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Dubai, UAE – October 24, 2024: Astra Tech, a UAE-grown technology powerhouse, announces its strategic engagement with the World Economic Forum (WEF) during the Annual Meeting 2024 in Dubai, UAE.
This partnership marks a defining moment for Astra Tech as it steps onto the global stage, showcasing the UAE’s leadership in digital transformation and artificial intelligence (AI) advancements. Through this collaboration, Astra Tech aligns itself with WEF’s Centre for the Fourth Industrial Revolution (C4IR), propelling its mission to drive responsible and ethical technological development worldwide.
The signing ceremony took place during the Annual Meeting of the Global Future Councils, with Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim, and Alexandre Raffoul, Member of the Executive Committee at WEF, in attendance. This collaboration also follows WEF’s announcement of a custom-built Strategic Intelligence platform to support the implementation of “We the UAE Vision 2031”, reinforcing the UAE’s commitment to using AI and advanced technologies for long-term, strategic policymaking.
As a homegrown company, Astra Tech embodies the UAE’s ambition to become a global leader in AI and fintech. With its disruptive Ultra Platform, Astra Tech is revolutionizing digital ecosystems by integrating fintech, AI-powered solutions, and conversational commerce into one seamless experience for over 155 million users globally. Its flagship app, Botim, is central to this initiative, simplifying communications, payments, and e-commerce for millions, a vision aligned with WEF’s focus on transforming global governance of emerging technologies.
“We are proud to join the World Economic Forum in shaping the future of AI and digital finance,” said Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim. “Our Ultra Platform is not just technology—it’s an enabler of global financial inclusion, ethical AI, and digital equity. Through this partnership, we are poised to extend the UAE’s vision of a fully digitized future to a global audience, demonstrating how technology can be harnessed to address the world’s most pressing challenges.”
Alexandre Raffoul, Member of the Executive Committee, World Economic Forum, added: “The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas.”
By joining WEF’s C4IR, Astra Tech strengthens its position as a leader in the Fourth Industrial Revolution, bringing together key players across sectors to foster global collaboration. This engagement will allow Astra Tech to contribute to global discussions around building robust digital infrastructure, promoting financial inclusion, and developing AI governance frameworks that reflect the UAE’s leadership in the region.
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About Astra Tech:
Astra Tech is the leading consumer technology holding group in the MENA region, focused on transforming everyday services through its Ultra app. The group’s portfolio includes PayBy, Rizek, Botim, and Quantix. Quantix is the first fintech in the UAE to receive a Finance Company License from the Central Bank of the UAE (CBUAE) since 2008. PayBy holds Stored Value Facility (SVF) and Retail Payment Services (RPSCS) licenses, further solidifying Astra Tech’s position in the financial technology sector.
The Ultra app, developed under Botim, operates in 155 countries and serves over 150 million users, providing secure VoIP calling and integrated services such as international money transfers, bill payments, and UAE visa services. Astra Tech is committed to advancing technology and enhancing user experience across the region.
Additional information may be found at www.astratech.ae | LinkedIn: www.linkedin.com/company/astratechgroup/
About the Annual Meeting of the Global Future Councils 2024
The Annual Meeting of the Global Future Councils is taking place from 15 to 17 October in Dubai, United Arab Emirates. The meeting will bring together over 500 global experts to exchange insights, explore emerging trends and accelerate solutions to the world’s most pressing challenges around three key themes: innovation for inclusive growth; climate action, nature protection and the energy transition; and building trust for global collaboration. Insights from the meeting will shape the World Economic Forum’s work throughout the coming year, including the Annual Meeting 2025 in Davos.
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