DFA

Greek and Egyptian ministers, #ThodorosSkylakakis and #MahmoudEsmat, have revised the framework for the #GREGY subsea interconnection project, focusing on exporting 75% wind energy and 25% solar power from Egypt to Europe. Developed by Copelouzos Group, the project is part of the European Union’s strategic energy initiatives. Dr. Stelios Loumakis, head of the Hellenic Association of Photovoltaic Energy Producers (SPEF), highlighted the potential of the interconnection to enhance Greece's renewable energy mix and strengthen energy cooperation between the two nations. https://lnkd.in/d_X-mqFj #RenewableEnergy #WindPower #GREGY #EnergyCooperation #Greece #Egypt

The Central Bank of Egypt has contracted Ernst & Young EY to audit and review The United Bank of Egypt’s financials as part of preparations for its IPO. Expected by Q1 2025, the IPO aims to sell 30-40% of shares, with half through a public offering and the rest via private placement. CI Capital Holding will act as the financial advisor for the listing. The United Bank, founded in 2006, saw 2023 profits of EGP 1.7 billion and operates 68 branches with 1,730 employees. Ernst & Young Global Consulting Services https://lnkd.in/dwndNxz9 #IPO #EgyptBanking #UnitedBank #ErnstAndYoung #CICapital #FinancialAudit

Guido Clary, head of the European Investment Bank (EIB) in Cairo, emphasized Egypt's potential in key sectors like renewable energy, transportation, and SMEs. With an €8 billion portfolio, the #EIB plays a crucial role in Egypt's sustainable development efforts. The bank aims to expand investments in renewables and empower the private sector, particularly #SMEs, while supporting the country’s #GreenEnergy goals. Clary noted the EIB’s commitment to fostering resilience and long-term #EconomicGrowth in Egypt. https://lnkd.in/dApV_zug #EgyptPlanning #EUinEgypt #SustainableDevelopment #RenewableEnergy #SMEs #EgyptInvestment #GreenEnergy #EUegyptPartnership

Egypt’s Minister of Investment, Hassan El-Khatib, met with Japan’s Ambassador Oka Hiroshi and a delegation from Yazaki Corporation to review the progress of Yazaki’s €30 million factory in Fayoum. This project, focused on automotive wiring harnesses, spans 67,000 sqm and is expected to create 3,000 direct jobs. Highlighting Egypt’s skilled labor, competitive wages, and free zone incentives, the factory aims to export 100% of its production to Europe. The project aligns with sustainability goals, using green energy throughout its operations. https://lnkd.in/dgty4feU Yazaki Europe Middle East and Africa Yazaki Egypt Yazaki Corporation #EgyptInvestment #YazakiCorporation #GreenEnergy #SustainableManufacturing #AutomotiveIndustry #FayoumFactory #EgyptJapanRelations

The $675 million in 5G licenses has been awarded to Vodafone Egypt, Orange Egypt, e& Egypt, and Telecom Egypt by the National Telecommunications Regulatory Authority (NTRA) of Egypt. These licenses, which also renew earlier generations for 15 years, are expected to advance Egypt's digital infrastructure. Amr Talaat, Egypt’s Minister of Communications, emphasized the transformative potential of 5G in boosting broadband speeds and Internet of Things (IoT) capabilities. Telecom Egypt is already working with Nokia to deploy 5G in major cities like Cairo and Alexandria. https://lnkd.in/ez7mZC-k #5G #Egypt #Telecom #Investment #Vodafone #Orange #e&

Egypt’s Scatec ASA has secured a €30 million grant from the PtX Development Fund to advance its green hydrogen project in the Suez Canal Economic Zone (SCZONE), supporting climate neutrality and local value creation. The project will harness solar and wind energy to produce 70,000 tons of green ammonia and create over 1,300 jobs. This follows the 2022 green hydrogen cooperation between Egypt and Germany, with the German government, through KfW, contributing €270 million to support Power-to-X markets in developing nations. https://lnkd.in/dHeuaHST #GreenHydrogen #Egypt #Sustainability #KfW #SCZone #RenewableEnergy

The EBRD has partnered with Agility's subsidiarynTransfora to create a digital platform for the Suez Canal Economic Zone (SCZONE). This platform will streamline services for businesses and investors by providing access to over 60 electronic services, improving documentation processes, and enhancing connectivity among authorities. EBRD's investment aims to boost the investment climate and facilitate logistics in the region, aligning with Egypt's vision of transforming SCZone into a global logistics hub. https://lnkd.in/dtx6jN5q #SCZone #EBRD #DigitalTransformation #Egypt #Agility #InvestmentClimate

🚀 Check out our September Newsletter for the latest insights into key developments across the region 🌍 - AMEA Power's groundbreaking renewable energy projects - Strengthening ties between Turkey and Egypt with new strategic partnerships - Initiatives from Tamweely Microfinance supporting local entrepreneurs - Saudi Crown Prince pledges a $5bn investment in Egypt's future Stay ahead with the latest updates in energy, finance, and international cooperation! 🌟 #SustainableGrowth #InvestmentOpportunities #AMEAPower #Microfinance #Egypt #SaudiInvestment #TurkeyEgyptRelations #EconomicDevelopment

The Suez Canal Economic Zone (SCZONE) recently hosted a delegation from the JETRO - Japan External Trade Organization to explore green hydrogen opportunities. SCZONE Chairman Waleid Gamal Eldien, MSc highlighted Egypt's strides in localizing green hydrogen production and infrastructure investments, such as desalination plants. #SCZONE aims to become a hub for green fuel through initiatives like the Egypt Green Hydrogen project. Discussions focused on investment incentives and Egypt’s renewable energy sources, while JETRO toured key industrial sites, solidifying SCZONE's role in the global green energy transition. https://lnkd.in/dJcfX8_w #GreenHydrogen #SustainableEnergy #Egypt #JETRO #RenewableEnergy

A coalition of private firms from Egypt, Saudi Arabia, and the UAE has announced an $800 million industrial merger set for October 2024. Zilla Capital, overseeing the transaction, expects additional mergers and acquisitions worth $300 million over the next six months. The firm’s fund management arm plans to launch in Saudi Arabia by year-end, with an initial portfolio of $300 million, projected to double to $600 million in its first year. Zilla Capital, founded in 2018, operates across investment banking and financial advisory sectors. https://lnkd.in/ddn6pvgf #EgyptSaudiUAE #IndustrialMerger #ZillaCapital #Investment #InvestmentBanking #MergersAndAcquisitions #MiddleEastInvestments #ArabMarkets #EconomicGrowth