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Posted inEnterprise+: Last Night’s Talk Shows
Africa 2018 Forum remains in the spotlight on the airwaves
The second and final day of the Africa 2018 Forum was in the spotlight on last night’s talk shows, with Al Hayah Al Youm recapping the highlights of President Sisi’s speech (watch, runtime: 08:41) and Hona Al Asema focusing more on the president’s decisions (watch, runtime: 04:54). We have more on the conference in Speed […]
Posted inSpeed Round
Egypt signs financing, cooperation agreements at Africa 2018 Forum as El Sisi vows to support African development
INVESTMENT WATCH- Summing up the morning is a piece from Reuters on news of a USD 1 bn loan to Egypt from the World Bank: “The World Bank is pushing to prise open more space for Egypt’s private sector with USD 1 bn in new funding, part of a second phase of support that follows […]
Posted inSpeed Round
BP and Mubadala Petroleum buy stakes in Egypt’s Nour concession
INVESTMENT WATCH- BP buys 25% stake in Eni’s Nour concession: BP has acquired a 25% stake in the Nour concession from Eni, according to a statement from Eni. Industry watchers hope the offshore North Sinai concession could be a Zohr-scale discovery. The “transaction is part of a wider business alignment with BP internationally and further […]
Posted inSpeed Round
Egypt’s Carbon Holdings secures USD 1.25 bn for petrochemical complex
INVESTMENT WATCH- Carbon Holdings has secured another USD 1.25 bn in financing to build its massive Tahrir petrochemicals complex after signing a contract with the Lagos-based Africa Finance Corporation, Reuters reports. Carbon has now raised c. USD 5.4 bn for the USD 10.9 bn Tahrir Petrochemicals Company, according to a separate statement from cabinet. That […]
Posted inSpeed Round
Elsewedy subsidiary to develop SCZone area for estimated EGP 10 bn
INVESTMENT WATCH- Elsewedy to develop EGP 10 bn industrial zone in SCZone: An Elsewedy Electric subsidiary has signed a contract with the Suez Canal Authority that will see it develop an industrial zone in Ain Sokhna in the Suez Canal Economic Zone (SCZone) at an estimated total cost of EGP 10 bn, it said in […]
Posted inSpeed Round
Algebra Ventures raises USD 1.265 in series “A” funding round for Jordanian ed-tech platform Little Thinking Minds
INVESTMENT WATCH- Algebra Ventures leads USD 1.27 mn series ‘A’ round for Jordan’s Little Thinking Minds: Jordanian education technology platform Little Thinking Minds (LTM) raised USD 1.265 mn in a series A funding round led by our friends at Algebra Ventures, the firm said yesterday (pdf). Mindshift Capital and Al Turki Group also joined the […]
Posted inSpeed Round
Sawari Ventures nearing close on Egypt-focused VC fund, announces close of USD 35 mn North African fund
INVESTMENT WATCH- Sawari Ventures nearing close on large Egypt-focused VC fund: Sawari Ventures expects to announce soon the close of an Egypt-only venture capital fund that will invest an average of USD 1.5 mn apiece in 25 growth stage companies, the firm said in an announcement (pdf) at the Africa Forum in Sharm El Sheikh. […]
Posted inSpeed Round
Egypt’s B Investments mulling USD 15-20 mn acquisition in Benban solar plant
M&A WATCH- B Investments eyes 50% stake in 50 MW Benban solar plant: Private equity firm B Investments is looking to acquire a 50% stake in a 50 MW Benban solar plant for USD 15-20 mn, CEO Hazem Barakat told Al Mal. The company will make the decision in 1Q2019, he said. B Investments already […]
Posted inSpeed Round
Is the ECA really going after Apple?
The competition authority is going after Apple. Yes, Apple the iPhone maker. The Egyptian Competition Authority (ECA) accused iPhone maker Apple and some of its distributors of having violated antitrust regulations and ordered them to amend their contracts in a statement on Sunday (pdf). The competition watchdog alleges that Apple barring its regional distributors from […]