Media startup wants to be the Bloomberg for gen Z

Egyptian billionaire Naguib Sawiris recently launched Moniify, a media startup based in the United Arab Emirates that aims to reshape how young audiences in the Arab Gulf states, India, and Southeast Asia consume business and finance news. 

This comes as the media industry struggles in a world where audiences are increasingly turning to social media to get their news. 

“Young people always ask me [about] my secret to success, so why not create a platform to guide them?” Sawiris said in an interview with Tech in Asia in Dubai last month. (Disclosure: Moniify sponsored the trip to the launch.)

Naguib Sawiris / Photo credit: Moniify

The startup produces articles as well as short and long-form videos hosted on its website. Snippets or clips of its content are distributed through its social media channels.

Sawiris, who serves as Moniify’s chairman and sole investor, has reportedly invested tens of millions of dollars in the new media company. 

Don’t overlook the young 

Sawiris notes that big media outlets like Bloomberg and CNBC largely ignore younger viewers and look at “emerging markets through a Western lens.” 

Moniify – pronounced as “money-fy” – has assembled a team of 120 people, with Euronews ex-boss Michael Peters serving as CEO. The company has aggressively recruited journalists to build a newsroom led by Ted Kemp, who was managing editor at CNBC International in Singapore. 

Moniify plans to roll out a mobile app in 2025, offering features such as entrepreneur-investor matchmaking. It is also eyeing an expansion into Africa and Latin America.

The company made its intention to capture young audiences clear from the outset. 

For example, the first episode of its video series Moniify Playbook spotlights the commercial space industry and features an explainer aimed at guiding young investors. One TikTok video, for instance, discusses how the Labubu trend has taken Asia by storm.

Labubu plush toys / Image credit: Pop Mart

While social media plays a vital role, Moniify advisor Yaser Bishr clarifies that it’s merely a tool to drive traffic to the company’s platform, where monetization strategies like premium subscriptions, sponsorships, and events will take shape. However, the company did not disclose a timeline for these plans.

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