Egypt: EFG Hermes, GB Capital and Talaat Moustafa Group launch $8.6 mln joint-venture for mortgage financing
Monday, 22 April 2019 18:26
EFG Hermes Finance, BG Capital and Talaat Moustafa Group (TMG) will launch an $8.6 million joint-venture to offer mortgage financing. This fund could increase to $14.5 million in the coming years.
This fund will leverage the about four decades of experience Egyptian group Talaat Moustafa Group (TMG) has in real estate development in Egypt.
According to Karim Awad, managing director of EFG Hermes Holding, the Egyptian real estate market is underexploited by financial institutions, hence the creation of this joint-venture to offer financing services to actors in this market.
Chamberline Moko
Live News
-
Togo’s Microfinance Sector Reaches 4.7 Million Beneficiaries Amid Regulatory Reform
14:44
-
Nigeria: Lagos to host IoT, AI and cloud industry event in April
14:40
-
Adlore pilots Jollof Boss WhatsApp platform for small businesses in Nigeria
14:35
-
South African AI Startup Yazi Hits $1.6 Million Valuation in First Institutional Round
14:28
-
Kenya Automates Road Enforcement With AI Cameras and SMS Penalties
14:09
-
African Experts Meet in Lomé to Harmonize Laws Protecting Aquatic Biodiversity
14:05
-
Togo adopts law implementing WAEMU anti-counterfeiting rules
13:43
-
Douala Launches CFA350m Paving Plant to Cut Road Costs, Speed Repairs
08:52
-
Cameroonian Economist Songwe Joins Vatican Social Sciences Academy Weeks Before Papal Visit
08:42
-
Twenty Port Authorities Convene in Yaounde to Chart Green Finance and Competitiveness Strategy
08:33
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...
Koeberg Unit 2 has operated continuously for 365 days with a 99.4% energy availability factor (EAF). The reactor contributes 946 MW to South Africa’s...
The DRC commissions a technical and financial audit of the Sicomines partnership covering 2008–2024. Sicomines has accumulated nearly $9 billion...
Telecom companies in the Democratic Republic of Congo (DRC) must open 25% of their capital to local investors by July 2027. The measure retroactively...
BAT Kenya plans to source at least 70% of tobacco leaves locally in 2026, up from 60% in 2025. Local sourcing could save the company roughly £2...
Paris exhibition showcases Brazilian painter Gonçalo Ivo’s Africa-inspired works Show runs March 20-July 9 at La Maison Gacha Exhibition...
Located about forty kilometers east of Lomé along the Gulf of Guinea, Aného is one of the most historically significant towns in Togo. Nestled between a...