MANUFACTURING-

Delemar Industrial Group plans to invest EGP 5 bn to establish some of the largest industrial complexes in the region, according to a statement from the company. The company is expanding its operations in glass, cladding, and aluminum coatings to boost production capacity and is currently building the region’s largest aluminum coating factory with an annual capacity of 50k tons.

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What’s in the pipeline? The expansion plan includes launching automotive glass production for passenger cars, buses, and trucks with a capacity of 750k in two years and adding fire-resistant ACP cladding and coating lines with a combined capacity of 20k tons annually. Delemar will also build an architectural glass complex to double output to 2 mn sqm per year, a Double Booth aluminum coating plant expandable to 50k tons, and an anodizing line with a 15k-ton capacity.

REGULATION WATCH-

The Financial Regulatory Authority issued Egypt’s first binding corporate governance rules for ins. and reins. companies, according to a statement from the authority. The new framework aims to boost transparency, accountability, and risk management in the sector.

Among the rules is the prohibition of board members “engaging in brokerage activity on their own behalf” to ward off any conflicts of interest that may arise. Board members now need to disclose any personal interest they may have in contracts the company enters into and obtain the general assembly’s approval for any of these contracts. Members deemed to have a personal interest in the contract will be barred from voting on it and are not allowed to be in a position of competition with the company without the green light of the general assembly first.

The rules also require ins. players to establish internal governance charters detailing board and committee responsibilities, internal control systems, and policies on risk, compliance, investment, ethics, and sustainability. Companies must also appoint a governance officer, prepare annual governance reports, and form ten specialized board committees. The decision also mandates electronic documentation of board and general assembly meetings, clear separation of board and executive roles, cumulative voting for board elections, and full disclosure of ownership structures and related party transactions. Insurers have one year to meet the new requirements.

DEVELOPMENT FINANCE-

The European Bank for Reconstruction and Development (EBRD) approved a EGP 250 mn senior unsecured loan to Fawry under the lender’s Egypt Youth in Business program, according to its website. The program aims to support micro, small, and medium enterprises (MSMEs) owned or managed by young entrepreneurs nationwide, with a particular focus on remote areas.

There’s more to the funding: The package also includes technical support, risk coverage, and additional incentives funded by the EU and the EBRD through the EU-Egypt Micro and Small Inclusion Program. This is “aimed at strengthening the capabilities of Fawry MSME and the sub-borrowers while alleviating the impact of macroeconomic turbulences on end-beneficiaries”.

EARNINGS WATCH-

State-owned EgyptAlum saw its net income after tax drop 43% y-o-y to EGP 2.4 bn in 1Q FY 2025-2026, according to its latest earnings release (pdf). Meanwhile, revenues fell 0.1% y-o-y to EGP 11.3 bn during the quarter.

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