PayPal Holdings Plc has invested $100 million to drive innovation, support entrepreneurs, and enhance inclusive growth across Africa and the Middle East.
The funding will be channelled through strategic investments, acquisitions, venture backing, and technology rollouts.
According to PayPal, the initiative is designed to help local businesses expand, empower innovators, and bring millions of people into the digital economy.
“The Middle East and Africa are home to some of the most dynamic and rapidly evolving businesses in the world. By dedicating a $100 million investment to this region over the coming years, we’re investing in the technologies, partnerships, and solutions that will help entrepreneurs scale faster, expand their reach beyond borders, and unlock new opportunities for growth in the digital economy,” said Alex Chriss, president and CEO, PayPal.
This comes months after PayPal launched its first regional hub in Dubai, created to strengthen cross-border trade by offering businesses, from large corporations to small merchants, easier payments, stronger security and improved access to global markets.
Speaking on the development, Otto Williams, senior vice president, regional head and general manager of PayPal Middle East and Africa, said the investment highlights the company’s dedication to expanding its presence in the region.
He added that PayPal is determined to strengthen its footprint while ensuring consumers and businesses have greater access to the digital tools they need to thrive.
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