INVESTMENT-

#1- The SFE just doubled its authorized capital: Prime Minister Mousafa Madbouly has issued a decision to double the Sovereign Fund of Egypt’s authorized capital to EGP 400 bn, according to a decision published in the Official Gazette on Tuesday.

EGP 400 bn today. EGP 1 tn in 2025? SFE chair Hala El Said sa id in November that the fund’s authorized capital will increase to EGP 1 tn within three years.

Remember: The SFE has almost USD 12 bn in assets, making it the forty-seventh largest sovereign fund in the world, according to the SWF Institute.

#2- MSME x Avanz Capital : Avanz Capital and the MSME Development Agency have signed an MoU aimed at increasing private investment and boosting innovation, according to a statement (pdf) out yesterday. Under the agreement, the two sides will exchange information and expertise related to investment funds and develop a training program for investors and fund managers.

HOSPITALITY –

Sodic x Robert De Niro: Our friends at Sodic have partnered with the global luxury brand Nobu Hospitality to launch two luxury hotels, a residential project and restaurant in two locations in Egypt, the real estate developer said in a press release ( pdf ) yesterday. One of the hotels and the residential area will be based in the company’s New Zayed project, while the second hotel will be located in the Ras El Hikma area on the North Coast. Information about the size of investment and time frame for the two projects wasn’t made public.

Nobu: A luxury hotel and restaurant company founded in the 1990s by celebrity chef Nobuyuki Matsuhisa and Robert De Niro.

COMMODITIES-

Romanian + French wheat incoming: GASC has purchased a total of 240k metric tons of wheat sourced evenly from French and Romanian suppliers in an international tender, Reuters reports, citing a statement from the state grains buyer. This is the second time in a week that GASC has bought Romanian wheat.

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