CAPITAL MARKETS-

#1- Global Carbon Council to list carbon credits on EGX: The EGX will list carbon credits issued by international provider Global Carbon Council (GCC) on its planned carbon market under a MoU signed by the two sides, it said in a statement (pdf) yesterday.

Not that GCC: The GCC is a Qatar-based voluntary carbon offsetting program that works with groups in MENA region and beyond to reduce emissions. It issues carbon credits for a range of emission-reduction projects, and has been approved by international organizations including UN International Civil Aviation Organization and the International Carbon Reduction and Offset Alliance.

REFRESHER- The EGX is set to launch Africa’s first voluntary carbon market in mid-2023and is partnering with the Agricultural Bank of Egypt and Enara Group’s Libra Capital to establish Libra Carbon, an Egyptian company that will develop, manage, and issue carbon certificates.

#2- Azimut to launch app: Asset manager Azimutplans to roll out a mobile app for its investment funds after the Eid El Fitr holiday, financial advisory head Ahmed Morshedtold Al Mal. The app will allow Azimut customers to subscribe to its funds and monitor their performance.

The company wants to introduce up to four new funds this year: The firm is currently readying two investment funds for 2023 debuts and may launch another fund or two if it finds that there’s demand for them, Al Mal reports. Azimut has already launched three funds this year including AZ valU, which it created in partnership with our friends at EFG Hermes Holdings’ fintech platform valU.

EDUCATION-

USAID to fund five applied tech schools: The Education Ministry and USAID inked five MoUs to establish five international applied technology schools under the USAID-funded Workforce Egypt project, according to a statement. The schools include two in Sadat City and Qena that are specialized in the operation and maintenance of heavy industry equipment, two schools in Giza specialized in robotics and pharma and food industry equipment, and one in Qalyubia focused on facility management tech.

The private sector is involved: Five private-sector companies will be involved with the operations of each of the upcoming tech schools. They include Eva Pharma, fertilizer producers EverGrow and CFC Feed and Chemicals, local manufacturer Mobica, and real estate developer Mountain View.

HEALTHCARE-

The Tahya Misr Fund will provide EGP 1 bn to reduce waiting times in hospitals for critical cases, according to Ittihadiya.

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