The International Finance Corporation (IFC) is considering a USD 10 mn equity investment in local electricity meters manufacturer Global Tronics, the IFC said, according to a local press report. The proceeds will raise working capital and production capacity to allow it to meet high demand from the government, which yesterday said it will install almost 30 mn smart meters in homes, shops, and factories over the coming 3-4 years. The IFC investment would also support Global Tronic’s regional expansion strategy into Saudi Arabia and further into eastern Europe, as well as support its R&D activities.

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