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Loans and Borrowings (Tables)
 12 Months Ended
Dec. 31, 2021
Loans and Borrowings [Abstract]  
Schedule of loans and borrowings
   2021   2020 
   USD   USD 
         
Convertible notes   13,805,436    12,735,835 
Working capital loans   4,721,366    
-
 
   18,526,802    12,735,835 

 
Schedule of changes in the convertible notes
   2021   2020 
   USD   USD 
         
At January 1   12,735,835    5,655,372 
Additions – convertible notes   6,000,000    5,500,000 
Non-cash changes recognized in consolidated statement of comprehensive income          
  Changes in fair value (note 9)   453,331    1,291,551 
Interest (note 9)   1,836,468    188,138 
Loans converted during the year (note 18)   (7,220,198)   - 
Effect of day one fair value (other reserves) *   -    100,774 
At December 31   13,805,436    12,735,835 

 

*The amount represents day one fair value losses on loans from shareholders (MEVP and SAMENA) transferred to other reserves in equity.

 
Schedule of classification and maturity of the convertible notes
   2021   2020 
   USD   USD 
         
Fair value through profit or loss   
-
    6,766,866 
Amortized cost   13,805,436    5,968,969 
    13,805,436    12,735,835 
Current   13,805,436    7,629,743 
Non-current   
-
    5,106,092 
    13,805,436    12,735,835 

 
Schedule of significant effect on the recorded fair value
   December 31,
2021		   Level 1   Level 2   Level 3 
   USD   USD   USD   USD 
                 
Financial liabilities at fair value                
Convertible notes   
-
    
-
    
-
    
-
 

 

   December 31,
2020		   Level 1   Level 2   Level 3 
   USD   USD   USD   USD 
                 
Financial liabilities at fair value                
Convertible notes   6,766,866    
-
    
-
    6,766,866 

 
Schedule of assumptions used to estimate the fair value of the shares
   2021   2020 
   USD   USD 
         
Revenue multiple used to estimate enterprise value   5.6    5.8 
Market interest rate   13.9%   13.9%

 
Schedule of presents the changes in the working capital loans
   2021 
   USD 
     
At January 1   
-
 
Additions – working capital loans   4,499,994 
Interest (note 9)   221,372 
At December 31   4,721,366