Investing in digital payments and ICT sectors through AKA Partners

Ali Kassab connects the region with simplified payment solutions

Dubai, February 22, 2017

UAE businessman, Ali Kassab, is leading the region’s digital revolution and changing the way companies manage payment solutions. The entrepreneur has recently ventured into private equity funding with the launch of AKA Partners. His firm will be investing in fin-tech businesses across the Middle East region, starting with Wow Pay MENA, a digital payment platform. He has also been appointed CEO of MBME, a veteran in the payment industry which is the leading kiosk payment solution provider in the UAE.

Since the company’s formation in November 2016, AKA Partners has made three key investments into the digital payments and ICT industries over the last two months. A joint venture with a leading Abu Dhabi-based group, Wow Pay MENA is one of the firm’s first major investments. A payment solution at point of sale (POS), Wow Pay’s objective is to empower retailers with comprehensive digital payment solutions for their business, while making consumers’ lives simpler through convenient payment options. In February 2017, Wow Pay MENA acquired 100 per cent shares in Sky Telecom Tunisia, rebranding the company to Wow Pay Tunisia and embarking with the launch of 700 POS across the country before end of Q1 2017.

A well-known regional business figure, Kassab recently stepped down as CEO at Sky Telecom Group to pursue his plans of accelerating the growth of SMEs across the region. His latest direction is in line with the UAE Government’s own focus on SMEs as a driver for the economy and innovation, a key part of the 2020 Plan. Since his departure from Sky Telecom, Mr Kassab retains ownership of Sky Telecom Tunisia and its employees (now Wow Pay Tunisia). Sky Telecom UAE continues to be managed by Bin Butti International Holdings (BBIH), pursuing its vision to be a leading digital enabler for telecommunication services.

“Nearly AED845 billion of consumer payments to government entities and merchants are processed each year in the UAE,” says Kassab. “As the region’s payments become cashless, I believe in empowering companies with the technology and know-how to 

capitalise on the digital revolution, creating simplified yet comprehensive payment solutions which combine efficiency, flexibility and enhanced customer satisfaction.”

Kassab is a self-made businessman and serial entrepreneur whose interests range from technology to telecommunications. A tireless innovator, he has over two decades of experience across multi-national cloud software organizations and digital payment companies, building them into multi-billion dirham enterprises. During his ten years as CEO of multi-national IT companies, he has led the way in terms of enhancing customer experience, driving the region’s cloud revolution, evolving telecoms technology, and transforming the retail experience, generating additional revenue through new and innovative channels.