Orascom Development Egypt (ODE) announced today that its subsidiary Orascom for Real Estate S.A.E (ORE), has signed EGP 1.5 billion facility agreement with Commercial International Bank (CIB) to partially finance the development and help accelerate the construction of the launched phases at its flagship development O West, namely Whyte, Tulwa, Club Residences, Hillside and the O-Business District.
EFG Hermes, the leading investment bank franchise in Frontier Emerging Markets (FEM), announced today that its investment banking division successfully concluded advising Auf Group's founders and Tanmiya Capital Ventures (TCV) on the entry into a strategic transaction concerning Auf Group, a leading specialized Egyptian healthy snacks and coffee manufacturer and retailer, with UAE-based Agthia, one of the leading food and beverage companies in the region.
As part of Amazon Egypt’s commitment to enhance its shopping experience and provide customers in Egypt flexible and affordable payment options, Amazon Egypt (amazon.eg) is introducing installment plans through valU, the leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform in MENA, a subsidiary of EFG Hermes Holding. Amazon.eg customers who are also valU customers will be able to select the BNPL payment method on Amazon.eg store and choose their installment plan of choice, ranging from 6 to 60 months, without any down-payment.
valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, partners for the first time with Arab Developers Holding, a leading real estate developer in Egypt, to offer residents of its various developments installment solutions that cover home improvement and maintenance fees starting from the 1st of July 2022.
EFG Hermes, the leading investment bank franchise in Frontier Emerging Markets (FEM), announced that its Investment Banking division successfully closed the first issuance worth EGP 651.2 million of the EGP 3 billion securitization program for Bedaya Mortgage Finance, Egypt’s first non-bank online mortgage provider
valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today that Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair, and Abdul Majeed Abdulaziz Alhokair (“Alhokair Family”) have entered into an agreement to acquire a 4.99% stake in valU through a capital injection of USD 12.4 million, signifying a valuation of USD 247.4 million for the company.
Vortex Energy, a leading renewables-focused investment vehicle in Europe, managed by the private equity arm of EFG Hermes, has announced today that it invested to-date in Ignis c. €222m of equity capital, consequently fulfilling its terms of its partnership with Ignis that it initiated last year.
EFG Hermes, the leading investment bank franchise in Frontier Emerging Markets (FEM), announced today that its Investment Banking division has successfully completed advisory on Ali Alghanim and Sons Automotive Company’s USD 323 million Private Placement ahead of the Initial Public Offering (IPO) on Boursa Kuwait. The upcoming IPO marks a significant milestone for EFG Hermes, as this is going to be the Firm’s first IPO on the exchange where it acted as joint bookrunner for the offering.
FAS Labs, owned by Fawaz Abdulaziz Alhokair Co. (“Alhokair”), the leading franchise retailer in Saudi Arabia, and Arabian Centres Company (“ACC”), the leading owner, developer, and operator of lifestyle shopping centers in Saudi Arabia, have entered into a strategic partnership with valU for Consumer Finance S.A.E. (“valU”) on the 5th of June 2022. The agreement will accelerate the geographical expansion of the MENA region’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, providing digital consumer finance solutions in Saudi Arabia through FAS Finance.
EFG Hermes, the leading investment bank franchise in Frontier Emerging Markets (FEM), announced today that its Investment Banking division successfully closed an EGP 500 million bond issuance for EFG Hermes Holding subsidiary EFG Hermes Corp-Solutions. The transaction is part of a wider EGP 3 billion bond program for the leasing and factoring player.
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