CAPITAL MARKETS-

Fawry secures Islamic financing license: The Financial Regulatory Authority granted Fawry MSME Finance an Islamic financing license, according to a statement (pdf). The new license opens the door for Fawry to offer sharia-compliant financial solutions, “tailored to the growing demand for Islamic finance in Egypt.”

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ENERGY-

Oil Minister Karim Badawi discussed the terms of leasing the Energos Power floating regasification unit with German officials during his visit to Berlin yesterday, according to a statement. The discussions followed initial negotiations in Cairo in late February. The vessel is currently docked in Germany’s Mukran Port.

Remember: The Oil Ministry earlier this month announced that it is exploring the possibility of leasing a German LNG regasification vessel, and said a delegation would iron out the final terms of the agreement by the end of March. The vessel is one of a handful of regasification units the government had been in talks to lease in preparation for high energy demand in the summer months.

RENEWABLES-

The Gulf of Suez will soon be home to yet another wind farm: Siemens Gamesa inked an agreement with the Egyptian Electricity Transmission Company to set up a 500 MW wind farm in the Gulf of Suez, according to a statement. Under the agreement, Siemens will build, finance, and operate the project. No timeline or financial ticket was disclosed for the project.

This isn’t the first time we’ve heard about the project: Egypt’s cabinet greenlit the project in April under a build-own-operate agreement.

EXPANSION-

Investment bank Zilla Capital is looking into launching specialized funds in Saudi Arabia, including a pre-IPO fund, with USD 300 mn target capital over five years to invest in two to three companies annually, Managing Partner Marwan Younes told Zawya. Zilla has had its sight set on the Kingdom for some time now, with its chairman unveiling plans to launch its first project in KSA — an asset management company — back in September.

PHARMA-

Vitabotic’s local partner Aptecure announced EGP 600 mn expansion: Local private-sector pharma company Aptecure is on board with the government’s pharma localization plan and has an EGP 600 pharma production line expansion in the works to prove it, company officials told the Egyptian Drug Authority, according to a statement. The exclusive partner of British vitamin and food supplement company Vitabiotics also signaled its intention to increase cooperation with the authority.

HEALTHCARE-

State allocates EGP 3 bn to end hospital waiting lists: The government has set aside EGP 3 bn to provide treatment to 60k Egyptians without health ins., according to a joint statement from the health and finance ministries.

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