Akshay Dosaj became an entrepreneur in 2015 and managed six restaurant brands across 19 locations throughout the UAE.
Having scaled and exited multiple businesses of his own, he was well aware of the challenges at every step during a merger and acquisition transaction – finding professional help for marketing materials and financial projections, sourcing the right buyers, and accessing affordable legal services.
Additionally, securing an escrow agent – a third party who holds assets or a sum of money in safekeeping until completion of a contract – was nearly impossible, he recalls. Mr Dosaj shared these struggles with his friend Asif Rashid, who had spent a decade at Microsoft specialising in productivity and cloud computing.
With up to 700,000 SMEs in the UAE and an average lifespan of 8.5 years, there are numerous businesses that are either shut down or change ownership every single year
Asif Rashid,
co-founder and chief operating officer, Bidzi
Together, they envisioned automating and simplifying the mergers and acquisitions (M&A) process into a seamless, singular solution. They conceptualised Bidzi, a UAE-based digital platform that seeks to streamline that process amid the rapid growth of small and medium enterprises.
“With up to 700,000 SMEs in the UAE and an average lifespan of 8.5 years, there are numerous businesses that are either shut down or change ownership every single year,” says Mr Rashid, co-founder and chief operating officer of Bidzi. “These businesses require a range of high-quality corporate and M&A services at affordable prices – both of which are currently elusive due to the prevailing fragmented nature of these services and the high cost of expert advisers.
“For example, hiring a broker, a lawyer, an escrow agent and an M&A adviser can quickly raise the costs of selling one’s business, and the business owner may look at dropping essential services like legal support and escrow to finish the transaction. Bidzi addresses these challenges by simplifying and speeding up the business-selling process in the UAE.”
Bidzi, which went live in May, offers a curated marketplace of vetted businesses and connects sellers with qualified buyers. The platform simplifies the traditionally complex sale and acquisition process by consolidating all essential services, such as business valuation, production of high-quality marketing materials, buyer matching, due diligence, legal support and escrow, into a single platform.
“This is unlike the traditional approach that requires clients to engage multiple specialists including M&A advisers, brokers, lawyers and escrow agents,” says Mr Rashid. “This comprehensive approach simplifies transactions, making it easier for SMEs to navigate the complex M&A process.”
About 94 per cent of all companies operating in the UAE are SMEs, employing more than 86 per cent of the private sector labour force, data from the Ministry of Economy shows.
The Emirates aims to increase the number of SMEs operating in the country to one million by the end of 2030 as it seeks to boost their contribution to the economy. SMEs contribute 63.5 per cent to the country’s non-oil gross domestic product, Minister of Economy Abdulla bin Touq said last year.
Mergers and acquisitions activity in the Middle East and North Africa region surged to $86 billion in 2023, recording a 4 per cent increase from the previous year. In contrast, global M&A activity decreased by 15 per cent during the same period, according to research by consultancy EY this year.
The GCC region was pivotal in Mena’s deal-making activity last year, accounting for most of the deals with 565, valued at $83.2 billion. The UAE and Saudi Arabia accounted for 305 deals valued at $24.8 billion.
Bidzi’s focus is on SMEs with an enterprise value ranging from Dh1 million ($272,294) up to Dh100 million, the co-founders say.
Mr Rashid says a common mistake owners make when selling their businesses is failing to seek expert help. Engaging experienced professionals who can manage the entire exit process allows owners to focus on running their business, ensuring the sale proceeds efficiently, he explains.
They also have unrealistic expectations about the business's value. “We frequently see unprofitable businesses asking for inflated valuations, creating a significant gap between buyer interest and the asking price … finally, underutilising escrow services. Using escrow can provide ease in the minds of both parties during the licence and fund transfer process.”
Mr Dosaj, who is chief executive of Bidzi, recommends that business owners plan for a sale timeline of three months to a year, depending on the complexity of their business, data readiness and industry specifics.
The first step is to get the data ready for an information memorandum that outlines the business highlights, key financials, investment thesis, industry outlook, future projections and additional insights such as intellectual property registration and the presence of any debt, he explains.
“While selling a business typically involves 37 steps, the key ones focus on engaging and negotiating with a broker or M&A adviser, a law firm, an escrow agent, and a public relations officer,” says Mr Dosaj, who started his career in 2005 as a corporate lawyer at Norton Rose Fulbright (UK).
Once rates are agreed, each stakeholder plays a distinct role in the sale process. The broker or M&A adviser gathers the detailed company data to create the information memorandum that presents the business attractively to prospective buyers. The lawyer handles crucial documents such as the non-disclosure agreement, letter of intent, and the share sale and purchase agreement or the asset purchase agreement, and negotiates terms with prospective buyers, Mr Dosaj says.
The escrow agent manages the escrow agreement and fund disbursement when the deal is closed, while the public relations officer facilitates the licence transfer to the new owner, he adds.
With security measures, including anonymous listings and Know Your Customer verification, Bidzi seeks to safeguard buyers and sellers.
“Anyone can register as a buyer on Bidzi, but a KYC verification is run on each user before they are able to access the plethora of tools on the portal,” says Mr Dosaj. “Business owners wishing to sell are carefully vetted to ensure that only genuine and quality businesses are listed for the public.”
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
Bidzi charges the seller a flat fee of 5 per cent of the transaction value, payable upon completion of the sale.
The platform also offers marketing materials and business intelligence to support informed decision-making, addressing the critical need for verified information in the mergers and acquisitions process. Bidzi provides legal support for document creation, negotiation and finalisation.
“Our mission is to make the M&A process accessible and efficient for SMEs,” Mr Dosaj says. “Bidzi’s platform removes the complexities and barriers traditionally associated with M&A transactions, providing a transparent, secure and seamless experience that empowers businesses to make informed decisions.”
The company currently operates in the UAE, with most of the opportunities originating from Dubai and Abu Dhabi, the co-founders say. Plans include expansion into the wider GCC region, as well as India and Pakistan.
The start-up's clients range from serial entrepreneurs and high-net-worth individuals establishing their base in the UAE to established business owners seeking exits, they add. “We are currently working with clients across various sectors, including FinTech, retail, trading, electronics, manufacturing, health and wellness, and hospitality,” Mr Rashid says.
Bidzi is registered with Dubai’s Department of Economic Development and has an office in Emaar Square, Downtown Dubai. There is a team of nine employees and consultants working on UAE transactions. The company is bootstrapped with personal funds from the co-founders.
“Like many pioneering start-ups, Bidzi faces challenges in market education and building trust with clients unfamiliar with M&A processes,” Mr Dosaj says. “However, our commitment to simplicity and privacy, along with our expertise and experiences, has allowed our value proposition to resonate with entrepreneurs on both sides of the spectrum.”
Q&A with Bidzi co-founders Akshay Dosaj and Asif Rashid
What already successful start-up do you wish you had started?
Akshay: OpenAI
Asif: Telegram
What is your next big dream to make happen?
Akshay: Over the next 18 months, we plan to expand Bidzi beyond the UAE into key markets across the GCC, including Saudi Arabia, Kuwait and Qatar.
Asif: Orchestrate the successful sale of an array of businesses with a combined enterprise value of Dh500 million. We estimate that the average business’s asking price will range between Dh5 million to Dh10 million. Based on this, targeting the sale of 100 businesses, each valued at the lower end of Dh5 million, will allow us to achieve the Dh500 million goal.
What new skills have you learnt in the process of launching your start-up?
Akshay: I have always wanted to launch a tech start-up and working with Asif has provided great insight into what it truly takes.
Asif: I have learnt a great deal from Akshay on how to review legal documents, identify key clauses to watch out for, and recognise issues that can arise from poorly drafted transaction documents.
If you could start all over again, what would you do differently?
Akshay: I would have started earlier and launched Bidzi at least five years ago.
Asif: I would have started earlier as well.
Who is your role model?
Akshay: I draw inspiration from Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, whose visionary leadership and fearless pursuit of ambitious goals deeply resonate with my own aspirations for Bidzi.
Asif: I find [Nike co-founder] Phil Knight’s life story truly impressive and inspirational. From his humble beginnings, he trod uncharted waters, took on significant risks, and overcame setback after setback through relentless resourcefulness, ultimately building a brand recognised by billions worldwide.
COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
Sri Lanka-India Test series schedule
1st Test July 26-30 in Galle
2nd Test August 3-7 in Colombo
3rd Test August 12-16 in Pallekele
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
ACC%20T20%20Women%E2%80%99s%20Championship
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Origin
Dan Brown
Doubleday
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
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UAE%20SQUAD
%3Cp%3E%0DJemma%20Eley%2C%20Maria%20Michailidou%2C%20Molly%20Fuller%2C%20Chloe%20Andrews%20(of%20Dubai%20College)%2C%20Eliza%20Petricola%2C%20Holly%20Guerin%2C%20Yasmin%20Craig%2C%20Caitlin%20Gowdy%20(Dubai%20English%20Speaking%20College)%2C%20Claire%20Janssen%2C%20Cristiana%20Morall%20(Jumeirah%20English%20Speaking%20School)%2C%20Tessa%20Mies%20(Jebel%20Ali%20School)%2C%20Mila%20Morgan%20(Cranleigh%20Abu%20Dhabi).%3C%2Fp%3E%0A
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Company%20Profile
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
Company Profile
Company name: Big Farm Brothers
Started: September 2020
Founders: Vishal Mahajan and Navneet Kaur
Based: Dubai Investment Park 1
Industry: food and agriculture
Initial investment: $205,000
Current staff: eight to 10
Future plan: to expand to other GCC markets
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
UAE currency: the story behind the money in your pockets
JUDAS AND THE BLACK MESSIAH
Directed by: Shaka King
Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons
Four stars
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
FIGHT CARD
Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)
Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)
Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)
Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)
Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)
Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)
Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)
Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)
Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
