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AI + Innovation (MENA) 
Infrastructure 
Second USD 20 bn tranche of Ras El Hekma funds land in state coffers
The tranche consists of USD 14 bn fresh inflows and USD 6 bn in the form of a previous UAE…
The Sovereign Fund of Egypt is heading to the Gulf
Good morning, friends. It’s another quiet morning with the news lull extending into the middle of the week. WATCH THIS…
A recap of day two of IFC regional VP’s visit: Fresh financing, advisory service agreements and privatization chatter
The IFC signed an advisory services agreement with the Universal Health Ins. Authority
Raya Contact Center’s board greenlights full acquisition of Gulf CX. PLUS: Oxy Egypt’s UAE expansion, new private freezone plans, Ras El Hekma marina greenlit
Raya CX acquired an 85% stake in the company in 2021
Beltone inks strategic partnership with the UAE’s Comera to develop payment, financing products. PLUS: Thames Freeport + Gorilla Technology, industry fund, Belmazad, Fawry
Comera Financial Holding runs a video call and messaging application called Comera
PIF returns to market in first post-float investment, aims to take CIRA Education private in partnership with founders
CIRA will become PIF’s regional education champion, looking to grow in Egypt and beyond
Telecom Egypt eyes USD 500 mn loan from Chinese lender. PLUS: Credit Agricole, Hyundai Rotem, UK Export Finance, ADES, Haier, Islamic Trade Finance Corporation, EgyptAir, Matouk Bassiouny
The company will reportedly pay for the loan in CNY given that a portion of its revenue stream originates from…
Cabinet approves USD 88 mn auto cables plants, ATIDI membership, fresh foreign assistance
The factory will earmark a sizable portion of its output — made using 60% locally-sourced materials — to exports
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