AGRICULTURE-

Tunisia eyes USD 25 mn investment in Egypt’s agriculture sector: Tunisia’s Union for Industry, Trade, and Handicrafts plans to invest USD 25 mn to establish a 10k-feddan olive farm and an olive oil production facility in Egypt, a government official told Asharq Business. The project would make use of Egypt’s vast agricultural land and growing demand for olive-based products.

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REGULATION WATCH-

The Labor Ministry issued a ministerial decree setting out new rules for approving workers’ resignations under the new Labor Law, according to a statement from the ministry. The decree aims to protect workers’ rights, simplify procedures, and ensure they can access their entitlements and documents after they terminate their employment, the statement showed.

NBFS-

Tamweely expands its scope with rebrand: Tamweely Microfinance has rebranded to Tamweely Financial Services, signaling its transformation into a full-spectrum non-banking financial services player. The company — previously focused solely on microfinance — is now branching into SME lending, leasing, and micro-ins., with plans to roll out Islamic finance and consumer finance products.

REFRESHER- This strategic shift comes after an international consortium — comprising SPE Capital’s SPE PEF III fund, the European Bank for Reconstruction and Development, Tanmiya Capital Ventures, and British International Investment — acquired the company last year for EGP 2.8 bn from state-owned shareholders. The transaction marked one of the government’s flagship privatization transactions and was billed as a major vote of confidence in Egypt’s non-bank financial services sector.

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