HEALTHCARE-

#1- The government is planning to localize 50% of all vaccine production by 2030, according to a statement from the Health Ministry. There will then be efforts to increase this to 75% by 2035 and full self-sufficiency by 2040.

#2- Gov’t allocates EGP 10 bn to settle debts owed to pharma firms: The Madbouly government has allocated a total of EGP 10 bn to settle a significant portion of debts owed to pharma and medical supplies companies, to be paid over the next three weeks, according to a cabinet statement. The government will allocate EGP 4 bn this week and EGP 3 bn for each of the next two weeks to be spent on paying the debts, with Prime Minister Mostafa Madbouly affirming the government’s efforts to fully settle the dues owed to these firms, the statement reads.

#3- Health Ministry oversees signing of MoUs with international healthcare firms: The General Authority for Healthcare inked cooperation protocols with healthcare firms Edge and Mindray, according to a statement. The agreement with Edge will help the government utilize surgical robots and advanced technologies, while the agreement with Mindray aims to localize health solutions and train medical personnel.

Additional agreements were made with local entities: The General Authority for Healthcare also signed an agreement with the head of Egypt’s National Food Safety Authority to work on promoting nutritional and health policies through awareness programs, as well as another agreement with a member of the National Alliance for Civil Development Work to “to support developmental projects, improve healthcare services, and boost medical tourism.” the statement reads.

AVIATION-

Dubai-based airline Flydubai will start offering daily, direct flights between Dubai International Airport and Alamein International Airport starting next summer, FlyDubai announced. The seasonal route will operate between 21 June and 7 September, with tickets starting from AED 1.9k.

EXPANSION-

E-finance and Cassava Technologies to explore joint expansion in Africa: State-owned fintech giant E-finance and Africa-focussed digital solutions company Cassava Technologies signed an agreement that will see the two firms identify areas for collaboration and joint expansion in Egypt and Africa, according to a Cassava statement.

MANUFACTURING-

Ezz Steel suffers operational malfunction in one of its facilities: One of the steel meltshops of steel giant Ezz Steel’s subsidiary Ezz Flat Steel has suffered a serious malfunction, with the repair period expected to extend for approximately nine months, the company said in a disclosure to the London Stock Exchange.

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