Infinity, XPRS make EV home chargers more affordable

Infinity, XPRS launch installment plans for EV home chargers

You can now buy EV home charging stations with a manageable monthly bill: Local EV charging specialist Recharged by Infinity has partnered with electronics retailer XPRS to offer home charging stations and accessories on zero interest and zero down payment installment plans over 18 months via Valu, according to a joint statement(pdf). The move follows Infinity and Valu testing the waters back in December by offering short-term, six-month buy now, pay later plans for home EV chargers during the EVs Electricity expo.

ICYMI- Earlier this week, Infinity partnered with EFG Corp-Solutions on the country’s first-ever leasing agreement for charging solutions. While the XPRS agreement targets the individual homeowner, the leasing play helps real estate developers turn a heavy fixed cost into a manageable operating expense.

Mido secures mezzanine debt financing from Vantage Capital

Coatings manufacturer International Group for Modern Coatings (Mido) is tapping alternative financing to “unlock its production capacity.” It secured USD 45 mn in mezzanine debt financing from Vantage Capital that will be used to refinance existing debt and provide working capital to scale production, according to a statement from the Africa-focused debt fund manager. The transaction marks Vantage Capital’s third investment in the country and is “among the largest mezzanine debt transactions in the country’s history.”

Why this matters: Vantage’s investment is a sign of a wider move by investors looking for companies in Egypt that earn hard-currency revenues. Mido exports to over 50 countries and acts as a contract manufacturer for global paint giants like Nippon Paint, which means that much of its revenues are decoupled from the EGP while still benefiting from the country’s low-cost industrial base.

Advisors: Matouk Bassiouny and Werksmans acted as counsel to Vantage, while Adsero was counsel to Mido. Vantage’s consortium of advisors also included PwC Middle East, Emerton, and SLR.

Another day, another SCZone agreement

Alpha Smart inked an agreement to build a USD 100 mn integrated industrial complex in the Suez Canal Economic Zone, according to a statement. The facility will be built over 500k sqm over two phases and will reportedly attract an additional USD 150 mn in industrial investments.

(You know SCZone is doing well attracting investment when we’re this blazé about a USD 100 mn ticket…)

Egyptian-Emirati alliance to launch USD 500 mn mixed-use portfolio

Local developer Delta Capitalfor Urban Development has partnered with Emirates Global Real Estate Investment to launch a USD 500 mn portfolio of mixed-use projects across Egypt, Zawya reports. Construction will begin in 2027. The 500-acre portfolio will span residential, commercial, and service projects in Cairo, Kafr El Sheikh, and El Mahalla El Kubra.