DEBT-

Local fintech startup Bokra plans to issue EGP 20 bn in sukuk across five offerings this year, founder and CEO Ayman Elsawy said during a presser attended by EnterpriseAM. The firm is expected to take its first EGP 3 bn issuance to market within a month.

Also in the pipeline: Bokra is gearing up to launch two investment funds, one focused on real estate and another on precious metals, in 1H 2025.

ENERGY-

Cheiron Energy plans to increase its oil and gas output by 33% by the end of 2025, bringing output to 160k barrels of oil and gas equivalent per day, an unnamed company official told Al Arabiya. The company is set to pump USD 300 mn into drilling and exploration this year, including drilling seven new exploratory wells and engaging in further exploration in three newly acquired blocks in the Western Desert.

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The company has been looking to expand in Egypt as of late: We got word late last year that Cheiron was eyeing further investments in Egypt’s oil and gas sector, with the company securing a USD 80 mn syndicated loan in December and another USD 75 mn syndicated loan in February to fund further exploration activity.

CONSTRUCTION-

Orascom Construction to build AUC’s campus extension: Orascom Construction will build the American University in Cairo’s 65-feddan expansion, which is set to include what have been dubbed the NextGen Student and Learning Living Spaces, as well as the Technology, Research, and Innovation Lab Building, and the Extended Education Hub, the company said in a statement (pdf). The project will feature five new buildings, an underground service tunnel, and infrastructure and landscaping works, all built in line with sustainable and green architectural standards

FINTECH-

Concrete Plus to launch Ultratech Plus with EGP 100 mn in initial investments: Local construction company Concrete Plus will make an initial investment of EGP 100 mn to launch fintech startup Ultratech Plus, which will specialize in digital financial services, according to a statement (pdf). Ultratech Plus will introduce a social financial app, digital solutions for SMEs, and financial solutions for the logistics and heavy transport sectors in its first phase.

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