Egypt Edition 
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AI + Innovation (MENA) 
Infrastructure 
Venture debt funding for local startups drop 86% in 2023
The country witnessed two venture debt transactions during the year
Adnoc Distribution to manufacture motor oil in Egypt before the end of 2024
The company is also looking into obtaining a license to establish charging stations for EVs
Egypt was among Saudi Arabia’s top investors last quarter
Egypt along with the UAE and Singapore each closed three agreements in the Kingdom
Valu launches Ulter, a high-end finance platform for affluent customers
Ulter will compete on approval time and offer up to EGP 60 mn in financing for the purchase of goods…
Meet our founder of the week: Anchor’s Omar Wahba
Anchor is a travel agency that specializes in adventure travel
North Petroleum to boost production from Western Desert block. PLUS: News from Harbour Energy, Alfa Trans, Mal Bazaar, Instapay
Harbour Energy snaps concessions in the Nile Delta, Mediterranean
EFG Hermes tops the EGX brokerage league table again in May
EFG Hermes has led the table for twelve consecutive months
Algebra Ventures backs Moroccan agritech startup. PLUS: News from Taqa and ACDIMA
Algebra Ventures participated in a pre-Series A funding round for YoLa Fresh
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