{"id":615471,"date":"2024-02-19T00:00:00","date_gmt":"2024-02-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/19\/ekh-wants-in-on-the-states-privatization-program-plus-sawari-ventures-usd-150-mn-fund-evolve-gold-investment-fund-fincart-ksa-hq-tamar-ups-production-marakez-loan\/"},"modified":"2024-02-19T00:00:00","modified_gmt":"2024-02-19T00:00:00","slug":"ekh-wants-in-on-the-states-privatization-program-plus-sawari-ventures-usd-150-mn-fund-evolve-gold-investment-fund-fincart-ksa-hq-tamar-ups-production-marakez-loan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/19\/ekh-wants-in-on-the-states-privatization-program-plus-sawari-ventures-usd-150-mn-fund-evolve-gold-investment-fund-fincart-ksa-hq-tamar-ups-production-marakez-loan\/","title":{"rendered":"EKH wants in on the state\u2019s privatization program. PLUS: Sawari Ventures USD 150 mn fund, Evolve gold investment fund, Fincart KSA HQ, Tamar ups production, Marakez loan"},"content":{"rendered":"<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- EKH may be interested in getting in on the state\u2019s privatization program: <\/strong>Our friends at EGX-listed investment company Egypt Kuwait Holding (EKH) have taken an interest in and are open to investing in stakes in companies being offered up by the state asset sale program, EKH chairman Loay Jassim Al Kharafi told Prime Minister Mostafa Madbouly yesterday, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02n7KtVsx7UP2y7VfpQc8YQueEiXbhEWDvjeCcpUxZcbjVaxLvfuhaH1dHcx4mPrzGl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all: <\/strong>EKH wants to set up electricity distribution stations under build-own-transfer agreements with the government. The investment company also has its eyes set on completing work on its hotel project in Arish and other touristic investments in the city. EKH is also gearing up to soon run trial operations at a new USD 120 mn factory for producing MDF wood.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- SEII to invest USD 20 mn in Egypt this year:<\/strong><a target=\"_blank\" href=\"https:\/\/seii.com.eg\/\" style=\"\" rel=\"noopener\">Saudi Egyptian Industrial Investment<\/a> (SEII) is set to invest some USD 20 mn into Egypt\u2019s market this year, with a particular focus on industrial projects, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/02\/18\/1767114\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing company CEO Ahmed Ata. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> STARTUPS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Sawari Ventures looks to invest USD 150 mn in local startups:<\/strong> Cairo-based venture capital firm <a target=\"_blank\" href=\"https:\/\/sawariventures.com\/\" style=\"\" rel=\"noopener\">Sawari Ventures<\/a> is setting up a new USD 150 mn fund for Egyptian startups, the company\u2019s managing partner Hany Al Sonbaty told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/37cj7k64\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>. The fund will be primarily interested in investing in fintech, edtech, and healthtec companies, Al Sonbaty added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Finc<\/strong><strong>art to open up regional HQ in KSA: <\/strong>Local shipping and financing solutionsprovider <a target=\"_blank\" href=\"https:\/\/fincart.io\/\" style=\"\" rel=\"noopener\">Fincart<\/a> plans to open its regional headquarters in Saudi Arabia during the second quarter of the year, CEO Mostafa Masry told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/44nv7mta\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The startup also aims to launch operations throughout the whole of GCC by 2025 and in Morocco, Kenya, and Ethiopia later down the line, Masry said. The startup will soon close a funding round, which will be spent on improving its tech infrastructure and marketing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fincart? <\/strong>The startup connects small businesses with local and international shipping companies, helping them scale up operations and has plans to work with fintech firms and banks to provide financing to small and micro enterprises.<\/p>\n<p class=\"tag-border-left\"> CAPITAL MARKETS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another gold investment fund from Evolve? <\/strong>Evolve Investment Holding wants tolaunch another gold investment fund during the first half of the year, CEO Sameh El Torgoman told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1759155234532630552?s=20\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company launched the country\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/373fda24-6907-4c8b-bb56-623da5e5a367\" style=\"\" rel=\"noopener\">first gold fund<\/a> with Azimut in May 2023 and launched another \u2014 dubbed Beltone Evolve Gold \u2014 with Beltone Securities Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc6a409f-edea-4ac4-ae40-a12a4d621c23\" style=\"\" rel=\"noopener\">last month<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tamar gas field to expand production 60%:<\/strong> Chevron\u2019s Tamar gas field in Israel \u2014 which also supplies gas to Egypt and Jordan \u2014 will increase daily production to o 1.6 bn cubic feet per day, from a current 1 bn cubic feet per day, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/partners-israels-tamar-gas-field-agree-further-expand-production-2024-02-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing the American oil and gas giant. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Marakez\u2019s <\/strong><strong>District 5 is getting a EGP 1.2 bn loan from NBE and Banque Misr:<\/strong> Fawaz Alhokair Group\u2019s real estate and mall developer subsidiary <a target=\"_blank\" href=\"https:\/\/marakez.net\/\" style=\"\" rel=\"noopener\">Marakez<\/a> is seeking a long-term, syndicated loan of EGP 1.2 bn from the National Bank of Egypt and Banque Misr to fund its New Cairo project District 5, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2dhnxw94\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported, citing sources it says are in the know. The loan agreement is expected to be signed in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shalateen\u2019s gold deliveries to the central bank up 14% in 2023: <\/strong>The state-owned Shalateen Mineral Resources Company has delivered 720 kg of gold \u2014 worth EGP 1.3 bn (USD 42 mn) \u2014 to the Central Bank of Egypt in 2023, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4u9776y8\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported, citing an anonymous government source. The 14% y-o-y increase is below half of the targeted 32% increase to 830 kg announced by the company\u2019s chairman in July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The company now targets to boost its 2024 deliveries by around 40% to reach 1 ton of gold, the source added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EKH also wants to set up electricity distribution stations under build-own-transfer agreements with the government<\/p>\n","protected":false},"author":1,"featured_media":615472,"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":[111,780,317,7106,1668,72,544,4901,8384,7093,131,895,91,83,219,444,6993,7114],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-615471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-chevron","tag-commodities","tag-debt","tag-egypt-kuwait-holding","tag-enterpriseam","tag-evolve-investment-holding","tag-fawaz-alhokair-group","tag-fincart","tag-gold","tag-manufacturing","tag-marakez","tag-oil-and-gas","tag-real-estate","tag-saudi-arabia","tag-sawari-ventures","tag-shalateen-mineral-resources","tag-tamar","wpautop","entry"],"acf":{"mongo_id":"8eba25dd-53e9-4273-bd8e-6e1afb5b2f99","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1176.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EKH wants in on the state\u2019s privatization program. PLUS: Sawari Ventures USD 150 mn fund, Evolve gold investment fund, Fincart KSA HQ, Tamar ups production, Marakez loan","related_issue":[615455],"teaser":"EKH also wants to set up electricity distribution stations under build-own-transfer agreements with the government","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.3721c045-2374-49ef-8e6f-aa077813161c.mp3"},"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>EKH wants in on the state\u2019s privatization program. PLUS: Sawari Ventures USD 150 mn fund, Evolve gold investment fund, Fincart KSA HQ, Tamar ups production, Marakez loan - 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\/2024\/02\/19\/ekh-wants-in-on-the-states-privatization-program-plus-sawari-ventures-usd-150-mn-fund-evolve-gold-investment-fund-fincart-ksa-hq-tamar-ups-production-marakez-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EKH wants in on the state\u2019s privatization program. 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The company is investing EGP 2 bn in a compressed wood plant in Beni Suef, which will be built over\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":632859,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/21\/ekh-expands-its-natural-gas-investments\/","url_meta":{"origin":615471,"position":1},"title":"EKH expands its natural gas investments","author":"enterpriseam admin","date":"21 February 2018","format":false,"excerpt":"INVESTMENT WATCH- EKH expands its natural gas holdings: Egyptian Kuwait Holding (EKH) announced that it has raised its stake in NSCO Investments Limited, which owns an offshore gas field in Northern Sinai, through a subsidiary. The EKH unit paid USD 20 mn to raise its stake in NSCO to 99.99%\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":632749,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/earnings-watch-ekh-reports-fy2017-results\/","url_meta":{"origin":615471,"position":2},"title":"Earnings watch: EKH reports FY2017 results","author":"enterpriseam admin","date":"19 February 2018","format":false,"excerpt":"EARNINGS WATCH- Our friends at Egypt Kuwait Holding (EKH) reported double-digit revenue growth in FY2017. The company posted net income of USD 138.2 mn, up from USD 69.8 mn in FY2016, on revenues of USD 413.7 mn, up from USD 351.2 mn the previous year, it said in a statement\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":624444,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/ekh-looking-for-loan-to-help-fund-egp-2-1-bn-fiberboard-factory\/","url_meta":{"origin":615471,"position":3},"title":"EKH looking for loan to help fund EGP 2.1 bn fiberboard factory","author":"enterpriseam admin","date":"9 September 2018","format":false,"excerpt":"Egypt Kuwait Holding (EKH) is looking for a loan to partially fund the EGP 2.1 bn medium-density fiberboard (MDF) factory in Beni Suef, Investor Relations Director Haitham Abdel Moneim tells Al Mal. EKH is in talks with foreign and local lenders for the loan. A financing structure for the project\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624320,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/05\/ekh-breaks-ground-on-egp-2-1-bn-fiberboard-factory-in-beni-suef\/","url_meta":{"origin":615471,"position":4},"title":"EKH breaks ground on EGP 2.1 bn fiberboard factory in Beni Suef","author":"enterpriseam admin","date":"5 September 2018","format":false,"excerpt":"INVESTMENT WATCH- EKH breaks ground on EGP 2.1 bn fiberboard factory in Beni Suef: Egypt Kuwait Holding (EKH) has begun constructing a EGP 2.1 bn medium-density fiberboard (MDF) factory in Beni Suef, the company said in a statement to the EGX (pdf). The 30,000 sqm factory will be constructed over\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":558725,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/24\/ekh-plans-five-year-usd-500-mn-investment-drive\/","url_meta":{"origin":615471,"position":5},"title":"EKH plans five year, USD 500 mn investment drive","author":"enterpriseam admin","date":"24 August 2021","format":false,"excerpt":"Egypt Kuwait Holding (EKH) plans to invest a total of USD 500 mn over the next five years. The investment company \u2014 which is dual-listed on the Egyptian and Kuwaiti stock exchanges \u2014 is looking to deploy USD 100 mn annually starting 2022 across at least six verticals, CEO Sherif\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/242.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/615471","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=615471"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/615471\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/615455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/615472"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=615471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=615471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=615471"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=615471"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=615471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}