رئيس مجلس الإدارة
سعيد اسماعيل
رئيس التحرير
مروة أبو زاهر

رئيس مجلس الإدارة
سعيد اسماعيل

رئيس التحرير
مروة أبو زاهر

Bank NXT Partners with Mindgate to Launch a Cutting-Edge Digital Platform

Bank NXT Partners with Mindgate to Launch a Cutting-Edge Digital Platform for Corporate Clients

Cairo, 28 November 2024

Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, is excited to announce a strategic partnership with Mindgate Solutions, a global leader in payment technology and transaction processing, to co-develop a digital platform tailored to the needs of corporate clients to provide them with seamless internet and mobile banking solutions. This collaboration marks a significant milestone in the bank’s ongoing commitment to delivering top-tier financial solutions backed by cutting-edge technology.

The new platform will leverage Mindgate’s advanced digital technologies and Bank NXT’s industry expertise to create an integrated and user-friendly interface that empowers corporate clients to manage their finances more effectively and efficiently. By offering a secure, intuitive, and scalable platform, this solution will streamline banking operations, enhance decision-making, and support the growth of corporate clients across industries.

The new digital platform for Bank NXT’s corporate clients offers comprehensive features to streamline financial operations. With robust corporate digital facilities, clients can efficiently manage transfers, payments, and payroll, ensuring seamless transactions. The platform also enables requesting corporate cards and the management of cheques, providing enhanced control over expenditures. Additionally, users benefit from powerful analytics and reporting tools, enabling informed decision-making through real-time insights into financial performance. These features empower businesses to optimize their financial processes and drive growth.

Tamer Seif, CEO and Managing Director of Bank NXT said, “Our collaboration with Mindgate Solutions marks a significant advancement in our commitment to delivering innovative digital solutions to our corporate clients. By integrating Mindgate’s advanced digital technologies with our banking expertise, we will offer a platform to enhance the efficiency and security of financial operations for businesses across Egypt with seamless internet and mobile banking experiences. This partnership reflects our dedication to empowering our corporate customers with the tools they need to thrive in a rapidly evolving financial landscape.”

Iman Badr, Deputy CEO – Consumer Banking, Marketing, and Financial Inclusion of Bank NXT, said, “Our collaboration with Mindgate Solutions represents a substantial step toward reshaping corporate banking in Egypt. This partnership is about more than efficiency; it’s about reimagining how businesses interact with their financial systems. By introducing intelligent digital tools, we aim to inspire a new level of convenience and flexibility, empowering our clients to focus on their strategic goals while we handle the complexities of financial management.”

George Sam, Co-founder & Business Head, Mindgate Solutions said, “This partnership with Bank NXT is a testament to our shared vision of empowering businesses through innovation. Our goal is to provide corporate clients with platform that simplifies financial operations, enabling them to focus on driving their strategic priorities and growth.”

Guhan Muthuswamy, Co-founder and Software Architect at Mindgate Solutions, added, “At Mindgate, we believe in leveraging technology to enable transformative experiences. This platform embodies our focus on scalability, security, and user-centric design, ensuring that corporate clients benefit from a seamless and intelligent solution that adapts to their evolving needs.”

The collaboration underscores both companies’ shared vision of empowering businesses through digital transformation. By leveraging the latest advancements in fintech and combining their strengths, Bank NXT and Mindgate are poised to redefine corporate banking for the future.

About Bank NXT

Bank NXT (formerly known as aiBANK) was established in 1974 as an investment and business bank and commenced its activities under the supervision of the Central Bank of Egypt in 1978 with a capital base of USD 40 million, which was later increased to EGP 1,987 million in 2020. Moreover, as per the decisions of the general assembly held on the 10th of October in 2021, and after the completion of the Bank’s acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5,000,000,003 and adjusted its ownership structure accordingly to accommodate both new and existing investors, as per the following:

EFG Holding S.A.E – (51%)

Egypt’s Financial Services and Digital Transformation Sub-Fund – (25%)

National Investment Bank – (24%)

The Bank offers banking services for individuals through its wide spectrum of retail banking products in addition to its corporate banking services for businesses and institutions through providing loan syndication services to companies and institutions looking to finance large national projects that support the economy and the Bank. The Bank is keen on supporting the growth of small and medium enterprises, which play a crucial role in Egypt’s overall economic and social development and provides investment and treasury services. The Bank also offers Islamic banking services, overseen by a solid Sharia-compliant body that ensures the Bank remains in line with all Islamic banking standards.

The Bank offers its services to its customers through its 34 branches nationwide. It is constantly working on expanding its geographical presence by opening new branches, with 2 new branches set to open this month. In addition, the bank is expanding its ATM network to ensure that it covers all key locations. The Bank is also committed to satisfying its customers by providing unique and competitive services and investing in its tech systems and human capital to improve the overall level of its banking services.

Egyptian Developers marks EGP 1.2bn sales milestone in 18 months

Egyptian Developers marks EGP 1.2bn sales milestone in 18 months, honoring employees for their exceptional contributions

Egyptian Developers reveals the strategy behind exceeding EGP 1.2bn in sales within 18 months

,Egyptian Developers establishes a prominent foothold in Shorouk City

recording EGP 1.2bn in project sales in just 18 months

,Egyptian Developers has announced record-breaking sales

.achieving over EGP 1.2bn in sales between early 2023 and mid-2024

This milestone underscores the company’s rapid emergence as a key player in Egypt’s real estate sector.

,Chairman Abdel Rahman Abu Zeid attributed this success to several strategic factors

.including innovative approaches to project development in Shorouk City, east Cairo

The company has focused on designing commercial

,and mixed-use spaces that redefine the concept of traditional malls

.creating modern and dynamic hubs that cater to diverse needs

,He highlighted the company’s unwavering commitment to delivering high-quality projects on time

adhering to exceptional standards in design and functionality while consistently meeting

.or surpassing deadlines

Moreover, Egyptian Developers strives to be a catalyst for growth in emerging cities

by introducing innovative commercial centers that create modern urban environments

.and significantly contribute to the development of these areas

,Abu Zeid emphasized the company’s unique strengths

.which have firmly established its leadership in Al-Shorouk City

These strengths include pioneering innovative approaches in commercial real estate

.by developing multi-purpose malls with contemporary designs that cater to evolving market demands

,He highlighted the company’s strong track record for reliability

.consistently delivering projects on or ahead of schedule while upholding superior quality standards

He noted, “We have succeeded in creating modern designs for our projects

by elevating the standard of mall designs with a contemporary approach that aligns with market trends

.and offers customers a unique shopping experience

,Our strategic vision focuses on developing modern cities through innovative malls

with the aim of contributing to the growth of new urban areas in Egypt by providing commercial and

.”mixed-use spaces that enhance urban living and support community development

,Dr. Makhlouf Abd Rabo, CEO of Egyptian Developers

,stated that the company has achieved an exceptional 90% customer satisfaction rate

.both before and after sales

,This metric allows the company to gauge customer expectations against the final product delivered

,revealing that clients were highly satisfied

.with no discrepancies between the promised and delivered outcomes

He added that maintaining high-quality standards remains a core principle

in all of the company’s projects pointed out that achieving such strong results in such a short period

.is primarily due to a clear vision, dream, and strategy that is shared by all employees of the company

,Every individual within Egyptian Developers is part of the company’s family

.with all departments working together to implement this ambitious strategy

He concluded that a special celebration was organized to honor all employees

for their efforts in achieving this success and their continued hard work throughout

.the year to maintain these remarkable results in such a short time

Zakat and Charities Fund Launches “Warmth and Reassurance” Campaign Across All Governorates‎

 Distribution of blankets, new clothing, and food items

Zakat and Charities Fund Launches “Warmth and Reassurance” Campaign Across All Governorates‎

Under the supervision of HE Prof. Ahmad At-Tayyeb, Grand Imam of Al-Azhar

,and ‎Chairman of the Zakat and Charities Fund Board of Trustees

“the Zakat and Charities Fund has announced the launch of the ‎‎”Warmth and Reassurance

Campaign for the 2025 Winter. This initiative aims to distribute ‎blankets, winter clothing, jackets, shoes

,for all ages, and food supplies to those eligible in ‎villages, rural areas

and remote regions across all governorates to protect them from ‎severe colds

and illnesses and provide the winter season necessities for them.‎

,In a statement issued today, Tuesday, November 26, 2024

“the Zakat and Charities Fund explained that the ‎‎”Warmth and Reassurance

.campaign seeks to distribute hundreds of thousands of ‎blankets, new winter clothing, and food items

This is part of the “Cover and Shelter” ‎Program, one of the Zakat and Charities Fund

,development initiatives aimed at supporting the most ‎vulnerable families, reassuring them

assisting them, and bringing joy to their hearts.‎

The Zakat and Charities Fund affirmed its commitment to directing Zakat to their legitimate ‎channels

The Zakat and Charities Fund affirmed its commitment to directing Zakat and charity funds

to their legitimate ‎channels and supporting deserving families across all governorates through various

.‎development programs

These programs aim to provide direct financial assistance to ‎families or individuals lacking

,the means to meet basic living needs, as well as diverse aid ‎for the needy, widows, the sick

,people with disabilities, and orphans, facilitating ‎marriage

,and securing medical treatment for patients, in line with the words of Allah ‎Almighty

,Charities are only for the poor and the needy, and those employed to collect ‎them”

,and for bringing hearts together, and for freeing captives, and for those in debt

.and ‎for the cause of Allah, and for the (stranded) traveler – an obligation (imposed) by Allah

‎And Allah is Knowing and Wise.” (Quran 9: 60).‎

:For more information

https://baitzakat.org.eg
Twitter: baitzakatEG
Instagram: baitzakat.eg
Facebook: baitzakatEG
YouTube: user-rs7gp8so2y ‎

EFG Hermes Completes Advisory on Sylndr’s EGP 370 Million Banks’ Working Capital Facility

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA) region, announced today that its investment banking division had completed advisory for an EGP 370 million working capital facility for Sylndr, Egypt’s leading online used cars player. The innovative structure of this transaction stands as Egypt’s first asset-backed working capital solution tailored specifically to the unique dynamics of Sylndr’s business model. This milestone highlights the commitment of Egypt’s banking sector to empowering  . .startups and SMEs with creative, scalable financial solutions

 

إي اف چي هيرميسSylndr is leveraging this financing facility to support its ambitious growth strategy and enhance its operational efficiency and scalability while solidifying its commitment to revolutionizing Egypt’s automotive industry. The transaction has been carefully structured to set a new standard for scalable, ring-fenced capital financing specifically tailored for Sylndr’s highly complex legal and financial framework that acts as a base for any new lender to scale up the structured facility.
Maie Hamdy, MD, Debt Capital Markets of Investment Banking at EFG Hermes, commented, “This transaction marks a significant shift not only for Sylndr but for Egypt’s growing startup ecosystem. Through this innovative, ring-fenced financing structure, we’ve provided Sylndr with the financial flexibility to scale confidently while ensuring the highest level of security for lenders. EFG Hermes remains committed to delivering dynamic financial solutions that foster growth and resilience for our clients, contributing to the broader economic transformation we’re witnessing across Egypt. We are excited to support Sylndr’s journey as it sets new standards in the online used-car market. We are proud to have utilized the inherent synergies within EFG Holding’s group of companies, having worked with EFG Corp-Solutions and Bank NXT as lenders on this transaction, utilizing the range of services we have to offer to serve our clients effectively.”
This financing facility aligns seamlessly with Sylndr’s mission to transform the used car market by building a trusted and transparent platform for buying, selling, and financing high-quality used vehicles. Sylndr is set to leverage this capital to improve customer experience, increase inventory diversity, and broaden financing options, positioning itself as Egypt’s premier destination for used cars.
Omar El Defrawy, Co-Founder and CEO of Sylndr, said, “This financing facility empowers us to unlock unprecedented growth while reinforcing our commitment to bring trust, transparency, and convenience to Egypt’s used car market. This milestone is a testament to Sylndr’s vision of offering differentiated mobility solutions, reshaping how people access affordable and reliable vehicles in Egypt’s growing market. We are particularly grateful to EFG Corp-Solutions, Bank NXT, and EG Bank for their invaluable support and confidence in our mission. Their dedication, along with the expertise of all parties involved, will enable us to expand our services, reach more communities, and offer more customers access to high-quality vehicles and seamless financing options. We look forward to continuing to transform the way people buy and sell cars in Egypt.”
EFG Hermes served as the sole financial advisor for the transaction. EFG Corp-Solutions, Bank NXT and EG Bank acted as lenders, amongst others. Adsero provided legal advisory services for Sylndr and Sarie-Eldin & Partners for the lenders.

About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a trailblazing financial institution that boasts a remarkable 40-year legacy of success in eight countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers an extensive array of financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a small and microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, PayTabs Egypt, a digital payment platform, as well as Bedaya for mortgage finance and Kaf for insurance as well as Fatura, a technology-backed B2B marketplace. Furthermore, the company delivers commercial banking solutions through Bank NXT, a leading provider of integrated retail, corporate, and Islamic banking products in Egypt.

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Pakistan | Kenya | Nigeria |
Learn more about us at www.efghldg.com
:For further information, please contact
May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
[email protected]
Omar Salama
Senior Communications Manager of EFG Holding
[email protected]
The EFG Holding Public Relations Team
[email protected]

Note on Forward-Looking Statements

In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.

About Sylndr

Founded in 2022, Sylndr is Egypt’s leading used car marketplace, providing a trusted, reliable, and transparent platform for consumers to buy, sell, and finance high-quality used vehicles. Driven by a mission to bring convenience and reliability to Egypt’s automotive sector, Sylndr is on the path of becoming a comprehensive 360-degree mobility solutions provider, expanding its unique offerings that support every aspect of consumers’ mobility needs.

NTG Developments launches The Node in New Cairo with over EGP 5bn in investments

 NTG Developments has announced the launch of its newest real estate project, The Node, located in one of the most strategic areas of New Cairo, with investments surpassing EGP 5 billion. This addition strengthens the company’s track record of successful and impactful projects in the real estate sector.

During a press conference, NTG also revealed the signing of strategic partnerships with several prominent collaborators. These partnerships include agreements with Engineer Ahmed Moharram, Chairman of the ACE Moharram-Bakhoum, Nader Fouda, co-founder of LDP+ Partners office, and Sherif Emad and Ahmed Gamal, founders of Boegow, a company under the Lxias Group that owns Long Black. These well-established entities bring a wealth of expertise in various fields, and will play a key role in supporting NTG Developments across all of its

future projects.
Eng. Ezzat Azmy, Chairman of NTG Developments, stated that the new project is part of the company’s strategic expansion plan, aiming to diversify its investment portfolio and establish a presence in distinguished strategic locations. Therefore, a site was selected that aligns with The Node project’s activities and meets the requirements of the target customers.
George Massad, Head of Sales at NTG Developments, highlighted that the project is situated directly on Mohamed Naguib Axis, placing it in a prime location within New Cairo. The site stands out for its proximity to key areas in the Fifth Settlement, being just 10 minutes from the American University in Cairo (AUC), 10 minutes from the German University in Cairo (GUC), two minutes from the Ring Road, two minutes from the Sokhna Road, and only five minutes from Golden Square. This strategic location ensures easy access to all major roads and surrounding routes.
For his part, Shenouda Zarei, CEO of NTG Developments, said that the project is a mixed-use development, combining commercial, administrative, and medical spaces, with a ground floor and four additional floors. It will offer administrative units starting from 36 sqm, commercial spaces from 46 sqm, and medical units starting from 36 sqm. The project will also feature two parking garages to accommodate all visitors. The architectural design is modern, catering to the needs of both the unit owners and their visitors.
He further emphasized that the project will provide a range of services to ensure a well-rounded, integrated environment. The Node will include electric vehicle charging stations, a children’s playground, a creative center, two administrative entrances, three main gates, a 150-meter-long promenade, and a food court area. The project is expected to be completed and delivered by 2028.
Nasser Gad, Vice Chairman of NTG Developments, disclosed that the new project marks the company’s third initiative following the Evolve Tower development in the New Administrative Capital. Located in the prestigious Central Business District (CBD), which is home to iconic landmarks such as the Iconic Tower and the Chinese Towers, the project spans 3,500 sqm. It comprises two towers connected by glass bridges, rising 16 stories.
Additionally, Gad highlighted the company’s second project, Intown, situated in New Cairo on North 90th Street, just minutes from Mohamed Naguib Axis. The project covers 6,068 sqm and features a ground floor, three floors, and two underground levels. It will include a mix of commercial, administrative, and medical units in various sizes.
Shahat Hindi, Executive Managing Director of NTG Developments, emphasized that the diverse investment opportunities in the Egyptian real estate market, coupled with robust and genuine demand, are key drivers for the expansion plans of financially strong companies. Market research shows that projects which carefully consider every detail and integrate all essential success factors are more likely to succeed. This is precisely what NTG Developments is implementing in its new project, which is expected to attract significant interest from the target audience.
Eng. Khaled El Hegresi, Director at ACE Moharram-Bakhoum, stated that his office will be overseeing the execution of The Node project. He highlighted that the project aligns with all the criteria his office considers when selecting projects, including its strategic location, a well-defined execution plan, and the backing of a solid real estate entity like NTG Developments.
He added, “We are honored to collaborate with NTG Developments on this new project, and we will apply all our expertise and efforts to ensure that it reflects the prestigious name of ACE Moharram-Bakhoum, in line with NTG’s impressive track record and the quality they guarantee their clients. The project will adhere to the highest standards of excellence.”
Eng. Nader Fouda, co-founder of the LDP+ Partners office, explained that his office is acting as the engineering consultant for the project. With a wealth of experience and a track record of winning numerous international awards in architectural design, the office is responsible for designing The Node project.
Fouda emphasized that the office has developed a creative and unique architectural design that optimally utilizes the project’s location and fully maximizes the available space, ensuring an exceptional experience for all who visit.
He went on to note that the land’s distinct and remarkable location offers flexibility and opportunities for innovation in design, empowering the real estate designer to craft a unique and standout project. Additionally, NTG’s esteemed reputation only strengthens the collaborative efforts between both parties.
Sherif Emad, co-founder of Boegow, stated that his company is currently managing the marketing efforts for NTG, along with rebranding and refreshing the company’s visual identity. This initiative aligns with NTG’s expansion strategy and the introduction of its impressive project portfolio. Boegow is focused on rebranding NTG to build stronger client trust and establish its reputation for quality and excellence in its developments.

FOO PARTNERS WITH ENOVATE TO FURTHER DIGITAL TRANSFORMATION IN EGYPT

FOO PARTNERS WITH ENOVATE TO FURTHER DIGITAL TRANSFORMATION IN EGYPT

.The partnership is set to expand eNovate’s delivery of integrated, end-to-end digital solutions in Egypt

,FOO, the award-winning B2B Software as a Service (SaaS) solutions provider

,has partnered with eNovate (formerly known as eCards)

,Egypt’s premier provider of cutting-edge digital payment solutions

.to build upon eNovate’s existing portfolio of products and services

,eNovate is an independent subsidiary of eFinance Investment Group (EFIG)

.Egypt’s leading investment management firm

,Originally established in 2009 as EFIG’s card services division, it has since evolved to deliver comprehensive

,integrated digital payment solutions for a range of clients

;including fintechs and financial institutions; ministries and governmental entities

.transportation authorities; and NGOs

,With more than 55 million cards issued to date, and millions of transactions processed annually for Meeza

.VISA and Mastercard, eNovate continues to position itself at the forefront of Egypt’s digital payment ecosystem

,eNovate has strategically partnered with FOO to enhance its portfolio by leveraging FOO’s expertise

,extensive range of services, and innovative approach to product development. FOO’s modular platform

,built on a customizable suite of micro-services

enables the delivery of SaaS products across the financial services spectrum – from digital onboarding

.to digital banking – with unparalleled levels of flexibility, scalability and security

.Through this partnership, eNovate will also deliver Fintech as a Service (FaaS) solutions

,Designed to help fintechs rapidly launch and scale their operations

.FOO’s advanced ‘out-of-the-box’ FaaS solution streamlines the development process

,This approach drastically reduces the time and resources needed to bring fintech products to market

.enabling companies to move from concept to deployment within months, rather than years

,By providing a comprehensive, scalable platform

,this collaboration empowers fintechs across Egypt to focus on innovation and growth

.accelerating their path to success in the country’s dynamic financial sector

,Both companies share a strong commitment to driving digital transformation

.both within Egypt and the broader payment ecosystem

,This collaboration will build on eNovate’s success to date, to further the delivery of fully compliant

.end-to-end solutions that meet the diverse needs of its clients and their customers

,This ongoing partnership between FOO and eNovate includes several key projects

.the first of which is an end-to-end digital solution for universities across Egypt

,Integrated with each university’s learning management system

it will enable students to complete a range of actions – from payments to identity verification – via one easy-to-use app.

.Further significant projects are to be announced in due course

:Ghady Rayess, Co-founder and Managing Director at FOO, commented

,At FOO, innovation is integral to our approach. We are proud to partner with eNovate, a true industry trailblazer”

.to contribute to the remarkable transformation taking place in Egypt’s financial services sector

,With the support of the Central Bank of Egypt (CBE)

we are committed to delivering robust financial solutions that will not only strengthen eNovate’s position

.”as a leading innovation hub, but also further digital transformation across Egypt

.Nashwa Kamel, CEO at eNovate, commented: “We are delighted to be working with FOO

We look forward to continuing this partnership, driving further innovation

.”and providing more opportunities for our clients and their customers

About FOO

,FOO is an award-winning, B2B Software as a Service (SaaS) solutions provider, headquartered in the UAE

.that specializes in empowering businesses through digital transformation

,FOO provides innovative fintech solutions, built entirely in-house

that optimize digital capabilities for clients across diverse industries

.and enable them to deliver an unparalleled user experience

,FOO works with banks, fintech companies and key retailers across the MENA region

.including Mastercard, Visa, Benefits, Zain Group, PwC and MAF

FOO’s innovative platform is modular, built on digital micro-services that can be assembled to meet the specific requirements of each client.

,This approach, coupled with extensive regional experience

.enables FOO to create super personalized digital products with a fast time to market

,FOO’s key products include solutions for remittances, digital wallets, tokenized transactions,

.fully automated micro-lending and BNPL

About eNovate

.eNovate, a subsidiary of eFinance Investment Group, is a leading innovator in the digital payment space

,With a legacy of issuing over 55 million cards and facilitating millions of daily transactions

,eNovate has established itself as a trusted leader in card issuance, personalization

.and management across various payment schemes

,Our comprehensive digital infrastructure and advanced tools offer unparalleled speed, security

.and convenience, ensuring a seamless and relevant customer experience

As a fully accredited provider, eNovate empowers businesses to optimize their payment operations

.and unlock their full potential

.Our solutions streamline critical processes supporting a digitally-centric era fueled by fintech advancements

eNovate remains committed to delivering tailored digital payment solutions that foster growth

.and prosperity, helping individuals and organizations thrive financially in an increasingly connected world

e& Egypt Enhances Business Agility with Cisco-Powered SD-WAN

e& Egypt Enhances Business Agility with Cisco-Powered SD-WAN

Cairo, Egypt 21 November 2024: e& Egypt announced today the launch of its new managed service

.for business customers, powered by Cisco’s software-defined wide area network (SD-WAN) technology

,The service is designed to meet the evolving needs of businesses in Egypt by offering them enhanced connectivity

.increased security, and optimized network performance

This new service will enable businesses of any size to accelerate digital transformation

,with an innovative networking solution that simplifies management, reduces costs

,and enhances overall network agility. Utilizing Cisco’s Secure access service edge SASE solution

,the new SD-WAN features integrated security, application optimization, multi-cloud connectivity

.and embedded analytics

.Our collaboration with Cisco enables us to bring top-tier SD-WAN offerings to the Egyptian market”

,As a leader in innovative networking solutions

,”we are proud to provide cutting-edge technology solutions that meet the diverse needs of our business customers

.said Amr Fathy, Chief Technology and Information Officer at e& Egypt

,Understanding the key role of SD-WAN technology in driving digital resilience

.e& Egypt plans to deliver swift deployment and customization to meet clients’ unique requirements

e& Egypt has invested in expanding resources

To enhance its service capabilities, e& Egypt has invested in expanding resources

.and expertise to manage complex network environments

,Its team of skilled professionals will support customers in maximizing their technology investments

.ensuring consistent service delivery and uninterrupted operations

,Businesses can now easily connect, protect, manage”

,”and scale their networks using e& Egypt’s fully managed SD-WAN solution with embedded security and analytics

.said Sherif El Khouly, Chief Business Officer at e& Egypt

Our collaboration with e& Egypt to launch their Managed SD-WAN Service is a significant step”

.towards empowering businesses with agile and secure networking solutions

,Together, we help enable enterprises to thrive in an increasingly digital world

,”providing them with the tools to enhance connectivity, improve efficiency, and drive innovation

.Gordon Thomson, Vice President, EMEA Service Provider at Cisco added

Vertiv Predicts Industry Efforts to Support, Enable, Leverage and Regulate AI

Data Center Trends 2025: Vertiv Predicts Industry Efforts to Support, Enable, Leverage and Regulate AI

Innovation in powering and cooling AI racks, management of energy consumption and emissions all to be a focus in new year

,Dubai, UAE – 21 November, 2024: AI continues to reshape the data center industry

,a reality reflected in the projected 2025 data center trends from Vertiv (NYSE: VRT)

.a global provider of critical digital infrastructure and continuity solutions

,Vertiv experts anticipate increased industry innovation and integration to support high-density computing

.regulatory scrutiny around AI, as well as increasing focus on sustainability and cybersecurity efforts

-Our experts correctly identified the proliferation of AI and the need to transition to more complex liquid- and air”

cooling strategies as a trend for 2024, and activity on that front is expected to further accelerate

.and evolve in 2025,” said Vertiv CEO Giordano (Gio) Albertazzi

With AI driving rack densities into three- and four-digit kWs, the need for advanced”

,and scalable solutions to power and cool those racks, minimize their environmental footprint

.and empower these emerging AI Factories has never been higher

.”We anticipate significant progress on that front in 2025, and our customers demand it

:The 2025 trends most likely to emerge across the data center industry, according to Vertiv experts

:Power and cooling infrastructure innovates to keep pace with computing densification

,In 2025, the impact of compute-intense workloads will intensify

.with the industry managing the sudden change in a variety of ways

Advanced computing will continue to shift from CPU to GPU to leverage the latter’s parallel computing power

.and the higher thermal design point of modern chips

This will further stress existing power and cooling systems and push data center operators toward cold-plate

.and immersion cooling solutions that remove heat at the rack level

,Enterprise data centers will be impacted by this trend

.as AI use expands beyond early cloud and colocation providers

 AI racks will require UPS systems, batteries, power distribution equipment

and switchgear with higher power densities to handle AI loads that can fluctuate from a 10% idle to a 150% overload in a flash.

,Hybrid cooling systems, with liquid-to-liquid, liquid-to-air and liquid-to-refrigerant configurations

will evolve in rackmount, perimeter and row-based cabinet models that can be deployed in brown/greenfield applications.

Liquid cooling systems will increasingly be paired with their own dedicated, high-density UPS systems to provide continuous operation.

,Servers will increasingly be integrated with the infrastructure needed to support them

,including factory-integrated liquid cooling, ultimately making manufacturing and assembly more efficient

.deployment faster, equipment footprint smaller, and increasing system energy efficiency

 Data centers prioritize energy availability challenges: Overextended grids

and skyrocketing power demands are changing how data centers consume power.

,Globally, data centers use an average of 1-2% of the world’s power

.but AI is driving increases in consumption that are likely to push that to 3-4% by 2030

,Expected increases may place demands on the grid that many utilities can’t handle

attracting regulatory attention from governments around the globe – including potential restrictions on data center

builds and energy use – and spiking costs and carbon emissions that data center organizations are racing to control.

These pressures are forcing organizations to prioritize energy efficiency and sustainability even more than they have in the past.

,In 2024, we predicted a trend toward energy alternatives and microgrid deployments

,and in 2025 we are seeing an acceleration of this trend

with real movement toward prioritizing and seeking out energy-efficient solutions

.and energy alternatives that are new to this arena

.Fuel cells and alternative battery chemistries are increasingly available for microgrid energy options

Longer-term, multiple companies are developing small modular reactors for data centers

.and other large power consumers, with availability expected around the end of the decade

.Progress on this front bears watching in 2025

 :Industry players collaborate to drive AI Factory development

,Average rack densities have been increasing steadily over the past few years

,but for an industry that supported an average density of 8.2kW in 2020

.the predictions of AI Factory racks of 500 to 1000kW or higher soon represent an unprecedented disruption

,As a result of the rapid changes, chip developers, customers, power and cooling infrastructure manufacturers

utilities and other industry stakeholders will increasingly partner to develop

.and support transparent roadmaps to enable AI adoption

This collaboration extends to development tools powered by AI to speed engineering

.and manufacturing for standardized and customized designs

In the coming year, chip makers, infrastructure designers and customers will increasingly collaborate

.and move toward manufacturing partnerships that enable true integration of IT and infrastructure

:AI makes cybersecurity harder – and easier

,The increasing frequency and severity of ransomware attacks is driving a new

.broader look at cybersecurity processes and the role the data center community plays in preventing such attacks

,One-third of all attacks last year involved some form of ransomware or extortion

,and today’s bad actors are leveraging AI tools to ramp up their assaults, cast a wider net

.and deploy more sophisticated approaches

,Attacks increasingly start with an AI-supported hack of control systems

embedded devices or connected hardware and infrastructure systems that are not always built to meet the same security requirements as other network components.

.Without proper diligence, even the most sophisticated data center can be rendered useless

,As cybercriminals continue to leverage AI to increase the frequency of attacks, cybersecurity experts

network administrators and data center operators will need to keep pace by developing their own sophisticated AI security technologies.

,While the fundamentals and best practices of defense in depth and extreme diligence remain the same

.the shifting nature, source and frequency of attacks add nuance to modern cybersecurity efforts

:Government and industry regulators tackle AI applications and energy use

,While our 2023 predictions focused on government regulations for energy usage

.in 2025, we expect the potential for regulations to increasingly address the use of AI itself

Governments and regulatory bodies around the world are racing to assess the implications of AI

.and develop governance for its use

,The trend toward sovereign AI – a nation’s control or influence over the development

deployment and regulation of AI and regulatory frameworks aimed

at governing AI – is a focus of The European Union’s Artificial Intelligence Act

.and China’s Cybersecurity Law (CSL) and AI Safety Governance Framework

,Denmark recently inaugurated their own sovereign AI supercomputer

and many other countries have undertaken their own sovereign AI projects

,and legislative processes to further regulatory frameworks

,an indication of the trajectory of the trend. Some form of guidance is inevitable

.and restrictions are possible, if not likely

,Initial steps will be focused on applications of the technology

,but as the focus on energy and water consumption and greenhouse gas emissions intensifies

.regulations could extend to types of AI application and data center resource consumption

,In 2025, governance will continue to be local or regional rather than global

.and the consistency and stringency of enforcement will widely vary

.For more information on these 2025 data center trends, visit Vertiv.com

About Vertiv

Vertiv (NYSE: VRT) brings together hardware, software, analytics

,and ongoing services to enable its customers’ vital applications to run continuously

.perform optimally and grow with their business needs

,Vertiv solves the most important challenges facing today’s data centers

,communication networks and commercial and industrial facilities with a portfolio of power

.cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network

.Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries

.For more information, and for the latest news and content from Vertiv, visit Vertiv.com

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995,

.Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act

These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein.

,Readers are referred to Vertiv’s filings with the Securities and Exchange Commission

including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q

.for a discussion of these and other important risk factors concerning Vertiv and its operations

,Vertiv is under no obligation to, and expressly disclaims any obligation to

.update or alter its forward-looking statements, whether as a result of new information, future events or otherwise

:Media Relations

Nada Aref

BEYOND Marketing & Communications

[email protected]

e& Business Signs 5 Strategic Partnerships to Provide Comprehensive Solutions

To Strengthen Its Role as a Key Partner in Supporting Business Growth

e& Business Signs Five Strategic Partnerships to Provide Comprehensive Solutions for the Business Sector in the Egyptian Market

Cairo, 20 November 2024: e& Business, by e& Egypt a leader in telecommunications

,and information technology, announced the signing of five strategic partnerships with WUZZUF

.Forasna, Bosta, Money Fellows, and Lynkrs

These partnerships aim to provide a range of integrated services

,and solutions to the business sector in the Egyptian market through Instabusiness

.a newly launched, innovative application unveiled at GITEX Global in Dubai

,Instabusiness is set to revolutionize how businesses benefit from e& Business services

.offering a diverse range of solutions on a user-friendly platform

This initiative aligns with e& Business‘s strategy to strengthen its position as a key partner in supporting businesses of all sizes and sectors.

,The partnerships enable e& Business to expand its offerings beyond technological solutions

,integrating services in logistics, shipping, recruitment, and finance

.reinforcing its role as a comprehensive platform supporting business growth across various industries

The collaborations provide access to an expansive customer base exceeding 70,000 business accounts

.and 2 million users, opening new opportunities for partner growth and customer acquisition

.WUZZUF and Forasna: Discounts on recruitment packages, simplifying talent acquisition

,Bosta: Competitive rates and exclusive discounts on local deliveries

.empowering small businesses with effective logistics solutions

.Money Fellows: Flexible personal financing options tailored to meet diverse customer needs

 Lynkrs: Discounts on content creation and media buying services, boosting small businesses’marketing

.efforts

El-Khouly: These partnerships represent a strategic step in e& Business’s journey

:Sherif El-Khouly, Chef Business Officer of e& Egypt, commented

These partnerships represent a strategic step in e& Business’s journey to deliver integrated solutions”

.that meet the needs of businesses of all sizes

By collaborating with our partners, we enhance the value of our services

.”and expanded it to include essential areas like recruitment, finance, logistics, and digital marketing

:He added

,The Instabusiness application is a key tool to support this goal. With its user-friendly interface”

it enables businesses—from startups to large enterprises—to access a diverse range of services

.”and benefit from exclusive offers provided by e& Business in collaboration with our partners

:El-Khouly concluded

.At e& Egypt, we remain dedicated to continuous innovation”

,We explore every opportunity to develop our services, expand our partnerships

,and meet the evolving needs of the Egyptian market innovatively

.”solidifying our position as a strategic partner in business growth and development

eFinance enhances its Pure Storage offering to Deliver Advanced Data Storage Solutions

eFinance enhances its Pure Storage offering to Deliver Advanced Data Storage Solutions, Including Next-Gen STaaS

,eFinance, a technology Service Provider company within the eFinance Investment Group

,has expanded its strategic partnership with Pure Storage

.the IT pioneer that delivers the world’s most advanced data storage technology and services

This landmark collaboration will enhance eFinance’s data storage

and management offerings for Kubernetes-based applications

.and support customer cloud adoption even further in the Egyptian market

,Through this expanded strategic partnership

eFinance’s cloud computing division will offer a comprehensive portfolio to customers

:eFinance’s cloud computing division will offer a comprehensive portfolio to customers

,enhanced data protection, backup and recovery, auto-scaling capabilities, multi-cloud flexibility

,and support to unify container data for containerized applications

.tailored to meet the needs of modern applications

The increased collaboration will also strengthen eFinance’s position

,as a leading provider of Infrastructure as a Service (IaaS), Platform as a Service (PaaS)

.and Data as a Service (DaaS) offerings across multi-cloud environments

.They are able to offer solutions to bolster data security and business continuity across all cloud platforms

This strategic alliance marks a major step in eFinance Cloud’s mission to deliver cutting-edge cloud solutions

.that address the growing demands of its clients which include cloud adoption and containerization

,Ibrahim Sarhan, Chairman and Managing Director of eFinance Investment Group

emphasized the group’s commitment to modern and cutting-edge storage solutions

.and consumption models, backed up Service Level Agreements

He pointed out that the solutions and services provided are designed

,for large-scale institutions in both the public and private sectors

.with a focus on the sensitivity and importance of the data being stored

He further noted that the group is dedicated to integrating its various companies

,and services to provide the best technological solutions

.contributing to Egypt’s competitive digital transformation

,This aligns with the group’s vision to introduce the latest global technologies

.ensuring Egypt’s digital landscape matches the world’s leading countries in digital innovation

:Omar Akar, VP Emerging, Pure Storage commented

.We’re thrilled to partner with eFinance to introduce Portworx by Pure Storage to the Egyptian market”

This collaboration empowers eFinance to provide its customers with advanced capabilities to automate, protect,

.and unify container data for Kubernetes applications in any location

.”The increased offering bolsters their opportunities and will further delight customers

Milestone Developments contracts with ACE MoharramBakhoum

Milestone Developments contracts with ACE Moharram Bakhoum to enhance The CORD Business Complex’s competitive edge

Milestone Developments Teams Up with ACE Moharram Bakhoum for structural

and electromechanical designs of The CORD Business Complex

Milestone Developments forms strategic partnership with ACE Moharram.Bakhoum

to handle designs for The CORD Business Complex

Milestone Developments has announced a partnership with ACE Moharram.Bakhoum

.(headed by Prof. Mourad Michel Bakhoum)

The firm will serve as the consultant for structural

.and electromechanical designs of the flagship project, The CORD Business Complex

This collaboration is part of Milestone Developments’ strategy to enlist top-tier professionals and

entities with extensive track records in various fields to ensure the project is executed to the highest

.standards of efficiency and quality

The agreement was signed by Mr. Mohamed Fathy, CEO of Milestone Developments

,The agreement was signed by Mr. Mohamed Fathy, CEO of Milestone Developments

,and Prof. Mourad Michel Bakhoum, Vice Chairman of the ACE Moharram.Bakhoum

.in the presence of senior officials from both companies

Commenting on the partnership, Mr. Mohamed Fathy stated that this agreement

is a continuation of a series of collaborations with strong success partners

.for The CORD Business Complex, further enhancing the project’s investment value

,Fathy remarked, “Excellence begins with selecting exceptional success partners with proven expertise

which is why we chose to collaborate with ACE Moharram-Bakhoum. As one of the most respected

,and renowned engineering consultancy firms in the real estate sector

.their involvement marks a significant milestone for our project

Milestone Developments remains committed to partnering

with leading consultants across all disciplines to ensure

The CORD Business Complex achieves the highest standards

.”and solidifies its position in the market

He noted that the partnership with ACE Moharram-Bakhoum encompasses the development of

,structural designs alongside electromechanical designs

.including electrical systems, mechanical works, fire protection, and drainage systems

These critical components play a key role in enhancing the project’s quality and elevating it to a superior level.

He noted that a previous agreement had been signed with Raef Fahmi Architects to handle the project’s

,designs, as well as with Kerdany Advisory & Development (KAD), which provides a range of services

,including preparing the finishing and operating manuals for tenants, managing commercial centers

.and supervising service providers

He disclosed that these partnerships with prominent names enhance

the company’s ability to deliver a standout project that elevates

.the efficiency of the entire area where it is located

,The project will serve as a landmark and a significant point of reference in West Cairo

.bringing together top-tier companies across various fields

He elaborated that The CORD Business Complex spans over 5 feddans in a prime location overlooking

the 26th of July Corridor, adjacent to Dolphin Mall, and just five minutes away from Mall of Arabia and

Sheikh Zayed City. The company prioritizes selecting strategic

,and dynamic locations for its projects to ensure high occupancy rates and

.consequently, the highest return on investment for its clients

,Prof. Mourad Michel Bakhoum, Vice Chairman of ACE Moharram–Bakhoum

.expressed his pride in collaborating with Milestone Developments on this distinguished project

,He stated, “We are proud to partner with Milestone Developments on this exceptional project

and we promise to deliver the best engineering solutions to ensure the company’s vision of creating a

.”pioneering project that meets the highest standards of quality and efficiency

He stated that his company is highly selective when it comes to the real estate entities it partners with

.and the projects it associates its name with, following a strict set of criteria

,These criteria must be met by both the developer and the project

.all of which are thoroughly satisfied by Milestone Developments and The CORD Business Complex

Milestone Developments was founded by Sheikh Zoaar Bin Ayed Al Ajmi

,and Sheikh Mohammed Zoaar Al Ajmi, who is also a member of the Egyptian-Saudi Business Council

.along with Mr. Nagy Ismail, Vice Chairman

The company operates under the umbrella of Areej Al-Khaleej Group in Saudi Arabia and is entirely Saudi-owned.

,It has been a major player in the Saudi market since 1979 through its subsidiaries

,including Al Multaqa Real Estate company and Areej Al-Khaleej car rental company

,which has 90 branches across the Kingdom

.in addition to Mohamed Bin Zoaar Showrooms in Riyadh and other companies in various fields

Raya Holding Reports Record-Breaking 3Q 2024 Results

Raya Holding Reports Record-Breaking 3Q 2024 Results

Raya Holding for Financial Investments announced its consolidated

.and standalone financial results for the third quarter ending September 30, 2024

The results highlight the company’s remarkable financial performance

.and growth despite challenging economic conditions, showcasing its resilience and strategic vision

Raya Holding records a increase in group revenues on an annual basis

,Raya Holding reported a 42.4% year-on-year increase in group revenues

.reaching EGP 32.3 billion in the first nine months of 2024

,This growth was driven by strategic initiatives aimed at enhancing foreign currency revenues

,which constituted 30% of total turnover. Additionally, gross profit rose to EGP 6.8 billion

,representing a healthy year-on-year growth of 52.6%

.with the gross profit margin improving by 1.4 points to reach 21.1%

,EBITDA (Earnings Before Interest, Taxes, Depreciation

,and Amortization) increased by 67.1% year-on-year to EGP 3.7 billion

.with the EBITDA margin improving by 1.7 points to reach 11.5%

,Net income before minority interests grew 161% year-on-year to EGP 1.3 billion

.reflecting a significant increase in the net profit margin to 4%, up 1.8 points

,During the third quarter of 2024, Raya Holding achieved record-breaking results

.with revenues reaching EGP 12.2 billion, marking a 49.6% increase compared to 3Q 2023

,Gross profit for the quarter amounted to EGP 2.5 billion, up 63.4% year-on-year

.with a gross profit margin of 20.3%, reflecting an improvement of 1.7 points

,EBITDA for 3Q 2024 grew by 80.6% year-on-year to EGP 1.3 billion, with an EBITDA margin of 10.9%

,up 1.9 points. Net income before minority interests reached EGP 514 million

.representing a 270% year-on-year increase, with a net profit margin of 4.2%, up 2.5 points

.The results also highlighted the outstanding performance of Raya Holding’s big 4 portfolio companies

,Raya Trade contributed EGP 13 billion, achieving a 34% year-on-year growth

,while Raya Information Technology recorded EGP 7.5 billion

.reflecting a 58% growth compared to the previous year

,Aman Holding generated EGP 4.3 billion, a 35% year-on-year increase

.and Raya Customer Experience achieved revenues of EGP 1.9 billion, marking a 38% growth

,Raya Holding’s strong financial performance reflects its commitment to operational efficiency

.innovation, and expanding its presence across high-growth sectors

,Despite challenging economic conditions

the company continues to leverage its diversified portfolio to deliver sustained growth and create value for shareholders.