EXPANSION-

Simplex plans USD 13 mn KSA expansion: Local industrial machinery manufacturer Simplex inked an MoU with Saudi Arabia’s National Industrial Development Center to establish its first factory in Saudi Arabia that will begin operations in 1Q 2026, CEO Ahmed Shaaban told EnterpriseAM. The CNC factory planned for Riyadh will be funded by its Saudi partner.

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REAL ESTATE-

Madinet Masr teams up with Korra Energi to accelerate constructions of Taj City: Local property developer Madinet Masr has inked an EGP 480 mn MoU with local energy solutions firm Korra Energi to expedite the construction of the developer’s Taj City project, according to a statement(pdf).

INFRASTRUCTURE-

Taqa Arabia to power the Golden Triangle Zone: Taqa Arabia is set to develop utilities for the Golden Triangle Economic Zone in Safaga, including electricity, gas, water, and waste management, under a cooperation agreement inked with the zone, a statement (pdf) reads.

FINTECH-

Money Fellows launches Egypt’s first prepaid card for money circles: Money Fellows has launched a new prepaid card for collaborative lending associations or “money circles” — known in the region as a gameya — in collaboration with Banque Misr and Mastercard, according to a Mastercard statement. The new card offers users aged 16 and above features such as online and in-store purchases, ATM deposits and withdrawals, expense tracking, and cash back on transactions. The card, available free of charge during the launch phase, is Egypt’s first prepaid card for money circles, the statement said.

AUTOMOTIVE-

Al Amal Auto to roll out BYD EVs in Egypt: Al Amal Auto, the local agent of BYD vehicles, plans to introduce the Chinese automaker’s electric vehicles to the Egyptian market in the coming months, Chairman Amr Soliman told Al Mal.

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