Cryptocurrency

Wamda Group: Careem is the most important investment we have right now

In an interview with Al Arabiya on the sidelines of the Gateway Gulf conference, Fadi Ghandour chairman of Wamda Group said: “The economy of the century revolves around technology and we cannot envision future economies without technology and digital economy.”

He added that the Arab youth contribute to introducing technological solutions to old problems experienced by societies, and that Bahrain is the main way to the important markets in the region such as Saudi Arabia. Historically Bahrain has been an access point for the Saudi market.

Ghandour underlined that Investment funds usually invest over a five years period and in the last two years we are talking about investing in venture capitals with amounts ranging from $ 1 billion to $1.5 billion that will be invested for five years, which translates to $ 200 million investment a year.

He pointed out that the private investments of government funds have not started yet, pointing out that the UAE has a larger share in these investments, and Dubai is an access point to other markets. Any technological company based in Amman, Beirut, Dubai and Cairo aspires to enter the Dubai market.

Regarding Wamda Group, Ghandour asserted: “The most important investment for Wamda is Careem.”

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