{"id":619658,"date":"2024-05-08T00:00:00","date_gmt":"2024-05-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/08\/beltone-inks-strategic-partnership-with-the-uaes-comera-to-develop-payment-financing-products-plus-thames-freeport-gorilla-technology-industry-fund-belmazad-fawry\/"},"modified":"2024-05-08T00:00:00","modified_gmt":"2024-05-08T00:00:00","slug":"beltone-inks-strategic-partnership-with-the-uaes-comera-to-develop-payment-financing-products-plus-thames-freeport-gorilla-technology-industry-fund-belmazad-fawry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/08\/beltone-inks-strategic-partnership-with-the-uaes-comera-to-develop-payment-financing-products-plus-thames-freeport-gorilla-technology-industry-fund-belmazad-fawry\/","title":{"rendered":"Beltone inks strategic partnership with the UAE\u2019s Comera to develop payment, financing products. PLUS: Thames Freeport + Gorilla Technology, industry fund, Belmazad, Fawry"},"content":{"rendered":"<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1-<\/strong><strong>Beltone + Comera<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.beltoneholding.com\/\" style=\"\" rel=\"noopener\">Beltone Holding<\/a> and Abu Dhabi-based tech company <a target=\"_blank\" href=\"https:\/\/mycomera.com\/\" style=\"\" rel=\"noopener\">Comera<\/a><a target=\"_blank\" href=\"https:\/\/mycomera.com\/\" style=\"\" rel=\"noopener\">Financial Holding<\/a> have inked a strategic partnership to work together to launch payment, consumer finance, SME finance, and supply chain finance solutions in Egypt and other countries in the MENA region, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/492.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>&nbsp;by Beltone released today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Comera? <\/strong>Comera Financial Holding runs a video call and messaging application called Comera that offers end-to-end encryption, file sharing, and conference calls with up to 50 people.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis collaboration represents a pivotal step forward in our commitment to enhancing digital access and improving financial services for our customers. Together, we aim to set new standards in efficiency and customer satisfaction, driving significant growth and sustainable development in our markets,\u201d said Beltone Holding CEO Dalia Khorshid.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Fawry eyes Saudi expansion:<\/strong> EGX-listed fintech giant Fawry is holding preliminary talks with six Saudi companies over a potential partnership, as the firm looks to expand into the kingdom, Fawry CEO Ashraf Sabry told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1787808764847915505\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company also held talks with companies in the UAE and Kuwait, Sabry adds. <\/p>\n<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- Thames Freeport, Gorilla Technology to set up USD 100 mn innovation center:&nbsp;<\/strong>The UK\u2019s <a target=\"_blank\" href=\"https:\/\/thamesfreeport.com\/\" style=\"\" rel=\"noopener\">Thames Freeport<\/a> is gearing up to set up a USD 100 mn innovation center in Egypt in partnership with British data analytics firm <a target=\"_blank\" href=\"https:\/\/www.gorilla-technology.com\/\" style=\"\" rel=\"noopener\">Gorilla Technology,<\/a> Thames Freeport CEO Martin Whiteley told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/05\/07\/1789770\" style=\"\" rel=\"noopener\">Al Borsa<\/a> on the sidelines of a British Embassy <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/gorilla-technology-group_gorillatechnology-grrr-suezcanaleconomiczone-activity-7188492994809888768-ayFB\/\" style=\"\" rel=\"noopener\">event<\/a> two weeks ago. Thames Freeport is working with the Defense Ministry to kickstart the project, which will span 10-15 years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Gorilla Technology <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33e9d3bf-8468-4f46-a38f-4e4ab0370bee\/east-port-said-expansion-gets-thumbs-up-from-house-committee\" style=\"\" rel=\"noopener\">signed<\/a> a three-year, USD 270 mn contract with the government last year to roll out a new cybersecurity system to enable \u201cbetter decision-making, proactive threat detection, and quick response to emerging risks.\u201d<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The country\u2019s <\/strong><strong>first<\/strong><strong> industrial fund to go live this month?<\/strong> Cairo Financial Holding\u2019s brokerage arm <a target=\"_blank\" href=\"https:\/\/www.cf-holding.com\/Ccs.aspx\" style=\"\" rel=\"noopener\">Cairo Capital Securities<\/a> (CCS) and the <a target=\"_blank\" href=\"https:\/\/ebda.com.eg\/en\" style=\"\" rel=\"noopener\">National Initiative for Developing Egyptian Industry (Ebda)<\/a> plan to launch the country\u2019s first specialized industrial investment fund this month, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/05\/06\/1789407\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing CCS Head of Research Shady Sharaf. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the fund:<\/strong> The Nile Fund for Industrial Investment \u2014 which was <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ebdaaindustrialinitiative\/posts\/pfbid0CMEayHUYbTdSevyTfJokKS2UntbATyKH4FYDUShwJCG2S2Zq4Q2Qhbz1i46YhjvUl\" style=\"\" rel=\"noopener\">unveiled<\/a> by Ebda and CCS <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/cairo-capital-securities_%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D9%84%D9%82-%D8%A3%D9%88%D9%84-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%B5%D9%86%D8%A7%D8%B9%D9%8A-%D9%84%D8%AA%D9%82%D9%84%D9%8A%D9%84-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-activity-7192157802058989568-DVKd\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">last week<\/a> \u2014 aims to invest in all industrial sectors to ramp up exports and lower the country\u2019s import bill. The fund will be launched on the EGX with an initial value of EGP 2.5 bn and a lifespan of 5-7 years.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Banque Misr invests in real estate auction platform Belmazad: <\/strong>Banque Misr has announced the signing a strategic partnership with Egyptian property auction platform <a target=\"_blank\" href=\"https:\/\/belmazad.com\/\" style=\"\" rel=\"noopener\">Belmazad<\/a>, which will see it carry out a \u201csignificant investment\u201d in the company, Banque Misr said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/454.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/454.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The statement did not disclose the size or terms of the investment.<\/p>\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>Foreign companies owed at least USD 450 mn in receivables from the Electricity<\/strong><strong> Ministry: <\/strong>The Electricity Ministry\u2019s debts to foreign energy firms amounted to USD 450 mn by the end of March, with Siemens and General Electric being owed the most in receivables, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63458\/%D9%85%D8%B3%D8%AA%D8%AD%D9%82%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D8%AC%D9%86%D8%A8%D9%8A%D8%A9-%D9%84%D8%AF%D9%89-%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%A8%D9%84%D8%BA-450-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing unnamed government officials. The Electricity Ministry is reportedly in talks with the Central Bank of Egypt to secure the necessary USD to pay off its debts. <\/p>\n<p class=\"tag-border-left\">TAXATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tax Authority\u2019s e-invoicing is getting tighter starting August:<\/strong> The minimum value of e-invoicing tax bills that include the buyer\u2019s national ID number will be reduced to EGP 25k starting next August, down from EGP 50k currently, Tax Authority head Rasha Abdel Aal said in a <a target=\"_blank\" href=\"https:\/\/www.eta.gov.eg\/ar\/news\/tkhfyd-alhd-aladny-lqymt-alfatwrt-alalktrwnyt-allazm-ladarj-byanat-alrqm-alqwmy-llmshtry\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Melee, Adeer to launch social sports management JV in KSA:&nbsp;<\/strong>Local development company <a target=\"_blank\" href=\"http:\/\/thisismelee.com\" style=\"\" rel=\"noopener\">Melee Development<\/a> and real estate marketing firm <a target=\"_blank\" href=\"https:\/\/adeer-egy.com\/about\/\" style=\"\" rel=\"noopener\">Adeer<\/a> \u2014 a subsidiary of KSA\u2019s Sumou Holding Group \u2014 are set to establish a social sports JV in Saudi Arabia, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/05\/07\/1789797\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company will develop and manage a number of social sports clubs under an MoU inked by the two parties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Comera Financial Holding runs a video call and messaging application called Comera<\/p>\n","protected":false},"author":1,"featured_media":619659,"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":[111,528,8578,1993,8577,679,72,519,183,125,162,123,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-aviation","tag-baanque-misr","tag-cairo-capital-securities","tag-ebda","tag-egyptian-tax-authority","tag-enterpriseam","tag-fawry","tag-fintech","tag-investment-watch","tag-sports","tag-startups","tag-tax","wpautop","entry"],"acf":{"mongo_id":"e5d84cfd-2c27-4248-b400-b2a0a28ed615","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/497.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Beltone inks strategic partnership with the UAE\u2019s Comera to develop payment, financing products. 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PLUS: Thames Freeport + Gorilla Technology, industry fund, Belmazad, Fawry - 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\/05\/08\/beltone-inks-strategic-partnership-with-the-uaes-comera-to-develop-payment-financing-products-plus-thames-freeport-gorilla-technology-industry-fund-belmazad-fawry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beltone inks strategic partnership with the UAE\u2019s Comera to develop payment, financing products. 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