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TAX-
The Finance Ministry formed a permanent committee to address tax issues facing investors and support the business community, according to a decision seen by EnterpriseAM. The committee, launched in cooperation with the Federation of Egyptian Chambers of Commerce, will study tax and customs obstacles, review legislative proposals, organize seminars to promote voluntary tax compliance, and provide solutions to support economic activity and simplify procedures.
INVESTMENT WATCH-
East Lane Partners invests in Cloudzlab: Private equity firm East Lane Partners has invested an undisclosed amount in Egypt-founded, UAE-headquartered Cloudzlab, according to a statement. The fresh funds will help Cloudzlab expand regionally, starting with an office in Saudi Arabia set to open by 3Q 2025 and enhance its tech delivery capabilities, East Lane Partners Co-Founder Sherif Nagui told EnterpriseAM. The company is also planning to expand its capabilities through strategic partnerships to expand its offerings across CRM, data solutions, AI, and Agentforce — a platform that allows businesses to set up autonomous AI agents.
About Cloudzlab: Cloudzlab is a fast-growing Salesforce partner specialized in delivering scalable CRM solutions, consultancy, and integration services. The firm has been the leading homegrown Salesforce partner in Egypt, experiencing a five-fold growth over the past four years. Following the East Lane Partners investment, Cloudzlab plans to increase the team from 80 to 200 people in the coming 18-24 months, Nagui added.
STARTUPS-
#1- COREangels MEA launched a USD 10 mn fund to support early-stage startups across the Middle East and Africa, in partnership with PTS Holdings and the Arab Academy, according to a statement (pdf). The fund will focus on supporting and funneling funds into sustainability-aligned tech startups, according to COREangels MEA Co-Founder Maha Mandour.
The network offers investment support of up to USD 150k, as well as technical and advisory services to help startups tap into new markets, she added.
REMEMBER- COREangels launched its Cairo-based MEA fund back in 2023, which is jointly managed by COREangels and PTS Holdings’ ORO Partners. The fund invests in pre-seed and seed-stage tech startups across the MEA region.
#2- DistrupTech plans new fund, investments: Local fintech- and tech-focused VC DistrupTech Ventures is planning to launch a second fund next year and begin exiting some of its current investments in 2027, founder Mohamed Okasha said during a presser attended by EnterpriseAM. The firm plans to invest USD 12 mn over the coming 18 months, Okasha added.
EXPANSION-
Local player Zeinox and Omani state-owned energy player OQ will establish a plastic factory in Oman under a USD 2.6 mn investment agreement between the two, the Omani Embassy said in a statement. The project is being supported by below-market prices for input plastics, reduced industrial land prices, and other incentives from the Omani government.
