EFG Finance Announces Strategic Divestment from PayTabs Egypt to Optimize Operational Efficiency
EFG Finance, an EFG Holding company and its non-bank financial institution’s arm, has announced its strategic divestment from PayTabs Egypt as part of its ongoing initiative to streamline operations and achieve greater efficiencies across its portfolio. EFG Finance will sell its 51% stake in PayTabs Egypt to PayTabs Global for an undisclosed amount, which is not expected to have a material impact on the Group’s financial position.
Aladdin ElAfifi, CEO of EFG Finance
Aladdin ElAfifi, CEO of EFG Finance, commented: “Our divestment from PayTabs Egypt represents a strategic step in refining our operational focus. By reallocating resources from non-core assets, we enhance our ability to drive sustainable growth and innovation in key areas. This decision aligns with our long-term strategic objectives and commitment to delivering value to our stakeholders.”
EFG Finance will continue to explore opportunities that align with its mission of providing innovative financial solutions in a dynamic market environment. The vertical remains dedicated to focusing its efforts on delivering comprehensive financial services to clients, both individuals and businesses of all sizes. By prioritizing innovation and adaptability, EFG Finance aims to equip its clients with the tools and solutions they need to thrive in an ever-changing economic landscape. This commitment to excellence ensures that EFG Finance will consistently offer tailored and cutting-edge financial products that support growth and success.
A British Father Faces the Tragedy of His Missing Children Amid Authorities’ Indifference
Adam Abraham, 38, has been living a relentless nightmare for more than seven months, desperately searching for his two children who vanished on July 31 last year after their mother cut all contact and disappeared without a trace.
Born in London and a fashion business owner, Adam had separated from his former partner, Trinidad-born Cheri King, ten years ago, yet they maintained an amicable relationship for the sake of their children, 13-year-old Haris and 11-year-old Maya. The children lived with their mother in Kew, southwest London, during the week and spent weekends and school holidays with their father and his new wife Emily at their home in Richmond.
The children maintained daily phone contact with their father and paternal grandmother until July 31, when Adam found their phones switched off. After days of unsuccessful attempts to reach them or their mother, he went to their home in Kew only to find it completely empty, with no sign of their whereabouts.
Adam immediately began searching for his children, only to discover that Cheri had not contacted any family or friends for weeks and had been struggling with depression before her disappearance. When he reached out to their school, he was shocked to learn that they had been withdrawn without his knowledge.
Despite filing reports with the police and social services, he was repeatedly met with the same response: since he does not have legal custody, authorities are unable to provide him with any information, leaving him feeling helpless in the face of bureaucracy that prevents him from even confirming their safety.
Speaking about his ordeal, Adam said: “Every day without my children is a living nightmare. I feel lost, helpless, and completely broken, not knowing if they are safe, if they are scared, or if they even understand what’s happening. The thought of Haris and Maya being taken away from everything they know, without warning, without a choice, haunts me. I can’t begin to imagine how confused and afraid they must feel, and it kills me that I can’t be there to protect them. No parent should ever have to go through this—fighting just to know if their children are okay while those in power turn a blind eye. The justice system is failing us, and I am desperate for answers before it’s too late.”
Adam is now making an urgent appeal to the authorities to help locate his children or at least confirm their safety, as he finds himself in a desperate situation with no official support, lost in uncertainty and fear.
Will the authorities step in to end this father’s anguish, or will bureaucracy continue to stand in the way of a man simply searching for his children?
Trump’s tariffs Tuesday is here and the levies are reshaping the global investment landscape in real time, warns the CEO of one of the world’s largest independent financial advisory and asset management organizations.
Nigel Green of deVere Group is weighing in as the US imposes sweeping 25% tariffs on Canada and Mexico, an additional 10% on Chinese imports, and a looming threat against the European Union, and as markets brace for increased volatility.
These are not theoretical concerns—they’re immediate, transformative forces that demand action from investors who seek to stay ahead,” he says.
Inflation is set to surge as the cost of everyday goods rises, squeezing corporate margins and reshaping supply chains across industries.
Forecasts from deVere Group indicate that inflation in the US could climb by as much as 2.1%, “putting pressure on the Federal Reserve to maintain a more hawkish stance for longer than markets had anticipated,” notes the deVere Group chief executive.
Investors must reassess their positioning in light of these developments.
This isn’t a time to sit on the sidelines. An expected tariff-fuelled inflationary environment demands strategic asset allocation, and those who act now will be better placed to turn volatility into opportunity.
The market implications are vast. The US dollar, often buoyed by trade tensions, is likely to maintain resilience as investors flock to perceived safety.
Commodities, already in high demand, could experience further price surges, benefiting energy and industrial sectors.
Meanwhile, domestic manufacturing stocks stand to gain as supply chains adjust to new tariff realities.
At the same time, businesses reliant on imports face rising costs, forcing either a margin squeeze or price increases for consumers.
Tech, retail, and automotive sectors will need to navigate this environment carefully. Those who take a proactive approach—securing exposure to companies with strong pricing power or tapping into alternative markets—will be best positioned to thrive.
The additional 10% tariff on Chinese goods compounds existing economic frictions, amplifying costs for industries that rely on China’s vast manufacturing infrastructure.
From Asia to Europe, Latin America to Africa, and beyond, businesses and investors must anticipate and adjust to a world where supply chain recalibrations are no longer optional, but essential.
He continues: As inflationary pressures are likely to mount, global portfolios must adapt.
Sectors that thrive in such an environment—commodities, energy, and industrials—are poised for strong performance.
Companies that can pass on costs without eroding demand will outshine competitors struggling to maintain margins.
Investors who are selective and strategic will capture outsized gains. Those who hesitate risk being left behind.
Beyond equities, alternative assets come into sharper focus. Hard assets, inflation-hedged investments, and emerging market opportunities tied to evolving trade flows could present significant upside.
Nigel Green concludes: “These tariffs are a pivotal shift in global economic policy with immediate and potentially lasting consequences.
Investors who recognize the opportunity now, who take decisive action rather than reacting after the facts, will be the ones who are likely to stand to benefit most in this new era of trade and market recalibration.
Economic and geopolitical risks are boosting outsourcing and prompting companies to widen their investment focus, new global research* from Ocorian, the specialist global provider of services to financial institutions, asset managers, corporates and high net worth individuals shows.
More than half (52%) of major companies, asset managers working in alternative investments, family offices and wealth managers questioned in the study say they have already increased their areas of focus for investments to mitigate economic and geopolitical risks while nearly half (49%) say they have outsourced more to third parties to benefit from experts who have the knowledge and scale to deal with the ever changing landscape.
The research across the European Union, UK, US, Canada, South Africa, Asia and the Middle East which also included senior executives at capital markets companies and professional services providers found 60% plan to increase outsourcing more generally over the next 18 months. Whilst around half (48%) say they plan to increase investment in their businesses over the period with a third (34%) planning to increase M&A activity and 23% planning to diversify into new geographies or sectors.
The study sounded a note of caution with 26% planning to decrease their levels of investment and M&A activities, showing that sentiment is still divided amongst firms.
Senior executives at major companies and asset managers working in alternative investments believe the banking sector will be most positively affected by the results of recent elections around the world. Around 71% say the sector will benefit while 51% say the insurance sector will be positively affected.
The industrial goods and services sector is also seen as a beneficiary of recent election results with 51% saying it will be positively affected. The oil and gas sector is seen as the least likely to benefit – just 18% questioned believe it will be positively affected.
Charlotte Cruickshank, Global Head of Onboarding and Solutions at Ocorian said: “Rising geopolitical and economic tensions have posed problems for companies worldwide to solve and key to that has been seeking support from third party specialists and diversifying their investment focus.
“It is clear that outsourcing of more operations and working with more specialist third parties will continue to trend over the next 18 months as companies look to ensure they are protected as much as possible from the latest economic and geopolitical issues which have a significant impact on decision making.”
Ocorian’s newly launched Global Asset Monitor provides further in-depth insights into how public and private markets are evolving, highlighting key investment trends shaping the financial landscape. With private assets growing nearly three times as fast as public assets over the past 15 years, the report explores how investors are adapting their strategies in response.
Ocorian is a global leader in fund administration, capital markets, corporate and fiduciary services. Ocorian helps its clients solve complex problems so they can optimise investment performance and build their competitive advantage.
In Partnership with Abu Dhabi Customs: Al Masaood Sets Best Practice Example in Supply Chain & Logistics Operations to visiting High Profile Hong Kong Delegation
For the third consecutive year, Al Masaood Group, prominent Abu Dhabi conglomerate, hosted a high-profile delegation from Hong Kong in partnership with UAE Customs, Abu Dhabi Customs and Federal Tax Authority. The visit highlighted Al Masaood Group’s model of excellence in implementing management and logistics systems within the AEO framework.
The delegation’s visit provided an in-depth exploration of the Group’s operations, offering them a clear view of the company’s streamlined supply chain and rigorous logistics and safety protocols. It included a guided tour of Al Masaood Automobiles’ recently revamped facility and warehouse, providing first-hand insights into the Group’s storage methods and shipment handling procedures, as well as the company’s strategic contributions to Abu Dhabi’s economy.
Al Masaood obtained AEO certification in 2021 – a significant milestone for the Group, achieved through meticulous efforts and commitment to excellence. The process involved meeting rigorous security and compliance requirements, intensive evaluations, and close interactions with Abu Dhabi Customs to ensure adherence with international standards. Commenting on this, Ahmed Salmeen, Chief Executive Government Affairs, Al Masaood Group, said: “Achieving the AEO certification has been transformative for Al Masaood. As a strategic player in the international trade ecosystem, being AEO-certified optimises our operational efficiency, thus strengthening our supply chain security and solidifying our international partnerships.”
Today, Al Masaood stands as a global trade player with leading international brands. Being a certified AEO operator allows the Group to enhance operational efficiencies, strengthen supply chain security, and solidify global trade partnerships. It also enables the company to foster a culture of trust, reliability, and security with its trade partners. These all align with Al Masaood’s efforts to support the UAE’s economic landscape while unlocking new opportunities and collaborations.
EBRD partners with CBE and EBank to boost Egyptian SMEs’ export capacity
The European Bank for Reconstruction and Development (EBRD) and the Central Bank of Egypt (CBE) have launched the SME National Champions programme, partnering with local financial institutions – including Egypt’s Export Development Bank (EBank) – to accelerate the growth of high-potential small and medium-sized enterprises (SMEs).
The SME National Champions programme aims to empower Egypt’s most promising SMEs, supporting them with training, mentoring and opportunities to network with other non-financial service firms. Selected businesses will also receive personalised consulting and specialist capacity-building support tailored to their individual needs and objectives.
The programme began with a masterclass for members of EBank’s recently launched Export Club – a networking platform where EBank clients can share knowledge and access services with the ultimate goal of boosting their export capacity. Entitled “A Strategic Gateway to Saudi Arabian Market Success”, the session provided SMEs with practical insights and tools for entering the Saudi Arabian market and growing their businesses.
The SME National Champions programme is part of a broader collaboration between the EBRD and EBank aimed at expanding the financial and non-financial services that EBank provides to its exporting clients and enhancing the value proposition of its Export Club.
The EBRD will facilitate one-to-one business consulting by matching selected Export Club members with local and international consultants to help overcome barriers to export growth. In addition, members will gain access to masterclasses, training sessions led by industry experts and targeted content – all designed to equip them with the essential skills and best practices they need for success in new markets. This comprehensive support will help EBank to expand its non-financial offering and grow its Export Club in alignment with its own goals.
SMEs play a crucial role in Egypt’s economy, driving innovation, productivity and job creation. By joining forces with key partner financial institutions, the EBRD is aiming to enhance the SME sector’s competitiveness and its contributions to sustainable economic growth.
Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested more than €13.8 billion in the country through 198 projects.
Strategic Development Fund Signs Initial Agreement with REGENT to Set Up a Joint Venture for Seaglider Manufacturing and Services in the UAE.
Strategic Development Fund (SDF) and REGENT Craft signed an initial agreement to bring manufacturing and aftermarket services for advanced electric seaglider to the UAE, pending closing conditions and regulatory approvals.
SDF invested in REGENT in 2023, increasing its stake in late 2024 as negotiations on the UAE partnership progressed, with plans for further investment upon its successful establishment.
JV follows April 2024 agreement between Abu Dhabi Investment Office (ADIO) and REGENT to support the company’s manufacturing capabilities within the Smart and Autonomous Vehicle Industry (SAVI) cluster.
Learn more about REGENT here and learn more about demand for seagliders in the UAE here.
Strategic Development Fund (SDF), an Abu Dhabi-based investment company wholly owned by EDGE Group, one of the world’s leading advanced technology and defence groups, today announced that it has signed an initial agreement with REGENT Craft, a Rhode Island-based developer and manufacturer of all-electric seagliders. The agreement aims to establish a joint venture (JV) to manufacture REGENT’s electric seagliders in the UAE for supply to the Middle East, Africa and beyond, upon receipt of all necessary approvals.The JV will also provide aftermarket services, including maintenance, repair, and overhaul (MRO).
The venture aligns with EDGE’s and SDF’s strategic objectives in focusing on advanced technologies within specific strategic sectors, among which are aerospace, and dual-use technologies. It also supports projects that contribute to the development of the industrial ecosystem and enhance critical supply chain and production capabilities within these sectors.
SDF initially invested in REGENT in 2023 and increased its stake in 2024 as negotiations for the UAE partnership progressed. Upon the successful establishment of the partnership, which is subject to finalizing conditions and obtaining local and international regulatory approvals – SDF plans to further invest in the company, reinforcing its confidence in REGENT’s potential and strengthening their long-term collaboration.
Hamad Al Marar, EDGE Group Managing Director & CEO, commented: “SDF’s investment in REGENT Craft aligns with our commitment to focus on establishing strategic partnerships with key players in various industries to develop future-forward technologies. Our investments in critical sectors drive technological advancements and supports our goals to enhance the UAE’s industrial growth in strategic sectors.”
Abdulla Al Jaabari, Managing Director & CEO of SDF, commented: “We strongly believe in REGENT Craft’s vision and groundbreaking technology.This initial agreement marks a significant step in our strategic hybrid investment approach – combining investments in international startups with strategic partnerships to contribute to the development of transformative technologies in the UAE.”
Earlier this month, at the World Government Summit 2025 in Dubai, Billy Thalheimer, Co-founder and CEO of REGENT Craft, spoke at the “Future of Mobility Forum.” During his presentations and discussions across multiple forums, he discussed REGENT’s plans for establishing a state-of-the-art seaglider manufacturing plant in Abu Dhabi, UAE.
“We are honoured to deepen our collaboration with SDF and make Abu Dhabi and the UAE a centre for seaglider manufacturing,” said Billy. “This transformative potential partnership will usher in a new era of sustainable transportation technology.”
The agreement follows an April 2024 Memorandum of Understanding (MoU) between the Abu Dhabi Investment Office and REGENT that aims to support the company’s development and manufacturing capabilities within Abu Dhabi’s Smart and Autonomous Vehicle Industry (SAVI) cluster.
Commenting on the development, His Excellency Badr Al-Olama, Director General of ADIO,said: “This agreement represents an important step forward in encouraging investment in advanced technologies, supporting innovation, and accelerating industrial development in Abu Dhabi. SDF and REGENT Craft’s partnership also advances the objectives of Abu Dhabi’s Smart and Autonomous Vehicle Industry (SAVI) cluster, solidifying the emirate’s position as a leader in sustainable, next-generation transportation solutions across air, land and sea.”
REGENT in the UAE
This collaboration will scale REGENT’s manufacturing capabilities and aftermarket services, enhancing its ability to meet the increasing demand for seagliders in the region and beyond. REGENT recently broke ground on a 255,000-square-foot seaglider manufacturing facility in Rhode Island, expected to come online in 2026.
Seagliders are a novel all-electric high-speed vessel that operate exclusively over water to connect coastal destinations for uses including passenger travel, cargo transport, offshore energy logistics, defense operations, and emergency response and aid.
REGENT projects the manufacturing and deployment of seagliders in the UAE have the potential to make significant contribution to the country’s annual GDP in the next decade through localizing supply chain, creating high value jobs, and increased domestic tourism and spending.
Seagliders, which use existing dock infrastructure, are expected to enter into service in the UAE in 2027, and REGENT has been working with key stakeholders in the country to enable a smooth integration into existing transportation networks.
REGENT is also working with Aramex, a global logistics and transportation solutions provider, to assess the feasibility of integrating REGENT’s high-speed seagliders into Aramex’s middle-mile logistics network.
REGENT is working with maritime classification society Lloyd’s Register and the UAE Marine Transport Affairs Department to advance seaglider maritime certification in the country.
EDGE Fortifies its Strategic Alliance with ELT Group at the Italy-UAE Entrepreneurial Forum
EDGE Group has announced that during the Italy-UAE Entrepreneurial Forum, its collaboration with ELT Group was further strengthened through the signing of a Letter of Intent (LOI).
The LOI was signed in the presence of prominent leaders, including UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan, and Italian Prime Minister Giorgia Meloni, underscoring a strong bilateral commitment to advancing technological innovation in the defence sector. This significant milestone reaffirms the joint commitment of both companies to harness advanced technology and defence solutions to address global security challenges.
The partnership between EDGE and ELT Group has evolved through several strategic initiatives, the latest being the Memorandum of Understanding (MoU) signed during IDEX 2025 in Abu Dhabi, which lays the groundwork for a joint venture focused on multi-domain electronic defence initiatives, marking the next phase of the collaborative journey.
Hamad Al Marar, Managing Director & CEO of EDGE Group, said: “This second major milestone in the important partnership with ELT Group reinforces our commitment to jointly expanding our capabilities and striving for industry leadership in the development of sophisticated technologies for the electromagnetic spectrum and cyberspace. By combining our expertise and scale, we are poised to capitalise on valuable opportunities for success and economic growth. Our approach will continue to prioritise international collaboration and innovation across all domains, ensuring we play a key role in safeguarding the security and protection of customers and nations worldwide.”
Both companies are committed to enhancing local expertise in technical support, maintenance, production, and supply chain management within the electronic defence sector. Their collaborative efforts are designed to contribute to the development of a sovereign and resilient UAE ecosystem that fosters innovation and sustainable growth.
Enzo Benigni, CEO of ELT Group, said: “The recent agreements reinforce an already solid partnership and create the opportunity for common growth in the search for challenging solutions to modern global security challenges. At the same time, they allow ELT Group to return to the country a complete product in terms of knowledge, technology and structured industrial cooperation.”
EDGE Group remains dedicated to delivering cutting-edge technological solutions and forging partnerships that drive progress and enhance security across the UAE and beyond.
Bokra Makes Its Mark in Fintech and Showcases Its Future Plans
Bokra, a leading fintech company, has unveiled its future plans and vision while discussing its latest business developments and strategic goals. The company offers a wide range of investment solutions for individuals and small to medium-sized enterprises (SMEs), enabling them to build investment portfolios in real estate, precious metals, and debt instruments through Sharia-compliant financial products. Additionally, Bokra provides tailored financing solutions designed to meet the needs of fintech-driven startups, helping them achieve their financial goals efficiently and seamlessly.
In this context, Ayman El-Sawy, the founder and CEO of Bokra Holding, stated: “Since its inception in 2023, Bokra has aimed to establish a strong foundation that ensures the highest levels of security, privacy, and protection for depositors’ funds, while obtaining all necessary licenses from the Financial Regulatory Authority. This goes hand in hand with developing an integrated technological infrastructure supported by the latest cybersecurity technologies. All of this is aimed at providing a secure platform that adheres to the highest safety standards to protect users and ensure their rights. We are committed to delivering innovative investment solutions that empower individuals and SMEs to achieve their financial goals with ease and security. We believe that fintech should be accessible to everyone, and this is what we strive to achieve through the Bokra platform, which combines advanced technology with specialized financial expertise.”
El-Sawy emphasized that Bokra not only provides investment services for individuals but also offers innovative investment and financing solutions for SMEs through its Business Portal. This portal allows clients to monitor their investments and track their progress with complete transparency.
As part of its efforts to safeguard clients’ funds, Bokra has recently obtained all necessary licenses to commence operations from the Financial Regulatory Authority. In line with its commitment to financial inclusion, the company is in the process of securing approvals to integrate modern technologies such as Digital KYC (Know Your Customer) and Digital Contracts, which will enable clients to use the Bokra platform with ease.
El-Sawy added that Bokra places great importance on promoting sustainability by encouraging individuals and businesses to invest in the Egyptian economy, aligning with the company’s vision to contribute to economic and social development. He also highlighted that the company’s goals align with the Egyptian government’s efforts to achieve financial inclusion and support the economy. Bokra is dedicated to fostering financial inclusion and enhancing financial literacy across the MENA region.
In this regard, the company aims to equip clients with financial and investment knowledge and tools that comply with Sharia principles, enabling them to achieve their financial goals effectively. Bokra provides innovative investment opportunities that contribute to financial stability and economic growth.
Egypt Kuwait Holding Company (EKHO.CA and EKHOA.CA on the Egyptian Exchange and EKHK.KW on Boursa Kuwait), one of the MENA region’s leading investment companies, reported today its consolidated results for the quarter ended 31 December 2024.
EKH recorded revenues of USD 167 million for 4Q 2024, growing 9% over the previous quarter, driven by top-line growth across the portfolio, reflecting the sustained market recovery. The Group maintained robust margins amid ongoing headwinds, recording gross profit and EBITDA margins of 41% and 42%, respectively. Meanwhile, net profit amounted to USD 46 million, with net profit margin expanding 5pp y-o-y to 28%. Net profit increased 20% q-o-q, supported by strong revenue performance and bottom-line growth at AlexFert, while attributable net income came in at USD 39 million.
In FY 2024, EKH recorded revenues of USD 642 million, with gross profit and EBITDA margins coming in at 40% and 39%, respectively. Net profit amounted to USD 185 million, translating into a 2pp y-o-y expansion in net profit margin to reach 29%, while EKH’s attributable net income totaled USD 163 million for 2024.
Loay Jassim Al-Kharafi
Commenting on the Group’s performance and business outlook, EKH Chairman Loay Jassim Al-Kharafi: “I am pleased to report that we delivered solid fourth quarter results, capping off a strong year defined by remarkable growth and expansion across key business segments.”
“Despite navigating significant headwinds throughout 2024, including currency fluctuations, gas supply disruptions, and other operational challenges, our resilience and strategic foresight have enabled us to overcome these extraordinary operating conditions and emerge stronger, laying the foundation for sustainable growth and long-term success. Our year-end results highlight several encouraging trends, including recovering prices and volumes for our core products, highlighting the resilience of our portfolio companies.”
“We remain focused on our priorities of boosting foreign currency generation, growing export potential, and strengthening our financial position, while contributing to broader regional development. In line with this objective, EKH’s first investment in Saudi Arabia is expected to commence commercial operations in the coming months. In addition, we are making solid progress on our investment pipeline and expect to make our first strategic investment beyond the MENA region this year, further expanding EKH’s global footprint. These milestones reaffirm our commitment to managing currency exposure, expanding to high-growth markets, and diversifying our portfolio across sectors and geographies.”
“In keeping with our commitment to our shareholders, we are pleased to propose a distribution composed of both cash and stock dividends. Delivering sustainable returns to investors remains a core pillar of our strategy as we continue to balance shareholder distributions with reinvestments for future growth.”
“Looking ahead to 2025, we will continue to optimize our capital deployment and prioritize investments that align with our strategic objectives, to maximize returns for our stakeholders.”
Jon Rokk
Commenting on the Group’s performance in FY 2024, EKH CEO, Jon Rokk: “I am proud to share that despite a challenging year marked by macroeconomic headwinds and external pressures, EKH has demonstrated remarkable resilience and adaptability, delivering a robust set of results. This achievement is a testament to the dedication and hard work of our people across all levels of the Group, whose commitment and agility have enabled us to navigate uncertainty, capitalize on opportunities, and drive growth.”
“Our fourth quarter results demonstrate strong sequential growth, with revenues and net profit up 9% and 20% q-o-q, respectively. At AlexFert, revenue grew by 26% q-o-q in 4Q 2024, driven by export urea prices continuing along their upward trajectory, coupled with rising volumes, with its plant now operating at full capacity enabled by a stable natural gas supply. Similarly, NatEnergy’s revenue grew by 15% q-o-q in 4Q 2024, while Kahraba’s distribution volumes surged 62% y-o-y in 4Q 2024, driven by growth from the recently introduced concession zone at 10th of Ramadan. To support this growth, we are investing in a second substation within the concession area, enabling us to effectively meet future capacity needs. Meanwhile revenues at ONS grew by a stellar 32% y-o-y in 4Q 2024, a direct result of production commencing at our two recently drilled wells, Aton-1 and KSE2.”
“Building on this solid foundation, our upcoming projects will be key to advancing our regional and international expansion, supporting both growth and diversification.”
“As part of our continued progression, we will be undertaking a corporate rebrand and identity transformation in 2025. This will not just be a facelift – it will be a bold statement of evolution. EKH is entering into a new phase, one that reflects our ambitions, our growth, and our relentless drive to build an even more dynamic and future-focused enterprise.”
Fertilizers | AlexFert
AlexFert booked USD 59 million in revenues during 4Q 2024, reflecting a 26% growth q-o-q, supported by sustained improvement in urea export prices, as well as government interventions to ensure natural gas availability, enabling AlexFert to operate at full capacity beginning December. Gross profit and EBITDA margins expanded by 1pp and 2pp y-o-y, respectively, in 4Q 2024, reflecting reduced expenses and enhanced operational efficiency. Net profit came in at USD 29 million, reflecting a 5pp y-o-y expansion in the net profit margin to 49% in 4Q 2024.
In FY 2024, revenues recorded USD 213 million, impacted by natural gas availability, while gross profit and EBITDA margins remained strong at 36% and 44%, respectively, coupled with a 2pp y-o-y expansion in the company’s bottom-line margin.
The company’s outlook remains optimistic, supported by steady natural gas supply secured by way of recent government interventions and sustained recovery in export urea prices, which increased 8% q-o-q in 4Q 2024 to reach USD364/ton. Global urea prices continued their upward trajectory in 2025, averaging USD387/ton during January 2025.
Petrochemicals | Sprea Misr
Sprea Misr reported revenues of EGP 1.54 billion in 4Q 2024, reflecting increases of 50% y-o-y and 16% q-o-q, driven by higher volumes and price growth across key products. Gross profit stabilised at 32%, while EBITDA margin expanded to 31%. Net profit grew 92% y-o-y to EGP 546 million in 4Q 2024, with net profit margin expanding by 8pp y-o-y to 36%.
In FY 2024, revenues recorded EGP 5.84 billion in FY 2024, up 19% y-o-y. Net profit stood at EGP 2.64 billion in FY 2024, reflecting a 2pp y-o-y expansion in bottom-line profitability to 45%, driven by interest income and FX gains during the year.
Sprea is ideally positioned to benefit from recovering local prices post-EGP devaluation as well as increased demand for Sulfonated Naphthalene Formaldehyde (SNF) due to the resumption and the expected pick up in construction activities in Egypt.
Utilities | NatEnergy
NatEnergy reported revenues of EGP 1.6 billion in 4Q 2024, marking a 46% y-o-y increase, primarily driven by Kahraba’s growing electricity distribution businesses, in addition to the high-pressure steel pipeline executed by Fayum Gas. In 4Q 2024, sequential results witnessed both gross profit and EBITDA margins climb up by 6pp q-o-q to land at 30%, with net profit for the quarter growing 49% y-o-y to EGP 505 million.
In FY 2024, revenues grew 30% y-o-y to reach EGP 5.3 billion, while net profit grew 21% to EGP 1.8 billion.
Looking ahead, NatEnergy’s outlook remains positive, benefiting from recently implemented increases in electricity tariffs, while management continues to focus on more profitable “infill” clients to further enhance its profitability. Moreover, Kahraba is in the process of investing in a second substation in its 10th Ramadan concession area to support growing demand in the industrial zone.
Oil and gas | ONS
ONS reported revenues of USD 19 million in 4Q 2024, increasing 32% y-o-y and 25% q-o-q, driven by growing volumes owing to the commissioning of two new wells. Net profit for the quarter stood at USD 9 million, translating into a net profit margin of 47%, up 6pp y-o-y.
In FY 2024, ONS posted revenues of USD 62 million in FY 2024, up 7% y-o-y, while net profit totaled USD 31 million, yielding a solid net profit margin of 50%.
ONS is poised for growth, fueled by its recent expansions, including the commencement of production at Aton-1 and KSE2 within its expanded concession area, with the two new wells supporting sustained gas production rates at 55 MMSCFD until the end of 2026. Furthermore, ONS will capitalise on the 10-year extension of the Concession Agreement approved by the Egyptian General Petroleum Company’s (EGPC) during the year.
NBFS & Diversified
In 4Q 2024, the Diversified segment reported attributable revenues of USD 25 million. Gross profit margin came in at 59%, up 4pp y-o-y and 10pp q-o-q, driven by the reassessment of insured asset values and premiums, as well as improved portfolio returns, supported by the high-interest rate environment.
Both Delta and Mohandes Insurance reported net profit growth of 72% and 27% y-o-y respectively in EGP terms during FY 2024.
Looking ahead, management is optimistic regarding the insurance sector’s ability to sustain its positive trajectory, driven by continued upward revaluation of insured asset values and stable premium growth. Furthermore, Nilewood is advancing towards the production of its first MDF board, with commercial operations set to begin in 1H25.
EKH’s standalone and consolidated financial statements and full earnings release for the period ended 31 December 2024 are available for download at ir.ekholding.com
