Blockchain startup Pravica secures direct investment from Crypto Valley Venture Capital

EGYPT – Pravica, a B2B communication startup based in Cairo, has secured an undisclosed direct investment from Crypto Valley Venture Capital (CV VC), the leading Swiss venture capital firm and incubator specialising in global blockchain business investment. The latest investment from CV VC will be used to expand Pravica’s messaging app to more users, with a goal to bring onboard…

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Food delivery platform Elmenus raises US$10m pre-Series C funding for its expansion plans

EGYPT – Elmenus, the Cairo-based food discovery, ordering, and delivery platform, has announced that it raised US$10 million in pre-Series C funding round lead by Egyptian payments firm Fawry. New York-based hedge fund Luxor Capital, and Egyptian property developer Marakez, also participated in the deal. Luxor has previously backed companies like Zomato, Glovo, and Gopuff. Elmenus is their first investment…

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Arkan Palm partners Crowne Plaza West Cairo for its latest project

EGYPT – Arkan Palm, a subsidiary of Palm Hills Developments, has announced the signing of a service partnership with the upcoming Crowne Plaza West Cairo (an IHG Hotel) for its latest residential community project in Sheikh Zayed City, Canal Walk Island. Located in a strategic location on 205 acres, Canal Walk Island consists of a series of luxury hotel apartments…

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Digital logistics company iMile officially launches its operations in Egypt

EGYPT – iMile, a technology-driven delivery service, has officially launched into Egypt with operations in Cairo and Suez. Dubai-based, iMile specialises in delivering goods from eCommerce sellers in China to customers in the MENA region. iMile’s recent expansion into Egypt is part of its commitment to continue supporting efficient cross-border eCommerce across the region. This comes a year after the…

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GEMS Egypt Group announces establishment of its first purpose-built school in Cairo

EGYPT – GEMS Egypt Group, a subsidiary of the largest private K-12 education provider in the world GEMS Education, has announced its expansion in Egypt by establishing the first GEMS purpose-built school in Egypt, GEMS International School in Cairo, as a premium American and International School located in the heart of New Cairo, Egypt. The school is also in the…

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Qatari Diar Company inaugurates US$1bn St. Regis Hotels & Resorts Cairo

EGYPT – The Qatari Diar Company, a real estate investment company, has launched the St. Regis Hotels & Resorts, part of Marriott International, in Egypt. The St. Regis Cairo was inaugurated in the presence of the Qatari Minister of Finance, Ali Sherif Al-Emadi, the US Secretary of Treasury, Steven Mnuchin, and the Egyptian Minister of Finance, Mohamed Maait. “By investing…

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Egypt to invest US$219m in construction of Cairo’s 4th metro line

EGYPT – The Government of Egypt has announced plans to invest US$218.89 million in FY2020/2021 in the construction of the first phase of Cairo’s fourth metro line. Once complete, the metro line will be expected to serve 1.35 million passengers with the number being increased to 2.5 million after the accomplishment of the second phase. Cairo’s fourth metro line will…

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Africa Re disburses US$3.3m to assist stakeholders in COVID-19 Pandemic fight

AFRICA – The African Reinsurance Corporation (Africa Re), the premier reinsurance group in Africa, has announced the disbursement of the sum of US$3.3 million to assist stakeholders in the ongoing fight against the Covid-19 pandemic in the continent. This assistance will be managed by the Africa Re Foundation, an independent institution, set up to handle the corporate social responsibility projects…

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Fintech startup MoneyFellows raises US$4m Series A investment to expand its user base

EGYPT – MoneyFellows, a fintech startup for contributory savings and loans schemes has raised US$4 million in a Series A investment led by Paris-headquartered global VC Partech and Egypt’s Sawari Ventures. The funding round is aimed at growing MoneyFellows beyond its base of about 150,000 users with the launch of new products in the coming months, the company said. Ahmed…

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AAIC invests in mental health platform Shezlong to expand its services

EGYPT – Shezlong, Cairo-based mental health platform has raised an undiclosed fresh funds from Asia Africa Investment Consulting (AAIC), a Singapore-based investor focused on investing in healthcare startups in Africa.  The round was also joined by Mohamed El Khamissy (investor in different health and wellness startups across the Middle East, Europe, and the United States) and Cairo-based angel fund HIMangel.  Shezlong had…

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