Novavera Sport will open its first football factory in the region, producing its first batch of FIFA-certified footballs before the start of the next season, according to the local press. The factory is set to open in early July in the 6 October industrial zone. It will have a production capacity of 1 mn balls in the first year, increasing to 5 mn within five years, according to Novavera’s GM. The project is being funded through a partnership between Al Assiouty Sport and Master Sports, comprising an investment of EGP 50 mn over three years.
More from Enterprise
Banks threaten to look beyond London as windfall tax talk grows
International lenders say more tax could tip the balance as…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Gulf stock exchanges are growing in importance, but they’re still a long way from becoming capital market hubs -Fitch
The diagnosis lands in a year when UAE and Saudi…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…