Leoni lines up EUR 80 mn for new electric cables and wiring facility

The Egyptian arm of Germany’s Leoni will set up a EUR 80 mn industrial complex in Badr City by 2028, as the company scales up its production of wiring harnesses and electric cables for both conventional and electric vehicles, Managing Director Sherief El Dessouky told the Arabic press. The new complex will double the company’s current production capacity of 100k wiring harnesses per day.

Why it matters: The move directly supports the National Automotive Industry DevelopmentProgram’s target of a 60% local component ratio. It’s also a data point in a quiet but intensifying North Africa supply chain rivalry: Morocco — including Leoni’s own recently launched commercial vehicle wiring plant in Agadir — is positioning itself as a lean export gateway to Europe, while Egypt is banking on its labor scale and domestic supplier depth to build something broader.

DATA POINT- The country’s electrical wiring exports surged 29% last year to USD 752 mn, with Turkey taking the largest slice at 33% (USD 249 mn). Slovakia was the second largest importer of Egyptian electrical wiring at USD 106 mn, followed by the UK at USD 87 mn, Al Arabiya reports, citing the UN trade database.

Powering the Med pledge

ExxonMobil and QatarEnergy will explore how to link Cypriot gas discoveries to the country’s energy infrastructure under an MoU inked with the Oil Ministry.

IN CONTEXT- The agreement comes a day after Cyprus set a 2028 target to route offshore natural gas exports to Europe through Egypt. While Egypt already holds midstream agreements to transport, process, and liquefy gas from the Eni and TotalEnergies-operated Cronos field (off the coast of Cyprus) at its Damietta plant, looping in ExxonMobil and QatarEnergy expands the government’s prospective processing pipeline.

Bonyan sees “strong start” to 2026

Real estate investment company Bonyan saw its net income rise 42.3% y-o-y in 1Q 2026 to EGP 593.3 mn on the back of robust sales activity and appreciation in the company’s investment portfolio by EGP 800 mn, according to its latest earnings release (pdf). The firm’s top line more than doubled to EGP 370 mn during the three-month period.

Revenue growth was driven by a successful sales restart at Walk of Cairo, strong rental revenues boosted by repricing, contractual escalations, and new leases.

Telecom Egypt opens 2026 with topline surge

Telecom Egypt saw its net income drop 23% y-o-y in 1Q 2026 to around EGP 3.6 bn on the back of losses linked to the revaluation of foreign-currency liabilities, which amounted to EGP 5.3 bn, according to its latest earnings release (pdf). Barring these losses, the bottom line would have risen around 27% y-o-y to EGP 5.9 bn.

The firm’s top line rose 14% y-o-y in the same period to EGP 28.2 bn thanks to a modest increase in its customer base. Data revenue made up 69% of total topline growth, jumping 23% y-o-y in 1Q.

More on our radar:

• Fintech giant Fawry launched its services on smart transportation app Tariqi to automate toll collection across Egypt’s highway network. (Press release, pdf)
• Investment platform Thndr plans to launch a real estate investment fund in 3Q introducing fractionalized property investments, pending regulatory approval from the Financial Regulatory Authority. (Zawya)
• Saudi Folk Maritime launched Red Sea Express, a 1.1k-TEU shipping service connecting Ain Sokhna to Jordan’s Aqaba, and Saudi Arabia’s Yanbu and Jeddah ports to accelerate regional cargo handling and lower transport costs. (Statement)
• EFG Hermes was the sole global coordinator for the Saudi Omani Investment Company on a USD 92.5 mn block equity sale in Oman’s OQ Base Industries. The transaction marks the first accelerated bookbuild ever executed in Oman’s capital markets. (Press release, pdf)