{"id":559761,"date":"2021-02-03T04:14:50","date_gmt":"2021-02-03T04:14:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/gcc-firms-are-pouring-into-egypt\/"},"modified":"2021-02-03T04:14:50","modified_gmt":"2021-02-03T04:14:50","slug":"gcc-firms-are-pouring-into-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/gcc-firms-are-pouring-into-egypt\/","title":{"rendered":"GCC firms are pouring into Egypt"},"content":{"rendered":"

<\/a> We\u2019re seeing plenty of interest in Egypt from GCC-based companies<\/strong>, travel ban to KSA notwithstanding.<\/p>\n

Zyda touches down in Egypt:<\/strong> Kuwaiti food tech startup Zyda<\/a> has launched in Egypt, announcing in a statement (pdf)<\/a> yesterday that it will invest USD 2 mn here. The platform offers e-commerce services to restaurants, allowing them to market their business online, track sales analytics, and deliver orders. The company charges restaurants a monthly subscription fee rather than commission on orders, and will operate across the country except in the Red Sea. CEO Hamad Al-Judai described Egypt as a \u201clarge and promising market.\u201d<\/p>\n

The Middle East food market is pretty hot right now:<\/strong> Saudi restaurant management platform Foodics<\/a>, a Zyda competitor so far as we can tell, said earlier this week it had landed USD 20 mn in a series B funding. And here at home, our friends at Elmenus this week landed an undisclosed investment from former Just Eat CEO David Buttress<\/a>, who will join the board of the Egyptian food delivery platform.<\/p>\n

R<\/strong>eal estate developer Sky Abu Dhabi \u2014 which has a very light digital footprint \u2014 is reportedly planning EGP 15 bn in<\/strong> Egypt over the next two years <\/strong>as part of its regional expansion plans, CEO Abdelrahman Agami said at a press conference Tuesday, according to local press<\/a> reports. The company is reportedly a subsidiary of Diamond Group (although it is not listed among the company\u2019s subsidiaries<\/a>). The investment plans include at least EGP 4 bn for a multipurpose development in the new administrative capital, Agami said.<\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019re seeing plenty of interest in Egypt from GCC-based companies, travel ban to KSA notwithstanding. Zyda touches down in Egypt: Kuwaiti food tech startup Zyda has launched in Egypt, announcing in a statement (pdf) yesterday that it will invest USD 2 mn here. The platform offers e-commerce services to restaurants, allowing them to market their […]<\/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":[7272],"tags":[72,564,125,875,83,639],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559761","post","type-post","status-publish","format-standard","hentry","category-investment-watch","tag-enterpriseam","tag-food","tag-investment-watch","tag-new-administrative-capital","tag-real-estate","tag-technology","wpautop","entry"],"acf":{"mongo_id":"02112123-956c-4cd8-b527-1711531fc030","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559753],"teaser":"","voice_url":""},"yoast_head":"\nGCC firms are pouring into Egypt - 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\/2021\/02\/03\/gcc-firms-are-pouring-into-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GCC firms are pouring into Egypt\" \/>\n<meta property=\"og:description\" content=\"We\u2019re seeing plenty of interest in Egypt from GCC-based companies, travel ban to KSA notwithstanding. 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Jumia is bullish on food delivery services in Egypt where there is a gap\u2026","rel":"","context":"In "SPEED ROUND: INVESTMENT WATCH"","block_context":{"text":"SPEED ROUND: INVESTMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/385.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546732,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/26\/lots-of-fresh-investment-in-food-pharma-and-alumium\/","url_meta":{"origin":559761,"position":1},"title":"Lots of fresh investment in food, pharma and alumium","author":"enterpriseam admin","date":"26 May 2022","format":false,"excerpt":"Yesterday was a particularly busy day for mid-sized investment news spanning industries from pharma to food and aluminum. Here\u2019s the rundown:Egypt Otsuka plans USD 30 mn factory: The local unit of Japanese pharma company Otsuka plans to invest USD 30 mn in a new factory to produce nutritional supplements and\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565248,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/takestep-targets-gcc-after-raising-undisclosed-seed-investment\/","url_meta":{"origin":559761,"position":2},"title":"TakeStep targets GCC after raising undisclosed seed investment","author":"enterpriseam admin","date":"29 March 2021","format":false,"excerpt":"Egyptian healthtech startup TakeStep has bagged an undisclosed seed investment from two angel investors including Mohamed Khedr who will join the firm as a managing partner, the company said in a statement (pdf) this morning. The funds will be used to expand TakeStep\u2019s operations into the GCC region in \u201cthe\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559905,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/what-the-markets-are-doing-on-8-february-2021\/","url_meta":{"origin":559761,"position":3},"title":"What the markets are doing on 8 February 2021","author":"enterpriseam admin","date":"8 February 2021","format":false,"excerpt":"Another Wall Street vet just called a bubble: Peter Kraus has warned that the US market may be due a correction, telling Bloomberg TV that stocks could lose 10-15% of their value. 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