Local firms are ahead of the global average on digital trade readiness, Standard Chartered finds

Egyptian businesses expect digitalization to lower costs by at least 10% in processing trade documentation and data, along with identifying overseas partners. Some 96% of these businesses anticipate similar savings on payments and settlements, according to Standard Chartered’s Future of Trade report (pdf) and press release (pdf). Egypt is ahead of the global average on two fronts: 58% of businesses report mature real-time cash visibility (vs. 26% globally), 52% report mature automated payments and collections (vs. 37% globally), and 96% say digital tools support a fast response to supply-chain disruptions, the third-highest share worldwide.

Looking ahead: Egyptian firms plan to target their investment capital over the next three to five years toward digital supply-chain finance platforms and real-time cash visibility tools, putting Egypt third globally in planned supply-chain finance investment. Meanwhile, half of these firms are looking to invest in automated payments as well as directing the same amount to cybersecurity and risk management.

Why it matters: Digital trade maturity here at home, as shown in the report, signals that the corporate sector is deepening its digital infrastructure ahead of a broader global shift. The report estimates that faster trade digitalization could unlock USD 2.8 tn in additional global trade by 2031.

The bloc keeps shrinking

Saudi investor Nawaf bin Dayel has raised his stake in EGX-listed Electro Cable Egypt (ECE) to roughly 5.24% from 3.44%, according to a bourse disclosure (pdf), having bought some 59.6 mn shares at EGP 2.04 apiece in an EGP 121.58 mn trade. This comes as Sumou Consultancy sold 209.75 mn shares — good for 6.33% of ECE — for EGP 427.89 mn at the same EGP 2.04 price, cutting its stake to 14% from 20.33%, a separate filing (pdf) shows.

The controlling bloc may be on its way out: Sumou is part of the Pioneers-linked group that has controlled ECE since Pioneers Holding’s three-way split in 2021 and rebranded as Aspire, and which also counts Gadwa Industrial Development (25.3%), Al Hosn Consultancy, and Nomow Consultancy. Sunday’s sale takes the bloc to 51.72% from 58.05%, down from 69.37% as recently as July (pdf) — some 17.7 percentage points off the group’s combined stake in nine weeks, by our math, with Al Hosn taking the biggest cut (pdf) in August (19.86% to 11.56% before buying part of it back).

One more trade this size puts the group under 50%. Meanwhile, Bin Dayel is buying at both levels of the structure: he cut his Gadwa stake to below 5% in August, before turning up in the subsidiary three weeks later.

More on our radar

• Act Financial inked an EGP 105 mn Sharia-compliant ijara real estate financing agreement with FRA-licensed Cairo Leasing Corporation. (EGX disclosure, pdf)
• Cairo-based fintech infrastructure firm banknbox built and deployed the full technology stack for Maldives Premier Bank (MPB) — the country’s first digital-led commercial bank. (Al Mal)
• The Financial Regulatory Authority signed a cooperation protocol with Startup Egypt to build and develop a digital platform that maps local fintech startups, angel investors, VC funds, and other fintech players. (Hapi)