Marrakech, Morocco – April 16, 2025
As part of its global expansion strategy and commitment to fostering international partnerships, Elm, a pioneer of digital solutions, has signed a Memorandum of Understanding (MoU) with Kuba, an international company specializing in smart mobility and digital payment technologies. The agreement was signed during Elm's participation in GITEX Africa 2025, held in Marrakech, Morocco from April 14 to 16, under the auspices of the Ministry of Digital Transition and Administration Reform, in partnership with the Moroccan Digital Development Agency.
The MoU aims to explore collaboration opportunities between the two parties in developing innovative digital solutions and delivering technology services tailored for emerging markets, particularly across the Middle East and Africa. The cooperation also includes launching advanced digital products and joint initiatives that support digital transformation for public and private sector entities, enhancing operational efficiency and improving service delivery.
The MoU was signed by Hakeem Alrasheed, General Manager of International Services at Elm, and Tarik Dinane, General Manager of Kuba, in the presence of senior executives from both sides. This partnership marks a new step in Elm's journey to building international alliances that keep pace with rapid technological advancement and open new opportunities to share its digital expertise with promising global markets.
Commenting on the agreement, Majid bin Saad Alarifi, Elm's Official Spokesperson and Executive Vice President of Marketing, stated:
"Our collaboration with Kuba reflects Elm's strategy to build high-impact global partnerships and leverage our technical expertise to serve international markets—particularly the African continent, which we view as a fertile ground for digital growth. We believe this partnership will result in forward-looking mobility and payment solutions that contribute to sustainable development goals."
The signing of this MoU aligns with Elm's strategy, which focuses on building effective international partnerships and strengthening the company's presence in global markets through advanced digital initiatives that support digital transformation and foster innovative business models that enhance service efficiency and technology reliability. These efforts are in line with the notable progress reflected in global digital service indicators, as well as Elm's leadership in the fields of fintech and e-commerce, exemplified by the success of its flagship services “Dhamen" and “Yakeen."
Kuba is a globally recognized leader in smart ticketing and cashless payment technologies. Launched in 2019 and backed by over 30 years of experience in fare collection, Kuba offers flexible, cloud-based solutions that enable contactless payments and Mobility as a Service (MaaS). Its technologies are currently being deployed in over 500 cities and regions worldwide. Kuba is part of the ICM Mobility Group portfolio, an international investment group dedicated to supporting innovation in the smart mobility and transportation sector.