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AI + Innovation (MENA) 
Infrastructure 
Gov’t to offload its 46.6% stake in state-owned plastic maker Alamal Alsharif within weeks
The government wants to sell its stake to a strategic investor who will pay in USD.
Local HR tech startup bluworks closes USD 1 mn pre-seed round
The startup plans to use the funds to develop its services and expand its team
Ajlan & Bros could invest USD 1.5 bn in tourism project in Ras Gamila
The Saudi company also eyes stakes in several state-owned companies offered in the privatization program
Egypt inks 14 agreements with Chinese firms during China-Egypt Zhejiang Economic Forum
The projects include a USD 800 mn fiberglass factory and a power generation center
Madbouly government cuts privatization program targets for the year
Finance Minister Mohamed Maait said that the government was looking to raise some USD 6.5 bn as recently as February
Post for Investment sees revenue and income jump over 30% y-o-y in 2023. PLUS: National Bank of Egypt subsidiary to set up country’s third gold fund
Post for Investment saw its net income climb 32.4% y-o-y to EGP 664 mn in 2023
Egyptian-American Enterprise Fund to finance Tanmiya Capital Ventures fund. PLUS: City Lab stake sale fast approaching
The Egyptian-American Enterprise Fund will provide USD 50 mn in financing for Tanmiya Capital Ventures’ upcoming fund
Bidding for the second half of the Zafarana wind farm to open in 2H 2024
Good morning, friends. In today’s issue, we’ve got news of the World Bank downgrading our growth forecast for the current…
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