INVESTMENT WATCH-

Two Chinese smartphone makers are looking to locally manufacture their phones in Egypt under a six-month pilot investment, which will see HKEX-listed Coolpad and KXD invest EGP 100 mn in an experimental first stage, Al Mal reports, citing unnamed industry sources. The two companies will produce mid-range phones with a local component ratio reaching 45%.

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The two companies will take stock of the experiment six months in — and hopefully follow this with some more investment news. Both companies have a particular interest in establishing production facilities in Egypt due to the country’s position as an entry point to African markets, according to the sources.

PHARMA

Indian pharma player BDR Group is in talks to establish a facility for biologics and cancer meds in Egypt, according to a Health Ministry statement. Future Pharma Industries, an SPE Capital Partners affiliate, was also part of the discussions. Health Minister Khaled Abdel Ghaffar directed stakeholders to set a clear timeline for execution and expedite the registration of BDR’s products with the Egyptian Drug Authority.

EDUCATION-

Alexandria University will open its Abu Dhabi campus at the start of the 2025-2026 academic year, Emirati state news agency Wam reports. The new campus will offer programs in health, engineering, computer science, business, and the humanities, alongside professional courses and joint degrees with international universities. Preparations for the launch are currently underway.

MANUFACTURING-

Fresh Electric will invest EGP 250 mn to establish a new water pump factory in 6th of October, Al Borsa reports. The factory will initially focus on meeting local market needs with future plans to expand into exports. The company is also planning to invest an additional EGP 200 mn to build three feeder factories.

AUTOMOTIVE-

GB Auto has acquired the rights to distribute China’s Deepal electric vehicles in the local market, and has introduced its first two models, the S07 and S05, Al Borsa reports. The company has already set up a dedicated showroom for Deepal at Mall of Arabia and will initially provide after-sales services through its Abu Rawash center.

ARTIFICIAL INTELLIGENCE-

Meska AI’s newly-launched investment arm Meska Ventures made its first investment, with USD 150k funneled into generative engine optimization startup Zaher AI, the Cairo-based artificial intelligence solutions firm said in a statement seen by EnterpriseAM. Through its investment arm — modeled after global startups accelerator giant Y Combinator — Meska aims “to position Egypt at the heart of the global AI map.”

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