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AI + Innovation (MENA) 
Infrastructure 
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a fund that was already at USD 105 mn before DPI…
Paymob secures backing from Abu Dhabi sovereign investor and EBRD
The latest round takes Paymob’s total disclosed funding to roughly USD 125.5 mn, by our math
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
Czech’s HPC, Egypt’s Treegas to build EUR 10 mn fiberglass cylinder factory. PLUS: Onasolar, Scatec, Pfizer, Ever Pharma, Roche, Paymob + Homzmart
The first phase will see investments of EUR 7 mn, contributing to an annual production capacity of 500k cylinders
Paymob secures USD 22 mn in funding
The fresh funds bring the company’s total Series B funding to USD 72 mn
Egyptian startups aplenty on Forbes Middle East fintech list
More Egyptian companies made the cut than firms from any other single country
Siemens to build smart health facilities in Egypt. PLUS: Tejas Network, Paymob + MID Takseet, Afreximbank + Hafiz
The revamp aims to increase the efficiency of the facilities, reduce energy consumption and disruptions, and improve patients’ comfort and…
Heidelberg Materials commences waste heat recovery system. PLUS: Paymob to launch in Oman
INDUSTRY- Heidelberg Materials installs waste heat recovery system at Helwan plant: Germancement manufacturer Heidelberg Materials has set up a waste…
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