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Sunday, 9 December 2018

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.

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