PayPal Commits $100 Million to Boost Startups and Digital Innovation Across Africa and the Middle East
2 min read
PayPal has announced a US$100 million investment commitment targeting startups and businesses across Africa and the Middle East, aiming to accelerate digital innovation, entrepreneurship, and inclusive economic growth across the rapidly expanding digital commerce landscape.
According to the company, the investment will be deployed through a combination of minority investments, acquisitions, PayPal Ventures funding, and technology and talent development, focusing on helping local businesses scale efficiently and integrate into the global digital economy.
“The Middle East and Africa are home to some of the most dynamic and rapidly evolving businesses in the world,” said Alex Chriss, president and CEO of PayPal. “By dedicating a US$100 million investment to this region over the coming years, we’re investing in technologies, partnerships, and solutions that will help entrepreneurs scale faster, expand beyond borders, and unlock new opportunities for growth in the digital economy.”
This strategic commitment reinforces PayPal’s long-term interest in the region and builds upon PayPal Ventures’ previous investments in leading startups such as Tabby, Paymob, and Stitch. These ventures have been instrumental in advancing digital payments, e-commerce solutions, and fintech innovation across Africa and the Middle East.
Otto Williams, senior vice president and regional head and general manager of PayPal Middle East and Africa, noted that the investment reflects PayPal’s dedication to strengthening its footprint across both regions. “This commitment underscores our dedication to expanding PayPal’s presence in the Middle East and Africa,” Williams said. “Our focus is to build stronger connections between local businesses and the global marketplace, ensuring millions of consumers and enterprises can access the digital services they need to thrive.”
With this initiative, PayPal seeks to play a key role in empowering startups, improving access to digital financial tools, and fostering economic inclusion across emerging markets. The company’s investment is expected to boost innovation pipelines and support the next generation of technology-driven businesses poised to redefine commerce across Africa and the Middle East.
About The Author
