Karnak Garments to build USD 15 mn textile factory in Sadat City

Karnak Garments is building a USD 15 mn garment factory in Sadat City’s CPC Industrial Complex, expected to start operations in May 2027, according to a statement. The facility will use at least 50% local materials to produce garments exclusively for export to the US and the European Union.

Why it matters: Private freezones — including the one housing this facility — are a powerful incentive for exporters, as they bring the customs border directly to the factory gate. This removes port delays and slashes shipping costs. The project also supports the country’s goal to reach USD 12 bn in annual textile and garment exports by 2031, Egyptian Cotton Association Chairman Wael Olama previously told us. Textile companies — including Turkish and Chinese firms — are increasingly moving to Egypt to avoid rising costs and supply chain delays in Asia and Turkey.

Norwegian green investment eyes Egypt

A wave of Norwegian investment is on its way. Wastewater treatment player Cambi and recycling company Tomra have held talks with Egyptian entities to launch sustainable environmental projects, Norway’s ambassador to Egypt Erik Husem told Al Arabiya. Desalination outfit Flocean is also studying its entry into the local market.

The big picture: Norwegian companies view Egypt as a strategic gateway to Africa and the region, Husem added. Incoming investments focused on renewable energy, industry, maritime services, and sustainable infrastructure.

Zamalek SC to launch independent football company

Zamalek SC’s board has greenlit the launch of an independent company to manage the finances and operations of its football activities, it said in a statement. It aims to financially and administratively separate football management from the club, complying with state and Sports Ministry regulations. The board will convene a general assembly to discuss the articles of incorporation for the football company, whose board will be functionally independent.