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AI + Innovation (MENA) 
Infrastructure 
AfDB approves USD 170 mn private sector development, economic diversification loan. PLUS: Paymob, Masria Digital Payments, SideUp, Mobica, Shell, Orascom Financial Holding
The funds will have a special emphasis on green growth
Minimum capital requirements for ins. companies raised in response to deprecating EGP
The new capital requirements for insurance firms take paid-up and issued capital to EGP 600 mn within two years
Raseedi eyes seven-figure investment in newly acquired nanocredit outfit Kashat. PLUS: Apache, Madinet Masr, Bank ABC + Eroglu Garment, Goldman Sachs
Raseedi is negotiating with a VC firm and three banks for EGP 3 bn in financing over three years
Klivvr to launch consumer finance arm
This comes after the fintech player received the green light from the FRA
Flend secures Egypt’s first digital NBFI license for SME finance
Flend offers tech enabled, data driven financing solutions to SMEs in Egypt
Entrepreneurship Ministerial Committee to release its start-up charter to support the sector in 1Q 2025. PLUS: UVAII Venture Studio, Electra + Elsewedy Electric, AT Lease, Kima, StrategizeIT, Air Arabia, G-Tec Education
The government wants to increase startup investments tenfold to USD 5 bn
Beltone Capital and Italy’s CRIF Ratings form JV to launch the country’s second credit rating agency
The entity is expected to commence operations following FRA approval
Hassan Allam Properties buys 110K sqm of El Gouna from Orascom Development for USD 37.4 mn. PLUS: Allianz Egypt, Tadweer, Chefaa, Luna, Didi
The sale is expected to attract investments in El Gouna’s infrastructure, amenities, and facilities
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