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Telecom Egypt’s net income rose by 25% y-o-y in 2023. PLUS: Bolt, Danieli, Majid Al Futtaim, Fawry + PayMe, FABMisr, Al Baraka Bank
The company’s revenues were up 28% y-o-y to reach EGP 56.7 bn, which it attributed to higher data services and…
Manufacturer of the Month: Beyti CEO Mark Wyllie
Beyti was established in 1998 and is operated by Saudi’s Almarai
China looks to establish industrial zone on the Mediterranean
The new industrial zone would both work to meet the needs of the local market, while also exporting to the…
Aman Holding and Contact Financial plan GCC expansions in 2024. PLUS: GB Capital + Golden Coast sukuk news, new gold fund, Banknbox + SWFT, PayTabs
Aman Holding will start providing installment services in Saudi Arabia in the second half of the year
As interest rates remain elevated, industry players are struggling to unlock capex investments
Banks are also reportedly concerned about risk levels associated with funding manufacturers
EKH wants in on the state’s privatization program. PLUS: Sawari Ventures USD 150 mn fund, Evolve gold investment fund, Fincart KSA HQ, Tamar ups production, Marakez loan
EKH also wants to set up electricity distribution stations under build-own-transfer agreements with the government
Gov’t and Emirati company team up for USD 3 bn aluminum factory
The factory will produce 600k tons of aluminum a year
With warmer political ties, Turkey could give Egyptian industry a shot in the arm
The two countries could revive plans for a Turkish industrial zone in Egypt
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