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OPEC Fund to help Egypt fund commodities imports. PLUS: AUC receives USAID grant
The fund is contributing to the ITFC’s USD 200 mn loan to fund commodity imports
Sanlam-Allianz Africa merger gets the greenlight from regulators
The new company will be worth around USD 1.8 bn
Eagle Hills signs up Hassan Allam to work on new North Coast development. PLUS: New anti-money laundering regs + news from Madinet Masr, Misr Life Insurance and SAIB.
Orascom Construction is also working on the project under a contract signed last week
Sehatech closes USD 850k pre-seed round. PLUS: Nagaty invests in Nocks
PLUS: Mohamed ‘Nagaty’ Aboulnaga invests in real estate startup Nocks
Cabinet approves fresh loans to support banking industry, fund Abu Qir metro
Ministers greenlight loans for banking sector reform + the Abu Qir metro.
Pensions-for-FX (if you’re an Egyptian expat)
Egyptians abroad can start drawing down the pension from the age of 50
AXA Egypt has a new CEO as Kandeel takes international role
Current CEO Ayman Kandeel has been promoted to a leadership role in AXA International Markets
Israel eyes linking its grid to Europe — and to ours
A 150-km subsea Mediterranean cable could link Israel’s grid to Europe
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