Africa Forum 2018 kicks off, Egypt inks agreements
The Africa Forum 2018 in Sharm kicked off yesterday. Among the takeaways from the many announcements of the past 24 hours:
- EBRD is backing accelerators Falak, EFG-EV Fintech and Misr El Kheir, offering advisory support to each of them and their portfolio companies, the institution said in a statement (pdf).
- Falak Startups signed an MoU with Enara Capital to establish a startup accelerator and investment fund exclusively for clean technology startups, according to an Investment Ministry statement.
- Telecom Egypt inks data center and infrastructure agreement: Liquid Telecom is investing USD 400 mn (EGP 8 bn) in Egypt over the next three years in an agreement signed with Telecom Egypt, according to a statement from the Investment Ministry and a Liquid Telecom press release.
- Kitchener Drain rehab gets funding: The European Investment Bank and the Housing Ministry signed a EUR 213.9 mn agreement for the Kitchener Drain depollution project, according to Ahram. The drain passes through Dakahlia, Gharbiya and Kafr El Sheikh.
- The Suez Canal Authority inked two agreements to develop Ain Sokhna and West Port Said, according to a ministry statement.
- EGP 2.2 bn in financing for Sinai: Kuwait’s Fund for Arab Economic Development will finance sewage, desalination and agricultural wastewater projects in Sinai worth a combined EGP 2.2 bn, the Investment Ministry said yesterday. The fund has earmarked USD 1 bn to support development in Sinai through 2021, Al Mal reports.