Private equity firm RMBV plans to invest USD 100 mn in Egypt in 2025

INVESTMENT

RMBV eyes increasing Egypt portfolio in 2025: Private equity firm RMBV plans to invest USD 100 mn in Egypt in 2025 to acquire minority stakes in four-five midsized companies, the company’s Managing Partner Ahmed Badreldin toldAsharq Business. The firm is particularly interested in investments in the industrial sector, with a focus on food production, medical tourism, and businesses that specialize in exports or import substitution.

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LOGISTICS

Enter, Egytrans Arabia: EGX-listed transport and logistics company Egytrans and Saudi Arabia-based Links Investments launched a new shipping company — Egytrans Arabia — headquartered in Riyadh, the newly formed JV said in a statement. “As we step into year 2025, our headquarters will serve as a central hub for delivering world-class logistics services and strengthening industry partnerships,” the statement read.

This isn’t the first time we heard about the partnership: The two companies first announced their plan to launch the company back in December 2023.

Look out for more Egytrans expansion news to come: “Even if we are a local company, we really see ourselves becoming a regional leader and competing with the big multinational transport and logistics companies,” Egytrans’ CEO Abir Leheta previously told EnterpriseAM. Egytrans Arabia is part of the parent company’s “first steps to grow regionally,” she added.

RENEWABLES-

ASORC breaks ground on EU-funded solar project: State-owned Assiut Oil Refining Company (ASORC) has broken ground on its EGP 550 mn, 10 MW solar power project, according to an Oil Ministry statement. The plant is expected to cover 10% of the company’s annual electricity consumption.

Refresher: The project is one of two EU-funded solar power plants worth over EGP 1 bn that the Madbouly government announced last year. State-owned petroleum-focused contractors Enppi and Petrojet were tapped to carry out the project at the time.

Wastewater recycling project in the pipeline: The company plans to roll out an industrial wastewater recycling project that will save 2 mn cubic meters of water annually and reduce operating costs by USD 1.5 mn, according to the statement.

M&A WATCH-

An Emirati firm to acquire majority stake in BMIC: An unnamed Emirati company has submitted an offer to acquire a controlling stake in indebted Building Materials Industry Company (BMIC) in exchange for settling its EGP 4 bn in outstanding debts, Al Shorouk reports citing unnamed sources.

HOSPITALITY-

Hilton opens new Nile-front hotel in Maadi: Global hospitality giant Hilton opened the Hilton Cairo Nile Maadi overlooking the Nile, according to a press release(pdf). The 255-room development, located in Cairo's Maadi, offers modern amenities and dining facilities for both leisure and business travelers.

Part of a larger expansion plan: Hilton is working on tripling its presence in the local market by opening 25 new hotels nationwide — part of a larger goal for Hilton to have 40 hotels operating in Egypt over the coming years.

STARTUPS-

IFC mulls USD 6 mn investment in Africa Seed Fund: The International Finance Corporation (IFC) is looking into investing USD 6 mn in the Africa Seed Fund, Flat6Labs’s Africa-focused seed fund, according to an IFC disclosure. The fund supports early-stage startups across Africa, with 49% of its investments directed towards Egypt. IFC’s board is scheduled to vote on the investment on 31 May.

Remember: Flat6Labs launched the USD85 mnseed fund in 2023 to invest in startups across East, West, and North Africa.

HEALTHCARE-

Burjeel set to improve bone marrow transplant accessibility in Egypt: The UAE’s BurjeelHoldings will establish a bone marrow transplant unit in Egypt under an MoU signed with the Health Ministry, reads a company press release. The project will be led by Burjeel Medical City and supported by Burjeel Cancer Institute.

ICYMI- Ras El Hekma master developer and Abu Dhabi wealth fund ADQ portfolio company Modon Holding tapped Burjeel to develop healthcare facilities and collaborate on public health programs in the USD 35 bn project.