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INVESTMENT-
Dairy and juice producer Beyti plans to raise its investments in Egypt by EGP 7 bn over the next three years, in addition to EGP 6 bn currently, General Manager Chris Abboud said, according to a cabinet statement. The Almarai-owned producer is looking to enter new export markets this year, including China, Ivory Coast, Morocco, and Uzbekistan. It’s also eyeing further growth in Sub-Saharan Africa, the Commonwealth of Independent States, and Asia.
REGULATION-
The Financial Regulatory Authority issued temporary license requirements for medical ins. players and healthcare program managers, according to a statement from the regulator. The temporary license aims to give firms the chance to comply with the new requirements set under the Unified Ins. Law, which came into force in July, introducing new, comprehensive rules for regulating the ins. industry. The temporary license will grant firms a one-year grace period to bring their operations into compliance with the new legislation.
To qualify for a temporary license, companies must meet several conditions, including being structured as joint stock companies, having a minimum capital of EGP 10 mn, and having an active ins. portfolio of more than EGP 100 mn.
