IR4LAB, a Saudi-based company specializing in disruptive technologies such as Blockchain and Artificial Intelligence, has announced that it would be expanding its operations into Africa.
The expansion is part of IR4LAB’s commitment to the African continent and their aim to spur innovation in deep technologies and implement use cases utilizing IR4LAB’s Blockchain solution, DocCerts as well as other solutions offered.
Mr. Mohamed El Kandri, CTO and Co-Founder of IR4LAB, stated that, “We are happy to be expanding 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 digitization, but also building local capabilities right from Morocco to Africa.”
According to Mckinsey & Company, Africa’s digital economy should top $712 billion by 2050 fostered by its youthful population, smartphone adoption, and internet penetration.
Mr. Majd Al Afifi, CEO and Co-Founder of IR4LAB said that, “More and more blockchain entities are setting up base in Africa, but we are glad that IR4LAB will be the first from Saudi Arabia to do so with the support of our leadership.”
As per the company, “This was not our first participation in Africa. In March at the first World Maintenance Summit 2023, held between 11th to 12th 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 specifically in industrial inspection.”
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