STARTUPS-

Breadfast secures USD 10 mn: Local grocery and bakery delivery startup Breadfast has secured USD 10 mn in a Series B2 round, which saw participation from the European Bank for Reconstruction and Development and Novastar Ventures, according to a press release. This latest round pushes the company’s valuation to around USD 400 mn.

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Where’s the money going? Breadfast will use the fresh capital to expand its fulfillment network across the nation and step into new markets. Part of the funding will support the growth of its fintech arm, Breadfast Pay, which offers savings, withdrawals, and branded payment cards.

BANKING-

HSBC Egypt has launched treasury APIs — Application Programming Interface — allowing companies to integrate directly with its treasury and payments systems for real-time access to its cash management services, according to a company statement (pdf).

What they said: “This marks a key milestone in advancing our digitization agenda in Egypt in line with HSBC’s broader commitment to delivering innovative digital solutions that support clients’ resilience and competitiveness. By giving businesses real time visibility and control over their cash, HSBC Treasury APIs help our clients unlock faster and smarter financial decisions and open new possibilities for growth,” Deputy Chairman and CEO Todd Wilcox said.

MANUFACTURING-

Elsewedy Industrial Development will develop an integrated, sustainable industrial and logistics zone in Safaga under an MoU signed with the General Authority for the Golden Triangle Economic Zone, according to a statement. The zone will target several industries, including mining, engineering, manufacturing, chemicals, and food, with the goal of attracting local and foreign investment, creating jobs, and increasing Upper Egypt’s industrial output.

And another one: Elsewedy Industrial Development secured a 350-feddan plot in New Borg El Arab to establish a comprehensive industrial zone under the industrial developer system, according to a statement. Industrial land plots within the new zone will range between 2.5k-5k sqm and are set to host engineering, chemicals, textiles, food, and storage projects.

REAL ESTATE-

The New Urban Communities Authority will invest EGP 120 bn in New October City over the coming three years, Asharq Business reports, citing an unnamed official. Around EGP 50 bn will be allocated to utility projects and EGP 70 bn to housing, with half of the spending directed to an 8.5k-feddan expansion area.

DEBT WATCH-

Minapharm to secure EUR 26 mn from Triquera: EGX-listed pharma player Minapharm’s board signed off on a EUR 26 mn, interest-free loan from majority shareholder Triquera, according to an EGX disclosure (pdf). The loan comes with no obligations for the company and may be converted into new shares at par value, subject to a capital increase.

REMEMBER- Africa-focused private equity firm Admaius Capital Partners last month bought aminority stake in Triquera — which owns a 79.59% stake in Minapharm — through a capital increase in Triquera.

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