The region’s leading music streaming service Anghami is set to establish its global headquarters and a research and development center in Abu Dhabi.
The Lebanon-born company is making the move with the support of the Abu Dhabi Investment Office (ADIO)’s Innovation Programme and will open its new HQ in the city’s global tech ecosystem, Hub71.
In a tweet announcing the news, Anghami co-founder Elie Habib wrote that Abu Dhabi welcomed the company with “utmost support beyond their expectations.”
He added that the Emirati city “will invest in our team, technology, and research over the many years to come.”
Speaking to The961, Habib confirmed that Anghami will not shut down in Lebanon. “We will continue to have offices and teams and we are still recruiting in Beirut,” he said.
In a tweet, he promised that the company will continue recruiting fresh graduates and team members. It won’t give up on Lebanon, despite the hardships it faced here.
In 2012, Anghami revolutionized the way people listened to music in the Middle East and North Africa.
It competes against the likes of Spotify, Apple Music, Deezer, and more. Anghami also has offices in Dubai, Cairo, and Riyadh.
Earlier this month, the Dubai investment banking firm Shuaa Capital invested an undisclosed amount in Anghami, stating that it is “one of the leading and high-growth tech companies in the Middle East.”
The company has a bright future ahead of it, which it would have struggled to achieve in Lebanon. Like many Lebanese companies that have had to move out, it now has the chance to develop and grow faster than ever.
In midst of the economic crisis, Lebanese entrepreneurs have had to leave Lebanon for better opportunities elsewhere – if not shut down altogether.
With the deteriorating conditions, some Lebanese businesses, such as Feer McQueen, have even relocated to Cyprus. In addition, several international brands had to shut down in Lebanon last year.
Lebanon has also been losing its human assets by the hundreds, with many doctors and nurses already leaving.