{"id":659113,"date":"2025-01-21T00:00:00","date_gmt":"2025-01-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/21\/aois-solar-panel-factory-to-see-investments-of-usd-200-300-mn\/"},"modified":"2025-01-21T00:00:00","modified_gmt":"2025-01-21T00:00:00","slug":"aois-solar-panel-factory-to-see-investments-of-usd-200-300-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/21\/aois-solar-panel-factory-to-see-investments-of-usd-200-300-mn\/","title":{"rendered":"AOI\u2019s solar panel factory to see investments of USD 200-300 mn"},"content":{"rendered":"

Good afternoon folks, and happy Tuesday.<\/strong> With all eyes fixed on the new Trump administration, we have all the latest on the domestic and int\u2019l fronts.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

#1- More details on AOI\u2019s upcoming solar panel factory: <\/strong>State-owned Arab Organization for Industrialization\u2019s (AOI) joint solar panel manufacturing project with Sweden\u2019s Sunshine Pro<\/a> will have an estimated investment cost of USD 200-300 mn, Executive Director of AOI\u2019s Arab Renewable Energy Company Ghada El Gendy told Al<\/a>Mal<\/a>. <\/p>\n

The factory is set to be operational in July<\/strong> of this year and have a production capacity of 1 GW of panels by July 2026, El Gendy said. The factory\u2019s entire production will be earmarked for export to European markets. The ownership division was not specified.<\/p>\n

Remember: <\/strong>The two companies inked an agreement last month<\/a> to build the plant \u2014 dubbed the Arab-Swedish Energy Factory (ASEF).<\/p>\n

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#2- Local fintech startup MoneyHash raised USD 5.2 mn in a pre-Series A funding round, <\/strong>according to a press release<\/a>. Fintech-focused VC Flourish Ventures led the round, which also saw participation from Saudi Arabia\u2019s Vision Ventures, Arab Bank\u2019s Xelerate, Emurgo Kepple Ventures, and existing investors UAE\u2019s COTU Ventures and Saudi\u2019s RZM Investment. <\/p>\n

Where will the money go? <\/strong>The startup will use the fresh funds to accelerate market penetration in the MEA region and for global expansion into other emerging markets where payment infrastructure remains underdeveloped, CEO Nader Abdelrazik told EnterpriseAM. <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

American bankers are<\/strong> welcoming US president Donald Trump\u2019s initial policy positions as <\/strong>his second term kicks off,<\/strong> with JPMorgan\u2019s Mary Erdoes noting that \u201ca lot of this is exactly what you would do to have a very pro-business environment.\u201d CEOs attending the World Economic Forum Annual Meeting in Davos, Switzerland noted that they expected the rollback of Biden-era regulations to boost business activity and sharpen the US economy\u2019s competitive advantage, pointing to the impact that a lighter-touch Trump administration could have on how the international Basel III financial solvency standards \u2014 which seek to prevent another financial crisis \u2014 are applied. (Financial Times<\/a> | Reuters<\/a>)<\/p>\n

Among Trump\u2019s first moves in office has been lifting sanctions on violent Israeli settlers <\/strong>in the West Bank<\/strong> \u2014 a move that came as dozens of Israeli settlers torched a Palestinian village in protest of the ceasefire between Israel and Hamas. Trump has also restored sanctions against the International Criminal Court for issuing arrest warrants for Israeli PM Benjamin Netanyahu and former Israeli defence minister Yoav Gallant. (Financial Times<\/a>)<\/p>\n

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