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Infrastructure 
FlapKap raises USD 34 mn in pre-series A round
The round was led by Dubai’s BECO Capital
BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits
The two wells will add a combined daily 400 mn cubic feet of gas to BP’s output
Auto distributors push for more locally-assembled vehicles to make up for import restrictions. PLUS: Somabay + Redcon, SODIC, TMG, Mass Developments, EFG Hermes, Kima
A group of companies that assemble vehicles led by GB Auto have agreed to increase their allocations to accredited distributor
That’s a wrap on Basata’s stake acquisition of MadfoatCom
The two buyers were 2.9 percentage points off their target to acquire up to 30% of the Jordanian company
Pioneers Securities dethrones EFG Hermes to top the EGX brokerage league table in August
EFG Hermes had led the table for 14 months in a row before Pioneers dethroned it
Egypt’s MaxAB and Kenya’s Wasoko complete Africa's largest-ever tech merger
The merger establishes a Pan-African platform serving Africa's USD 600 bn informal retail sector
Crypto companies account for half of corporate donations to political parties
Make the crypto corporations happy or they’ll take matters into their own hands
Valu closes first EGP 1.1 bn securitized bond issuance under new EGP 16 bn program
This is Valu’s 11th securitized bond issuance
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