LOGISTICS-

Progress on AD Ports’ Ain Sokhna terminals: The Transport Ministry is set to transfer two marine terminals at the Sokhna Port to Emirati shipping and logistics giant Abu Dhabi Ports before the end of 1Q 2025 for the development of their superstructure, Al Mal reports, citing sources it says are in the know. A high-level committee is reportedly close to finalizing the final terms of the contract, which will then be presented to the cabinet and House for approval before the transfer takes place.

What terminals? Earlier this year, AD Ports inked two 30-year concession agreements with the SCZone to develop, manage, and operate a roll-on, roll-off ship terminal and a cruise terminal in Ain Sokhna Port.

CAPITAL MARKETS-

Mobica launches USD 100 mn fund: Local home, office, and workplace furniture manufacturer Mobica launched a USD 100 mn fund targeting dollarized sectors, namely agriculture and manufacturing, CEO Mohamed Farouk told Asharq Business. Dubbed Morpho, the new fund aims to attract investments from Saudi Arabia’s Public Investment Fund.

FINTECH-

MID Takseet + Basata: Fintech player MID Takseet customers can pay their installments through Basata’s payment network, which includes 34 branches and 160k points of sale across 19 governorates, under a newly-announced strategic partnership between the two, according to a statement (pdf). MID Takseet announced similar partnerships with Al Ahly Momkn earlier this month and with Paymob in March.

DISPUTES-

Gov’t reclaims 26k feddans and pays only 1% of USD 8 bn claim in ruling with Kuwaiti arbitrators: The World Bank’s InternationalCentre for Settlement of Investment Disputes (ICSID) ruled favorably for Egypt in a dispute filed by Kuwait’s International Holding Projects Group and other Kuwaiti arbitrators, according to a statement by the State Lawsuits Authority. The ruling reduced the state’s compensation to less than 1% of the USD 8 bn in damages sought by the plaintiffs, who alleged that their investments in Egypt-Gulf for Investment & Development were damaged, after the authority refuted most claims. The ruling also confirmed the legal dissolution of the project and the return of 26k feddans of land in Al Ayat to Egyptian state control.

NBFS-

TMG wants to step into the world of consumer finance: Talaat Moustafa Group (TMG) subsidiary OrionFacilities Management Services wants to set up a consumer finance firm next year, initially providing payment facilities for TMG services, Asharq Business reports, citing two sources with knowledge of the matter. Orion will own a minority stake in the new firm and an unidentified financial institution will hold a majority stake.

RECYCLING-

Mauritius mulls e-waste recycling project in Egypt: A group of Mauritian investors are exploring the possibility of constructing a large-scale electronic waste recycling facility in Egypt, according to a General Authority for Freezones statement. The facility would extract gold, platinum, silver, palladium, and copper from the electronic devices and convert plastic waste into fuel, Greentech CEO Basil Botha said.

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