REGULATION-

The Financial Regulatory Authority (FRA) has extended its suspension on issuing new licenses for companies seeking to operate in consumer finance or microfinance for another year, according to a statement. The suspension now includes microfinance license applications from associations and civil society organizations. Fintech-based services are exempt from the decision.

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REMEMBER- Last October the FRA suspended issuing new licenses for the aforementioned NBFS, citing a notable increase in licenses granted over the past two years raising concerns about the financial solvency of existing service providers.

LOGISTICS-

Beit Logistics earmarks EGP 500 mn for Safaga Logistics Center: Egyptian shipping and logistics player Beit Logistics inked a land-use agreement with the Golden Triangle Economic Zone Authority to set up an integrated logistics center at Safaga Port — funneling in investments exceeding EGP 500 mn in the first phase of the project, according to a statement (pdf). The facility will be developed on a 65k sqm area and will create some 350 direct and indirect jobs.

On the cards: The hub will feature some 16k sqm of warehouse space, with a storage capacity of 1 mn tons annually. It will also host a 50k sqm container and general cargo yard, which will handle around 100k TEUs per year.

Leading the way: “In the coming years, we expect accelerated investment in transport, renewable energy, and logistics infrastructure [into the Golden Triangle], all supported by public–private partnerships,” Kadmar Group CEO and Beit Logistics Vice Chairman Medhat El Kady told EnterpriseAM. “Safaga, in particular, is set to become a gateway for exports from Upper Egypt and neighboring countries — linking mines, factories, and industrial cities directly to the global market,” he added.

MANUFACTURING-

Snackmaker Edita has inked a EGP 320 mn asset purchase agreement with an undisclosed regional company to acquire production equipment, including two cake production lines, two bakery lines, as well as related machinery, according to a disclosure (pdf) from the company. The move is expected to raise Edita’s production capacity by around 15% across its main product categories: cakes and croissants.

The added production capacity will help Edita meet growing consumer demand in its core segments, a representative from the EGX-listed company told us. The new lines will be housed in existing Edita factories and were acquired below replacement cost, they added.

M&A WATCH-

BasharSoft, the parent company of online job platforms Wuzzuf and Forasna, fully acquired iCareer, Egypt’s largest provider of employment programs and career solutions, according to a statement (pdf) from the buyer. The acquisition includes iCareer’s applicant tracking software Recruitera, which will be integrated into BasharSoft’s platforms to streamline hiring and enhance data-driven recruitment. The value of the acquisition was not disclosed.

What’s next? The acquisition supports BasharSoft’s plans to expand across the GCC, following its Saudi Arabia launch earlier this year. The company is also planning to pursue additional acquisitions in the jobtech and HR space, grow its workforce by 50% over the next two years, and increase revenues to USD 25 mn. It is also preparing for a potential IPO within two to three years.

REAL ESTATE-

One of One launches two real estate projects: Newly-established real estate developer One of One has launched two new projects in East and West Cairo, as part of a broader EGP 150 bn investment plan, with total targeted sales of EGP 13 bn, CEO Mostafa Salah said during a press conference attended by EnterpriseAM. The first project, dubbed Bridges, is a 10-feddan mixed-use development in Sheikh Zayed, while its second project, Grounds, will be a 50-feddan project in the Sixth Settlement hosting residential units, office spaces, and commercial areas. Construction work on both projects is scheduled to begin in 2026.

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