Banque du Caire arranges EGP 3.2 bn syndicated loan for Tameer’s UBL project

Banque du Caire (BdC) is arranging a EGP 3.2 bn syndicated loan for Tameer’s Urban Business Lane (UBL) in New Cairo’s Fifth Settlement, with three other banks on board. The medium-term facility covers part of the project’s investment costs and goes to UBL North and UBL South, two Tameer subsidiaries.

Banque du Caire is putting up EGP 1.33 bn, c. 42% of the total, and is the initial mandated lead arranger, facility agent, security agent, and account bank. Al Baraka Bank Egypt is in for EGP 590 mn (c. 18%). Abu Dhabi Commercial Bank Egypt and the Industrial Development Bank split the remainder, roughly EGP 1.28 bn by our math.

About the project: UBL spans c. 55k sqm, with 10 administrative buildings and a commercial zone. It sits within UrbanWalk, a planned mixed-use development that adds hospitality, residential, and leisure components. In 2024, Tameer secured a EGP 956 mn loan from BdC for UBL’s construction.

Enza’s next instalment

Egyptian-founded enza raised USD 6 mn in a Seed+ round led by Africa-focused 4DX Ventures, with British International Investment (BII), the UK’s development finance institution, joining as a new investor and existing backers Algebra Ventures and Quona Capital both adding to their stakes, according to a press release. The Abu Dhabi-based payments company, which serves banks and fintechs in 12 African countries, will use the fresh funds to expand into new markets, secure local operating licenses, and accelerate product development. It last raised USD 6.8 mn in March 2025 in a round co-led by Algebra and Quona.

PRE checks into hospitality

PRE Group signed a strategic partnership with Hilton to develop six hotels and four branded residential projects across Ain Sokhna, the North Coast, and New Cairo with a total investment of about EGP 14 bn, the group said in a statement (pdf). The projects sit inside PRE’s Telal Ain Sokhna, Jebal Ain Sokhna, Telal El Alamein, and Ivoire East destinations. This portfolio adds up to 2k hotel rooms and branded residences and is the first slice of a wider plan including eight international hotel brands across eight hotels, adding nearly 10k rooms and serviced units, starting with three hotels in Ain Sokhna.

Scale for a cashlight market

Damen Electronic Payments, Smart Group’s electronic payments arm, acquired payments company Wakty, according to a statement. The transaction folds Wakty’s more than 15k service points into a Damen network that serves over 110k merchants across all 27 governorates. With the Central Bank of Egypt (CBE) pushing away from paper money, cashless transactions grew 45% y-o-y by the end of 2025, Ehab Nasr, the CBE’s deputy assistant governor, told EnterpriseAM in February. The companies signed the agreement on the sidelines of Cairo ICT 2026 without disclosing terms.

One last round

The Financial Regulatory Authority (FRA) cleared Korra Energi to go back to shareholders for the 4.02 mn shares left unsold in its rights issue. The FRA has no objection to a second-round subscription invitation on the same terms, the regulator said in a letter (pdf) to Korra’s board dated 9 November. Shareholders took up 99.8% of the EGP 405 mn increase that lifts paid-in capital to EGP 855 mn from EGP 450 mn, leaving 0.2% worth c. EGP 824k at EGP 0.20 a share plus half a piaster in issuance costs. Subscription runs 15-17 November through QNB Al Ahli branches, and if it doesn’t clear this time either, Korra closes the increase at whatever gets taken up.