Happy Sunday everyone!

In a flurry of economic moves across regions, the Qatari royal family has pledged a massive $31 billion investment in Botswana and Zambia, signaling Gulf money’s growing interest in Africa. In Damascus, Syria is preparing to revalue its battered currency by dropping two zeros, an attempt to restore stability after years of hyperinflation. Meanwhile, Cairo is looking east, seeking over $2 billion in Indian investments as ties between Egypt and India deepen.

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Qatari Royal Family Pledges $31 Billion Investment in Botswana and Zambia

🔹 What Is It About

Al Mansour Holdings, owned by Sheikh Mansour bin Jabor bin Jassim Al Thani, has committed $12 billion to Botswana and $19 billion to Zambia, targeting sectors from infrastructure and energy to agriculture, tourism, cybersecurity, and defence. In Zambia, the deal includes building 1.5 million homes, creating a national investment bank, and boosting agro-processing and export value chains.

🔹 Why It Matters

These are among the largest bilateral investment deals in the region, reflecting growing Gulf interest in Africa’s $2.8 trillion economy, vast arable land, and rich mineral resources. The investment could address immediate development challenges and accelerate economic growth.

🔹 What’s Next

Implementation will span multiple sectors across both nations, with potential partnerships between Gulf investors and local governments. The scale of investment underscores Africa’s strategic role in global economic, food, and security interests, highlighting the need for $402 billion annually to meet development goals.

Markets

Syria Will Revalue Its Currency, Dropping Two Zeros to Restore Stability

🔹 What Is It About

Syria plans to issue new banknotes in December, removing two zeros from the pound in an effort to restore confidence after the currency lost over 99% of its value since 2011. The central bank has partnered with Russian state-owned printer Goznak to produce the new notes, which will circulate alongside old bills for a 12-month transition period.

🔹 Why It Matters

The move aims to ease daily transactions amid severe dollarisation, reduce cash hoarding, and give authorities better oversight of the 40 trillion pounds estimated to be outside formal banking channels. It also signals a symbolic break from Assad-era currency designs.

🔹 What’s Next

Syrian banks are preparing infrastructure tests and public awareness campaigns ahead of the December 8 rollout. Experts warn of potential confusion among citizens and high implementation costs, while the government navigates gaps in regulatory and territorial control.

Egypt Seeks Over $2 Billion in Indian Investments Amid Strengthening Ties

🔹 What Is It About

Egypt is looking to attract more than $2 billion in investments from Indian companies over the next 18 months. Indian investors are exploring opportunities in chemicals, fertilisers, pharmaceuticals, renewable energy, green hydrogen, IT, textiles, and ready-made garments, leveraging Egypt’s raw materials, energy resources, and preferential trade agreements with Europe and Africa.

🔹 Why It Matters

India is already one of Egypt’s top five trading partners, with more than 55 Indian companies operating locally and investments exceeding $3.7 billion. Strengthening bilateral trade could boost Egypt’s economy while deepening strategic ties between the two nations.

🔹 What’s Next

Trade between Egypt and India is projected to grow 10% year-on-year to $4.6 billion in 2025. Egypt will continue promoting investment opportunities, hosting exploratory visits from Indian companies and seeking partnerships to expand industrial and renewable energy projects.

👨‍💻From Smashi Business’ Desk

• Dreamers: From handling deliveries himself to shaping the MENA startup ecosystem: Meet Fadi Ghandour, founder of Aramex and Wamda Capital.

• Calo’s Moayed Almoayed backs Saudi vacation rental giant Gathern!

• Y Combinator founder Paul Graham: “A Palestinian Child’s Life Is Worth as Much as an Israeli Child’s Life”.

• Hamad Mubarak Al-Hajri, founder and CEO of Snoonu, condemned attempts to silence the truth—highlighting both the killing of journalists and AI platforms being muted for reporting facts.

• DAMAC Chairman Hussain Sajwani met steel titan Lakshmi Mittal in London! Sajwani praised Mittal’s “remarkable vision and pioneering contributions” and thanked him for his warm hospitality.

🔍In other news…

• Dubai ranks among the top 20 cities in the world for wealth and houses 81,200 millionaires

• ADNEC Center Abu Dhabi becomes first MENA event venue fully powered by clean energy

• ADIA's Subsidiary Takes Minority Stake In $12.3B Dayforce Deal By Thoma Bravo

🏦 Crypto Corner

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

We are launching a Smashi Crypto newsletter in September 2025! Subscribe to it here to get the weekly updates from the world of digital assets.

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