AUTOMOTIVE-

Smart EVs to hit the market this year: German EV company Smart Automobile, a joint venture between Mercedes-Benz and Geely, has partnered with Ezz Elarab Group subsidiary Ezz Elarab Star to bring its electric vehicles to the local market in 3Q 2024, the EV firm said in a statement (pdf). As the company’s distribution partner for the country, Ezz Elarab Star plans to launch sales and aftersales stores at two locations in Greater Cairo.

M&A-

More acquisitions in BPE’s future: Private equity firm BPE Partners is studying several acquisitions in the healthcare and payments sectors, co-founder Aladdin Saba told Asharq Business. The firm is also looking to exit two of its portfolio companies, he added without identifying the companies.

Regional expansion on the horizon: The firm wants to step foot into a number of Arab markets over “the coming period,” he added.

INVESTMENT-

Could we see a new freezone for oil production in cooperation with the UAE? Prime Minister Mostafa Madbouly is in early-stage talks to sign a preliminary agreement with the UAE’s Fujairah emirate and Abu Dhabi-based petrochemicals firm Borouge to set up a freezone focused on the production, storage, and trade of oil and its derivatives, according to a cabinet statement.

FINTECH-

eKhales, Balad launch payment solution for expats: e-Finance’s digital payments arm eKhales has teamed up with local fintech startup Balad to introduce a new bill payment platform to serve Egyptian expats in more than 60 countries, according to a press release (pdf). The platform will allow expats to pay bills, tuition fees, or installments at home from outside the country.

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