{"id":544282,"date":"2022-02-23T13:47:16","date_gmt":"2022-02-23T13:47:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/"},"modified":"2022-02-23T13:47:16","modified_gmt":"2022-02-23T13:47:16","slug":"this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/","title":{"rendered":"THIS EVENING: France\u2019s Amarenco Group to acquire 74% of SolarizEgypt\u2019s portfolio + F&#038;B logistics platform OneOrder raises USD 1 mn"},"content":{"rendered":"<p><strong>Good afternoon, ladies and gentlemen, and welcome to almost-THURSDAY<\/strong>, as we like to call it here at Enterprise. It\u2019s a bit of a mad rush to the weekend here at home and abroad (or, more specifically, in Ukraine), with a flurry of news on both fronts to keep you busy.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><strong>#1- SolarizEgypt, Amarenco Group sign USD 255 mn acquisition + JV agreement:<\/strong> French independent power producer Amarenco Group is acquiring 74% of SolarizEgypt\u2019s portfolio in Egypt and the two companies will set up a joint venture to co-develop 300 MW of solar power projects over the next four years, as per an agreement the two sides signed, according to <a href=\"https:\/\/ent.news\/2022\/2\/PRL-SOLARIZE-AMARENCO-Partnership.docx.pdf\">a statement (pdf)<\/a>.<\/p>\n<p><strong>#2- <\/strong><strong>Newly launched tech-enabled F&B logistics platform OneOrder raised USD 1 mn in a<\/strong><strong> round led by A15<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/2\/OneOrder-English-press-release-23-February-2022.pdf\">press release (pdf)<\/a>. The logistics company aims to solve inefficiencies and fragmentation Egypt\u2019s restaurants face when sourcing supplies by creating a platform that consolidates suppliers and vendors for meat, vegetables, and equipment. Bringing these suppliers together on a single platform is hoped to yield more consistent and transparent prices, reliable quality, and regular delivery times, the release says.<\/p>\n<p><strong>^^We\u2019ll have more<\/strong> on these stories and more in tomorrow\u2019s <strong>EnterpriseAM<\/strong>.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>A <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/816751ef-44a9-41d3-bf8d-94d632ccf80b\">busy day in the House<\/a><\/strong><strong> gives us future flow securitization, new eviction rules:<\/strong> The House of Representatives\u2019 general assembly approved yesterday amendments to the Capital Markets Act that will introduce future flow securitization, as well as amendments to the Old Rent Act that will allow landlords to eventually evict organizations from non-residential properties, and amendments to the Real Estate Registry Act to streamline the real estate registration process.<\/li>\n<li><strong>The EGX <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63677123-025c-45b5-a3a5-a8291f7de242\">launched four new sub-indices<\/a><\/strong><strong> to track the performance of the most actively traded sovereign debt instruments<\/strong> yesterday in a move that paves the way for investment in index-tracking bond funds and other products linked to those gauges.<\/li>\n<li><strong>More clarity from CBE on new import rules:<\/strong> The Central Bank of Egypt has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d8f2db6-5595-4107-bba0-f31b1775ea45\">responded in a document<\/a> to queries from importers on its recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">issued<\/a> rules requiring them to get letters of credit (L\/Cs) for their purchases instead of the common practice of documentary collection<\/li>\n<\/ul>\n<p><strong>HAPPENING NOW-<\/strong><\/p>\n<p><strong>Two Egyptian startups are pitching their businesses to leading tech investors <\/strong><strong>at the pan-African <\/strong><strong><a href=\"https:\/\/www.africatechsummit.com\/nairobi\/\">Africa Tech Summit<\/a><\/strong><strong> in Nairobi<\/strong>, which kicks off today. Blockchain-based communications platform <a href=\"https:\/\/pravica.io\/\">Pravica<\/a> and agritech startup <a href=\"https:\/\/vais.ai\/\">Visual and AI Solutions<\/a> (VAIS) are among the nine startups that have been selected for the two-day event, which will bring together African startups, VC and private equity investors, lenders, and global tech leaders.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>The conversation on Ukraine today is focused largely on the impact (or lack thereof) of<\/strong><strong> the US and UK sanctions against Russia<\/strong>, which are being criticized for being limited in scope. Markets largely shrugged off the sanctions \u2014 billed as the \u201cfirst tranche\u201d of the West\u2019s punitive measures against Moscow \u2014 as they broadly fell short of the swift and significant steps Washington and London have been vowing to take, <a href=\"https:\/\/edition.cnn.com\/2022\/02\/23\/politics\/donald-trump-vladimir-putin-joe-biden\/index.html\">Bloomberg<\/a> reports. The sanctions are also <a href=\"https:\/\/archiv.hn.cz\/c1-67036820-zapad-se-dohodl-na-sankcich-proti-rusku-nemecko-zastavuje-nord-stream-2\">under fire<\/a> for not being directed at Russian President Vladimir Putin himself.<\/p>\n<p><strong>The EU could follow up with harsher measures, with ministers scheduled to sign off on the sanctions<\/strong> just minutes after we hit \u201csend\u201d on this afternoon\u2019s edition, <a href=\"https:\/\/www.theguardian.com\/world\/2022\/feb\/23\/eu-poised-to-announce-wide-ranging-sanctions-on-russia-over-ukraine\">the Guardian<\/a> reports.<\/p>\n<p><strong>On the other side of the equation, monetary support for Ukraine is being lined up:<\/strong> The UK rolled out a USD 500 mn loan program for Ukraine to \u201chelp mitigate economic impacts on Ukraine\u2019s economy due to Russia\u2019s aggression,\u201d according to a <a href=\"https:\/\/www.gov.uk\/government\/news\/uk-sets-out-new-multi-million-dollar-economic-package-of-support-for-ukraine\">Foreign, Commonwealth and Development Office statement<\/a>. Meanwhile, the IMF is starting a new review of Ukraine\u2019s USD 5 bn program, as Kyiv looks to unlock a fresh USD 700 mn tranche, according to <a href=\"https:\/\/www.reuters.com\/business\/imf-starts-discussions-ukraine-next-tranche-disbursement-2022-02-23\/\">Reuters<\/a>.<\/p>\n<p><strong>This comes as Ukraine decided to impose a state of emergency for 30 days<\/strong>, which can be extended for another 30 days, <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-impose-state-emergency-says-top-security-official-2022-02-23\/\">Reuters<\/a> reports. Kyiv also ordered its citizens in Russia to leave the country immediately, before the Ukrainian parliament agreed to impose sanctions on hundreds of Russian MPs, including those who had voted in favor of Russia\u2019s decision to recognize the independence of separatist-held areas in Ukraine, according to <a href=\"https:\/\/www.cnbc.com\/2022\/02\/23\/putin-says-russia-open-to-diplomacy-as-moscow-hit-with-fresh-sanctions.html\">CNBC<\/a>.<\/p>\n<p><strong>Meanwhile, surprisingly not in a parallel universe:<\/strong> Former US President Donald Trump is siding with\u2026 Russia, calling Moscow\u2019s decision to send troops into two separatist regions of Ukraine \u201cgenius,\u201d according to this highly editorialized analysis piece from <a href=\"https:\/\/edition.cnn.com\/2022\/02\/23\/politics\/donald-trump-vladimir-putin-joe-biden\/index.html\">CNN<\/a>.<\/p>\n<p><strong>Egypt is currently assessing just how much the unfolding crisis is going to affect us<\/strong>, with a meeting scheduled for later today to discuss the matter in depth, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/344830094354084\">Prime Minister Moustafa Madbouly said<\/a>, without providing further details.<\/p>\n<p><strong>It\u2019s looking to us like a good news \/ bad news toss-up for Egypt:<\/strong> On the one hand, Ukraine and Russia are two of our main suppliers of wheat, leading state grain buyer GASC to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a38a8f80-51ed-4cc9-83ab-64e4d1ea633c\">lock in an April shipment of wheat<\/a> from Romania despite it being pricier than Ukrainian wheat on offer. On the potentially good news side of things, Egypt could have a chance to export more natural gas to Europe, as Greece is looking for an alternative to Russia, which presently supplies nearly half of Greece\u2019s natural gas needs, <a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2UX6QW\">Reuters<\/a> reports. Azerbaijan, Egypt, Algeria, and Nigeria are among the markets Greece is currently looking at as alternatives to Russia, the newswire reports, citing sources it says have knowledge of the matter.<\/p>\n<p><strong>The crisis is also having an impact on sports, as Russia could be stripped of hosting the UEFA Champions<\/strong><strong> League final<\/strong> \u2014 club football\u2019s most prestigious match \u2014 if UK Prime Minister Boris Johnson gets his way. In an address to UK Parliament yesterday, Johnson called on UEFA to take the final match elsewhere as part of a basket of punitive measures and sanctions against Russia for its recognition of two self-proclaimed republics in Ukraine, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-22\/u-k-sanctions-russian-billionaires-and-banks-u-s-hit-years-ago\">Bloomberg<\/a> reports. The match is set to be played in St Petersburg\u2019s Gazprom Arena on 28 May.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>ARE YOU BUILDING A FINTECH STARTUP?<\/strong> You might want to apply for Visa\u2019s global startup competition, the <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html\">Visa Everywhere Initiative<\/a>, the payments firm said in <a href=\"https:\/\/ent.news\/2022\/2\/CBE-VEI-PRL-EN-FINAL.pdf\">a statement (pdf)<\/a> yesterday. In collaboration with the Central Bank of Egypt\u2019s new Fintech Egypt project, the local contest will see Egyptian fintech players go head-to-head for a monetary award and the chance to advance to the regional and global finals. On offer: EGP 500k for the first-place finisher and a place in the Central and Eastern Europe, Middle East and Africa (CEMEA) regional finals in June.<\/p>\n<p><strong>What you need to know:<\/strong> A full breakdown on the entry criteria, the application process, and the schedule is available online <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html#How_to_participate_a72e\">here<\/a>. <strong>The deadline for applications in Egypt is 20 March<\/strong>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Our short-lived reprieve from the cold isn\u2019t going to last very long, with the mercury set to reach 19\u00b0C during the day tomorrow and 11\u00b0C at night, our favorite weather app tells us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen, and welcome to almost-THURSDAY, as we like to call it here at Enterprise. It\u2019s a bit of a mad rush to the weekend here at home and abroad (or, more specifically, in Ukraine), with a flurry of news on both fronts to keep you busy. THE BIG STORY TODAY #1- [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[1190,633,7128,151,1064,95,239,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544282","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-amarenco-group","tag-enterprisepm","tag-ma-watch","tag-renewables","tag-solarizegypt","tag-startup-watch","tag-supply-chain","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"882ba290-5151-4ead-9cbd-fa14c01e397f","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[544280],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: France\u2019s Amarenco Group to acquire 74% of SolarizEgypt\u2019s portfolio + F&amp;B logistics platform OneOrder raises USD 1 mn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: France\u2019s Amarenco Group to acquire 74% of SolarizEgypt\u2019s portfolio + F&amp;B logistics platform OneOrder raises USD 1 mn\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen, and welcome to almost-THURSDAY, as we like to call it here at Enterprise. 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It\u2019s a bit of a mad rush to the weekend here at home and abroad (or, more specifically, in Ukraine), with a flurry of news on both fronts to keep you busy. THE BIG STORY TODAY #1- [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-02-23T13:47:16+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS EVENING: France\u2019s Amarenco Group to acquire 74% of SolarizEgypt\u2019s portfolio + F&#038;B logistics platform OneOrder raises USD 1 mn","datePublished":"2022-02-23T13:47:16+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/"},"wordCount":1228,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["Amarenco Group","EnterprisePM","M&amp;A Watch","renewables","SolarizEgypt","Startup watch","supply chain","WHAT WE\u2019RE TRACKING TONIGHT"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/","name":"THIS EVENING: France\u2019s Amarenco Group to acquire 74% of SolarizEgypt\u2019s portfolio + F&B logistics platform OneOrder raises USD 1 mn - 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The second phase of the project will bring the solar\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600091,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/20\/arabian-cement-solarizegypt-sign-egp-100-mn-solar-power-plant-agreement\/","url_meta":{"origin":544282,"position":3},"title":"Arabian Cement, SolarizEgypt sign EGP 100 mn solar power plant agreement","author":"enterpriseam admin","date":"20 January 2019","format":false,"excerpt":"Arabian Cement signs agreement with SolarizEgypt for EGP 100 mn solar facility: Arabian Cement Company (ACC) and SolarizEgypt signed on Wednesday a EGP 100 mn agreement to set up a solar power plant at ACC\u2019s cement plant in Suez, according to an emailed statement (pdf). The solar power installation will\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545440,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/meet-our-founder-of-the-week-solarizegypts-yaseen-abdel-ghaffar\/","url_meta":{"origin":544282,"position":4},"title":"Meet our founder of the week: SolarizEgypt\u2019s Yaseen Abdel-Ghaffar","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"OUR FOUNDER OF THE WEEK- Yaseen Abdel Ghaffar, founder and managing director of SolarizEgypt (LinkedIn).I always knew I wanted to start a business of my own, but I had to find a real problem to solve and had to acquire a specific skill set first. My time working as a\u2026","rel":"","context":"In &quot;Founder of the Week&quot;","block_context":{"text":"Founder of the Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/founder-of-the-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/746.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585898,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/01\/this-evening-are-sidpec-and-abu-qir-joining-the-privatization-program\/","url_meta":{"origin":544282,"position":5},"title":"THIS EVENING: Are Sidpec and Abu Qir joining the privatization program?","author":"enterpriseam admin","date":"1 May 2023","format":false,"excerpt":"Good afternoon, ladies and gentlemen. It\u2019s a relatively brisk day here in Omm El Donia, with a little bit of everything keeping us busy during this shortened workweek.THE BIG STORIES TODAY #1- Sidpec + Abu Qir Fertilizers to join the privatization list with secondary offerings? 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