MCDR to set up EGP 100 mn Internet of Things JV with French company, Egyptian sovereign entity

Misr for Central Clearing, Depository, and Registry (MCDR) is planning to set up a EGP 100 mn Internet of Things company, MCDR Chairman Mohamed Abdel Salam said, according to the local press. MCDR will hold 20% of the company, with the remaining ownership split between an unnamed French company and a “sovereign entity.” No further details were provided.