AUTOMOTIVES-

Another Chinese auto manufacturer plans local assembly in Egypt: Auto Jameel — the local agent for Chinese automobile manufacturer GAC Motor and other car brands — is set to begin assembling 2-3 GAC models locally, with plans of manufacturing 10-15k vehicles per year, in what would be the first locally produced GAC models, Al Mal reports, citing unnamed sources. The company is set to produce 5k vehicles from each model annually, the sources said.

The company will initially begin producing at third-party production lines, until it establishes its own independent factory within three years, according to Al Mal.

Remember: Prime Minister Moustafa Madbouly offered to give GAC Motor special incentives and a golden license to expand production to Egypt during the three-day Forum on China-Africa Cooperation.

PHARMA-

Introducing Glow, Rameda’s new subsidiary: Local pharma player Rameda has announced the establishment of a new subsidiary — dubbed Glow — that will specialize in freely priced cosmetics and cosmeceuticals, Rameda announced in a press release (pdf). The first wave of products under the newly established firm is set to be launched in the market by January 2025, the company said.

What they said: “Glow, as a newly established subsidiary of Rameda, will not only contribute to our financial performance but will also play a pivotal role in transforming our revenue base…this strategic move focuses on import substitution in the cosmetics and cosmeceuticals markets, addressing the gap created by the unaffordability of imported products due to successive devaluations,” Rameda CEO Amr Morsy said.

MANUFACTURING-

#1- Vodafone Egypt to begin manufacturing routers locally: Vodafone Egypt has signed an agreement with the privately held Al Safy Group and Malaysian tech company Green Packet to manufacture high-speed internet routers locally, Al Borsa reports. The collaboration will see Vodafone raise production to 1 mn devices per year for the domestic market and for export, with African markets being the telecom company’s first target, according to unnamed sources speaking to Al Borsa in a separate story. The company also aims to bring the percentage of local components used in the routers to global levels within two years — part of a larger push to localize the telecom industry.

#2- State-owned Ayadi for Investment & Development is planning to set up three industrial complexes in villages with over EGP 300 mn in investments, Chairman Osama Saleh told Asharq Business. The first EGP 100 mn complex, which is based in Fayoum and will produce ready-made clothing, is set to launch by the end of January, according to Saleh. If the project goes well, the company plans to establish two more industrial complexes, with the company currently looking at areas in Minya and the Nile Delta.

ENERGY-

Egypt is hoping to up its imports of Israeli gas by 13% by next month: The Oil Ministry is looking to increase its Israeli gas imports by the equivalent of 150 mn cf/d to reach 1.1 bn by October, a government official reportedly told Al Arabiya Business. Our daily imports of gas from Israel rose to 950 mn cf/d at the beginning of September, up from 870 mn during the previous month, the official said.

Remember: The Israeli Energy Ministry greenlit an agreement in February to increase its gas exports to Egypt from Chevron’s offshore Tamar field three-fold starting July 2025 and carrying on for the next 11 years. Israeli exports of natural gas to Egypt were reportedly set to rise to 1.5 bn cf\d starting from 2H 2025.

M&A-

Entlaq Holding inks agreement to acquire minority stake in Brotinni: Cairo-based startup accelerator and consulting firm Entlaq Holding announced its acquisition of a minority stake in Egypt-based food solutions provider Brotinni. The acquisition will see Entlaq leverage its business development experience to help “accelerate Brotinni’s growth within Egypt and facilitate its entry into regional markets across the Middle East,” according to the statement.

STARTUPS-

ACUD launches proptech incubator: The Administrative Capital for Urban Development (ACUD) has launched a incubator for real estate startups, it said in a statement(pdf). The initiative aims to equip startups with the resources to succeed in the proptech sector. ACUD Chairman Khaled Abbas also underscored the importance of proptech in the future of urban development and supporting the transition towards smart cities in the statement.wrapped on Friday in Beijing.

AGRICULTURE-

Raya Foods inks agreement to add 800 acres of strawberry production to its portfolio: Raya Foods has signed an agreement with nine agricultural producers to grow 800 additional acres of strawberries, as part of a push to strengthen the company’s exports and local production, according to a company statement (pdf).

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