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Wednesday, 21 April 2021

Also on our Radar on 21 April 2021

Egypt and Sudan are setting up an investment JV that will aptly be called the Egyptian-Sudanese Company, Amwal Al Ghad reports, citing unnamed sources. Egypt will likely hold 50-60% of the JV’s shareholder structure, which will include the Food Industries Holding Company, South Valley Company and Watania for Agriculture and Reclamation Desert Land from Egypt as well as Etegahat Group from Sudan. The company will be established in 2H2021 and is expected to set up two meat production facilities in Cairo and South Valley, sources added.

Other things we’re keeping an eye on this morning:

  • EFG Hermes subsidiary valU has begun the pilot operation of its newest e-commerce platform, Shop It, with four merchants selling 150 products in the trial stage.
  • An unnamed Chinese tech company will reportedly be contracted by the government to develop electronic receipts that will be used with Egypt’s new nationwide e-invoicing system.
  • Beltone’s Belcash has partnered with El Alsson British and American International Schools to provide tuition financing to parents (pdf).
  • A new Manpower Ministry decree outlines physical working conditions in which employers are not allowed to employ women, including performing physical labor in mines, or employing pregnant women in sectors that could expose them to “physical, chemical, or biological” risks.
  • Petrojet and Spanish engineering firm Tecnicas Reunidas have signed an MoU to locally design, supply, and manufacture heat exchangers that are used in oil and gas projects.
  • EIPICO and Uganda’s Kampala Pharma Industries have signed a partnership agreement to establish a USD 30 mn plant within two years in Sudan, with ownership split equally between the two.

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