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Banque Misr’s MDI has poured some EGP 2.5 bn into Onebank. PLUS: News from Elsewedy Electric, OPay, Edita
MDI received preliminary approval last week from the Central Bank of Egypt to launch Onebank
The lowdown on solar energy use in the industrial sector
Each MWh of solar energy currently saves around EGP 2.25 mn per year in electricity costs
Elsewedy Electric to work with foreign firms to localize grain silo production
The three sides will localize silo manufacturing, enhance food security, and help the sustainable development of the country’s agricultural sector
Private sector energy firms step in line for renewable energy projects under new peer-to-peer system
The peer-to-peer system allows private sector companies to produce renewable energy and sell it directly to private sector firms
Elsewedy to break ground on its New October industrial park within weeks + ramp up Gulf expansions
The company’s upgrades to its Saudi factory are scheduled to wrap up by late 2024
Elsewedy Electric’s bottom line jumps 87% in 2023
Shareholders are in line for a dividend of EGP 0.5 per share
Green Hurghada project secures USD 3 mn in funding. PLUS: News from NBE, FABMisr, Elsewedy Electric
The project is being carried out by the United Nations Industrial Development Organization and the Environmental Affairs Agency
Shift EV eyes larger 50k annual capacity factory. PLUS: GB Auto Jordan expansion, El Gouna solar power, oil and gas news, debt news, regulations news, NBE earnings
The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC
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