50445 - Vuz

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Investment Information

Project Number

50445

Company Name

360MEA Ltd

Date SPI Disclosed

Dec 24, 2024

Country

Jordan

Region

Middle East

Projected Board Date

Jan 24, 2025

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Apr 17, 2025

Department

Equity Portfolio Management

Industry

Telecommunications and Technology

Previous Events

Approved : Feb 19, 2025
Signed : Mar 13, 2025
Invested : Apr 15, 2025

Sector

Content (B2C Companies)

Project Description

The proposed project comprises an up to US$5 million investment in (“VUZ” or the “Company”) in the form of Convertible Notes as part of a US$12 million pre-Series C round. VUZ is a leading global immersive content platform with offices in Jordan, UAE, and Saudi Arabia. Leveraging proprietary technology, content creators, and exclusive partnerships such as LaLiga, Serie A, and PFL, Vuz creates, distributes and monetizes premium creator-driven, entertainment, sports, and educational content in augmented reality, 360 degrees, and virtual reality.

Associated Advisory Engagement

IFC proposes a participation of up to US$5 million in the pre-Series C round of US$12 million with use of proceeds to support the Company’s growth and expansion plan.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	5.0
Equity

Development Impact

IFC anticipates that the project will improve the livelihoods of content creators, i.e., creative microentrepreneurs, by scaling a platform that offers additional income opportunities. By expanding an online content distribution platform that connects creators with end-users and ensures a minimum number of projects for stable income, the project will increase earning opportunities. Furthermore, IFC's gender support aims for at least 63% of creative entrepreneurs on the platform to be women, providing upskilling and support for audience engagement and content monetization, thereby empowering women. In addition to improving livelihoods, the project aims to sustain the competitiveness of the media and entertainment market by integrating content creators and digital product innovations. The project is expected to contribute significantly to the industry, especially in Jordan and Iraq, by upskilling content creators, enhancing their visibility, and enabling multihoming for both creators and consumers. This will lead to broader market spillovers, including talent mobility and signaling the viability of the company's product innovations. Ultimately, the digitalization of the industry is expected to develop the content creation ecosystem and encourage the adoption of these innovations by new and existing players.

IFC's additionality in the project is primarily non-financial, focusing on knowledge, innovation, and capacity building. The Company aims to facilitate partnerships with telecom operators and improve benefits for end-users and content creators, especially women. To support this, IFC will connect the Company with potential investors, such as Sony, and introduce them to telecom operators and creative industry portfolio companies for potential partnerships. Through an IFC Advisory Program, the Company will onboard more female creators, train them to monetize their content, and develop sex-disaggregated data. Additionally, IFC will help build brand partnerships to promote gender diversity and representation in media. A broader training program will also be developed for all content creators, focusing on impactful, safe, and gender sensitive content on topics like health and education. Furthermore, IFC will support setting up a financing line for creators in collaboration with local banks, treating creators as MSMEs needing self-financing. On the standard-setting front, IFC will improve corporate governance at VUZ by introducing a corporate governance policy, a board charter, and developing an Audit Committee to enhance oversight of financial management and compliance. IFC will also assist in establishing an internal audit function, related party and transfer pricing policies, and ensure compliance with industry and regulatory requirements.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of Suppliers : brand partners	firms	Number of content creators in emerging markets	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment

E&S Category Rationale / Risks and Mitigation

This is a Category C project according to IFC's Environmental and Social Sustainability Policy. Based on a review of the environmental and social (E&S) aspects, the project involves a low level of E&S risk. Vuz is a media platform producing content for other businesses by developing exclusive content partnerships with major sports leagues and other entertainment entities. The business model includes both business to business (B2B) and business to consumer (B2C) revenue streams. Accordingly, while all IFC Performance Standards (PSs) are applicable to this project, the key E&S risks include: (i) labor and working conditions, and trainings covering freelance employees, and the employees located in the countries where Vuz does not have an office; (ii) emergency response and life and fire safety in the client’s offices; (iii) violations of the company’s Code of Conduct and Ethics through the platform engagement. Thus, E&S risks must be managed in a manner consistent with PS1 and PS2. IFC will require Vuz, by contractual covenants, to improve its existing Code of Conduct, Grievance Policy and employee trainings to cover gender-based violence and harassment (GBVH), zero tolerance for child labor and forced labor, freedom of association and life and fire safety measures in the offices; and to improve its platform rules for business partners to include rules related to human rights principles relevant to its business model, such as anti-discrimination, anti-harassment, violent content and language, and anti-racism. The company will also be required to inform IFC of any material changes in the nature or scope of its businesses.

Contacts

For Inquiries About the Project, Contact

360MEA Ltd
Khaled Zaatarah
CEO

zaatarah@vuz.com
Concord Tower - Al Sufouh - Al Sufouh 2 - Dubai - Émirats arabes unis
www.vuz.com

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local Access of Project Documentation

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Investment Information

Project Description

Associated Advisory Engagement

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation

Similar Projects

Contacts

Projects

Summary of Investment Information

Project Description

Associated Advisory Engagement

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

IFC's Investment as Approved by the Board

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

Governance Risk Assessment

IFC's Role and Additionality

Development Results

E&S Category Rationale / Risks and Mitigation

Environmental & Social Categorization Rationale

Press-Release

Related Environmental Document

Similar Projects

Contacts

Information on E&S Complaints and Grievance Mechanisms

Disclaimer