INFRASTRUCTURE-

#1- A new Beni Suef dry port in the works: Samcrete Holding’s industrial arm, Industrial Development Group (IDG), has “initiated the process” to ink an MoU with Alexandria-based logistics company Star Shine Shipping & Logistics (SSSC) to develop and operate a new dry port in Kom Abu Radi in Beni Suef, IDG said in a statement (pdf) released yesterday. Star Shine will be the operating partner in the consortium, IDG said. Representatives of IDG would not confirm the value of its planned investment in the facility.

Up to USD 500 mn worth of investment? That’s the reporting from Al Borsa reports, citing sources it says have knowledge of the transaction. The initial phase of the dry port spans over an area of 33 feddans and will be situated near a logistics area, storage hangars, administrative areas, and a technical training school, Al Borsa says.

What’s next: The company is currently carrying out a feasibility study for the project, managing director of IDG Shady William told Enterprise.

DEBT-

State and private banks in the running to offer state-owned water company EGP 10 bn loan: The state-owned Holding Company for Water and Wastewater (HCWW) is set to obtain a EGP 10 bn credit facility after it finalizes an agreement from either a syndicate of state-run lenders or private lenders, Asharq Business reported citing banking sources it says are familiar with the matter. HCWW is set to choose between the two within a month.

In the running: According to the regional news source, the state-owned National Bank of Egypt, Banque Misr, and Banque du Caire formed a consortium for the loan, while private lenders QNB Alahli and the National Bank of Kuwait in Egypt also joined forces

FINTECH-

#1-Jumia boosts e-payment services through partnership with Aman: E-commerce platform Jumia Egypt has signed a strategic partnership agreement with Raya Holding’s fintech subsidiary Aman, allowing Jumia customers to pay for purchases through Aman installment plans with a 0% interest rate introductory offer, a statement (pdf) saidyesterday. JumiaPay will also become a secure payment gateway on the Aman SuperApp.

#2- Valu extends payment facilities to EBI students: Students at the Egyptian Banking Institute (EBI), the Central Bank of Egypt’s training arm, will be able to use Valu’s payment services to pay for their education and qualifications under a partnership agreement, according to a statement (pdf) from Valu. Valu will offer students of the EBI training programs “convenient financing and affordable installment plans,” the statement added.

MANUFACTURING-

#1- Seeking investment, paper manufacturer Rakta signs Al Ahly Pharos as advisor: The state-owned General Company for Paper Industry (Rakta) has inked an agreement with Al Ahly Pharos to attract a strategic investor to help overhaul the underperforming company, according to a statement(pdf) on the EGX yesterday.

ICYMI- Public Enterprises Minister Mahmoud Esmat dismissed the company’s board inDecember after a surprise visit to the Rakta factory. Esmat criticized the outdated production lines and poorly managed facilities that contributed to Retka’s recurring losses.

#2- Kima board confirms Tecnimont project fee: Shareholders of EGX-listed state controlled Egyptian Chemical Industries (Kima) approved a final price for an offer from Italian contractor Maire Tecnimont to take the reins on its nitric acid and ammonium nitrate project, Kima said in an EGX disclosure (pdf) yesterday. The project amounts to USD 297 mn, split between a USD payment of USD 234 mn and EGP payments of EGP 1.6 bn and the EGP equivalent of USD 11 mn. The board also approved the company’s financial results for fiscal year 2022-2023.

RETAIL-

Private-public partnerships for state-subsidized supermarkets up for grabs: The Supply Ministry’s Internal Trade Development Authority (ITDA) will begin offering partnerships in several phases to the private sector to run state-owned subsidized supermarkets — known as consumer complexes — owned by the Food Industries Holding Company later this week, reports Al Borsa, citing a source at the Supply Ministry. The first phase offering up partnerships in 26 units will kick off on Tuesday, with Carrefour, Mahmoud Elfar, LuLu Hypermarket and the Mansour Group all said to be interested. Details regarding the exact nature of the partnerships were not provided.

Tags: