Nassef Sawiris (Orascom) secures working capital from EBRD

Nassef Sawiris (Orascom) secures working capital from EBRD

Anticipating a growing need for working capital in the coming months, the Egyptian billionaire’s construction group is calling on development institutions to help strengthen its accounts.

Someone shares this article with you
            ▪ Nassef Sawiris (Orascom) secures working capital from EBRD

▪ Anticipating a growing need for working capital in the coming months, the Egyptian billionaire’s construction group is calling on development institutions to help strengthen its accounts.

https://www.africabusinessplus.com/en/805434/nassef-sawiris-orascom-secures-working-capital-from-ebrd/

Approved at the end of July, the €25m package from the European Bank for Reconstruction and Development (EBRD) will be spread over the next two years. No precise timetable has yet been communicated, but the funds will be used to support Orascom Construction Company SAE, a subsidiary of Orascom Construction PLC, as it weathers the Covid storm.

This article is for subscribers only. To read more, subscribe with a special offer.

You are connected to your Jeune Afrique account but your Africa Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.

Recommended articles

Bank

27/10/2023 at 16h55, by Africa Business+

Banque du Caire returns to the EBRD amid currency stress

The European financial institution is backing the financial group and three other Egyptian banks in...

Energy

17/04/2023 at 16h23, by Africa Business+

ONEE Director General Abderrahim El Hafidi takes on the EBRD for €200 million sustainable bonds

Plagued by the energy crisis, the Moroccan National Office of Electricity and Drinking Water is refinancing...

Mines

08/02/2023 at 17h52, by Africa Business+

Guinean graphite: La Mancha Capital Advisory’s SRG Mining to close financing mid-2023 

As global demand for the mineral grows, some giant companies seek to develop mining on the continent.

Logistics

28/11/2022 at 15h40, by Africa Business+

Plastikpack green factory in Morocco gets EBRD support

The subsidiary of the Franco-German professional plastic packaging group will finance nearly 60% of...

Construction & Infrastructure

21/06/2022 at 16h22, by Africa Business+

How the EGAAD consortium finances its Great Kasai projects

The Egyptian African Arab Co. for Development (EGAAD), created to “build Africa by Africans”, brings...

Telecoms

11/10/2021 at 17h06, by Africa Business+, updated 12/10/2021

How Safaricom Ethiopia built consortium team

The consortium made several key appointments over the summer with a balance of Vodacom, Safaricom and...

Any questions ? contact us

Please get in touch with the Africa Business+ team if you require any further information.

Email us : customer.care@africabusinessplus.com

Add AB+ to your home screen

1. Click on + at the bottom of your screen.

2. Click on + to add AB+ on the home screen.

3. Enter the name of the shortcut and confirm.