is pleased to announce the exchange of a strategic Memorandum of Understanding with the Ministry of Investment of Saudi Arabia-in Riyadh. This agreement signifies a significant step towards fostering collaboration and mutual growth in the technology and innovation sectors between Africa and Saudi Arabia.
The Memorandum of Understanding delineates a framework for collaboration between AfriLabs and MISA, detailing mutual commitments aimed at fostering investment opportunities, facilitating market entry, and supporting startups in both regions. AfriLabs supports MISA in promoting African investment and easing entry for Saudi businesses into African markets. MISA reciprocates by aiding African entities to enter Saudi Arabia, including help with licenses and regulations. They also promise to link AfriLabs with Saudi stakeholders and offer investor services support.
“This MOU opens up new avenues for cooperation, investment, and knowledge exchange, unlocking immense potential for both regions.” she said The signing of the Memorandum of Understanding at LEAP 2024 highlights AfriLabs’ commitment to utilizing platforms like LEAP to establish strategic partnerships. AfriLabs remains unwavering in its mission to foster the growth of Africa’s innovation ecosystem and facilitate cross-border collaborations that promote inclusive growth and prosperity.© IT News Africa | All rights reserved.
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