DIGITAL EXPORTS-

Deloitte Innovation Hub plans to invest USD 80 mn over the next three years to strengthen Egypt’s digital ecosystem, according to a statement (pdf). This builds on the USD 30 mn the company has already invested in the market.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

What they said: “As we move forward, we’re investing heavily in advancing our AI and cloud capabilities, further strengthening Cairo’s position as a global destination for digital excellence,” COO Ahmed Salem said.

REMEMBER- Deloitte was one of 39 global digital services companies said to be planning to use Egypt as their main base of operations.

DEVELOPMENT FINANCE-

Egypt secured EUR 294.5 mn in concessional financing, debt swaps, grants, and technical cooperation from Germany under agreements signed between the two sides during Planning Minister Rania Al Mashat’s time in Berlin. While some of the agreements are old news, some are coming to light for the first time.

The new agreements include: A EUR 15 mn grant to finance the second phase of the Risk Management Mechanisms project, which aims to support SMEs and facilitate their access to funds; A EUR 20 mn grant to fund the third phase of the national solid waste management program; A EUR 570k grant to help digitize distribution networks and support ongoing energy-efficiency upgrades.

PLUS- The two sides also signed the 2025-2028 negotiation protocol, which grants use EUR 123 mn in concessional financing and technical cooperation. The funding will support projects across a wide range of national priorities, including climate and energy transition and education.

MANUFACTURING-

Almarai subsidiary Beyti inaugurated five new production lines at its Nubaria factory, with EGP 1 bn in investments, according to a statement (pdf). The expansion boosts the factory’s production capacity for cheese, yogurt, and drinking yogurt.

Tags: