Waha Capital, an Abu Dhabi-based investment firm, has branched into fintech with a US$55 million investment in Dubai-headquartered credit service provider Channel VAS.
The fintech company, founded in 2012, provides airtime credit services for mobile telecoms operators in over 25 emerging markets, enabling micro payments and loans to over 500 million mobile subscribers.
“Through this acquisition, we are enhancing our portfolio by tapping into a high-potential industry and an innovative company backed by a best-in-class management team that already has an impressive track record, and is implementing a solid strategy for expansion.” said Salem Al Noaimi, CEO and Managing Director of Waha Capital.
_______________
Read more:
Waha Capital's profit falls on AerCap adjustment
Waha Capital unit to sell diagnostics lab
_______________
Waha Capital described the acquisition as a “significant minority stake,” giving no further details.
The investment firm last month reported a 36 per cent fall in second-quarter net income, dragged down by an adjustment of Dh66.6 million against the share of income from the New York-listed airline leasing company AerCap Holdings in which it has a stake.
The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Ipaf in numbers
Established: 2008
Prize money: $50,000 (Dh183,650) for winners and $10,000 for those on the shortlist.
Winning novels: 13
Shortlisted novels: 66
Longlisted novels: 111
Total number of novels submitted: 1,780
Novels translated internationally: 66
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
