LOGISTICS-

Transcargo International will conduct the technical and economic studies for a planned 676-meter multipurpose terminal at Sokhna Port, along with 335k sqm of back-of-house space, under an MoU inked with the Suez Canal Economic Zone, a statement from the zone showed. The two sides also signed an 18-month usufruct agreement allowing the Abu Dhabi Ports terminal operator subsidiary to immediately operate and exploit 47.3k sqm of quay and yard space for general cargo and dry bulk handling while studies are completed ahead of a full concession contract.

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INVESTMENT WATCH-

CI Capital Asset Management has been tapped as the regional investment manager for homegrown e-payments platform Sahl’s portfolios in Egypt and the UAE, according to a statement from parent company CI Capital. The agreement puts one of the country’s largest asset managers in charge of Sahl’s proprietary and client portfolios as the fintech player moves to ramp up its Gulf expansion strategy.

FINANCIAL SERVICES-

The Financial Regulatory Authority approved Fawry's request to establish Fawry Holding for Financial Investments, a vehicle to participate in setting up or investing in companies that issue securities, according to an authority statement. The authority also greenlit real estate player Emtelak Development's request to launch a real estate investment fund.

INTERNATIONAL COOPERATION-

Egypt will join the Saudi Arabia-led Middle East Green Initiative, after the cabinet approved a draft presidential decision to become part of the regional climate platform, according to a statement. The initiative aims to boost technical support, ecosystem-based climate solutions, land restoration, and coordinated regional governance across Central Asia, West and South Asia, North Africa, and Sub-Saharan Africa. It also seeks to open the door for green investment partnerships with governments, multilateral organizations, and the private sector.

The cabinet also greenlit Egypt’s accession as a partner country to the Horizon Europe program — the EU’s multi-bn-EUR research and innovation program. The previously announced move gives Egyptian researchers, universities, innovators, and entities the same access EU members have to the EUR 93.5 bn research and innovation program.

DEBT WATCH -

SODIC signed a EGP 3 bn revolving facility with Banque Misr, securing a four-year line to support ongoing construction and operational funding needs, according to a statement (pdf). The facility gives the real estate giant additional flexibility to manage working-capital cycles and keep project timelines on track.

SOUND SMART- Revolving facilities work like a corporate credit line, where the borrower can draw down funds, repay, and re-draw as needed over the facility’s tenor. This gives developers like SODIC the liquidity flexibility to pace construction spending, manage working-capital swings, and keep projects moving without locking themselves into a single lump-sum loan structure.

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