Tag: Egypt

E-commerce website Amazon set to launch in Egypt in 2021

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EGYPT – American multinational technology company and e-commerce giant, Amazon, has revealed its intention to launch its Egypt website this year, to give entrepreneurs, business owners, and local sellers the opportunity to reach a larger number of customers nationwide. The company said the registration for local sellers would take place through the Amazon Seller Partner Center, a tool dedicated to managing their businesses. Amazon clarified that sales partners previously registered on Amazon’s Souq.com affiliate can access their accounts through the Amazon Seller Center. They will also be able to verify…

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Dairy giant Danone partners with FAO to build sustainable food systems in Egypt

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EGYPT – French multinational dairy company, Danone has signed a partnership with The UN-Food and Agriculture Organization (FAO) aiming at improving nutrition, agriculture practices and food safety across Egypt for more sustainable food systems. The collaboration involves exchanging the most recent information on developing food safety problems as well as sharing data on food consumption and nutritional intakes in the North African country. Using Egypt as the pilot nation, the parties will use the information in order to enhance awareness and encourage the adoption of better eating habits. Furthermore, the…

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Egypt’s contact-less grocery delivery platform GoodsMart raises US$3.6m for further expansion

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EGYPT – Egyptian grocery delivery platform GoodsMart, has raised US$3.6 million in a funding round led by Sawari Ventures. Founded in 2014, GoodsMart allows customers to browse thousands of premium grocery and home products from a variety of shops and suppliers, place orders, and have goods delivered to their door. On the surface, the company may look like any other grocery delivery startup but the overall user experience and operating model GoodsMart has is completely different. According to reports by Menabytes, its grocery delivery service is contactless as the users…

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

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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. It is important to note that Luxor is no guest in the food delivery scene as it has previously backed companies like Zomato, Glovo, and Gopuff. Elmenus is their first investment in the Middle East. Elmenus aims to use the funds to expand to more…

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Ecommerce platform Maxab raises US$40m Series A round to expand to other markets

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EGYPT – Maxab, a Cairo-based B2B ecommerce platform, has announced that it has raised US$40 million in a Series A round led by RMBV, a North African-focused impact investor. IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, Endeavour Catalyst, and Maxab’s previous investors Beco Capital and 4DX Ventures all participated in the purchase. The startup intends to use the fresh funding to grow across Egypt’s major cities by the end of the year, followed by other markets in the region. According to the Egyptian firm, the funds will be utilized to scale…

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E-commerce marketplace start-up Fatura secures US$3m in pre-series A round to expand offering

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EGYPT – Fatura, a Cairo-based ecommerce marketplace connecting FMCG wholesalers to retailers, has secured US$3 million in a pre-Series A round led by Sawari Ventures and Arzan Venture Capital. The round also saw participation from Egypt Ventures, EFG-EV, Cairo Angels, and Khwarizmi Ventures. The boost came after the company raised an unknown amount of money in a seed round in July 2020, led by Disruptech, Egypt’s first fintech-centric VC Fund, with participation from EFG EV, and Cairo Angels. With the new financing, Fatura will be able to expand its services…

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Egyptian Al Fayoum to launch first cream packed in aseptic cartons, Clover SA shuts down facility due to poor service delivery

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EGYPT – Egyptian dairy processor, Al Fayoum for Food Industries, is set to expand its product portfolio with a new aseptic line to pack feta cheese in 500g-size bricks and liquid cream in aseptic cartons. The move makes the company the first in the North African country to pack cream in aseptic cartons. It is important to note that, Al Fayoum commenced filling and packing Feta cheese in aseptic carton bricks (125 Slim and 250 Standard) designed by IPI in 2016. IPI supplies systems and materials for the aseptic packaging…

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Egypt based Agri-Fintech Mozare3 closes pre-seed funding round led by Algebra Ventures

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EGYPT – Egyptian Agri-Fintech platform Mozare3, has closed a seven-figure pre-seed funding round led by Algebra Ventures and Disruptech Ventures, with participation from EFG-EV, and a group of reputable angel investors. Mozare3 aims to roll out multiple fintech offerings, one of which is the launch of credit solutions to finance purchases of different products for farmers and their families. The startup was founded in 2020 by Hussein Abou Bakr and Tamer El-Raghy to serve over 20 million small farmers in Egypt by providing them with access to markets and credit.…

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Egypt’s sugar production to rise by 3.7% boosted by sugar beets output

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EGYPT – Egypt, one of the leading sugar producers in Africa is expected to registered a rise in output of the commodity in Marketing Year (2021/22) by approximately 2.6% to reach 2.85 million metric tonnes (MMT), as compared to the MY 2020/21 estimate of 2.78 MMT. Of this total forecast, 1.58 MMT of sugar will be derived from sugar beets, while 1.27 MMT will be sourced from sugarcane, indicates USDA in a GAIN report. The rise in production is attributed to the farmers expanding planted area to meet demand, following…

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Abu Dhabi-based IHC harnesses solar energy to power efficient agricultural production in Egypt

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EGYPT – International Holding Company (IHC), one of UAE’s leading diversified businesses, has invested AED 1.5 million (US$408,000) in construction of a pioneering solar-powered irrigation system in Egypt, to drive increased energy-efficient agricultural production. The Abu Dhabi-based conglomerate is undertaking the investment through its subsidiary, Al Hashemeya Company for Land Reclamation and Cultivation, reports Africa Business Communities. The pilot project will feature six wells spread over 500 acres, using photovoltaic system to help pump water onto 10,000 acres (4,050 hectares) of farmland in the Wadi Al-Natroun region of northern Egypt.…

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