{"id":660427,"date":"2025-02-11T00:00:00","date_gmt":"2025-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/11\/egypt-could-be-getting-a-usd-1-8-bn-healthcare-data-center\/"},"modified":"2025-02-11T00:00:00","modified_gmt":"2025-02-11T00:00:00","slug":"egypt-could-be-getting-a-usd-1-8-bn-healthcare-data-center","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/11\/egypt-could-be-getting-a-usd-1-8-bn-healthcare-data-center\/","title":{"rendered":"Egypt could be getting a USD 1.8 bn healthcare data center"},"content":{"rendered":"

Good afternoon all you lovely people, and happy Tuesday. <\/strong>We have a packed issue for you today, with all the latest on a potential USD 1.8 bn data center, Trump\u2019s surprise foreign policy moves, and global coal consumption.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

#1- Gov\u2019t in talks with Spain\u2019s WHM to set up a USD 1.8 bn healthcare data center<\/strong>:<\/strong> Spanish medical consultancy WHM<\/a> has reportedly proposed setting up a USD 1.8 bn data center as part of a consortium of international investors and in partnership with the ICT Ministry, Investment Minister Hassan El Khatib said in a statement<\/a>. The terms of the project, which aims to help turn Egypt into a regional hub for AI-related medical services, are set to be nailed out over a series of follow-up meetings between the two parties. Khatib also highlighted further investment opportunities available to the company in Egypt, as well as the government\u2019s willingness to provide incentives for WHM to expand its activities in the Egyptian market.<\/p>\n

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#2- Beltone in place to acquire majority stake in Baobab:<\/strong> Beltone Holding<\/a> has inked a share purchase agreement to acquire a majority stake in African SME-focused financial services provider Baobab Group<\/a> for an undisclosed amount, the company said in a disclosure<\/a>(pdf)<\/a> to the EGX. The Egyptian financial services provider will formally acquire the stake after the remaining approvals and procedures are completed.<\/p>\n

This isn\u2019t the first time we\u2019ve heard about the upcoming acquisition: <\/strong>We first heard about the transaction last month, when it was announced Beltone Holding subsidiary Beltone Capital had entered into a put option agreement<\/a> to acquire the stake. Beltone said at the time that the acquisition would drive Beltone\u2019s regional growth strategy through expansions in Africa, utilizing Baobab\u2019s existing operations in Senegal, C\u00f4te d'Ivoire, Madagascar, Burkina Faso, Mali, Democratic Republic of Congo, and Nigeria, along with its 500k customers customer base.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

US president Donald Trump\u2019s raft of foreign policy moves over the last 48 moves <\/strong>continue to reverberate across the world\u2019s front pages, <\/strong>with the US president\u2019s decision to suspend enforcement<\/a> of an anti-corruption law that prevents US individuals and corporations from bribing foreign officials the latest move in a string of decisions that have seen Trump threaten to \u201clet all hell break loose\u201d<\/a> in Gaza, impose 25% tariffs on steel aluminum imports<\/a>, and threaten to withhold aid from Egypt and Jordan if they fail to comply with his plans to forcibly displace Palestinians from Gaza. Trump is set to meet today<\/a> with Jordan\u2019s King Abdullah to discuss the latter proposal, with Trump yet to fully renege on his plan to see the US occupy and redevelop<\/a> the enclave.<\/p>\n

Over in int\u2019l business news, <\/strong>outlets continue to report on an Elon Musk-led consortium\u2019s nearly USD 100 bn offer<\/a> to buy the non-profit behind OpenAI \u2014 a key competitor of Musk\u2019s AI outfit xAI. The move aims to block<\/a> OpenAI\u2019s bid to access more capital by transitioning to a for-profit structure, with Musk claiming that CEO Sam Altman\u2019s plans to spin off the non-profit that currently holds a controlling stake in OpenAI\u2019s for-profit subsidiary betray the company\u2019s mission and undervalue the company. Musk also stands to gain from a higher sale price for the non-profit, given his early investments in the ChatGPT-maker.<\/p>\n

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