TELECOMS-

ITIDA, Telecom Egypt, and Nokia to establish internet protocol center of excellence in Cairo: ITIDA, Telecom Egypt, and Nokia signed an MoU to create a center of excellence to develop expertise in automating IP networks and enhancing Egypt’s ICT export capabilities, according to a cabinet statement. The center will initially export digital services to over 60 countries in the MEA region, focusing on advancing AI, software development, and network technologies.

PRIVATIZATION-

Offers roll in for former gov’t HQs: Some seven local and international investors have submitted offers for eight former ministerial headquarters in Downtown Cairo, Planning Minister Hala El Said told Asharq Business. The Sovereign Fund of Egypt will start offering the HQs after wrapping up their valuation studies before the end of the year and will then start looking into the offers received, she added.

Remember: The government transferred its ownership of a set of ministerial headquarters to the SFE earlier this year in its efforts to sell off or repurpose the properties.

SUSTAINABILITY-

Emirates NBD Egypt unveils its first annual sustainability report: Emirates NBD Egypt has released its first sustainability report (pdf) outlining the environmental, social, and corporate governance standards implemented by the bank between 2021-2023, it said in a press release (pdf). “The integration of sustainability into [Emirates NBD Egypt’s] strategic vision has not only enhanced our resilience but also set us on a path toward innovative and responsible banking,” CEO Amr El Shafei said.

The highlights: Emirates NBD Egypt has reduced electricity consumption by 40% and decreased paper usage by 20% via a comprehensive waste management and recycling program and the adoption of a variable refrigerant flow system, in addition to establishing a program financing solar panel projects.

LOGISTICS-

#1- Arab Contractors wants funding for Suez Canal logistics services area: Arab Contractors is in talks with Afreximbank over a USD 50 mn loan to fund its logistics services area near the Suez Canal, managing director Mohamed Mandour told Asharq Business. The area will serve the mostly agricultural area of El Salheya and house warehouses along with foreign and locally owned factories.

#2- Waste management services at the Suez Canal: Antipollution Egypt and the Egyptian Company for Supplies and Maritime Works will provide waste management services at the northern entrance of the Suez Canal under an agreement inked with the Suez Canal Economic Zone, according to a statement. The next phase of the project will see the two companies expand their waste management services to the southern entrance of the canal, the statement adds.

AVIATION-

Local airlines will soon launch flights between Cairo and Marseille in response to the demands of Egyptian expats in France, according to a Emigration Ministry statement. Nesma Airlines will operate two weekly flights between the two cities starting August, Air Cairo will launch two weekly flights mid-2025, and EgyptAir will operate five weekly flights starting 2026 or 2027, with the possibility of launching sooner if aircraft become available.

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