Back to the complete issue
Monday, 13 March 2023

Amazon to triple warehouse space in Egypt this year. PLUS: Expat plans to invest USD 400 mn in local healthcare firms

ECOMMERCE-

Amazon will triple the storage capacity of its fulfillment centers nationwide to nearly 100k cubic meters in 2023, the e-commerce giant said in a statement (pdf) yesterday. The company is also investing to beef up its delivery network and partner with more delivery firms, the release reads. The Amazon network here currently includes its flagship fulfillment center in the Tenth of Ramadan and 22 delivery stations across key cities.

ICYMI- Amazon Egypt General Manager Omar Elsahy told us why he thinks tech and the digitization of local manufacturing and SMEs growth is key to boosting FDI and exports in our recent CEO poll.

INVESTMENT-

Egyptian expat to invest up to USD 400 mn in local healthcare firms: Rick Menassa (LinkedIn) — the CEO of Toronto-based firms Health Espresso & iCare Home Health — plans to invest USD 300-400 mn in the local health sector along with undisclosed investors from Saudi Arabia, Manessa told the Emigration Ministry in an interview (watch, runtime: 5:03). Further information about the potential investment wasn’t disclosed.

Attracting more FDI from expats: The interview is part of a video campaign launched by the ministry to try and encourage Egyptians abroad to invest in Egypt dubbed “Egyptian investors abroad answer: Why do we invest in Egypt?” according to a ministry statement. The government has launched several initiatives in recent months meant to drum up USDs from Egyptians abroad amid the ongoing FX shortage, including its expat car import scheme.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.