e& life joins Dubai FinTech Summit as a Powered By sponsor
– The collaboration reinforces Dubai FinTech Summit and e& life’s shared commitment to strengthening the global financial ecosystem through innovation and knowledge exchange.
– The partnership sets the stage for the transformative 2nd edition of the Dubai FinTech Summit, empowering start-ups and entrepreneurs with the tools, resources, and networks needed to innovate and grow.
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e& life, the business pillar of e& that brings the next-generation digital world to the consumer’s fingertips, has joined the Dubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region. As a Powered By sponsor, e& life is dedicated to supporting innovative and future-thinking businesses on a global scale.
e& life leverages cutting-edge technologies to offer fintech, entertainment, retail, and mobility services through its smart platforms and apps. Their fintech arm, e& money, has become a regional powerhouse, known for its user-friendly mobile financial services and its position as the UAE’s fastest-growing issuer of Mastercard debit cards.
Mohammad Alblooshi, Chief Executive Officer at DIFC Innovation Hub, said, “The path to true innovation lies in collaboration and the Dubai FinTech Summit strives to bring together global leaders, innovators and disruptive start-ups to shape the future of finance. The alliance between the summit and e& life demonstrates our mutual commitment to fostering a dynamic FinTech ecosystem to strengthen Dubai’s existing reputation as a leading business destination. Transforming challenges into opportunities, our goal is to create the most advanced, inclusive and technologically empowered financial community.”
Khalifa Al Shamsi, Chief Executive Officer at e& life, said, “The Middle East is at the forefront of a major transformation in financial services delivery, driven by technology shifting from traditional to innovative solutions. As a pioneer in the region’s flourishing FinTech sector, e& is driven by a bold vision to lead this change.
“Through strategic partnerships, we aim to fast-track progress and take the region’s FinTech potential to new heights. This partnership represents a valuable opportunity for both e& and its FinTech portfolio under the business pillar e& life to collectively imagine new possibilities, inspire breakthrough ideas, and catalyse impactful innovations. By bringing together the talent and resources within our ecosystems, we can accelerate the journey toward a future where financial services truly empower people across societies. We look forward to contributing our expertise to shaping discussions that will steer the direction of the industry and play a role in realising the UAE’s aspiration to become a global hub for financial innovation.”
In line with the Dubai Economic Agenda (D33) to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.
The Dubai FinTech Summit, scheduled for May 6-7, 2024, at Madinat Jumeirah, Dubai, will see an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders and over 200 exhibitors showcasing cutting-edge technologies.
Visitors can purchase tickets for the Dubai FinTech Summit 2024, with early bird prices ending soon.
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With the growing global demand for digital infrastructure, Damac has been expanding its footprint in this important sector.
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Damac Group, a renowned conglomerate with a diverse investment portfolio of luxury real estate, hospitality, property management, and logistics, has announced its plan to invest up to $1 billion in the data centers sector over the next few years.
Recognizing the increasing global demand for digital infrastructure, Damac has been expanding its footprint in this crucial sector. A significant milestone in Damac’s diversification strategy was the launch of Edgnex Data Centers in 2021, which has enabled the group to capitalize on the growing need for robust digital infrastructure.
According to Damac, Edgnex is making significant strides in Saudi Arabia, with facilities under construction in Dammam and Riyadh that will deliver 55MW by 2025. Additionally, plans are underway for a data centre in Amman, Jordan, and another in Turkey in partnership with Vodafone.
In May, Damac had announced its entry into the Indonesian market with plans to build a data center in Jakarta. The 15MW facility, located along MT Haryono, is scheduled to complete its first construction phase in the fourth quarter of 2025.
“This substantial investment in the data center sector reflects our commitment to advancing digital infrastructure and supporting the technological transitions that are essential for future growth and innovation,” said Hussain Sajwani, the Founder and Chairman of Damac Group.
In addition to the technological transitions and diversification, particularly in the data centers sector, Damac Group is heavily focusing on its Artificial Intelligence (AI) investments.
The increased focus on AI and technological infrastructure, he stated, is expected to bolster the Group’s existing portfolio and pave the way for new strategic partnerships and collaborations.
By investing in AI and data centers, it aims to leverage advanced technologies to create value and drive sustainable growth, he added.
The Damac Group’s diversified family office has already invested in over 70 funds across various strategies, demonstrating its commitment to fostering innovation and growth across multiple industries.
With this new focus on AI, the Group aims to further enhance its role in advancing foundational AI models and infrastructure.
“As a forward-thinking organization, we recognize the transformative potential of AI in shaping the future,” remarked Sajwani.
“Our increased investment in AI reflects our commitment to supporting the development of groundbreaking technologies that can drive significant progress and create new opportunities across various sectors,” he stated.
According to him, Damac has made notable investments in leading AI companies including a $50 million in the AI startup, Anthropic – as one of the top investors who have bought into the company from the bankrupt cryptocurrency exchange, FTX.
Also it has made investments in xAI – an American AI startup founded by Elon Musk and in Mistral – a France-based AI company which is one of the best European large-language model open source.
“We are excited to be part of the AI revolution and to contribute to the growth of this dynamic industry,” said Sajwani.
“Our investments in companies like Mistral, Anthropic, and xAI underscore our dedication to fostering innovation and driving the next wave of technological advancements,” he added.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
