{"id":620608,"date":"2024-05-23T00:00:00","date_gmt":"2024-05-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/agthia-wants-to-boost-its-exports-out-of-egypt-plus-news-from-te-vodafone-huawei\/"},"modified":"2024-05-23T00:00:00","modified_gmt":"2024-05-23T00:00:00","slug":"agthia-wants-to-boost-its-exports-out-of-egypt-plus-news-from-te-vodafone-huawei","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/agthia-wants-to-boost-its-exports-out-of-egypt-plus-news-from-te-vodafone-huawei\/","title":{"rendered":"Agthia wants to boost its exports out of Egypt. PLUS: News from TE, Vodafone, Huawei"},"content":{"rendered":"<p class=\"tag-border-left\">EXPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE\u2019s Agthia wants to level up its <\/strong><strong>export <\/strong><strong>base here:<\/strong> ADQ-owned F&B firm Agthia plans to ramp up its exports from Egypt to other countries to AED 100 mn this year, up from AED 70 mn in 2023, the company\u2019s CFO Sherif Elfaham told CNBC Arabia (<a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/123509\/2024\/5\/21\/%D8%A3%D9%88%D9%84%D8%A7%D9%8B-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9..-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%84%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A3%D8%BA%D8%B0%D9%8A%D8%A9-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9:-%D8%AA%D9%88%D9%82%D8%B9-%D8%AA%D8%AD%D9%82%D9%8A%D9%82-%D9%86%D9%85%D9%88%D9%8D-%D9%8A%D8%B5%D9%84-%D8%A5%D9%84%D9%89-10--%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%B9%D8%A7%D9%85-2024\" style=\"\" rel=\"noopener\">watch, runtime, 6:36<\/a>). Exports from Egypt hit AED 24 mn in the first quarter of the year, Elfaham said, adding that the local market \u201crepresents about 18-19% of the company\u2019s business volumes.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click the headline above to read this story<\/strong> with all of the links to our background and outside sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The firm \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/116a2c54-e0f8-48c8-8ab7-dcd66b0aeffe\/b-investments-granted-more-time-to-submit-mto-for-ofh.-plus:%253cmark%253e-agthia%253c%2Fmark%253e-ups-stake-in-abu-auf,-basata-acquires-jordanian-fintech-stake\" style=\"\" rel=\"noopener\">also owns<\/a> 70% in Abu Auf\u2019s parent company and 75% of the parent company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248e5d41-7c58-42ed-abe9-f67d9ac74995\/aldar,-adq-launch-bid-for-sodic\" style=\"\" rel=\"noopener\">behind<\/a> frozen meat brand Atyab \u2014 wants to leverage Egypt\u2019s \u201clow production costs, strategic location, and strong commercial relationships,\u201d Elfaham said. Agthia is looking to make Egypt a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd4e09bb-a831-4dcf-b149-0ac5d4932182\" style=\"\" rel=\"noopener\">regional export hub<\/a> by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fea2ccb8-fe2b-4566-bb06-4571c6ec3548\/\" style=\"\" rel=\"noopener\">setting up an export facility<\/a> here to serve markets in the Gulf and North Africa.<\/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\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US Transportation Security <\/strong><strong>Administration (TSA) will help set up a regional center for security training in Egypt<\/strong>, the Civil Aviation Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.civilaviation.gov.eg\/Media\/NewsDetails?NewsID=294&title=%D9%88%D8%B2%D9%8A%D8%B1%20%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86%20%D8%A7%D9%84%D9%85%D8%AF%D9%86%D9%89%20%D9%8A%D9%84%D8%AA%D9%82%D9%8A%20%D9%88%D9%81%D8%AF%20%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9%20%D8%A3%D9%85%D9%86%20%D8%A7%D9%84%D9%86%D9%82%D9%84%20%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9(TSA)%20%D8%A8%D8%A7%D9%84%D8%B9%D8%A7%D8%B5%D9%85%D8%A9%20%D8%A7%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D9%8A%D8%A9%20%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9\" style=\"\" rel=\"noopener\">statement<\/a>, after a TSA delegation met with ministry officials. The US side will provide the center with the latest equipment at no cost. The US side will also provide \u201call means of support and expertise\u201d necessary for the redesign of Cairo International Airport, terminal 3.<\/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\">TELECOMS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Vodacom and Orange want to support Africa\u2019s mobile network:<\/strong> Africa\u2019s largest mobile operator Vodacom is in talks to set up a strategic partnership with Orange France that would involve infrastructure agreements in Africa, building connectivity in rural areas, and cutting costs in the continent, reported <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63962\/%D9%85%D8%AD%D8%A7%D8%AF%D8%AB%D8%A7%D8%AA-%D8%A8%D9%8A%D9%86-%D9%81%D9%88%D8%AF%D8%A7%D9%83%D9%88%D9%85-%D9%88%D8%A3%D9%88%D8%B1%D8%A7%D9%86%D8%AC-%D8%A8%D8%B4%D8%A3%D9%86-%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, citing unnamed sources it said are familiar with the negotiations. The two telecoms players are eyeing agreements in Egypt as well as the Democratic Republic of Congo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Huawei launches region\u2019s first ever public cloud in Egypt:<\/strong> China\u2019s Huawei Cloud in cooperation with Telecom Egypt has launched a public cloud services platform in Egypt, the first in the country and North Africa, Telecom Egypt said in a <a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/198\/Telecom-Egypt-Partners-with-Huawei-Cloud-to-Host-Huawei-s-First-Public-Cloud-in-Egypt-and-Northern-Africa\" style=\"\" rel=\"noopener\">statement<\/a> on Tuesday.<\/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>Telecom Egypt has secured a USD 200 mn loan from Banque Misr UAE <\/strong>to refinance its existing short-term facilities, TE said in a <a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/199\/Telecom-Egypt-to-refinance-short-term-facilities-with-new-USD-200m-medium-term-loan-facility-from-Banque-Misr-UAE\" style=\"\" rel=\"noopener\">statement<\/a>. The two parties agreed that the loan will be repaid within five years from TE\u2019s FX revenues. TE is currently undertaking a refinancing strategy to reduce borrowing costs, assure liquidity and increase its financial flexibility, the statement notes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Agthia\u2019s exports from Egypt hit AED 24 mn in the first quarter of the year<\/p>\n","protected":false},"author":1,"featured_media":620609,"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":[1326,111,528,576,214,7106,72,2230,842,83,212,132,467],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-agthia","tag-also-on-our-radar","tag-aviation","tag-banque-misr","tag-cit","tag-debt","tag-enterpriseam","tag-huawei","tag-orange-egypt","tag-real-estate","tag-telecom-egypt","tag-trade","tag-vodacom","wpautop","entry"],"acf":{"mongo_id":"ad9f453d-18cd-4026-a3c6-1d94ac46e131","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1873.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Agthia wants to boost its exports out of Egypt","related_issue":[620589],"teaser":"Agthia\u2019s exports from Egypt hit AED 24 mn in the first quarter of the year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.1555f3fe-2333-42aa-aa57-226d383e858d.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>Agthia wants to boost its exports out of Egypt. 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