MINING-

B2Gold’s gold exploration licenses are up for grabs: Canadian miner B2Gold islooking to give Canadian miner Lotus Gold gold exploration licenses for six blocks in Egypt, as it looks to focus its activity on a recently-acquired mine in South Africa instead, unnamed government officials told Asharq Business.

REAL ESTATE-

Heliopolis Housing to make multi EGP bn land purchase: EGX-listed real estatedeveloper Heliopolis Housing and Development (HHD) will purchase a land plot from the Holding Company for Spinning and Weaving under a cooperation agreement inked between the two, according to a bourse disclosure (pdf). HHD has already made a EGP 2 bn down payment on the plot and will soon make its choice between six offered land plots to use for a real estate project, Al Borsa reported.

DEBT-

Egyptian National Railways in search of financing for two new rail lines: EgyptianNational Railways (ENR) is seeking to secure an EGP 18 bn syndicated loan from local banks to help finance two new railway lines set to break ground in 2H 2024, unnamed government sources told Asharq Business. The French Development Agency (AFD) and the European Bank for Reconstruction and Development (EBRD) have already agreed on an EUR 250 mn loan for the Tanta-Mansoura-Damietta line, but the second Siwa-Matrouh-Gargoub is yet to receive backing from any international lenders.

DEVELOPMENT FINANCE-

House greenlights USD 614 mn package loan to help reform our banking and financial sectors: MPs yesterday approved a USD 614 million loan from the Arab Monetary Fund (AMF) that will be allocated to support structural reforms in the banking and financial sectors.

EMPLOYMENT-

Another big initiative in the pipeline for El Sisi’s third term: The Labor Ministry announced the launch of an initiative — dubbed Mehany 2030 — to train and qualify 1 mn young Egyptians for local and foreign vocational markets, according to a Labour Ministry readout. The initiative will target training at least 27k individuals in its first phase — 1k trainees from each governorate, and integrate at least 50 private training centers into the initiative.

TELECOM-

Telecom Egypt and ZOI to build new digital corridor: State-run Telecom Egypt haveteamed up with Zain Omantel International (ZOI) — a joint venture of Kuwait’s Zain and Oman’s Omantel — to build a digital corridor using both subsea and overland cables linking the Mediterranean Sea to the Arabian Sea and the Arabian Gulf, according to a joint statement (pdf).

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