{"id":618986,"date":"2024-04-23T00:00:00","date_gmt":"2024-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b\/"},"modified":"2024-04-23T00:00:00","modified_gmt":"2024-04-23T00:00:00","slug":"germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b\/","title":{"rendered":"Germany\u2019s Smart Automobile teams up with Ezz El Arab Group for Egypt EV venture. PLUS: BPE Partners gears up for acquisitions, an oil freezone with the UAE in the works, eKhalas team up with Balad"},"content":{"rendered":"

AUTOMOTIVE-<\/p>\n

Smart EVs to hit the market this year: <\/strong>German EV company Smart Automobile<\/a>, a joint venture between Mercedes-Benz and Geely, has partnered with Ezz Elarab Group subsidiary Ezz Elarab Star to bring its electric vehicles to the local market in 3Q 2024, the EV firm said in a statement (<\/a>pdf<\/a>)<\/a>. As the company\u2019s distribution partner for the country, Ezz Elarab Star plans to launch sales and aftersales stores at two locations in Greater Cairo.<\/p>\n

M&A-<\/p>\n

More acquisitions in BPE\u2019s future:<\/strong> Private equity firm BPE Partners is studying several acquisitions in the healthcare and payments sectors, co-founder Aladdin Saba told Asharq Business<\/a>. The firm is also looking to exit two of its portfolio companies, he added without identifying the companies. <\/p>\n

Regional expansion on the horizon:<\/strong> The firm wants to step foot into a number of Arab markets over \u201cthe coming period,\u201d he added.<\/p>\n

INVESTMENT- <\/p>\n

Could we see a new freez<\/strong>one for oil production in cooperation with the UAE?<\/strong> Prime Minister Mostafa Madbouly is in early-stage talks to sign a preliminary agreement with the UAE\u2019s Fujairah emirate and Abu Dhabi-based petrochemicals firm Borouge<\/a> to set up a freezone focused on the production, storage, and trade of oil and its derivatives, according to a cabinet statement<\/a>. <\/p>\n

FINTECH-<\/p>\n

eKhales, Balad launch payment solution for expats: <\/strong>e-Finance\u2019s digital payments arm eKhales has teamed up with local fintech startup Balad<\/a> to introduce a new bill payment platform to serve Egyptian expats in more than 60 countries, according to a press release (pdf)<\/a>. The platform will allow expats to pay bills, tuition fees, or installments at home from outside the country. <\/p>\n","protected":false},"excerpt":{"rendered":"

The German EV maker wants to bring its electric vehicles to the local market in 3Q 2024<\/p>\n","protected":false},"author":1,"featured_media":618987,"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":[111,144,2515,72,183,125,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-bpe-partners","tag-enterpriseam","tag-fintech","tag-investment-watch","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"ad451fb1-9909-41ce-be23-9132ac4f2722","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1636.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Germany\u2019s Smart Automobile teams up with Ezz El Arab Group for Egypt EV venture. 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