M&As-

#1- Budget supermarket chain Kazyon is set to fully acquire Minya’s Upper Egypt forConcentrates — the company behind condiment, paste, sauce maker Giardano — pending approval from the Egyptian Competition Authority, unnamed sources told Al Borsa. The acquisition will be financed via a capital increase of an unspecified size, with EFG Holding advising on the transaction.

This isn’t Kazyon’s only expansion in the works, with the company — founded in 2014 by our friend Hassan Heikal, the former EFG Hermes CEO — planning to expand its portfolio to 5k stores across Egypt, Morocco, and Saudi Arabia within the next five years. This involves a USD 144 mn Morocco expansion over the next four years in addition to its entrance into through its 50% stake purchase in Saudi Arabia’s sole discount retailer Dukan in a SAR 250 mn (c. USD 66.7 mn) transaction.

#2- Tanmiya Capital Ventures is set to acquire a 21% stake in Vital Pharma in a transaction expected to close within the next two months, Tanmiya Managing Partner Mohamed Mahgoub told Al Borsa. The acquisition, which has already received approval from the Egyptian Competition Authority, will include a convertible loan provided by Tanmiya to Vital Pharma.

INVESTMENT-

Dairy products producer Bel Egypt is set to inject EUR 5 mn this year to add new production lines and upgrade its machinery, boosting production capacity by 12%, Regional Director Hani Aram said, Al Borsa reports. Bel’s new target is a considerable jump from the EGP 150 mn it was said to be targeting in October over a two-year period.

ENERGY-

The General Petroleum Company plans to drill 41 new oil and gas wells and repair or recomplete 39 others as part of its FY 2025-2026 investment budget, according to an Oil Ministry statement.

HOSPITALITY-

Pickalbatros Hotels & Resorts plans to add 2k hotel rooms to its local portfolio this year, which would increase the company’s total stock of rooms to 16k, CEO Kamel Abou Aly told Al Arabiya. Some 900 rooms will open their doors next month and the remaining 1.1k will go online before the end of the year, he said, adding that the rooms will be added to its hotels in Sharm El Sheikh, Makadi Bay, and Hurghada. Abou Aly previously mentioned plans to invest EGP 5 bn in the local market throughout 2025.

The hospitality player also plans to inaugurate two new hotels in Morocco in the coming months as it continues its expansion drive in the country.

TRANSPORT-

#1- Three European firms are eyeing the contract to manage and operate Egypt’s high-speed electric rail network, Al Mal reports, citing what it says are sources with knowledge of the matter. The companies — one Italian, one Spanish, and one French — put in their offers before the tender went live — the tender was set to launch later this month. The offers are being reviewed and the three firms are expected to submit their technical and financial offers before 2H 2025 and the selected firm will be announced late 2025 or early 2026.

We have an idea who the Italian company might be, as Italian state-owned Italian State Railways last month discussed submitting an offer to manage and operate the network with Transport Minister Kamel El Wazir. This came as the ministry awaits Deutsche Bahn’s — initially tapped for the role in 2022 — financial offer.

#2- Estonia-headquartered ride hailing app Bolt will invest EUR 15-20 mn in the local market over the coming three years as it works towards a nationwide expansion, country manager for Egypt and Saudi Arabia Haitham Mansour told Al Mal. Bolt launched in Cairo last March and plans to expand its services to Alexandria by the end of the year and to the rest of the country within three years. It also plans to expand its Cairo customer base of 700-800k to 2-3 mn by the end of the year.

MINING-

UK-based Akh Gold will invest some USD 5 mn in its Eastern Desert concession this year, the business development offer of the Naguib Sawiris-backed parent company In2Metals, Ahmed Khairy, told Hapi Journal. The investment will focus on completing exploration efforts, Khairy said, ruling out the possibility of acquiring any new mines in Egypt.

MSMEs-

The Micro, Small, and Medium Enterprises Development Agency has signed an EGP 60 mn contract with Erada Microfinance to provide technical and financial support to microenterprises, according to an agency statement. The agreement will finance 1.7k new and existing microfinance projects with a focus on production and agricultural projects and each project eligible for up to EGP 242k.

EDUCATION-

A campus for the UK’s Exeter University will be built in Ain Shams University’s international campus following an MoU signed by representatives of both institutions yesterday, according to a cabinet statement. The development falls under the government’s aims to internationalize education offerings.

Tags: