{"id":658181,"date":"2025-01-06T00:00:00","date_gmt":"2025-01-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/06\/onaelectric-industries-to-give-circuit-breaker-localization-a-boost-with-new-factory-plus-nawy-roa-banque-misr-national-bank-of-egypt-nowpay-united-international-holding-company-target-hr\/"},"modified":"2025-01-06T00:00:00","modified_gmt":"2025-01-06T00:00:00","slug":"onaelectric-industries-to-give-circuit-breaker-localization-a-boost-with-new-factory-plus-nawy-roa-banque-misr-national-bank-of-egypt-nowpay-united-international-holding-company-target-hr","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/06\/onaelectric-industries-to-give-circuit-breaker-localization-a-boost-with-new-factory-plus-nawy-roa-banque-misr-national-bank-of-egypt-nowpay-united-international-holding-company-target-hr\/","title":{"rendered":"Onaelectric Industries to give circuit breaker localization a boost with new factory. PLUS: Nawy + ROA, Banque Misr + National Bank of Egypt, NowPay + United International Holding Company, Target HR + ManpowerGroup"},"content":{"rendered":"<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Local electrical equipment manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/onaelectric-industries.com\/company\/\" style=\"\" rel=\"noopener\">Onaelectric Industries<\/a><\/strong><strong> wants to invest EGP 500<\/strong><strong> mn in a new circuit breaker factory<\/strong>, set to be built in Tenth of Ramadan City and be operational starting early 2026, the company\u2019s sales director, Ahmed Hamed, told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/01\/04\/1858613\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The Industrial Development Authority has allocated a 10k sqm plot for the factory, which will manufacture products using up to 100% local inputs and export 70% of output.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project is set to be the first factory of its kind in the country to locally produce circuit <\/strong><strong>breakers with local components<\/strong>, Hamed told the outlet. The government is aiming to localize 152 industries by 2030 in sectors including, a government source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3fdb838-5768-4201-8be9-a6cdc8b3aa29\/a-deep-dive-into-egypt%25e2%2580%2599s-localization-efforts\" style=\"\" rel=\"noopener\">previously told<\/a> EnterpriseAM, which likely includes circuit breakers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion abroad is also part of the game plan<\/strong>, with the company aiming to invest USD 15 mn to establish a factory in China and another in Europe over the next five years.<\/p>\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s two largest banks will continue issuing record high-interest certificates of <\/strong><strong>deposits (CDs)<\/strong>, with the state-owned National Bank of Egypt (NBE) and Banque Misr deciding to extend the issuance of their <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ad1c920-0fad-4d8b-a54a-0376faf6fb27\" style=\"\" rel=\"noopener\">27% and 23.5% CDs<\/a> after the initial issuances\u2019 maturity expired yesterday. The two banks had been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b5cd5d7-94eb-4391-bd8e-d6b1bd175704\/the-sovereign-fund-of-egypt-is-heading-to-the-gulf\" style=\"\" rel=\"noopener\">considering<\/a> replacing the CDs with those with a lower return in May of last year, while the country\u2019s largest private sector bank CIB became the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/story\/070a42ce-5ee5-4bc6-ba7b-a17d9663cf6a\/%25d8%25a7%25d9%2584%25d8%25a3%25d9%2588%25d8%25b1%25d9%2588%25d8%25a8%25d9%258a-%25d9%2584%25d8%25a5%25d8%25b9%25d8%25a7%25d8%25af%25d8%25a9-%25d8%25a7%25d9%2584%25d8%25a5%25d8%25b9%25d9%2585%25d8%25a7%25d8%25b1-%25d9%258a%25d8%25af%25d8%25b1%25d8%25b3-%25d8%25aa%25d9%2585%25d9%2588%25d9%258a%25d9%2584-%25d9%2585%25d8%25b2%25d8%25b1%25d8%25b9%25d8%25a9-%25d8%25b1%25d9%258a%25d8%25a7%25d8%25ad-%25d9%2585%25d8%25b5%25d8%25af%25d8%25b1-%25d8%25a5%25d9%2586%25d9%2581%25d9%258a%25d9%2586%25d9%258a%25d8%25aa%25d9%258a.-%25d8%25b3%25d9%258a%25d9%2585%25d8%25a8%25d9%2584%25d9%2583%25d8%25b3-%25d8%25aa%25d9%2581%25d8%25aa%25d8%25aa%25d8%25ad-%25d9%2585%25d8%25b5%25d9%2586%25d8%25b9%25d8%25a7-%25d8%25ac%25d8%25af%25d9%258a%25d8%25af%25d8%25a7-%25d8%25a7%25d9%2584%25d8%25b9%25d8%25a7%25d9%2585-%25d8%25a7%25d9%2584%25d9%2585%25d9%2582%25d8%25a8%25d9%2584.-%25d8%25a3%25d8%25ae%25d8%25a8%25d8%25a7%25d8%25b1-%25d9%2585%25d9%2586-%25d8%25a7%25d9%2584%25d9%2588%25d9%2583%25d8%25a7%25d9%2584%25d8%25a9-%25d8%25a7%25d9%2584%25d8%25a3%25d9%2585%25d8%25b1%25d9%258a%25d9%2583%25d9%258a%25d8%25a9-%25d9%2584%25d9%2584%25d8%25aa%25d9%2586%25d9%2585%25d9%258a%25d8%25a9-%25d9%2588%25d8%25a8%25d9%2586%25d9%2583-%25d9%2585%25d8%25b5%25d8%25b1\" style=\"\" rel=\"noopener\">first bank to lower rates<\/a> on high-interest CDs in June following the 600 bps hike and float of the EGP in March.<\/p>\n<p class=\"tag-border-left\">PROPTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local proptech Nawy will soon acquire property management company ROA in its bid to<\/strong><strong> launch Nawy Unlocked <\/strong>\u2014 a new service \u201cdesigned to help property owners generate income from unused or unfinished properties,\u201d the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/1\/108.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The cost of the acquisition was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nawy is also in negotiations with seven banks for its Nawy Now <\/strong><strong>service<\/strong>, which focuses on real estate financing, Nawy CEO Mostafa El Beltagy told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/01\/04\/1858621\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. El Beltagy did not reveal the size of the financing they are looking for. <\/p>\n<p class=\"tag-border-left\"> DIGITIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Food Safety Authority has launched its new <\/strong><strong><a target=\"_blank\" href=\"https:\/\/reg.nfsa.gov.eg\/?fbclid=IwY2xjawHnPkxleHRuA2FlbQIxMAABHbKjAkVEVrCmuExw-gvOMwhwhaWOb9MwXj_paEVmV899z-RqAfWN-3QP3Q_aem_jRlIfzPlytRXGdpB4znZiQ\" style=\"\" rel=\"noopener\">Unified Registration<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/reg.nfsa.gov.eg\/?fbclid=IwY2xjawHnPkxleHRuA2FlbQIxMAABHbKjAkVEVrCmuExw-gvOMwhwhaWOb9MwXj_paEVmV899z-RqAfWN-3QP3Q_aem_jRlIfzPlytRXGdpB4znZiQ\" style=\"\" rel=\"noopener\">Portal<\/a><\/strong> to facilitate the process of registering food establishments, with the platform available via your smartphone, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02YXzZaoVVNsTLi4km2qYDe6NoBesRToJ6fqgErMFwXShBqa3gcsE1GYfz1fL9RTKrl\" style=\"\" rel=\"noopener\">statement<\/a> from the authority.<\/p>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Local fintech NowPay will set up a payroll company in KSA with Saudi United <\/strong><strong>International Holding Company <\/strong>under an MoU inked between the two, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84552&amp;anCat=1&amp;cs=4083&amp;locale=en\" style=\"\" rel=\"noopener\">disclosure<\/a> to the Tadawul. The JV will be set up with an initial investment of SAR 75 mn, with United International Holding holding a 75% stake and NowPay owning the remaining 25%. <\/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- Egyptian HR services firm Target HR will now operate under the Manpower brand<\/strong> under brand licensing agreement with global staffing firm ManpowerGroup, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/1\/110.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>. The newly branded firm \u2014 to be dubbed Manpower Egypt \u2014 will offer services including temporary and permanent staffing, tailored HR services for Egypt and talent management, and combine \u201clocal expertise with global best practices to deliver world-class HR and staffing solutions,\u201d according to the statement. <\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egyptian Tourism Federation has formed a new committee to tackle tourism services <\/strong><strong>and programs being sold below the cost price<\/strong>, the federation said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/etfegypt\/posts\/pfbid02WpW7rAvodo5Uky44kfxv4jLnLxnzqzoMpHGkzmdWUGfoBWBJ99PJKaLajYoH7QuSl?locale=ar_AR\" style=\"\" rel=\"noopener\">statement<\/a>. The committee \u2014 aimed at maintaining the sector\u2019s competitiveness and stabilizing the market \u2014 will have representatives from the Tourism Ministry, tourism chambers, and legal and regulatory bodies. It will investigate complaints, requiring evidence of violations and supporting documents, with decisions to be escalated to the federation's chairman for legal action. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project is set to be the first factory of its kind in the country to locally produce circuit breakers with local components<\/p>\n","protected":false},"author":1,"featured_media":658182,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[111,204,576,155,72,564,1050,131,248,3638,9605,8962,83,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banking","tag-banque-misr","tag-digitization","tag-enterpriseam","tag-food","tag-human-resources","tag-manufacturing","tag-national-bank-of-egypt","tag-national-food-safety-authority","tag-nawy","tag-proptech","tag-real-estate","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"691d6825-f0bf-4d66-a081-ae6a6991c6b0","order":"9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/128.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Onaelectric Industries to give circuit breaker localization a boost with new factory. PLUS: Nawy + ROA, Banque Misr + National Bank of Egypt, NowPay + United International Holding Company, Target HR + ManpowerGroup","related_issue":[658166],"teaser":"The project is set to be the first factory of its kind in the country to locally produce circuit breakers with local components","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.023ea951-3a66-4396-b4e1-4ea58e00e2ed.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>Onaelectric Industries to give circuit breaker localization a boost with new factory. PLUS: Nawy + ROA, Banque Misr + National Bank of Egypt, NowPay + United International Holding Company, Target HR + ManpowerGroup - 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\/2025\/01\/06\/onaelectric-industries-to-give-circuit-breaker-localization-a-boost-with-new-factory-plus-nawy-roa-banque-misr-national-bank-of-egypt-nowpay-united-international-holding-company-target-hr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Onaelectric Industries to give circuit breaker localization a boost with new factory. 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Sabry\u2019s comments came on the sidelines of the company\u2019s launch of Fawry Yawmy, the region\u2019s first fintech-based money market fund, in partnership with Misr Capital. 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ACC has played a key\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/427.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549005,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/more-ukrainian-grain-is-on-its-way\/","url_meta":{"origin":658181,"position":2},"title":"More Ukrainian grain is on its way","author":"enterpriseam admin","date":"30 August 2022","format":false,"excerpt":"Other things we\u2019re keeping an eye on this morning: The Holding Company for Food Industries has reportedly acquired a 17% stake in Fayoum Sugar Works for EGP 305 mn, upping its stake in the company to around 20%. Banque Misr, the National Bank of Egypt, Misr Ins. 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