the Jazan region with 1.13%. Meanwhile, the percentages in the Najran, Al-Jouf, Northern Borders, and Al-Baha regions were determined to be 0.68%, 0.61%, 0.49%, and 0.21%, respectively.

Saudi Arabia, Recorded the Highest Monthly E-Commerce Sales of All Time

Oraseya Capital, the venture capital arm of Dubai Integrated Economic Zones Authority (DIEZ), invests from pre-seed to Series-B stages, supporting visionary founders shaping the future of the region. Through DUNE Venture Days, which will be held for the first time at WORLDEF DUBAI 2026, Oraseya Capital brings together the most influential investors and innovators from the ecosystem to exchange ideas and explore new waves of opportunities.

The “Zero-to-One Startup Competition” will be held on the second day of DUNE Venture Days. The competition is designed to support and showcase the most promising early-stage ventures. It offers a highly selective pitching opportunity, with a single winner and a single prize. The prize has been set at 100,000 AED.

Zero-to-One Startup Competition Application

Applications for the Zero-to-One Startup Competition can be submitted online until January 31st. The Oraseya Capital team will review the applications and shortlist the top 10 ventures. On February 13th, the selected top 10 ventures will pitch live in front of a jury composed of leading VCs and ecosystem leaders. The startups will compete for the chance to win the 100,000 AED grant, sponsored by DIEZ – Dubai Integrated Economic Zones Authority. They will also gain direct exposure to investors actively deploying capital in the region.

Who Can Apply?

This competition is open to early-stage technology startups (pre-seed to seed) that meet the following criteria:

• Annualized revenue of less than USD 500,000
• Less than USD 1 million raised to date
• A clear connection to the UAE market
• A founding team ready to pitch live in Dubai on February 13th

Apply now: https://luma.com/0zdhtsjw

Application deadline: January 31, 2026

About DUNE Venture Days

The first edition of DUNE Venture Days, led by Oraseya Capital, will be held on February 12th and 13th in partnership with Dubai CommerCity, alongside WORLDEF DUBAI 2026. The program is tailored for selected VCs, startup investors, and ecosystem leaders. DUNE is completely free and is part of Oraseya’s contribution to the VC ecosystem. The event offers a valuable opportunity to strengthen existing relationships, build new ones, and bring together individuals with whom we genuinely enjoy exchanging ideas.

UAE Government, children to digital risks protect and technology’s responsible and safe usage to encourage aiming a Child Digital Safety subject Federal Decree Law issued. This step, UAE’s 2026 year Family Year declare within framework and children’s life quality to protect and increase vision’s part as taken. Law, e-commerce sites also covers.

United Arab Emirates (UAE), children to digital contents, online malicious persons and data abuse from protect aiming important a federal law issued. This step, country’s children protection and technology usage to responsibly encourage vision’s part as, 2026 year Family Year declare with parallel as taken.

Law Digital Risks Targets; E-commerce Sites also Covers!

UAE’s new issued law, 13 age under child ren’s digital contents harms from, online malicious persons from and unauthorized personal data collection from protect aiming. Law, digital platforms children’s personal data to collect, process or share prohibit; only education or health services for certain exceptions brought. Law, UAE in operating or country’s users to appeal social media, messaging apps, online gaming platforms, e-commerce sites and publishing services like digital platforms covers.

Law, digital platforms default privacy settings, age verification systems, content filtering and age rating tools like precautions apply must it says. Internet service providers’ content control systems activate by, child ren’s internet usage for parent approval to obtain make mandatory it says. Law also, children caregivers’ digital activities monitor to and safe internet experience provide for parent control tools to use to mandatory make says.

Child Digital Safety Council Will Be Established

New law with, Family Minister by managed a “Child Digital Safety Council” will be established. This council, digital risks about policy, legislation development and awareness campaigns coordinate will. Also digital platforms’ children on effects according to classification ensure by, safety standards not meet platforms’ regulation will ensure.

Law, child ren’s gambling or money with betting containing online activities to participate prohibit. Also, all digital platforms’ children harm potential considering, risk levels according to categorize should says. Safety standards not meet platforms, strict regulations subject will be.

United States Polo Association (USPA) Global announced that Aydınlı Hazır Giyim San. Tic. AŞ was acquired by HRK Holding AŞ, the parent company of Saat & Saat, for TRY 20.3 billion (approximately USD 480 million). The acquisition brought together two companies that have long operated as licensed partners of the U.S. Polo Assn. brand under USPA Global.

In its statement, USPA Global said that both companies operated as licensed partners of U.S. Polo Assn., the official lifestyle brand of the United States Polo Association, and that the acquisition represented a strategic consolidation aimed at accelerating growth across Türkiye, the Middle East, Eastern Europe, and North Africa. The statement emphasized that the agreement would strengthen operational alignment across wholesale, retail, and digital channels.

Saat & Saat Gained Access to More Than 50 Countries

According to the statement, the acquisition provided Saat & Saat with access to Aydınlı’s extensive retail and distribution network covering more than 50 countries. Aydınlı had operated a strong sales network in the region, including mono-brand stores, department stores, and e-commerce platforms, as one of the largest partners of the U.S. Polo Assn. brand.

As part of the transaction, Saat & Saat CEO Ramazan Kaya was appointed CEO of the Aydınlı Group. USPA Global stated that this leadership transition aimed to maintain continuity while aligning the ready-to-wear business more closely with Saat & Saat’s regional growth strategy.

The statement also noted that Aydınlı was positioned as one of the region’s leading retail players, thanks to its strong growth potential and well-established sales infrastructure. With the acquisition, Saat & Saat aimed to move beyond its successful watch and accessories business and enter the global ready-to-wear industry.

Growth Targets for U.S. Polo Assn.

USPA Global reported that the deal would support the growth of the U.S. Polo Assn. brand and that the brand was expected to maintain its strong performance through more than 450 stores worldwide, along with multi-brand and digital sales platforms. The company said that the growth recorded by the brand in recent years was expected to continue after the acquisition.

USPA Global President and CEO J. Michael Prince congratulated Ramazan Kaya on the acquisition and said they welcomed the strategic transition. Prince stated that Saat & Saat, as one of U.S. Polo Assn.’s long-term partners, was in a strong position to further scale the brand across the region.

Prince added that the agreement would support a target of USD 1 billion in regional retail sales in the coming years, while also thanking Aydınlı’s former chairman Şeref Safa for his leadership and highlighting the support provided by TMSF over the years.

Ramazan Kaya: The Aydınlı Acquisition Will Prepare the Company for MENA

Ramazan Kaya said the acquisition reflected a shared vision with U.S. Polo Assn. in some of the world’s most dynamic retail markets. He stated that the move would accelerate growth, enhance capabilities, and position both the company and the brand for a strong next phase across Türkiye, the Middle East, Eastern Europe, and North Africa.

Kaya also noted that the transaction represented a significant milestone for Saat & Saat in terms of entering the global ready-to-wear industry and that it complemented the company’s established watch business. He added that the company’s teams were motivated by the opportunity to shape the future of the brand together.

USPA Global stated that the acquisition aligned the brand, leadership, and regional operations around a long-term strategy, paving the way for sustainable growth across multiple markets.

Paribu Acquires CoinMENA at a USD 240 Million Valuation

Kaspersky’s 2025 cybersecurity review showed a sharp rise in ransomware activity affecting businesses operating in the retail and e-commerce space. The number of unique users in the B2B segment of the sector who encountered ransomware detection increased by 152% in 2025 compared to 2023. This indicated a serious escalation in threat levels within a short period of time.

Data Breaches Threaten E-commerce

According to the findings, the most significant increase occurred during the 2024–2025 period. The primary reason for this surge was the rapid spread of the ransomware family known as “Trojan-Ransom.Win32.Dcryptor,” which became highly prevalent across the retail and e-commerce sectors in some of the analyzed markets. This malware targeted corporate systems connected to retail operations, leading to service disruptions and the exposure of sensitive business data.

Security researchers noted that retail and e-commerce companies continue to be attractive targets due to their high transaction volumes, large customer databases, and dependence on uninterrupted system access. Any disruption or data breach in this sector can result in immediate financial losses and reputational damage.

Kaspersky Blocked More Than 6.6 Million Phishing Link Access Attempts

In addition to ransomware, phishing attacks also emerged as a major threat to consumers and service providers. Between November 2024 and October 2025, Kaspersky products blocked more than 6.6 million attempts to access phishing links targeting users of online stores, payment platforms, and delivery services.

According to the data, 50.58% of these attacks directly targeted online shoppers. Attackers impersonated well-known retail brands by offering fake discounts or order confirmations and attempted to trick users into sharing login credentials or payment information.

Payment systems were the second most targeted category at 27.3%. These attacks typically involved the imitation of digital wallets, banking portals, or payment pages with the aim of stealing financial information. Delivery services ranked third at 22.12%, with users being redirected to malicious links through fake shipment notifications and parcel tracking messages.

Shopping Seasons Created Predictable Peaks for Attacks

Kaspersky’s analysis also emphasized a strong correlation between cyberattacks and major shopping periods. Seasonal discounts and major campaign periods consistently stood out as high-risk timeframes during which attackers intensified their activities each year.

During these periods, the increase in marketing messages, discounts, and limited-time offers reduced users’ level of vigilance. Phishing emails and scam messages blended more easily with legitimate campaign traffic, making them more effective. Attackers exploited the sense of urgency and excitement created by shopping festivals to encourage users to act quickly and carelessly.

Security experts stressed that this pattern repeats every year and highlighted the critical importance of increasing cybersecurity awareness during peak shopping periods. It was noted that retailers and e-commerce platforms should strengthen their monitoring and protection measures, while consumers should carefully verify even offers that appear to be trustworthy.

AI Cybersecurity Market

Jack Ma attended the Africa’s Business Heroes (ABH) awards ceremony held in Kigali, the capital of Rwanda, on Saturday, December 13. ABH stands out as one of the flagship initiatives focused on entrepreneurship that Ma launched in the late 2010s through the Jack Ma Foundation. The program has become one of the continent’s most prestigious business competitions by supporting entrepreneurs in Africa with financing, mentorship, and visibility.

Kagame Met With Jack Ma and Jerry Yang!

Rwandan President Paul Kagame met with Jack Ma and Yahoo co-founder Jerry Yang in Kigali on Saturday afternoon. According to Kagame, the visit took place within the scope of the Africa’s Business Heroes program, which is supported by Alibaba and aims to promote innovation and private sector development across Africa.

During the Kigali visit, Jack Ma, together with Jerry Yang, was received by President Kagame. This meeting revealed the high-level importance that the Africa’s Business Heroes initiative carries from both political and business perspectives. Rwanda has positioned itself in recent years as one of the centers of technology, entrepreneurship, and innovation in Africa; it attracts the attention of global investors by hosting regional and international business forums.

Although the detailed agenda of the meeting was not shared with the public, Kagame stated that the discussions were shaped around entrepreneurship and the ABH program. The initiative aims to identify scalable African startups and founders that produce solutions to local and regional challenges, and to provide them with financial awards and long-term support.

The Jack Ma Foundation had previously emphasized that Africa’s young population and rapidly growing digital economy have made entrepreneurship the main driving force of inclusive growth.

Ma Prefers to Stay Away From the Public Eye!

This visit attracted attention due to Ma’s very limited public appearances in recent years. Previously frequently seen at global business and policy events, Ma stepped down from his roles at Alibaba and Ant Group following increasing regulatory scrutiny of China’s technology sector and has largely stayed out of the spotlight.

Jack Ma was once one of the most recognizable faces of China’s technology sector and stood out as an advocate of entrepreneurship, globalization, and small businesses. During his active roles at Alibaba, he frequently visited Africa, supporting various initiatives in e-commerce, digital payments, and youth entrepreneurship.

However, after Chinese authorities launched a comprehensive regulatory campaign targeting large technology companies after 2020, Ma’s public profile changed significantly. After leaving his corporate roles at Alibaba, Ma sharply reduced his public visibility, which led to global speculation about his position and future activities.

In recent years, although Ma has occasionally appeared at academic institutions and philanthropic events, public engagements such as the Kigali visit remain rare and are closely watched.

Africa’s Business Heroes Initiative

Africa’s Business Heroes was established by the Jack Ma Foundation to support entrepreneurs across Africa at all sectoral and country levels. Each year, finalists compete for grant funding and gain the opportunity to receive mentorship from global business leaders. The program has become an important platform that highlights local innovation by being held in different African cities.

According to the organizers, the initiative reflects a long-term commitment to Africa focused on building sustainable entrepreneurial ecosystems, rather than a short-term investment strategy.

NovFeed Founder Diana Orembe Won a $300,000 Prize

The Africa’s Business Heroes Summit and Grand Finale concluded with great success in Kigali. NovFeed founder Diana Orembe became the winner of the grand prize worth USD 300,000. The event brought together entrepreneurs, investors, and ecosystem leaders from across Africa.

Alibaba Group and Alibaba Philanthropy founder Jack Ma and Yahoo co-founder Jerry Yang also attended the awards ceremony. The two-day Summit and Grand Finale provided an important platform for dialogue, learning, and collaboration, while once again demonstrating Rwanda’s commitment to supporting entrepreneurship and innovation across the continent.

Jack Ma Returns to Alibaba