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Friday, 1 October 2021

Your top 5 pieces of business and economic news in September 2021.

Your top 5 pieces of business and economic news in September:

  • MNT-Halan closed what we believe is the largest fintech round ever to take place in MENA, raising c. USD 120 mn from a group of investors that includes financial services-focused PE house Apis, the UK’s Development Partners International (DPI) and Lorax Capital Partner.
  • The UAE’s Aldar Properties and sovereign wealth fund ADQ launched a bid for SODIC, submitting a mandatory tender offer for up to 90% of upmarket real estate developer SODIC.
  • Healthcare provider Alameda plans to invest EGP 5 bn over the coming 3-5 years to expand its services in Egypt.
  • Africa-focused, Paris-headquartered private equity outfit Amethis could invest more than EUR 30 mn in Egyptian SMEs after it hit a first close of its second MENA fund.
  • We smashed growth expectations in 4Q2020-2021: Egypt’s economy grew at a 7.7% clip in 4Q2020-2021, accelerating from a contraction of 1.7% during the final quarter of the previous fiscal year.

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