Saudi Arabia-based fintech Hala acquires UAE’s Paymennt.com aiming to excel in SME sector

The officials from Saudi-based regional Fintech HALA acquires UAE’s payment startup Paymennt.com during the LEAP exhibition in Riyadh from Feb 6 till Feb 9. (Photo courtesy: HALA)
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Updated 14 February 2023
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Saudi Arabia-based fintech Hala acquires UAE’s Paymennt.com aiming to excel in SME sector

  • The acquisition will allow Hala to further enhance its product offerings through online payments
  • Hala cofounder says will soon announce another acquisition to help support regional entrepreneurs 

ISLAMABAD: Hala, a Saudi Arabia-based regional fintech company, has announced that its holding company acquired United Arab Emirates (UAE) startup Paymennt.com during the 2nd edition of the LEAP exhibition in the Saudi capital of Riyadh. 

Paymennt.com, formerly known as Point Checkout and established since 2017, is a payment service provider that is regulated by the Abu Dhabi Global Market’s RegLab, and with offices across the UAE and Jordan. 

The startup serves more than 2,000 micro and small businesses by offering them a platform to support their offline-to-online journey along with an integrated online payment solution and has managed to grow by over 250 percent in payment processing year-over-year.

The acquisition will allow Hala to further enhance its product offerings by incorporating online payments, thus enabling its SME customers to increase their online presence.

"Our expansion will not stop here, soon we will announce another acquisition in MENA (Middle East and North Africa) to help and support regional entrepreneurs and SMEs (small-media enterprises) in the region," Hala co-founder Esam Al-Nahdi said in a statement on Tuesday.

"Also our product portfolio will be expanded to enable entrepreneurs and SMEs."

Hala has made progressive leaps within the fintech industry ever since it commenced its operations in 2018, according to the fintech firm. The company witnessed a significant growth in 2022 by doubling its customer base and revenues year-over-year.

“We are excited to welcome Paymennt team to our family to join us in executing our shared vision. The trigger was simple, we met smart entrepreneurs who share a similar vision and who are building a complementary product that clearly fits within our strategy,” Maher Loubieh, another Hala co-founder, announced during the LEAP conference last week.

"With more to come, this is our first endeavor outside our homeland and is the first block towards executing our global vision. We believe integrating the offering of Paymennt.com with that of Hala will provide a major added-value for our customers in Saudi and in UAE."

“It’s a privilege to join a key player in the region’s FINTECH ecosystem, one that shares our commitment and passion to cater to the needs of SMEs,” Paymennt.com CEO Bashar Saleh said, terming the acquisition a “major step forward” for SME payments.

"We are very proud of what our team has achieved to date, having gained the trust of our merchants in processing their payments. Now, being part of the Hala family, we can better serve our customers and grow across the Middle East and beyond."

The LEAP exhibition is a global tech convention that provides a platform for bringing together one of the finest brains in the global tech industry from around the world to discover new ideas, build partnerships, and connect with inspiring mentors and investors to tap into the limitless potential of tech for a positive future.  

The 2nd edition of the conference was held in Riyadh from Feb 6 till Feb 9, which featured innovative technology solutions and products for leading global information technology and telecommunication-related companies.


Middle East poultry exhibition in Riyadh focuses on value engineering

Updated 14 May 2024
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Middle East poultry exhibition in Riyadh focuses on value engineering

  • The conference seeks to enhance the use of modern technologies, through the showcasing of more than 800 supply chain products by the sector’s leading companies

RIYADH: Experts in the poultry industry gathered in the Saudi capital to share knowledge on ways to enhance business value in the sector.

The Middle East Poultry Exhibition, an annual event in its third year, is running until May 15 and expected to attract thousands of visitors.

Abdulrahman Al-Fadhli, the minister of environment, water and agriculture, opened the conference being held at the Riyadh International Convention and Exhibition Center on Monday.

The three-day event includes more than 100 experts in the poultry, fodder, and animal nutrition sectors, and about 300 companies from 40 countries around the world.

The exhibition is being held under the slogan “Maximizing value and reducing costs: Value engineering in the poultry industry.”

The conference seeks to enhance the use of modern technologies, through the showcasing of more than 800 supply chain products by the sector’s leading companies.

The meeting offers opportunities for the exchange of experiences and practices in the sector and other related industries, and the review of investment opportunities to contribute to GDP, and in an effort to achieve the goals of the National Food Security Strategy, the Saudi Press Agency reported.

“The total amount of support provided to the poultry sector through the agricultural subsidies program amounted to more than SR665 million”, according to the Al-Fadhli’s ministry, the expo said.

The Kingdom aims to achieve a poultry meat self-sufficiency rate of 80 percent by 2025, according to the SPA.

The sector is one of the fastest growing in the Kingdom, due to support through government facilities for poultry projects, and increased private sector investment.

 


Series of inspired redirections leads rising star in Saudi cinema to Cannes screening

Updated 13 May 2024
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Series of inspired redirections leads rising star in Saudi cinema to Cannes screening

  • The filmmaker’s AlUla Creates project is set to be partially screened at Cannes Film Festival

JEDDAH: Filmmaker Hanaa Alfassi, from Jeddah, is a rising talent in the nascent world of Saudi cinema, rubbing shoulders with iconic directors like Haifa Al-Mansour.

Her latest project, “When the Shelves Hymn,” created under the working title “Bygones,” is a coming-of-age drama that is currently in post-production. A scene is set to be screened at a Film AlUla event at Cannes Film Festival this week and the film is part of the AlUla Creates initiative, with Al-Mansour present as one of the mentors on set.

The Saudi filmmaker’s upcoming film was shot in AlUla’s old town area. (Supplied)

“We were fortunate to have the director Haifaa Mansour provide valuable feedback during the development process.” Alfassi told Arab News. “She is a very kind and inspiring filmmaker, and we were glad as a team to have her visit the set.”

Collaborating closely with industry veterans like Moayad Abualkhair and Al-Mansour, Alfassi benefited from robust feedback loops that significantly enhanced the development process.

HIGHLIGHTS

• Hanaa Alfassi also served as a judge at the 10th Saudi Film Festival, which was held recently this month in Dhahran.

• Her cinematic perspective was profoundly influenced in 2012 during the premiere of ‘Wadjda’ at the Tribeca Film Festival in New York City.

• A film she was involved in, ‘In Between,’ directed by Dalia Bakheet, was selected for the Annecy Film Festival in 2019.

• Her initial foray into the digital arts began with a 3D animation course in 1999 during her high school years in Egypt.

She also faced numerous challenges while filming “When the Shelves Hymn.”

“Despite unexpected delays, the team utilized these interruptions for in-depth discussions and rehearsals, adding depth to their work,” she said.

The Saudi filmmaker’s upcoming film was shot in AlUla’s old town area. (Supplied)

Filming in the old town of AlUla was a deliberate choice, intertwining the narrative with the historic location’s enchanting landscapes.

“The choice of an antique shop in the old town was not only organic to the story but also perfectly aligned with the location’s authenticity,” the filmmaker said.

We were fortunate to have the director Haifaa Al-Mansour provide valuable feedback during the development process.

Hanaa Alfassi, Saudi filmmaker

“Despite the numerous regulations governing shooting location, as it’s a perceived UNESCO heritage site, the production design team led by Amany Wahba and Theory PS ensured strict adherence to all requirements.”

The Saudi filmmaker’s upcoming film was shot in AlUla’s old town area. (Supplied)

The support from mentors throughout the production was crucial as it helped fine-tune the script, enrich the film’s direction, and ensure the final product was not only a reflection of Alfassi’s vision but also collaborative filmmaking.

“Their support went beyond just providing feedback; it was a source of encouragement and motivation throughout the process,” she told Arab News.

Alfassi also served as a judge at the 10th Saudi Film Festival, which was held recently this month in Dhahran, a task that provided her with a unique vantage point and offers opportunities to partake in meaningful discussions.

“Serving as a jury member is also a learning experience exposing me to a diverse range of films and viewpoints as well as true discussions about the nature of cinema as an art form,” she said.

Alfassi’s cinematic perspective was profoundly influenced in 2012 during the premiere of “Wadjda,” the first feature-length film made by a female Saudi director (Haifaa Al-Mansour) at the Tribeca Film Festival in New York City. The film was the Kingdom’s official submission for the foreign language film category in the 86th Academy Awards, marking the first time the country submitted a film to the Academy for consideration.

At the premier, surrounded by a diverse audience, Alfassi was struck by the universal curiosity and connection films can foster. “It was a moment filled with excitement and curiosity as we witnessed people from diverse backgrounds and cultures come together to experience a film from a different place,” she said.

“This sense of curiosity has always been a part of me, but the experience reinforced its importance. It’s crucial for me today to maintain this curiosity, as it enables me to tell diverse narratives and explore new perspectives.”

Her entry into the world of filmmaking was not straightforward, but rather a series of inspired redirections. Her initial foray into the digital arts began with a 3D animation course in 1999 during her high school years in Egypt.

Although the emerging digital era fascinated her, Alfassi found the detailed process of animation to be too time-consuming. This led her to explore photography, which temporarily satisfied her storytelling impulses. However, her desire to tell dynamic, evolving stories only grew from there.

Alfassi enrolled in the filmmaking institute, setting her career trajectory firmly toward the cinema. “As I pursued my studies in mass communication at University of Ain Shams, my mother discovered a new institute founded by one of Egypt’s renowned filmmakers, Rafat Al-Meehi,” she said. “I enrolled, balancing two years of filmmaking education alongside my college curriculum.”

Over the years, Alfassi has contributed to various short films both as a director and producer. One of these, “Lollipop,” received a financial award from the ENJAAZ Dubai Film Market’s production support fund and gained support from The Heart Productions and the Industry Lab at the New York Film Academy.

“Lollipop” has been showcased at several prestigious festivals, including the Dubai International Film Festival and the Malmo Arab Film Festival. It was also featured in the “Hope” program by ANHAR, the Arab Network for Human Rights Films.

Another project she was involved in, “In Between,” directed by Dalia Bakheet, was officially selected for the renowned Annecy Film Festival in 2019.

From being inspired by a film by Al-Mansour to becoming a film director herself and having Al-Mansour on site, Alfassi’s hard work and perseverance has clearly paid off. Late last year at the 2023 Red Sea International Film Festival, alongside her colleagues Jade and Mana Al-Majd, she clinched one of the two awards in the TV Series Lab category for their comedy TV pilot set in Saudi Arabia, an achievement she considers an honor.

Alfassi’s journey in filmmaking is a compelling narrative of passion, adaption, and perseverance.

Looking ahead, the Saudi filmmaker is enthusiastic about her participation in future festivals and is keen to leverage platforms like the Cannes Film Festival to broaden her network and introduce her work to a global audience.

 


Saudi HR ministry launches wage protection service for domestic workers

Since July 1, Saudi Arabia has implemented the Wage Protection Service for domestic labor salaries. (Shutterstock)
Updated 13 May 2024
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Saudi HR ministry launches wage protection service for domestic workers

  • Paying the salaries of domestic workers through specific formal channels has several benefits for the employer because it provides proof of wages paid for domestic labor

RIYADH: The Saudi Ministry of Human Resources and Social Development has launched the Wage Protection Service for domestic labor salaries, starting July 1.

The move is part of ministry initiatives to develop the domestic labor sector and ensure the rights of employers and domestic workers.

The service aims to facilitate and ensure transparency of salary payments by using digital wallets and banks authorized on the Musaned platform. This service promotes safety and reliability in transferring salaries, thereby preserving the rights of contractual parties, the Saudi Press Agency reported.

HIGHLIGHT

The service is expected to include all domestic workers by Jan. 1, 2026.

The ministry said that the service applies to domestic workers under new contracts and will be applied to current contracts in stages, depending on the number of domestic workers for each employer.

The ministry also noted that the service will be applied to those who have more than four domestic workers starting Jan. 1, 2025, to those who have three or more domestic workers starting July 1, 2025, and to those who have two or more domestic workers starting Oct. 1, 2025.

It added that the service is expected to include all domestic workers by Jan. 1, 2026, mentioning that it has been optionally available on Musaned since April 1, 2022, and has received widespread positive interaction from customers and contractual parties.

Paying the salaries of domestic workers through specific formal channels has several benefits for the employer because it provides proof of wages paid for domestic labor, makes it easier for the employer to terminate the worker’s procedures at the end of the contractual relationship or when traveling, and protects the employer and the employee in the event of a disagreement.

 

 


Launch of Makkah Route Initiative at Karachi airport aims to facilitate Hajj pilgrims’ journey: official

The Director-General of Passports Lieutenant General Sulaiman bin Abdulaziz Al-Yahya speaks at Karachi airport on Monday. (SPA)
Updated 13 May 2024
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Launch of Makkah Route Initiative at Karachi airport aims to facilitate Hajj pilgrims’ journey: official

  • Al-Yahya said the introduction of a mobile counter-verification device is streamlining procedures for beneficiaries of the initiative

RIYADH: The launch of the Makkah Route Initiative at Karachi’s Jinnah International Airport aims to facilitate pilgrims’ journeys, the Director-General of Passports Lieutenant General Sulaiman bin Abdulaziz Al-Yahya has said.

Speaking during Sunday’s launch of the initiative at the airport, Al-Yahya said the introduction of a mobile counter-verification device, equipped with AI and innovative digital solutions, is streamlining procedures for beneficiaries of the initiative.

The initiative was launched in 2019 and 11 airports across seven countries are currently participating, Saudi Press Agency reported.

The initiative aims to provide high-quality services to Hajj pilgrims from beneficiary countries.

As part of the initiative, biometric data is collected in the pilgrim’s home country and the necessary procedures are carried out there. An electronic Hajj visa is also issued in the pilgrim’s country.

The Kingdom’s General Directorate of Passports will ensure that health requirements are met before pilgrims enter the country, and baggage will be coded and sorted according to transportation and accommodation arrangements.

Pilgrims will be transported to their residences in Makkah and Madinah by bus and partner agencies will transport their luggage separately.


Who’s Who: Fahad Alhagbani, co-founder and CEO of Armah Sports Co.

Fahad Alhagbani
Updated 13 May 2024
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Who’s Who: Fahad Alhagbani, co-founder and CEO of Armah Sports Co.

Fahad Alhagbani is vice chair and CEO at Armah Sports Co. where, since January 2019, he has been responsible for guiding the organization toward innovation in the fitness industry.

He co-founded Fitness Time in 2006, and by 2018, under his leadership, it had grown from one club to the largest chain in the Middle East and the 15th worldwide with 150 clubs. He was its CEO between 2015 and 2018.

After a successful IPO (initial public offering) for Fitness Time on the Saudi Stock Exchange in September 2018, he launched Armah Sports Co, reinventing fitness with the “Smart Clubs” concept to transform the market.

In November 2023, Alhagbani led the IPO for Armah Sports, setting a precedent in the fitness industry by launching two fitness chains and taking them public with only a five-year window between the two IPOs.

He has been a board member at Al-Hilal Saudi Football Club since July 2023, a member of the Saudi Olympic and Paralympic for Women in Sports Committee since June 2023, and a member of REX Roundtables for Executives since 2017, a worldwide group of 17 fitness club owners and CEOs who meet regularly to exchange insights, evaluate business performance, and discuss future industry disruptions.

With more than 25 years in the fitness industry, Alhagbani’s interest lies in creating social impact, championing healthy living, and advocating for social responsibility.

He is invested in exploring innovations and leading programs focused on development and transition within the sector.

His career in the fitness industry began in 1996, starting from a receptionist position at Body Masters, which was founded by his brother Abdulmohsen Alhagbani, and advancing to become the director of operations.

He holds a bachelor’s degree in computer and IT administration and management from King Saud University. He is currently pursuing an executive MBA from HEC Paris, specializing in board governance.