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The Transport Ministry began trial operations yesterday at the Safaga 2 multi-purpose terminal, Al Mal reports, citing unnamed sources. The UAE’s AD Ports Group — which tapped Hassan Allam Construction for infrastructure works — completed phase one of the superstructure, with a total investment of USD 200 mn. The terminal is Upper Egypt’s first internationally operated port and contractually requires AD Ports to handle 500k containers annually during its first five years.
Why it matters: The terminal gives Safaga more muscle at a time when the port is becoming a more important node in the Europe-Egypt-GCC corridor — cargo can land at Mediterranean ports, move overland to Safaga, and cross by ferry into Saudi Arabia and Gulf markets.
Magnite made in Egypt
Nissan rolled out the first Africa-made Nissan Magnite from its Sixth of October factory, according to a Cabinet statement. The model is made with up to 55% local content and is the automaker’s third locally assembled model. Nissan plans to export 7k of the 17k Magnite units it produces annually. The rollout follows Nissan’s USD 45 mn investment pledged in December 2024 to upgrade its local passenger-car assembly lines.
IN CONTEXT- The rollout aligns with the government’s Automotive Industry DevelopmentProgram, which targets 100k vehicles annually with 60% local content. For Nissan, the Egypt plant is its only passenger-vehicle manufacturing base in Africa after it sold its South Africa factory earlier this year.
Kuwaiti deposit stays
Kuwait rolled over its USD 2 bn deposit at the Central Bank of Egypt for an additional year after it matured in April, the Arabicpress reports, citing an unnamed CBE official. We heard about the CBE moving to renew the Kuwaiti deposit back in April, and the confirmation comes as Egypt’s foreign reserves continue their upward trajectory, rising by USD 125 mn in May to USD 53.13 bn and extending a record-breaking streak that has lifted reserves by roughly USD 1.68 bn since the start of the year.
Learning about AI — in Arabic
Local AI education platform Efham.ai secured an undisclosed sum from AI-focused investment firm Foras AI to scale up its Arabic-language tech training, Wamda reports. The startup will use the fresh capital to launch more than 100 AI training lessons by the end of 3Q 2026 across Egypt, Saudi Arabia, the UAE, Kuwait, Jordan, and other Arab markets.
Making AI accessible: Developed by local tech firm NixAI, Efham.ai aims to build the region’s first community dedicated to learning about AI in Arabic. It delivers its educational content in Egyptian colloquial Arabic to simplify complex technical concepts, helping users apply AI tools for content creation, product development, entrepreneurship, and fundraising.
Raising our aircraft fleet
EgyptAir plans to add 28 new aircraft to its fleet in 2026 and 2027 as part of a wider goal of expanding its fleet to 125 planes in the coming years, Civil Aviation Minister Sameh El Hefny said yesterday. The flag carrier currently owns 72 aircraft. AirCairo’s fleet is also set to expand from 42 aircraft to 82 within the next four years, he added.
