{"id":578449,"date":"2022-12-28T04:00:07","date_gmt":"2022-12-28T04:00:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/28\/classera-plans-egypt-expansion\/"},"modified":"2022-12-28T04:00:07","modified_gmt":"2022-12-28T04:00:07","slug":"classera-plans-egypt-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/28\/classera-plans-egypt-expansion\/","title":{"rendered":"Classera plans Egypt expansion"},"content":{"rendered":"

COMMODITIES-<\/strong><\/p>\n

State grain buyer GASC reportedly purchased 80k tons of Russian wheat <\/strong>at USD 339 per ton for shipment in the first half of February on a cost and freight basis, traders told Reuters<\/a>.<\/p>\n

It\u2019s not final: <\/strong>Some traders believe that the purchase may require the World Bank\u2019s approval seeing as it will be paying for it as part of the USD 500 mn<\/a> it is lending us to boost our food security, USD 350 mn of which are going directly into the GASC\u2019s pocket for wheat purchases.<\/p>\n

More purchases to come: <\/strong>GASC will reportedly finalize three more purchases from the same supplier over the coming few days.<\/p>\n

INVESTMENT-<\/strong><\/p>\n

Egyptian agri e-commerce player gets Emirati investment:<\/strong> Emirates International<\/a>Investment Company<\/a> (EIIC), National Holding\u2019s investment arm, has invested in B2B fresh produce player Mahaseel Masr<\/a> to expand its agri e-commerce platform, according to a<\/a>p<\/a>ress<\/a><\/a>release (pdf)<\/a>. The investment will allow Masaheel to expand geographically and to introduce technological and financial value added services. The statement didn\u2019t provide any information about the investment, including whether EIIC has acquired equity in the company.<\/p>\n

NBFS-<\/strong><\/p>\n

Contact Financial is getting into green finance:<\/strong> Non-banking financial services outfit Contact Financial Holding has launched a new product providing finance targeted at eco-friendly and sustainable projects, it said in a statement (pdf)<\/a> yesterday. Its \u201cGreen Finance\u201d' installment service offers repayment plans of up to five years with no down payment.<\/p>\n

Eligible for finance:<\/strong> Solar panels, irrigation systems, greenhouses, fishery ponds, and poultry and livestock farms, among others, the statement reads.<\/p>\n

REGULATION-<\/strong><\/p>\n

The government has amended Egyptian Accounting Standards (EAS) <\/strong>in response to the flexible EGP rate adopted earlier this year and its impact on company earnings, according to a decree published in the Official Gazette yesterday.<\/p>\n

STARTUPS-<\/strong><\/p>\n

Classera eyes expansion in Egypt:<\/strong> US-based MENA-focused e-learning startup Classera plans to up its investments in Egypt and add new learning and training services to its existing portfolio, it said in a statem<\/a>ent (pd<\/a>f)<\/a> yesterday, without disclosing how much it plans to invest. The move comes weeks after the company secured USD 40 mn<\/a> in a series A funding.<\/p>\n","protected":false},"excerpt":{"rendered":"

COMMODITIES- State grain buyer GASC reportedly purchased 80k tons of Russian wheat at USD 339 per ton for shipment in the first half of February on a cost and freight basis, traders told Reuters. It\u2019s not final: Some traders believe that the purchase may require the World Bank\u2019s approval seeing as it will be paying […]<\/p>\n","protected":false},"author":1,"featured_media":578450,"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":[7209],"tags":[97,111,6486,317,933,10534,73,6487,72,550,246,6488,595,871,95,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-agriculture","tag-also-on-our-radar","tag-classera","tag-commodities","tag-contact-financial","tag-eas","tag-education","tag-emirates-international-investment-company","tag-enterpriseam","tag-gasc","tag-green-economy","tag-mahaseel-masr","tag-non-banking-financial-services","tag-regulation-watch","tag-startup-watch","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"ecfdefea-bfa4-45b9-ad11-7d8d298aa805","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/587.jpg","photo_position":"above","related_issue":[578422],"teaser":"","voice_url":""},"yoast_head":"\nClassera plans Egypt expansion - 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\/12\/28\/classera-plans-egypt-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Classera plans Egypt expansion\" \/>\n<meta property=\"og:description\" content=\"COMMODITIES- State grain buyer GASC reportedly purchased 80k tons of Russian wheat at USD 339 per ton for shipment in the first half of February on a cost and freight basis, traders told Reuters. 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State grains buyer GASC paid USD 416 a ton on a cost and freight basis (CFR), they said.The breakdown: GASC reportedly bought 214k tons of Russian wheat, 170k tons of\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/139.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578635,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/09\/a-fresh-gasc-tender-for-wheat-backed-by-the-world-bank\/","url_meta":{"origin":578449,"position":1},"title":"A fresh GASC tender for wheat, backed by the World Bank","author":"enterpriseam admin","date":"9 January 2023","format":false,"excerpt":"GASC puts out a fresh international wheat tender: State grain buyer GASC has launched an international tender to purchase 30k-60k tons of wheat on a cost and freight basis for February delivery, according to a GASC statement. Traders need to submit their bids directly to GASC by midday tomorrow.Thanks, World\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/114.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628908,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/16\/gasc-purchases-60k-tonnes-of-ukrainian-wheat\/","url_meta":{"origin":578449,"position":2},"title":"GASC purchases 60k tonnes of Ukrainian wheat","author":"enterpriseam admin","date":"16 May 2018","format":false,"excerpt":"The General Authority for Supply Commodities (GASC) purchased 60k tonnes of Ukrainian wheat in an international tender yesterday that attracted only four bids, Reuters\u2019 Arabic service reports. GASC purchased the wheat from Louis Dreyfus at USD 219.9 per tonne free-on-board, traders tell the newswire. Egypt issuing a wheat tender at\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587446,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/28\/gasc-defers-wheat-payments-amid-fx-crunch-supply-minister-traders\/","url_meta":{"origin":578449,"position":3},"title":"GASC defers wheat payments amid FX crunch: supply minister, traders","author":"enterpriseam admin","date":"28 May 2023","format":false,"excerpt":"As many as 11 wheat cargoes are awaiting payment, according to traders","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1455.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626068,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/29\/gasc-purchases-350k-tonnes-of-russian-ukrainian-wheat-for-october-delivery\/","url_meta":{"origin":578449,"position":4},"title":"GASC purchases 350k tonnes of Russian, Ukrainian wheat for October delivery","author":"enterpriseam admin","date":"29 August 2018","format":false,"excerpt":"The General Authority for Supply Commodities (GASC) purchased 350k tonnes of Russian and Ukrainian wheat in an international tender yesterday, Reuters\u2019 Arabic service reports. GASC reportedly paid an average USD 241.31 per tonne, sources told Agri Census (paywall). The bill is 4% lower than the record USD 250 per tonne\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622616,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/08\/gasc-purchases-180k-tonnes-of-russian-wheat\/","url_meta":{"origin":578449,"position":5},"title":"GASC purchases 180k tonnes of Russian wheat","author":"enterpriseam admin","date":"8 October 2018","format":false,"excerpt":"The General Authority for Supply Commodities (GASC) purchased 180k tonnes of Russian wheat in an international tender on Thursday, according to Reuters\u2019 Arabic service. Traders tell Reuters that the lowest offer GASC received in the tender was USD 233.95 per tonne FOB from Daewoo. The wheat is scheduled for delivery\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=578449"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578449\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578450"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578449"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578449"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}