INVESTMENT-

Fresh investments into Masria Digital Payments: Local e-payments firm Masria Digital Payments (MDP) is in talks with five local and international investment funds over a USD 80-100 mn investment, CEO Ahmed Nafie told Al Arabiya Business. Talks are expected to wrap up in 2H 2024.

Big things ahead: The capital increase comes as MDP looks to expand its operations in Africa and enter the European and Gulf markets.

REAL ESTATE-

Al Ahly Sabbour is looking to set up a real estate project in Oman and is currently in negotiations over a plot in the country’s Sultan Haitham City, chairman Ahmed Sabbour told Al Borsa. The developer wants to develop an integrated urban project — to house 2k residential units and commercial and administrative spaces — in partnership with an undisclosed Gulf partner, Sabbour added.

DEBT-

Banque Misr is lending Edita EGP 990 mn under an 8-year loan agreement, according to a statement(pdf) from the snackmaker. The loan will be used to finance Edita’s local expansion plans — a chunk of the loan has already been allocated to finance a new bakery line, expected to kick off operations in the second half of the year.

ICYMI: Edita announced that it secured the loan last week without disclosing the name of the lender.

Expansion plans: The snackmaker is planning to invest between EGP 900 mn to 1 bn this year to expand its operations, the company’s IR Menna Shams El Din told Al Borsa. The company wants to add two new production lines to its factories, which will increase its production capacity by more than 10% and help the company meet growing demand.

MANUFACTURING-

Alco Tech planning Saudi aluminum complex: Aluminum manufacturer Alco TechEngineering wants to develop a USD 5 mn industrial complex producing aluminum panels in Riyadh, company chairman told Al Borsa. The complex will be constructed in partnership with a Saudi contractor, with Alco Tech taking a 50% stake in the complex in exchange for providing half the required investment.

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