The National Bank of Egypt (“NBE”) has inaugurated its first branch in Juba, South Sudan on 28th June 2022 with a capital of USD30m. The bank’s presence in Africa will provide various banking and advisory services to Egyptian companies that aim to invest in the African market to enhance import and export between the various countries […]
Global law firm Baker McKenzie has appointed five new partners in the MENA Region. Dispute resolution partners Amir Alkhaja (UAE) and Sally Kotb (UAE), IP & technology partner Kellie Blyth (UAE), banking & finance partner
Banking & Finance
Egypt
Energy & Trading
Elsewedy Electric secures USD150m investment for operations’ expansion
Elsewedy Electric, Egyptian global providers of energy, digital, and infrastructure solutions, has secured a USD150 million loan from the International Finance Corporation (“IFC”), a member of the World Bank Group. IFC’s USD150 million investment,
Deal & transactions
Egypt
Energy & Trading
Siemens Energy with Egyptian Electricity Transmission Co in a EGP37m
Siemens Energy and Egyptian Electricity Transmission Company have entered into a long-term partnership for the expansion of Suez transformer station. The project cost is approximately EGP 37 million (EUR 1.87 million) + EUR 6 million as a discount
Banking & Finance
Deal & transactions
Egypt
Tanmeyah Microfinance Services acquires Fatura Netherlands
Tanmeyah for Microfinance Services (‘’Tanmeyah”), a wholly-owned subsidiary of EFG Hermes Holding, has successfully completed the acquisition of Fatura Netherlands (“Fatura”). Fatura is a tech-driven Business-to-Business (B2B) platform with a regional footprint
Shalakany has successfully negotiated and closed off a settlement deal, on behalf of its Kazakhstani foreign investor client, with the opposing party in relation to the client’s investment in the Egyptian FinTech sector.&
Deal & transactions
Egypt
Saudi Arabia
TMT
Egypt’s Benya enters into a cooperation agreement With Saudi’s Alfanar
Benya Group, the digital solutions and ICT infrastructure provider in Egypt and MEA region signed a cooperation agreement with alfanar company, specialists in the electrical and construction industries in the Middle East and
Banking & Finance
Deal & transactions
Egypt
Saudi Arabia
Baker McKenzie: EFG Hermes and valU in two transactions in
Baker McKenzie has advised EFG Hermes and its buy-now-pay-later (BNPL) fintech platform, valU for consumer finance (valU), on two planned strategic ttransactions. The first of which is the acquisition by valU of a stake
Egypt
News
Real Estate, Construction & Infrastructure
Shalakany secures a favourable USD 40 million settlement for their
Shalakany has successfully represented their client, a major international hotel management company, in settling a claim worth more than USD 40 Million arising out of the hotel management agreement of one of the hotels in Egypt.
Riad & Riad partner Fatma Salah (pictured) has been selected as the vice chairman of the Economic Legislation Committee at the Egyptian Business Association (EBA), a reputable and trusted pressure group aiming at discussing
