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Monday, 11 October 2021

Pioneers Holding to rebrand, insurance for workers abroad and Fawry partners with Uber

Egyptian workers abroad will be able to get state-backed ins. policies here at home starting 2022 under a decision (pdf) by the Financial Regulatory Authority. The decision places a state body that had been responsible for ins. against traveling abroad in charge of tallying up expat workers and ins. them against injuries.

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

  • Fawry is partnering with Uber to allow Uber customers to recharge their Uber wallets via Fawry.
  • Pioneers Holdings — which will soon be rechristened Aspire Capital following the completion of a company demerger — plans to establish a microfinance arm dubbed Kheir, as well as a real estate finance company.
  • Natural gas sales made by state-owned EGAS increased 5% in FY2020-2021 to 2.34 tcf from 2.23 tcf last fiscal year.
  • The Civil Aviation Financial Holding Company (CIAF Holding) has launched its first EGP 100 mn investment fund. Subscription to the fund, dubbed “Tharwety Development Fund,” will be through Misr Capital and Misr Capital Fixed Income Brokerage.

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