Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
EXPORTS-
UAE’s Agthia wants to level up its export base here: ADQ-owned F&B firm Agthia plans to ramp up its exports from Egypt to other countries to AED 100 mn this year, up from AED 70 mn in 2023, the company’s CFO Sherif Elfaham told CNBC Arabia (watch, runtime, 6:36). Exports from Egypt hit AED 24 mn in the first quarter of the year, Elfaham said, adding that the local market “represents about 18-19% of the company’s business volumes.”
** Tap or click the headline above to read this story with all of the links to our background and outside sources.
The rationale: The firm — which also owns 70% in Abu Auf’s parent company and 75% of the parent company behind frozen meat brand Atyab — wants to leverage Egypt’s “low production costs, strategic location, and strong commercial relationships,” Elfaham said. Agthia is looking to make Egypt a regional export hub by setting up an export facility here to serve markets in the Gulf and North Africa.
AVIATION-
The US Transportation Security Administration (TSA) will help set up a regional center for security training in Egypt, the Civil Aviation Ministry said in a statement, after a TSA delegation met with ministry officials. The US side will provide the center with the latest equipment at no cost. The US side will also provide “all means of support and expertise” necessary for the redesign of Cairo International Airport, terminal 3.
TELECOMS-
#1- Vodacom and Orange want to support Africa’s mobile network: Africa’s largest mobile operator Vodacom is in talks to set up a strategic partnership with Orange France that would involve infrastructure agreements in Africa, building connectivity in rural areas, and cutting costs in the continent, reported Asharq Business, citing unnamed sources it said are familiar with the negotiations. The two telecoms players are eyeing agreements in Egypt as well as the Democratic Republic of Congo.
#2- Huawei launches region’s first ever public cloud in Egypt: China’s Huawei Cloud in cooperation with Telecom Egypt has launched a public cloud services platform in Egypt, the first in the country and North Africa, Telecom Egypt said in a statement on Tuesday.
DEBT-
Telecom Egypt has secured a USD 200 mn loan from Banque Misr UAE to refinance its existing short-term facilities, TE said in a statement. The two parties agreed that the loan will be repaid within five years from TE’s FX revenues. TE is currently undertaking a refinancing strategy to reduce borrowing costs, assure liquidity and increase its financial flexibility, the statement notes.
