PHARMA-

A regional pharma raw material hub: The government plans to launch an EGP 80 mn project to create a regional hub for pharma raw materials to meet local market needs and regional exports, sources with knowledge of the matter told Al Mal. The Arab Company for Drug Industries and Medical Appliances (ACDIMA) and Eipico will break ground on the project, with plans to add more private investors at a later stage.

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FINTECH-

Abdul Latif Jameel Finance + OPay: Abdul Latif Jameel subsidiary Abdul Latif JameelFinance -Egypt has partnered with China-backed fintech player OPay to expand the company’s existing suite of customer payment options, according to a company press release (pdf). The agreement will also see Abdul Latif Jameel Finance gain access to OPay’s over 90k points of sale and payment kiosks in Egypt.

AVIATION-

Gov’t increases targets for sizing up our airports’ passenger capacity: The Aviation Ministry is aiming to increase the total capacity of Egypt’s airports to 72.2 mn passengers annually by the end of 2025, up from 66.3 mn recorded in 2023, according to a cabinet statement. The government is also aiming to boost the airports’ total capacity to around 109.2 mn passengers by 2030 — up from its previous target of 97.4 mn passengers a year.

INVESTMENT-

#1- More investments from Enara: Africa-focused renewables player Enara Group is looking to invest some USD 100 mn in the local renewable energy sector through 2027, CEO Sherif El Gabaly told Al Borsa. The company is looking to increase its investments in existing organic and biofuel companies. It also wants to increase its investments in the agriculture sector, he added.

ICYMI: Enara Group plans to dual list on the EGX and a Gulf exchange next year, El Gabaly said in May, without providing further details. The company is currently being restructured ahead of the listing and in the process of selecting an investment bank to manage the listing.

#2- More Emirati investments? The government of UAE’s Fujairah discussed potential investments in our oil sector during a visit by Oil Minister Karim Badawi to Fujairah, according to a statement. Discussions included the emirate partnering with Egypt to develop joint projects aimed at enhancing petroleum storage and handling infrastructure in Egypt, as well as cooperation on ship bunkering.

REAL ESTATE-

Madinet Masr launches new EGP 10 bn project in Sarai: Real estate developer Madinet Masr has launched its latest project in its Sarai development in New Cairo — dubbed Esse Residence — with investments of around EGP 10 bn, the company said in a press release (pdf). The new project is scheduled for delivery in 4 years and is expected to generate EGP 18.2 bn in revenues.

DEBT-

Telecom Egypt is looking to borrow EGP 18 bn from a syndicate of local banks led by Banque Misr and CIB, two unnamed sources tell Asharq Business. The loan — reportedly set to be finalized within two weeks — would be divided into an EGP 12 bn tranche earmarked for paying off the company’s short-term credit facilities and a second tranche that would fund operations and network development.

MINING-

Fresh mining tender: The government is gearing up to launch an international tender for mineral exploration in Sinai, the Eastern Desert, and the Western Desert before the end of the year, writes Al Mal, citing high-level government officials.

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