株探米国株
英語
エドガーで原本を確認する

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of December 2023

 

Commission File Number: 001-41263

 

Anghami Inc.

(Exact name of registrant as specified in its charter)

 

16th Floor, Al-Khatem Tower, WeWork Hub71
Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F ☒    Form 40-F ☐

 

 

 


 

EXHIBIT INDEX

 

Exhibit   Description
99.1   Condensed Consolidated Unaudited Interim Financial Statements as of and for the six-month periods ended June 30, 2023 and 2022.

 

1


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

 

Date: December 26, 2023 ANGHAMI INC.
     
  By: /s/ Edgard Maroun
  Name:  Edgard Maroun
  Title: Chief Executive Officer

 

 

2

 

 

Exhibit 99.1

 

 

 

 

 

 

 

 

ANGHAMI INC.

 

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

 

June 30, 2023 and 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

ANGHAMI INC.

Condensed interim consolidated statement of comprehensive income

 

          For the six-month period ended June 30  
          (Unaudited)     (Unaudited)  
    Note     2023     2022  
          USD     USD  
                   
Revenue     4       18,903,711       21,038,725  
Cost of revenue             (15,854,798 )     (18,097,740 )
Gross profit             3,048,913       2,940,985  
                         
Selling and marketing expenses             (4,673,130 )     (6,667,198 )
General and administrative expenses     6       (9,090,300 )     (10,739,304 )
Consultancy and professional fees             (530,275 )     (1,341,978 )
Government grants             1,431,490       2,123,055  
Operating loss             (9,813,302 )     (13,684,440 )
                         
Finance costs             (139,255 )     (479,148 )
Finance income             5,234       721  
Other income             840,100       2,811,288  
Share of loss of a joint venture             (126,844 )     (127,209 )
Fair value change of warrant liabilities     17       (208,383 )     3,597,835  
Recapitalization expense            
-
      (48,521,756 )
Foreign exchange loss, net             (2,409,540 )     (1,199,639 )
Loss before tax             (11,851,990 )     (57,602,348 )
                         
Income tax expense             (295,018 )     (207,428 )
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD             (12,147,008 )     (57,809,776 )
                         
Attributable to:                        
Equity holders of the Parent             (11,954,113 )     (57,690,759 )
Non-controlling interests             (192,895 )     (119,017 )
              (12,147,008 )     (57,809,776 )
                         
Basic and diluted loss per share attributable to equity holders of the Parent
    19       (0.46 )     (2.37 )

 

The attached notes 1 to 21 form part of these condensed interim consolidated financial statements.

 

1


 

ANGHAMI INC.

Condensed interim consolidated statement of financial position

          (Unaudited)     (Audited)  
    Note     June 30,
2023
    December 31,
2022
 
          USD     USD  
ASSETS                  
Non-current assets                  
Property and equipment     8       1,963,980       2,200,975  
Intangible assets     9       2,002,142       7,603,155  
Goodwill     14       600,000       600,000  
Investment in a joint venture             706,651       833,495  
Right-of-use assets             223,122       296,538  
Deferred tax assets             1,384       1,384  
              5,497,279       11,535,547  
Current assets                        
Trade and other receivables     10       8,938,425       10,321,833  
Government grants     7       2,441,735       2,055,978  
Contract assets             2,043,935       2,365,013  
Amount due from related parties     16       266,013       239,262  
Cash and bank balances     11       1,269,654       3,117,087  
              14,959,762       18,099,173  
TOTAL ASSETS             20,457,041       29,634,720  
                         
EQUITY AND LIABILITIES                        
Equity                        
Share capital     12       2,601       2,601  
Share premium     12       116,505,240       116,505,240  
Share-based payment reserves     13       1,363,995       1,512,490  
Accumulated losses             (135,089,448 )     (123,135,335 )
Deficit attributed to equity holders of the Parent             (17,217,612 )     (5,115,004 )
Non-controlling interests             (1,515,523 )     (1,322,628 )
Total Deficit             (18,733,135 )     (6,437,632 )
Non-current liabilities                        
Trade and other payables     15       400,000      
-
 
Provision for employees’ end-of-service benefits             907,112       700,953  
Lease liabilities             207,000       168,799  
Government grants     7       547,590       498,460  
              2,061,702       1,368,212  
Current liabilities                        
Trade and other payables     15       28,121,254       26,522,239  
Government grants     7       24,830       22,289  
Contract liabilities             4,342,126       4,536,370  
Amount due to related parties     16       3,801,696       2,436,308  
Warrant liabilities     17       771,105       562,722  
Income tax payable             5,224       432,211  
Bank overdrafts     11       5,231       3,756  
Lease liabilities             57,008       188,245  
              37,128,474       34,704,140  
Total liabilities             39,190,176       36,072,352  
TOTAL DEFICIT AND LIABILITIES             20,457,041       29,634,720  

 

The attached notes 1 to 21 form part of these condensed interim consolidated financial statements.

 

2


 

ANGHAMI INC.

Condensed interim consolidated statement of changes in equity

 

   

Share

capital

   

Share

premium

    Share-
based
payment
reserves
   

Other

reserves

    Accumulated
losses
    Deficit
attributable
to the
equity
holders of
the Parent
    Non-
controlling
interest
    Total
deficit
 
      USD       USD       USD       USD       USD       USD       USD       USD  
                                                                 
At January 1, 2022 (Audited)     1,721       32,109,245       3,162,544       (100,774 )     (62,015,211 )     (26,842,475 )     (1,120,946 )     (27,963,421 )
Share-based payments (note 13)    
-
     
-
      (559,266 )    
-
     
-
      (559,266 )    
-
      (559,266 )
Issuance of Shares upon reverse recapitalization, net of issuance costs     748       73,392,243      
-
     
-
     
-
      73,392,991      
-
      73,392,991  
Share based payment for service providers     29       2,899,971      
-
     
-
     
-
      2,900,000      
-
      2,900,000  
Loans converted to equity     79       7,738,105      
-
     
-
     
-
      7,738,184      
-
      7,738,184  
Issuance of common shares upon exercise of warrants     24       365,676      
-
     
-
     
-
      365,700      
-
      365,700  
Movement in other reserves    
-
     
-
     
-
      100,774       (100,774 )    
-
     
-
      -  
Total comprehensive loss    
-
     
-
     
-
     
-
      (57,690,759 )     (57,690,759 )     (119,017 )     (57,809,776 )
At June 30, 2022 (Unaudited)     2,601       116,505,240       2,603,278      
-
      (119,806,744 )     (695,625 )     (1,239,963 )     (1,935,588 )
At January 1, 2023 (Audited)     2,601       116,505,240       1,512,490      
-
      (123,135,335 )     (5,115,004 )     (1,322,628 )     (6,437,632 )
Share-based payments (note 13)    
-
     
-
      (148,495 )    
-
     
-
      (148,495 )    
-
      (148,495 )
Total comprehensive loss    
-
     
-
     
-
     
-
      (11,954,113 )     (11,954,113 )     (192,895 )     (12,147,008 )
At June 30, 2023 (Unaudited)     2,601       116,505,240       1,363,995      
-
      (135,089,448 )     (17,217,612 )     (1,515,523 )     (18,733,135 )

 

The attached notes 1 to 21 form part of these condensed interim consolidated financial statements.

 

3


 

ANGHAMI INC.

Condensed interim consolidated statement of cash flows

 

          For the six-month period ended June 30  
          (Unaudited)     (Unaudited)  
    Note     2023     2022  
        USD     USD  
OPERATING ACTIVITIES                  
Loss for the period             (12,147,008 )     (57,809,776 )
                         
Adjustments for:                        
Depreciation of property and equipment     8       241,107       67,720  
Depreciation of right-of-use assets             73,416       60,510  
Amortization of intangible assets     9       1,653,584       1,559,941  
Gain from the termination of contract     9       (196,396 )    
-
 
Finance costs             139,255       479,148  
Finance income             (5,234 )     (721 )
Provision for employees’ end of service benefits             267,281       518,313  
Revaluation of warrant liability     17       208,383       (3,597,835 )
Recapitalization expense            
-
      48,521,787  
(Reversal)/Provision for share-based payments     13       (148,495 )     1,655,529  
Reversal of accruals no longer required     13      
-
      (2,214,795 )
(Reversal)/Allowance for estimated credit loss             345,157       36,998  
Share of loss of a joint venture             126,844       127,210  
Taxes             295,018       207,428  
Government grants revenue     7       (1,431,490 )     (2,123,055 )
              (10,578,578 )     (12,511,598 )
Working capital changes:                        
Trade and other receivables             1,038,251       (6,057,010 )
Amount due from related parties             (26,751 )     895,627  
Contract assets             321,078       (1,471,748 )
Trade and other payables             7,249,015       18,437,108  
Contract liabilities             (194,244 )     1,344,628  
Amount due to related parties             1,365,388       (521,491 )
Cash flow from used in operations             (825,841 )     115,516  
Income tax paid             (722,005 )     (722,576 )
End of service benefits paid             (61,122 )     (43,540 )
Net cash flows used in operating activities             (1,608,968 )     (650,600 )
                         
INVESTING ACTIVITIES                        
Purchase of property and equipment             (4,112 )     (134,494 )
Additions of intangible assets     9       (1,106,175 )     (8,905,070 )
Investment in a joint venture            
-
      (1,068,408 )
Payment for acquisition of subsidiary            
-
      (350,000 )
Net cash flows used in investing activities             (1,110,287 )     (10,457,972 )
                         
FINANCING ACTIVITIES                        
Payments of lease liabilities             (114,083 )     (94,777 )
Repayment of loans and borrowings            
-
      (11,200,123 )
Receipt of government grants     7       1,097,404       1,021,975  
Proceeds from reverse recapitalization            
-
      2,480,107  
Proceeds from PIPE Financing            
-
      30,427,800  
Reverse recapitalization transaction costs            
-
      (9,470,709 )
Finance costs paid             (118,208 )     (38,338 )
Finance income received             5,234       721  
Net cash flows from financing activities             870,347       13,126,656  
(DECREASE)/ INCREASE IN CASH AND CASH EQUIVALENTS             (1,848,908 )     2,018,084  
Cash and cash equivalents at January 1             3,113,331       632,540  
CASH AND CASH EQUIVALENTS AT PERIOD END     11       1,264,423       2,650,624  
Supplementary cash flow information on non-cash investing and financing activities                        
Transaction cost settle net of proceeds            
-
      10,132,200  
Termination of outstanding payable in relation to written-off intangible assets             5,250,000      
-
 

 

The attached notes 1 to 21 form part of these condensed interim consolidated financial statements.

 

4


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

1 CORPORATE INFORMATION

 

Anghami Inc. (the “Group” or the “Parent”), was incorporated as a Cayman Islands exempted Group on March 1, 2021 with its registered office at Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The mailing address of our principal executive office is 16th Floor, Al-Khatem Tower, WeWork Hub71, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.

 

The principal activity of the group is digital entertainment and online streaming including music, podcasts, music videos, and live events. The Group has a freemium business model whereby premium (paying) users get unlimited access to online streaming content, ads free streaming experience, and unlimited downloads. The ad-supported users do not pay subscription fees and are provided with limited access to on-demand online streaming content without the ability to download content. The Group secures its content via licenses with labels and independent artists to provide its service.

 

2 GOING CONCERN

 

For the period ended June 30, 2023 and 2022 the Group incurred a loss of USD 12,147,008 and USD 57,809,776 respectively; and as at June 30, 2023 and December 31, 2022 the Group has accumulated losses of USD 135,089,448, USD 123,135,335 respectively; and negative working capital (i.e. excess of current liabilities over current assets) of USD 22,568,712 and USD 16,604,967 respectively. In addition to the cash flows to be generated from the Group’s operations, the continuation of the Group’s operations is dependent primarily on the ability to raise funding, and accessibility and availability thereof. The Group’s management acknowledge that there is a risk that the quantum and timing of cash flows may not be achievable in line with the twelve months forecasts from the date of approval of the Group’s condensed interim consolidated financial statements. A review of the strategic plan and budget, including expected developments in liquidity and capital were considered.

 

Based on management’s forecasts, the day-to-day operations and expenditure requirements are anticipated to be funded primarily by both cash generated through the ongoing operations and ability to access additional funding.

 

The condensed interim consolidated financial statements have been prepared assuming that the Group will continue as a going concern which is contingent upon the Group’s ability to access additional funding. Accordingly, the condensed interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, the amounts and classification of liabilities, or any other adjustments that might result in the event the Group is unable to continue as a going concern.

 

3 BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES

 

3.1 Basis of preparation

 

These condensed interim consolidated financial statements are for the six-month periods ended June 30, 2023 and 2022 and are presented in United States Dollars (“USD”), which is the functional currency of the Group. They have been prepared in accordance with IAS 34‘Interim Financial Reporting’.

 

These condensed interim consolidated financial statements do not include all of the information required in annual consolidated financial statements in accordance with International Financial Reporting Standards (“IFRS”) and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2022. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group’s financial position and performance since the last annual financial statements.

 

5


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

3 BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

 

3.2 Basis of consolidation

 

Subsidiaries are consolidated from the date of their acquisition, being the date on which the Group obtains control, and continue to be consolidated until the date that control ceases. The financial statements of subsidiaries are prepared for the same reporting period as the parent Group, using consistent accounting policies. Intra-group balances and transactions, including unrealized profits arising from intra-group transactions, have been eliminated. Unrealized losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Non-controlling interests represent the equity in subsidiaries that is not attributable, directly or indirectly, to the Parent shareholders.

 

Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and only if the Group has:

 

Ø Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee),

 

Ø Exposure, or rights, to variable returns from its involvement with the investee, and

 

Ø The ability to use its power over the investee to affect its returns.

 

Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

 

Ø The contractual arrangement with the other vote holders of the investee

 

Ø Rights arising from other contractual arrangements

 

Ø The Group’s voting rights and potential voting rights

 

The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the condensed interim consolidated statement of comprehensive income from the date the Group gains control until the date the Group ceases to control the subsidiary.

 

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

 

If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interests and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.

 

Details of subsidiaries as at June 30, 2023 and December 31, 2022 were as follows:

 

Subsidiaries   % of legal
ownership
June 30,
2023
  % of legal
ownership
December 31,
2022
   

Country of

Incorporation

  Principal
business
activities
Anghami Cayman   100 %   100 %   Cayman   Music streaming
Anghami Technologies Ltd   100 %   100 %   UAE   Music streaming
Spotlight Recreational Services LLC   100 %   100 %   UAE   Live events
Anghami FZ LLC   100 %   100 %   UAE   Music streaming
Digimusic SAL Offshore   94 %   94 %   Lebanon   Music streaming
Anghami KSA   100 %   100 %   Saudi Arabia   Music streaming
Anghami for Digital Content   100 %   100 %   Egypt   Music streaming

 

The carrying amount of the Group’s investment in the subsidiary and the equity of the subsidiary is eliminated on consolidation.

 

6


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

3 BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

 

3.2 New and amended standards and interpretations

 

A number of amended standards became applicable for the current reporting period. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amended standards.

 

3.3 Accounting policies

 

The accounting policies used for the condensed interim consolidated financial statements for the six-month period ended June 30, 2023 are consistent with those used in the annual consolidated financial statements for the year ended December 31, 2022.

 

3.4 Critical accounting judgements, estimates and assumptions

 

When preparing the condensed interim consolidated financial statements, management undertakes a number of judgements, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgements, estimates and assumptions made by management, and will seldom equal the estimated results. The judgements, estimates and assumptions applied in the condensed interim consolidated financial statements for the six-month period ended June 30, 2023 and 2022, including the key sources of estimation uncertainty, were the same as those applied in the Group’s annual consolidated financial statements for the year ended December 31, 2022.

 

4 REVENUE

 

    For the six-month period
ended June 30
 
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
             
Revenue from subscriptions     11,392,072       12,395,929  
Revenue from advertisement (1)     5,270,804       7,367,405  
Revenue from live events     2,240,835       1,275,391  
      18,903,711       21,038,725  
                 
Goods and services transferred at a point in time     7,511,639       8,642,796  
Goods and services transferred over time     11,392,072       12,395,929  
      18,903,711       21,038,725  

 

(1) Revenue from advertisement include barter transactions amounting to USD 111,996 (2022: USD 3,678,569)

 

7


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

5 SEGMENT INFORMATION

 

The Group has three reportable segments: Revenue from subscriptions, Revenue from advertisement, and Revenue from live events. Segments were identified based on the Group’s internal reporting and how the chief operating decision maker (“CODM”) assesses the performance of the business. The Premium service is a paid service in which customers can listen on demand and offline. Revenue for the Premium segment is generated through subscription fees. The Ad-Supported service is free to the user. Revenue for the Ad-Supported segment is primarily generated through the sale of advertising across the Group's content. Revenues from live events are generated from the sale of tickets, food and beverage & sponsorships. Royalty costs are primarily recorded in each segment based on specific rates for each segment agreed with the rights holders. The remaining cost of revenue items that are not specifically associated to either of the segments are allocated based on user activity in each segment. No operating segments have been aggregated to form the reportable segments.

 

Key financial performance measures of the segments including revenue, cost of revenue, and gross profit are as follows:

 

    For the six-month period
ended June 30
 
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
Revenue from subscription segment            
Revenue     11,392,072       12,395,929  
Cost of revenue     (11,489,456 )     (11,110,051 )
Gross profit     (97,384 )     1,285,878  
                 
Revenue from advertisement segment                
Revenue     5,270,804       7,367,405  
Cost of revenue     (1,974,887 )     (5,709,685 )
Gross profit     3,295,917       1,657,720  
                 
Revenue from live events segment                
Revenue     2,240,835       1,275,391  
Cost of revenue     (2,390,455 )     (1,278,004 )
Gross profit     (149,620 )     (2,613 )
                 
Consolidated                
Revenue     18,903,711       21,038,725  
Cost of revenue     (15,854,798 )     (18,097,740 )
Gross profit     3,048,913       2,940,985  

 

8


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

5 SEGMENT INFORMATION (continued)

 

Reconciliation of gross profits

 

Selling and marketing, operating expenses, finance income, and finance costs are not allocated to individual segments as these are managed on an overall group basis. The reconciliation between reportable segment gross profit to the Group’s loss before tax is as follows:

 

    For the six-month period
ended June 30
 
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
             
Segment gross profit     3,048,913       2,940,985  
Selling and marketing expenses     (4,673,130 )     (6,667,198 )
General and administrative expenses (note 6)     (9,090,300 )     (10,739,304 )
Consultancy and professional fees     (530,275 )     (1,341,978 )
Government grants     1,431,490       2,123,055  
Finance costs     (139,255 )     (479,148 )
Finance income     5,234       721  
Other income     840,100       2,811,288  
Share of loss of a joint venture     (126,844 )     (127,209 )
Fair value change of warrant liabilities (note 17)     (208,383 )     3,597,835  
Recapitalization expense     -       (48,521,756 )
Foreign exchange loss, net     (2,409,540 )     (1,199,639 )
Loss before tax     (11,851,990 )     (57,602,348 )

 

Revenue by market

 

    For the six-month period
ended June 30
 
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
             
Egypt     6,976,960       5,984,090  
UAE     4,286,444       5,320,004  
KSA     2,930,379       4,253,911  
Lebanon     1,588,373       1,939,228  
Jordan     551,497       599,384  
Morocco     537,996       436,280  
Others*     2,032,062       2,505,828  
      18,903,711       21,038,725  

 

Premium revenue is attributed to a country based on where the membership originates. Ad-Supported revenue is attributed to a country based on where the advertising campaign is viewed. Live events revenue is attributed to a country based on where the events occurred.

 

* There is no individual geographical market other than those disclosed above which would constitute more than 5% of the total revenue.

 

9


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

6 GENERAL AND ADMINISTRATIVE EXPENSES

 

    For the six-month period ended June 30  
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
             
Salaries and other related benefits     5,480,856       7,126,933  
Settlement fees*     2,000,000      
-
 
Insurance expense     518,296       273,916  
Provision for employees’ end of service benefit     267,281       518,313  
Depreciation of property and equipment (note 8)     241,107       67,720  
Rent and related charges     224,424       258,833  
Travel expenses     87,745       279,890  
Utilities     35,906       216,575  
Depreciation of rights-of-use assets     73,416       60,510  
License fees     35,026       35,593  
Taxes     15,952      
-
 
Write-off receivables     4,644       15,148  
Amortization of intangible assets (note 9)     2,449       1,495  
Provision for expected credit losses    
-
      36,998  
Employees’ share-based compensation (note 13)    
-
      1,655,529  
Other expenses     103,198       191,851  
      9,090,300       10,739,304  

 

* The amount relates to settlement agreement with content owner, related to differing opinions of both parties in reference to distribution of content for certain customers. Both parties agreed on settling the related amount on installments, the last installment is due on September 30, 2024.

 

The total settlement amount to USD 2,000,000 presented in trade and other payables in the statements of condensed interim consolidated financial position as:

 

    (Unaudited)  
    June 30,
2023
 
    USD  
       
Current     1,600,000  
Non-current     400,000  
      2,000,000  

 

7 GOVERNMENT GRANTS

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
             
At 1 January     1,535,229       209,843  
Received during the year     (1,097,404 )     (2,993,340 )
Amount recognized in the statement of profit or loss     1,431,490       4,318,726  
      1,869,315       1,535,229  

 

10


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

7 GOVERNMENT GRANTS (continued)

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
             
Current assets     2,441,735       2,055,978  
Non-current liabilities     (547,590 )     (498,460 )
Current liabilities     (24,830 )     (22,289 )
      1,869,315       1,535,229  

 

As of June 30, 2023 and December 31, 2022 the Group had a Accrued Government grants of USD 805,563 and USD 2,055,978 respectively. The accrued government grants are due from governmental entities not yet claimed. The government grants revenue recognized in the condensed interim consolidated statement of comprehensive income for the six-month period ended June 30, 2023 was USD 1,431,490 (USD 2,123,055 for the six-month period ended June 30, 2022).

 

8 PROPERTY AND EQUIPMENT

 

The property and equipment net book value consists of the following:

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
             
General installations     1,252,364       1,399,745  
Office and computer equipment     284,934       325,863  
Furniture & fixtures     426,682       475,367  
      1,963,980       2,200,975  

 

Total expense arising from depreciation on property and equipment recognised in the condensed interim consolidated statement of comprehensive income as part of general and administrative expense for the six-month period ended June 30, 2023 was USD 241,107 (USD 67,720 for the six-month period ended June 30, 2022).

 

11


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

9 INTANGIBLE ASSETS

 

The movement of intangible assets during the period is as follows:

 

    Application
development
    Originals
and Sessions
    Other
intangibles
    Work in
progress
    Total  
    USD     USD     USD     USD     USD  
2022                              
Cost:                              
At January 1, 2022     3,580,699       548,197       78,314       110,876       4,318,086  
Additions    
-
     
-
      8,849,867       15,900       8,865,767  
Additions – internally developed     112,378       51,927      
-
     
-
      164,305  
Write-off     (7,567 )    
-
     
-
     
-
      (7,567 )
     
-
      (80,072 )     86,350       (6,278 )    
-
 
At December 31, 2022     3,685,510       520,052       9,014,531       120,498       13,340,591  
                                         
Amortization:                                        
At January 1, 2022     1,914,902       324,883       35,455      
-
      2,275,240  
Charge for the year     725,577       106,503       2,637,683      
-
      3,469,763  
Transfers    
-
      2,432       (2,432 )    
-
     
-
 
Write-off     (7,567 )    
-
     
-
     
-
      (7,567 )
At December 31, 2022     2,632,912       433,818       2,670,706      
-
      5,737,436  
                                         
Net carrying amount:                                        
At December 31, 2022 (Audited)     1,052,598       86,234       6,343,825       120,498       7,603,155  
                                         
2023                                        
Cost:                                        
At January 1, 2023     3,685,510       520,052       9,014,531       120,498       13,340,591  
Additions    
-
     
-
      1,007,850       3,829       1,011,679  
Additions – internally developed     94,496      
-
     
-
     
-
      94,496  
Transfers    
-
      5,208      
-
      (5,208 )    
-
 
Contract termination*    
-
     
-
      (8,750,000 )    
-
      (8,750,000 )
At June 30, 2023     3,780,006       525,260       1,272,381       119,119       5,696,766  
                                         
Amortization:                                        
At January 1, 2023     2,632,912       433,818       2,670,706      
-
      5,737,436  
Charge for the period     373,740       35,064       1,244,780      
-
      1,653,584  
Contract termination *    
-
     
-
      (3,696,396 )    
-
      (3,696,396 )
At June 30, 2023     3,006,652       468,882       219,090      
-
      3,694,624  
                                         
Net carrying amount:                                        
At June 30, 2023 (Unaudited)     773,354       56,378       1,053,291       119,119       2,002,142  

 

Work in progress represents costs incurred in relation to internally produced originals and sessions which are not yet released as well as software being developed by a third party.

 

* The net book value amounting to USD 5,053,604 represent the terminated contract with Amr Diab, wherein the related outstanding payable of the Group to Amr Diab as of the date of amendment amounting to USD 5,250,000 is forfeited, the net transaction resulted in a gain of USD 196,396 recorded under other income. A new contract was signed with the artist dated May 18, 2023.

 

Based on the new contract, a total amount of USD 1,000,000 is recorded as an intangible asset and the contract period will end on June 1, 2024 Amortization charged is allocated as follows:

 

12


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

9 INTANGIBLE ASSETS (continued)

 

 

    For the six-month period
ended June 30
 
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
             
Selling and marketing expenses     944,343       964,872  
Cost of revenue     706,792       593,574  
General and administrative expenses (note 6)     2,449       1,495  
      1,653,584       1,559,941  

 

10 TRADE AND OTHER RECEIVABLES

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
             
Trade receivables     4,904,201       8,279,582  
Prepayments     138,251       113,036  
Advances paid for content and service providers     2,799,254       1,745,561  
Other receivables     1,697,751       1,117,162  
Other financial assets     5,266       17,947  
Allowance for estimated credit losses     (606,298 )     (951,455 )
      8,938,425       10,321,833  

 

Trade receivables are non-interest bearing and are generally on terms of 30 to 120 days.

 

An analysis of expected credit losses is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., by geographical region, product type, customer type and rating, and coverage by letters of credit or other forms of credit insurance). The calculation reflects the probability-weighted outcome and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions.

 

At June 30, 2023 and December 31, 2022, the ageing analysis of unimpaired trade receivables is as follows:

 

          Neither past     Past due but not impaired  
    Total     due nor impaired     30-60 days     60-90 days     90-120 days     >120 days  
    USD     USD     USD     USD     USD     USD  
June 30, 2023 (Unaudited)     4,297,903       2,375,736       1,257,379       483,904       180,884      
-
 
December 31, 2022 (Audited)     7,328,127       5,452,577       612,213       788,516       77,116       397,705  

 

13


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

11 CASH AND BANK BALANCES

 

Cash and cash equivalents reflected in the condensed interim consolidated statement of cash flows comprise the following statement of financial position amounts:

 

    (Unaudited)     (Audited)     (Unaudited)  
    June 30,
2023
    December 31,
2022
    June 30,
2022
 
    USD     USD     USD  
                   
Cash on hand     136,522       22,648       161,264  
Bank balances     1,133,132       3,094,439       2,493,687  
      1,269,654       3,117,087       2,654,951  
Less: bank overdrafts     (5,231 )     (3,756 )     (4,327 )
Cash and cash equivalents     1,264,423       3,113,331       2,650,624  

 

Bank overdrafts carry an interest rate between 7% - 10%.

 

12 ISSUED CAPITAL AND RESERVES

 

As of June 30, 2023 and December 31, 2022, the Group has authorised 2,150,000,000 ordinary shares and 5,000,000 preference shares.

 

As of June 30, 2023 and December 31, 2022, the Group has 26,005,654 outstanding ordinary shares amounting to USD 2,601 and has related share premium of USD 116,505,240.

 

13 SHARE-BASED PAYMENTS

 

At June 30, 2023, the employee share scheme reserve balance is USD 1,363,995 (at December 31, 2022:
USD 1,512,490).

 

The Group has implemented a long term incentive plan whereby the shares of Anghami have been converted into shares in Anghami Inc. the value of those share has dropped significantly due to the share price drop of Anghami Inc. resulting in a reversal of the provisions taken in previous years amounting to USD 148,495 recognized in the condensed interim consolidated statement of comprehensive income as part of other income for the six-month period ended June 30, 2023 (USD 2,214,795 reversal of accruals no longer required netted off by USD 1,655,529 employees’ share-based compensation expense for the six-month period ended June 30, 2022).

 

Share options outstanding are the follows:

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    Shares options     Shares options  
             
Opening balance as of January 1,     5,428       4,318  
Issued during the period/year (i)    
-
      1,110  
Ending shares option     5,428       5,428  

 

(i) Since the grant date is achieved only in the future on the “exit event” while the vesting period commences when awards are issued to employees, the disclosure considers “number of awards issued” in place of “number of awards granted”.

 

14


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

13 SHARE-BASED PAYMENTS (continued)

 

The options are fair valued using Monte Carlo simulation. The following assumptions are used in calculating the fair values of the options:

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
Expected weighted average volatility (%)     98 %     80 %

 

14 GOODWILL

 

On 3 June 2022, the Group acquired 100% of the shares of Spotlight Recreational Services LLC (“Spotlight”), a Company incorporated under the laws of the United Arab Emirates, pursuant to the signed sale and purchase agreement. Spotlight is engaged in operating live events. This acquisition has been accounted for in accordance with IFRS 3 Business Combinations.

 

Management believes there are no material provisional assets and liabilities to be recorded at the date of the acquisition, further Management is of the opinion that there is no identifiable intangible assets at the date of acquisition, hence all the purchase consideration were recorded as goodwill in these condensed interim consolidated financial statements. The purchase consideration were as follows:

 

USD 350,000 paid in cash at closing of acquisition which has been fully paid is at December 31, 2022

 

USD 250,000, to be paid in shares

 

At June 30, 2023, the share payment mentioned above was still due for issuance.

 

The acquired business contributed a loss of USD 64,929 and revenue of USD 1,734,679 for the six-month period ended June 30, 2023.

 

15 TRADE AND OTHER PAYABLES

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
             
Trade payables (content and service providers)     11,617,074       12,311,919  
Accrued content acquisition and royalty costs     12,443,447       10,388,153  
Social security and taxes payable     730,508       259,345  
Withholding taxes payable     395,568       437,300  
Other accrued expenses     1,494,872       1,767,875  
Deferred purchase price (note 14)     250,000       250,000  
Other payables     1,589,785       1,107,647  
      28,521,254       26,522,239  

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
             
Current     28,121,254       26,522,239  
Non-current     400,000      
-
 
      28,521,254       26,522,239  

 

15


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

16 AMOUNT DUE FROM/TO RELATED PARTIES

 

Related parties represent associated companies, shareholders, directors and key management personnel of the Group, and entities controlled, jointly controlled or significantly influenced by such parties. Pricing policies and terms of these transactions are approved by the Group’s management.

 

16.1 Related party balances

 

Due from related parties:

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
(a) Affiliated companies:            
Du – UAE     79,482       32,234  
Mobily – KSA     186,531       207,028  
      266,013       239,262  

 

Due to shareholders and related parties:

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
(a) Due to shareholders            
Edgard Maroun     587,274       232,429  
Elias Habib     362,431       162,354  
Maher Khawkhaji     1,991       100,236  
      951,696       495,019  
(b) Due to a related party                
MBC FZ LLC     2,850,000       1,941,289  
      3,801,696       2,436,308  

 

The above balances are interest free and have no fixed repayment terms.

 

16.2 Related party transactions

 

Significant transactions with related parties included in the condensed interim consolidated statement of comprehensive income are as follows:

 

    For the six-month period
ended June 30
 
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
             
Interest on convertible loans    
-
      (322,748 )
Interest on working capital loans    
-
      (88,757 )
Revenues from Du and Mobily     538,509       660,506  
Fees paid to Du and Mobily (cost of revenue)     (125,788 )     (165,153 )

 

Du and Mobily utilize their network to facilitate subscription payments for the Group’s users.

 

16


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

16 AMOUNT DUE FROM/TO RELATED PARTIES (continued)

 

16.3 Compensation of key management personnel of the Group

 

    For the six-month period
ended June 30
 
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
             
Short term employee benefits     694,969       1,019,280  
Post-employment pension and medical benefits     29,287       17,268  
Termination benefits     6,513      
-
 
Share-based payment transactions    
-
      105,069  
Total compensation of key management personnel of the Group     730,769       1,141,617  

 

17 WARRANT LIABILITIES

 

The warrants are initially recognised at fair value, and in subsequent periods measured at fair value through profit or loss with any changes in fair value recognised in profit or loss until the warrants are exercised, redeemed, or expire. The public warrants are listed on NASDAQ under the symbol “ANGHW”.

 

As of June 30, 2023, and December 31, 2022, the Group has outstanding 10,000,000 public warrants, 720,000 private placement warrants and 152,800 service warrants. The carrying value the warrants as of June 30, 2023 is USD 771,105 (December 31, 2022: USD 562,722).

 

The fair value change of the warrant liabilities recognized in the condensed interim consolidated statement of comprehensive income has an increase of USD 208,383 for the six-month period ended June 30, 2023 (decrease of USD 3,597,835 for the six-month period ended June 30, 2022).

 

The warrants are fair valued using Black-Scholes model. The following assumptions are used in calculating the fair values of the warrants:

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
             
Volatility     104 %     75 %
Risk-free rate     3.794 %     3.794 %

 

18 CONTINGENCIES AND COMMITEMENTS

 

18.1 Contingencies

 

There exist a few pending legal actions, proceedings, and claims or may be instituted or asserted against the Group. These may include but are not limited to matters arising out of alleged infringement of intellectual property; alleged violations of consumer regulations; employment-related matters; and disputes arising out of supplier and other contractual relationships. As a general matter, the music and other content made available on the Group’s service are licensed to the Group by various third parties. Many of these licenses allow rights holders to audit the Group’s royalty payments, and any such audit could result in disputes over whether the Group has paid the proper royalties. If such a dispute were to occur, the Group could be required to pay additional royalties, and the amounts involved could be material. The Group expenses legal fees as incurred. The Group records a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. An unfavorable outcome to any legal matter, if material, could have an adverse effect on the Group’s operations or its financial position, liquidity, or results of operations.

 

17


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

18 CONTINGENCIES AND COMMITEMENTS (continued)

 

18.1 Contingencies (continued)

 

Pop Arabia commenced a lawsuit against Anghami in December 2022 which is still ongoing as of June 30, 2023 with an accusation of “unlicensed exploitation of musical and lyrical works”. The estimated amount is immaterial should the action be successful as they are only claiming the rights for 12 songs.

 

Based on management assessment, currently there are no material cases, claims or proceedings of such quantum which require provision or disclosure as contingent liabilities.

 

18.2 Commitments

 

The Group is subject to the following minimum guarantee amounts relating to investments in joint ventures and the content on its service and publishing rights, the majority of which relate to initial investments and minimum royalty payments associated with its license agreements for the use of licensed content and publishing royalties, as at December 31:

 

    (Unaudited)     (Audited)  
    June 30,
2023
    December 31,
2022
 
    USD     USD  
             
Less than one year     3,495,070       4,194,264  
Later than one year but not more than 5 years    
-
      1,250,000  

 

In addition to the minimum guarantees listed above, the Group is subject to various service agreements including a service agreement with Amazon for the use of Amazon servers and cloud as at June 30, 2023.

 

19 LOSS PER SHARE

 

The following table reflects the loss and share data used in the basic and diluted loss per share calculations:

 

    For the six-month period ended June 30  
    (Unaudited)     (Unaudited)  
    2023     2022  
    USD     USD  
Basic loss per share            
Net loss attributable to the equity holders of the Parent     (11,954,113 )     (57,690,759 )
Shares used in computation:                
Weighted-average shares outstanding     26,005,564       24,379,671  
                 
Basic net loss per share attributable to equity holders of the Parent     (0.46 )     (2.37 )
                 
Diluted loss per share                
Net loss attributable to the equity holders of the Parent     (11,954,113 )     (57,690,759 )
Shares used in computation:                
Weighted-average shares outstanding     26,005,564       24,379,671  
                 
Diluted net loss per share attributable to equity holders of the Parent     (0.46 )     (2.37 )

 

There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of authorization of these condensed interim consolidated financial statements.

 

As the Group was loss-making in all periods presented in these condensed interim consolidated financial statements, potentially dilutive instruments all have an anti-dilutive impact and therefore have been excluded in the calculation of diluted weighted average number of ordinary shares outstanding. These instruments include certain outstanding warrants and share options and could potentially dilute earnings per share in the future.

 

18


 

ANGHAMI INC.

Notes to the condensed interim consolidated financial statements

 

20 FAIR VALUES OF FINANCIAL INSTRUMENTS

 

Financial instruments comprise financial assets and financial liabilities.

 

Financial assets consist of cash and cash equivalents, trade receivables, contract assets and amount due from related party. Financial liabilities consist of trade payables, lease liability, overdrafts, convertibles notes, working capital loans and amount due to related party.

 

The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

 

  Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.
     
  Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.
     
  Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.

 

The Private Warrants were valued using Black Scholes Model and the Shared-Based Payments were valued using Montecarlo Simulation, which are both considered to be a Level 3 fair value measurement. The primary unobservable inputs utilized in determining the fair value of the derivatives warrant liabilities and Shared-Based Payments are the expected volatility of our ordinary shares and risk-free rate.

 

21 SUBSEQUENT EVENTS

 

On August 21, 2023, Anghami Inc. sold and issued to SRMG ventures (“SRMG”), the corporate venture capital arm of Saudi Research and & Media group, (“SRMG”) a senior unsecured convertible note in the principal amount of USD 5,000,000, which was convertible into Anghami Inc.’s ordinary shares, par value USD 0.0001 per share, at an original conversion price of USD 2.50 per share, subject to certain conditions and limitations set forth in the Convertible Note, between the Company and SRMG. Anghami Inc. will use the net proceeds from the Convertible Note for working capital, growth and other general corporate purposes. The Convertible Note contains customary events of default, bore interest daily at a simple rate of 11.0% per annum, was due and payable in full three years following the date on which the Convertible Note was deemed issued. The Note Purchase Agreement also provides SRMG with the right to purchase up to an additional USD 5,000,000 additional principal amount of the Convertible Note within 12 months of the closing. On November 29, 2023, SRMG converted the entire outstanding principle amount of the convertible note and all accrued and unpaid interest into 2,055,000 ordinary shares of Anghami Inc.

 

On October 10, 2023, Anghami Inc. issued in a private placement 950,000 ordinary shares to MBC FZ LLC (“MBC”) for payment of USD 2,850,000 of marketing and branding services provided by MBC to the Company from 2021 to 2023.

 

On November 21, 2023, Anghami Inc. entered into a transaction with OrionPlus2 (“OSN”), an affiliate of Panther Media Group Limited, pursuant to which among other things , 1) OSN agreed to subscribe for up to USD 50,000,000 of ordinary shares of the Group in a private placement, and 2) Anghami Inc. agreed to acquire from OSN the OSN+ platform. The transaction is anticipated to close in the first quarter of 2024, subject to certain closing conditions including certain regulatory approvals. After closing, OSN will own a majority of the Anghami Inc’s outstanding ordinary shares.

 

 

19

 

0.46 2.37 false --12-31 Q2 2023-06-30 0001871983 0001871983 2023-01-01 2023-06-30 0001871983 2022-01-01 2022-06-30 0001871983 2023-06-30 0001871983 2022-12-31 0001871983 ifrs-full:IssuedCapitalMember 2021-12-31 0001871983 ifrs-full:SharePremiumMember 2021-12-31 0001871983 ifrs-full:ReserveOfSharebasedPaymentsMember 2021-12-31 0001871983 ifrs-full:OtherReservesMember 2021-12-31 0001871983 ifrs-full:RetainedEarningsMember 2021-12-31 0001871983 angh:DeficiencyOfAssetsAttributableToTheEquityHoldersOfTheParentUSDMember 2021-12-31 0001871983 ifrs-full:NoncontrollingInterestsMember 2021-12-31 0001871983 2021-12-31 0001871983 ifrs-full:IssuedCapitalMember 2022-01-01 2022-06-30 0001871983 ifrs-full:SharePremiumMember 2022-01-01 2022-06-30 0001871983 ifrs-full:ReserveOfSharebasedPaymentsMember 2022-01-01 2022-06-30 0001871983 ifrs-full:OtherReservesMember 2022-01-01 2022-06-30 0001871983 ifrs-full:RetainedEarningsMember 2022-01-01 2022-06-30 0001871983 angh:DeficiencyOfAssetsAttributableToTheEquityHoldersOfTheParentUSDMember 2022-01-01 2022-06-30 0001871983 ifrs-full:NoncontrollingInterestsMember 2022-01-01 2022-06-30 0001871983 ifrs-full:IssuedCapitalMember 2022-06-30 0001871983 ifrs-full:SharePremiumMember 2022-06-30 0001871983 ifrs-full:ReserveOfSharebasedPaymentsMember 2022-06-30 0001871983 ifrs-full:OtherReservesMember 2022-06-30 0001871983 ifrs-full:RetainedEarningsMember 2022-06-30 0001871983 angh:DeficiencyOfAssetsAttributableToTheEquityHoldersOfTheParentUSDMember 2022-06-30 0001871983 ifrs-full:NoncontrollingInterestsMember 2022-06-30 0001871983 2022-06-30 0001871983 ifrs-full:IssuedCapitalMember 2022-12-31 0001871983 ifrs-full:SharePremiumMember 2022-12-31 0001871983 ifrs-full:ReserveOfSharebasedPaymentsMember 2022-12-31 0001871983 ifrs-full:OtherReservesMember 2022-12-31 0001871983 ifrs-full:RetainedEarningsMember 2022-12-31 0001871983 angh:DeficiencyOfAssetsAttributableToTheEquityHoldersOfTheParentUSDMember 2022-12-31 0001871983 ifrs-full:NoncontrollingInterestsMember 2022-12-31 0001871983 ifrs-full:IssuedCapitalMember 2023-01-01 2023-06-30 0001871983 ifrs-full:SharePremiumMember 2023-01-01 2023-06-30 0001871983 ifrs-full:ReserveOfSharebasedPaymentsMember 2023-01-01 2023-06-30 0001871983 ifrs-full:OtherReservesMember 2023-01-01 2023-06-30 0001871983 ifrs-full:RetainedEarningsMember 2023-01-01 2023-06-30 0001871983 angh:DeficiencyOfAssetsAttributableToTheEquityHoldersOfTheParentUSDMember 2023-01-01 2023-06-30 0001871983 ifrs-full:NoncontrollingInterestsMember 2023-01-01 2023-06-30 0001871983 ifrs-full:IssuedCapitalMember 2023-06-30 0001871983 ifrs-full:SharePremiumMember 2023-06-30 0001871983 ifrs-full:ReserveOfSharebasedPaymentsMember 2023-06-30 0001871983 ifrs-full:OtherReservesMember 2023-06-30 0001871983 ifrs-full:RetainedEarningsMember 2023-06-30 0001871983 angh:DeficiencyOfAssetsAttributableToTheEquityHoldersOfTheParentUSDMember 2023-06-30 0001871983 ifrs-full:NoncontrollingInterestsMember 2023-06-30 0001871983 2022-01-01 2022-12-31 0001871983 angh:AnghamiCaymanMember 2023-01-01 2023-06-30 0001871983 angh:AnghamiCaymanMember 2022-07-01 2022-12-31 0001871983 angh:AnghamiTechnologiesLtdMember 2023-01-01 2023-06-30 0001871983 angh:AnghamiTechnologiesLtdMember 2022-07-01 2022-12-31 0001871983 angh:SpotlightRecreationalServicesLLCMember 2023-01-01 2023-06-30 0001871983 angh:SpotlightRecreationalServicesLLCMember 2022-07-01 2022-12-31 0001871983 angh:AnghamiFZLLCMember 2023-01-01 2023-06-30 0001871983 angh:AnghamiFZLLCMember 2022-07-01 2022-12-31 0001871983 angh:DigimusicSALOffshoreMember 2023-01-01 2023-06-30 0001871983 angh:DigimusicSALOffshoreMember 2022-07-01 2022-12-31 0001871983 angh:AnghamiKSAMember 2023-01-01 2023-06-30 0001871983 angh:AnghamiKSAMember 2022-07-01 2022-12-31 0001871983 angh:AnghamiForDigitalContentMember 2023-01-01 2023-06-30 0001871983 angh:AnghamiForDigitalContentMember 2022-07-01 2022-12-31 0001871983 angh:RevenueFromSubscriptionsMember 2023-01-01 2023-06-30 0001871983 angh:RevenueFromSubscriptionsMember 2022-01-01 2022-06-30 0001871983 angh:RevenueFromAdvertisementMember 2023-01-01 2023-06-30 0001871983 angh:RevenueFromAdvertisementMember 2022-01-01 2022-06-30 0001871983 angh:RevenueFromLiveEventsMember 2023-01-01 2023-06-30 0001871983 angh:RevenueFromLiveEventsMember 2022-01-01 2022-06-30 0001871983 ifrs-full:GoodsOrServicesTransferredAtPointInTimeMember 2023-01-01 2023-06-30 0001871983 ifrs-full:GoodsOrServicesTransferredAtPointInTimeMember 2022-01-01 2022-06-30 0001871983 ifrs-full:GoodsOrServicesTransferredOverTimeMember 2023-01-01 2023-06-30 0001871983 ifrs-full:GoodsOrServicesTransferredOverTimeMember 2022-01-01 2022-06-30 0001871983 angh:RevenueFromSubscriptionSegmentMember 2023-01-01 2023-06-30 0001871983 angh:RevenueFromSubscriptionSegmentMember 2022-01-01 2022-06-30 0001871983 angh:RevenueFromAdvertisementSegmentMember 2023-01-01 2023-06-30 0001871983 angh:RevenueFromAdvertisementSegmentMember 2022-01-01 2022-06-30 0001871983 angh:RevenueFromLiveEventsSegmentMember 2023-01-01 2023-06-30 0001871983 angh:RevenueFromLiveEventsSegmentMember 2022-01-01 2022-06-30 0001871983 angh:ConsolidatedSegmentMember 2023-01-01 2023-06-30 0001871983 angh:ConsolidatedSegmentMember 2022-01-01 2022-06-30 0001871983 ifrs-full:ReportableSegmentsMember 2023-01-01 2023-06-30 0001871983 ifrs-full:ReportableSegmentsMember 2022-01-01 2022-06-30 0001871983 ifrs-full:ReportableSegmentsMember 2023-06-30 0001871983 ifrs-full:ReportableSegmentsMember 2022-06-30 0001871983 ifrs-full:EquityMember 2023-01-01 2023-06-30 0001871983 ifrs-full:EquityMember 2022-01-01 2022-06-30 0001871983 angh:UAEMember 2023-01-01 2023-06-30 0001871983 angh:UAEMember 2022-01-01 2022-06-30 0001871983 angh:KSAMember 2023-01-01 2023-06-30 0001871983 angh:KSAMember 2022-01-01 2022-06-30 0001871983 ifrs-full:AggregatedIndividuallyImmaterialBusinessCombinationsMember 2023-01-01 2023-06-30 0001871983 ifrs-full:AggregatedIndividuallyImmaterialBusinessCombinationsMember 2022-01-01 2022-06-30 0001871983 ifrs-full:JointVenturesMember 2023-01-01 2023-06-30 0001871983 ifrs-full:JointVenturesMember 2022-01-01 2022-06-30 0001871983 ifrs-full:MachineryMember 2023-01-01 2023-06-30 0001871983 ifrs-full:MachineryMember 2022-01-01 2022-06-30 0001871983 angh:OthersMember 2023-01-01 2023-06-30 0001871983 angh:OthersMember 2022-01-01 2022-06-30 0001871983 angh:GrantsMember 2022-12-31 0001871983 angh:GrantsMember 2022-06-30 0001871983 angh:GrantsMember 2023-01-01 2023-06-30 0001871983 angh:GrantsMember 2022-07-01 2022-12-31 0001871983 angh:GrantsMember 2023-06-30 0001871983 angh:ApplicationDevelopmentMember 2021-12-31 0001871983 angh:OriginalsAndSessionsMember 2021-12-31 0001871983 angh:OtherIntangiblesMember 2021-12-31 0001871983 angh:WorkInProgressMember 2021-12-31 0001871983 angh:ApplicationDevelopmentMember 2022-01-01 2022-12-31 0001871983 angh:OriginalsAndSessionsMember 2022-01-01 2022-12-31 0001871983 angh:OtherIntangiblesMember 2022-01-01 2022-12-31 0001871983 angh:WorkInProgressMember 2022-01-01 2022-12-31 0001871983 angh:ApplicationDevelopmentMember 2022-12-31 0001871983 angh:OriginalsAndSessionsMember 2022-12-31 0001871983 angh:OtherIntangiblesMember 2022-12-31 0001871983 angh:WorkInProgressMember 2022-12-31 0001871983 angh:ApplicationDevelopmentMember 2023-01-01 2023-06-30 0001871983 angh:OriginalsAndSessionsMember 2023-01-01 2023-06-30 0001871983 angh:OtherIntangiblesMember 2023-01-01 2023-06-30 0001871983 angh:WorkInProgressMember 2023-01-01 2023-06-30 0001871983 angh:ApplicationDevelopmentMember 2023-06-30 0001871983 angh:OriginalsAndSessionsMember 2023-06-30 0001871983 angh:OtherIntangiblesMember 2023-06-30 0001871983 angh:WorkInProgressMember 2023-06-30 0001871983 ifrs-full:OtherIntangibleAssetsMember 2022-07-01 2023-06-30 0001871983 ifrs-full:OtherIntangibleAssetsMember 2021-07-01 2022-06-30 0001871983 ifrs-full:BottomOfRangeMember 2023-01-01 2023-06-30 0001871983 ifrs-full:TopOfRangeMember 2023-01-01 2023-06-30 0001871983 angh:NeitherPast3060ImpairedMember 2023-06-30 0001871983 angh:PastDueButNotImpaired3060DaysMember 2023-06-30 0001871983 angh:PastDueButNotImpaired6090DaysMember 2023-06-30 0001871983 angh:PastDueButNotImpaired90120DaysMember 2023-06-30 0001871983 angh:PastDueButNotImpaired120DaysMember 2023-06-30 0001871983 angh:NeitherPast3060ImpairedMember 2022-12-31 0001871983 angh:PastDueButNotImpaired3060DaysMember 2022-12-31 0001871983 angh:PastDueButNotImpaired6090DaysMember 2022-12-31 0001871983 angh:PastDueButNotImpaired90120DaysMember 2022-12-31 0001871983 angh:PastDueButNotImpaired120DaysMember 2022-12-31 0001871983 ifrs-full:TopOfRangeMember 2023-06-30 0001871983 ifrs-full:BottomOfRangeMember 2023-06-30 0001871983 ifrs-full:OrdinarySharesMember 2023-06-30 0001871983 ifrs-full:OrdinarySharesMember 2022-12-31 0001871983 ifrs-full:PreferenceSharesMember 2023-06-30 0001871983 ifrs-full:PreferenceSharesMember 2022-12-31 0001871983 2022-12-30 0001871983 2022-06-03 0001871983 angh:DuUAEMember 2023-06-30 0001871983 angh:DuUAEMember 2022-12-31 0001871983 angh:MobilyKSAMember 2023-06-30 0001871983 angh:MobilyKSAMember 2022-12-31 0001871983 angh:EdgardMarounMember 2023-06-30 0001871983 angh:EdgardMarounMember 2022-12-31 0001871983 angh:EliasHabibMember 2023-06-30 0001871983 angh:EliasHabibMember 2022-12-31 0001871983 angh:MaherKhawkhajiMember 2023-06-30 0001871983 angh:MaherKhawkhajiMember 2022-12-31 0001871983 angh:MBCVentureLimitedMember 2023-06-30 0001871983 angh:MBCVentureLimitedMember 2022-12-31 0001871983 angh:PublicWarrantsMember 2023-06-30 0001871983 angh:PublicWarrantsMember 2022-12-31 0001871983 angh:PrivatePlacementsMember 2023-06-30 0001871983 angh:PrivatePlacementsMember 2022-12-31 0001871983 angh:BasicLossPerShareMember 2023-01-01 2023-06-30 0001871983 angh:BasicLossPerShareMember 2022-01-01 2022-06-30 0001871983 angh:DilutedLossPerShareMember 2023-01-01 2023-06-30 0001871983 angh:DilutedLossPerShareMember 2022-01-01 2022-06-30 0001871983 ifrs-full:MajorOrdinaryShareTransactionsMember 2023-08-21 0001871983 2023-08-01 2023-08-21 0001871983 ifrs-full:MajorOrdinaryShareTransactionsMember 2023-08-21 2023-08-21 0001871983 angh:PurchaseAgreementMember 2023-06-30 0001871983 ifrs-full:MajorOrdinaryShareTransactionsMember 2023-11-29 0001871983 ifrs-full:MajorOrdinaryShareTransactionsMember 2023-10-10 0001871983 ifrs-full:MajorOrdinaryShareTransactionsMember 2023-10-10 2023-10-10 0001871983 ifrs-full:MajorOrdinaryShareTransactionsMember 2023-11-21 iso4217:USD iso4217:USD xbrli:shares xbrli:pure xbrli:shares