FINTECH-

EFG Hermes ONE to launch a digital onboarding process: EFG Hermes’ online trading platform EFG Hermes One has become the first in Egypt to get the thumbs up from the Financial Regulatory Authority to kickstart a new feature that will let investment portfolios of up to EGP 5 mn register for accounts digitally to trade on the EGX, according to a statement (pdf).

What they said: “This move aims to increase the involvement of retail investors in capital markets, catering to clients of all income levels. By offering state-of-the-art solutions, we enable both new and experienced investors to open accounts and participate in transactions easily,” said EFG Hermes Global Head of Brokerage Ahmed Waly.

INFRASTRUCTURE-

GREGY tenders are live: Greek renewables player Elica Group — the firm developing the Egypt-Greece electricity linkup dubbed GREGY — has launched two tenders for the energy linkup project, the group said in two press releases (here, here). The first tender is for companies interested in taking over the market, technical, and cost-benefit analysis of the project, while the second is for the desktop study for the project. Interested companies have until the end of May to submit their offers.

REAL ESTATE-

Qatari developer wants to build an urban complex in Sixth of October: Qatar-based property developer Ariane Real Estate is reportedly looking to enter Egypt for the first time and build an integrated urban complex with initial investments of EGP 70 bn in Sixth of October’s Dreamland, unnamed sources told Shorouk News. The complex will house 6k residential units, a sports club, and a hotel.

Where things currently stand: The developer has submitted an initial offer to buy the land from owners state-owned lenders National Bank of Egypt and Banque Misr for some EGP 15-20 bn.

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