Saudi-based blockchain company IR4LAB is expanding its operations to Africa

Saudi-based blockchain company IR4LAB is expanding its operations to Africa

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Saudi-based blockchain company IR4LAB is expanding its operations to Africa

During Gitex Africa (held in Morocco from May 31 – June 2, 2023, IR4LAB, a Saudi-based company specialized in disruptive technologies such as Blockchain and Artificial Intelligence., announced that it would expand its operations to Africa.

The expansion is part of IR4LAB’s commitment to the African continent and their goal to stimulate innovation in deep technologies and implement use cases using IR4LAB’s Blockchain solution, DocCerts as well as other solutions offered.

Mohamed El Kandri, CTO and co-founder of IR4LAB, who made the announcement at the event, stated: “We are excited to expand into the African market. We believe that Africa’s digital economy will grow and we want to be part of this growth in innovation and digitalisation, but also build local capacities from Morocco to Africa”.

According to Mckinsey & Company, Africa’s digital economy should top $712 billion by 2050, fueled by its youthful population, smartphone adoption and internet penetration.

Majd AL AFIFI, CEO and co-founder of IR4LAB, adds: “More and more blockchain entities are setting up base in Africa, but we are happy that IR4LAB will be the first from Saudi Arabia to do so with the support of our leadership” .

This was not their first participation in Africa. In March at the first World Maintenance Summit 2023, held between 11 and 12 May at King Mohamed 6 University in Marrakech (Morocco), organized by Morocco’s largest group OCP and its subsidiary OCP MS, IR4LAB presented on the use of Blockchain in industrial maintenance in general and especially in industrial inspection.

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At the event, EL KANDRI highlighted the role Blockchain can play in Maintenance 4.0 and the benefits of using Blockchain in industrial inspection, he has also provided real-life examples from IR4LAB’s current projects.

Before this During Saudi’s leading technology event LEAP 2023, held between 7-9 February in Riyadh KSA, IR4LAB and SGS (Saudi Ground Services), jointly announced the implementation of DocCert’s Blockchain management solution for all training-related digital documents and ground service equipment licenses issued by SGS at 28 Saudi Arabian airports where SGS provides ground services.

IR4LAB, was also recently accepted into the Ministry of Communications Information Technology tech champions accelerator program run by Silicon Valley’s Plug and play. Plug and Play was an early investor in Google, PayPal, Dropbox, LendingClub, N26, Soundhound, Honey, Kustomer and Guardant Health.

Distributed by APO Group on behalf of GITEX Africa.

About IR4LAB:
Saudi-based innovation-driven company specializing in disruptive technologies such as Blockchain and Artificial Intelligence. IR4LAB is Saudi Aramco’s first Blockchain Technology investment in Saudi Arabia.

IR4LAB is committed to increasing the use of advanced technology in Saudi Arabia and the world by implementing new business models or improving existing processes, especially building local capacities that can contribute greatly to achieving the Saudi 2030 vision. http://www.IR4LAB.com/

This press release has been issued by APO. The content is not monitored by the editors of African Business, and the content has not been checked or validated by our editors, proofreaders or fact-checkers. The issuer is solely responsible for the content of this announcement.

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