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Karm Holding’s Venus secures EGP 70 mn for Cairo 3A’s off-grid energy push
Karm Holding subsidiary Venus secured EGP 70 mn in shariah-compliant financing from Banque Misr, according to a statement (pdf). The facility boosts the bank’s total backing to EGP 154 mn for its strategic, off-grid hybrid microgrid for poultry producer Cairo 3A. The new funds are earmarked for expanding the project’s energy infrastructure, bringing reliable, sustainable electricity to remote, energy-intensive agricultural sites.
Why it matters: Many agricultural and industrial operations in the country sit far from the national grid, making independent power essential, Karm Holding told EnterpriseAM. The company meets this need by financing, building, and operating custom hybrid microgrids that blend solar energy, battery storage, and diesel. By selling the electricity through long-term agreements, Karm allows clients to secure reliable power without bearing upfront infrastructure costs.
Granite gets FRA green light for USD fixed income fund
Granite Financial Holding received approval from the Financial Regulatory Authority to launch a USD-denominated fixed income fund, the asset management company said in a statement (pdf). The product is aimed at investors looking for stable USD returns and an alternative to holding idle USD liquidity in low-yield accounts.
The fund is being launched in partnership with Al Naeem Holding for Investments, with Granite acting as the investment manager. The company says that the offering is designed to support more efficient liquidity management for companies by allowing daily subscriptions and weekly redemptions.
FRA approves Egypt’s first agriculture private equity fund
The Financial Regulatory Authority (FRA) has approved the launch of Al Ahly Green Agricultural Fund, the first regulated private equity vehicle in Egypt dedicated to the agricultural sector, the FRA said in a statement.
Why it matters: This is meant to bridge the gap between institutional capital and one of the country’s most vital yet under-invested sectors. By allowing the fund to also engage in venture capital activities, the authority is setting up a one-stop shop for funding everything from traditional land reclamation to high-tech agrifood startups.
