The AfricInvest Fund is planning to invest $80m- $100m in the Egyptian market 2020 and 2021.
The investments of the company may come through the new fund to be launched by the end of next June, with an initial closure of $250m, or through other (...)
MerQ, an Egypt-based artificial intelligence (AI) company, has attracted nearly 100,000 users to its Sally credit card virtual assistant within eight months of operating the application services in the local market.
The company has launched new (...)
The Ministry of Communication and Information Technology (MCIT) is preparing to introduce the E-Transactions Act as an alternative to the E-Commerce Law. The MCIT will begin community dialogue sessions with relevant government agencies, e-commerce (...)
Fawry e-payments is waiting for the approval of the Central Bank of Egypt (CBE) to provide banking services through Fawry Plus branches, which are expected to reach 300 by 2020. The company is closing in on its target of collections worth EGP 40bn (...)
Aman e-payment company aims to provide financing to traders, in coordination with the Aman Micro and Small Enterprises Company, next year. The company also plans to boost the number of transactions to 1m by the end of 2019 up from the current (...)
Minister of Communication and Information Technology Amr Talaat said that the ministry has three main axes to build a digital community capable of respecting innovation through implementing a number of government projects to automate government (...)
"Nafnam", a website specialised in online education services, has introduced a new utility for users, namely, direct communication between teachers and students outside educational videos, thereby creating greater opportunities for teachers to (...)
The Egyptian Parliament is in early discussions to impose advertisement fees on global companies such as Google and Facebook, said member of parliament Riyad Abdelsattar.
Abdelsattar said that the purpose of subjecting Google and Facebook to taxes (...)
PayMe for e-payments is targeting collections worth EGP 20m by the end of this year, as well as contracting with 1,000 traders. It is also negotiating with four investors to sell 10% of its shares for EGP 5m. It is planning to offer e-payment (...)
The Ministry of Youth and Sports intends to implement, 16 projects at an investment cost of EGP 380m during the current fiscal year (FY). Daily News Egypt met with Adel Radwan, the head of the Central Department of Sports Investment at the Ministry (...)
Wasla for Outsourcing Services plans to open a new branch in Assiut with a capacity of 400 seats early next year, as part of its plan to expand in Upper Egypt.
Saied Riyad, commercial director of Wasla, said that the new headquarters will be close (...)
Catalyst Business Solutions, a technology consulting company that provides Oracle solutions, cloud computing services, and Internet of Things (IoT), targets a business volume of $16m this year in the Middle East and Gulf region. The company is (...)
Wael El-Fakharany, managing director of online cab-booking application Careem Egypt, said that his company currently has 50,000 drivers in more than six cities.
He added that Careem had increased its capital by the end of December to reach $350m, (...)
The Taxi Drivers and Owners Association intends to submit an official letter to the cabinet, seeking to increase the tariff for the white taxi from EGP 1.4 per kilometre to EGP 2, and a set fare to start at EGP 6 instead of EGP 3, on the back of the (...)
Negotiations on the conditions of 4G licences continued between the National Telecommunications Regulatory Authority (NTRA) and mobile companies for several weeks before matters were officially sealed regarding the three companies obtainment of the (...)
According to CEO of formation Technology Industry Development Agency (ITIDA) Ehab Mostafa, the agency postponed bestowing its mark of confidence to electronic commerce (e-commerce) websites, in cooperation with the Consumer Protection Agency (CPA,) (...)
Daily News Egypt interviewed Chairman of the Central Administration of Cairo Customs Magdy Mohiuddin on the crises facing the automotive sector, among others economic sectors, related to changes in the Customs Authority and procedures for (...)
Raya Information Technology achieved 25% sales growth during the first half (H1) of this year, having recorded EGP 453m in 2014. The company acquired 11.47% of the total annual returns of parent company Raya Holding.
Raya Information Technology (...)
Raya Trade is considering contracting with the Chinese group Haier to distribute its products on the local market through Raya's branches, which amount to over 85 branches nationwide.
Bassem Megahed, CEO of Raya Trade which is owned by Raya (...)