Articles by Daily News Egypt

Technology

Capital Agro launches $25m logistics hub to enhance frozen food storage, distribution

Capital Agro for Import & Export Group has announced the launch of a new $25m logistics complex dedicated to frozen food storage and distribution, featuring large-scale freezers and integrated sorting and packaging lines. The investment includes $15m allocated for 2025, with an additional $10m planned through 2027. The company has begun developing a fully integrated logistics platform to provide warehousing, trading, and storage services for frozen food products, incorporating advanced smart technologies being introduced for the first time in Egypt’s cold storage and distribution sector. The initiative aims to enhance operational efficiency, expand national storage capacity, and support food security through improved supply chain performance. Strategically located in Belbeis, Sharkia Governorate, the complex lies near key seaports, industrial zones, and agricultural centres, allowing direct access to production sources and consumer markets. The facility will be constructed on land owned by the Sharkia National Food Company, which Capital Agro has secured under a 25-year usufruct agreement. Spanning approximately 30,000 square metres, the new logistics hub will have an operational capacity exceeding 30,000 pallets. It will feature advanced washing, sorting, and packaging lines for fruits and vegetables, positioning it among Egypt’s most significant logistics projects of the year. The facility will operate through a goods bank system, managing the full cycle of storage, withdrawal, and trading while offering real-time inventory tracking and data analysis. Artificial intelligence will be deployed to optimise operations — including storage management, temperature control, and data monitoring — ensuring consistent quality and efficiency. In line with Egypt’s sustainability goals, the project will rely on solar and renewable energy sources to reduce its environmental footprint. With nearly 13 years of experience in the import and export of food products, Capital Agro has built extensive expertise in managing and marketing cold storage facilities and warehouse spaces for third parties. The company also maintains diversified operations in retail trade, including home appliances, electronics, restaurants, and cafés. By combining advanced logistics infrastructure with sustainable technology, Capital Agro’s new complex represents a major step toward strengthening Egypt’s food storage, distribution, and export capabilities.

Technology

CIB launches co-branded credit card for Egypt’s digital generation

The Commercial International Bank (CIB) Egypt, the country’s largest private-sector bank, has announced a strategic partnership with Talabat, the leading e-commerce platform in the Middle East and North Africa, and Mastercard, the global payments technology company, to launch a new co-branded credit card designed for Egypt’s growing digital generation. The initiative aligns with the government’s drive to advance digital transformation and financial inclusion under Egypt’s Vision 2030. The new CIB Talabat Mastercard Credit Card offers a secure, convenient, and rewarding digital payment experience, underscoring the partners’ shared commitment to accelerating the shift toward a cashless economy. Tailored for customers who rely heavily on digital platforms in their daily lives—particularly food and grocery delivery users—the card provides a monthly cashback of up to EGP 1,200 on the Talabat app, along with a one-time welcome bonus of up to EGP 2,000, free delivery from selected stores, and exclusive in-app discounts. Cardholders also earn 1% cashback on all purchases outside the Talabat ecosystem, while enjoying Platinum Mastercard privileges that enhance their overall user experience. “CIB believes that the future belongs to digital payments, and our role is not only to keep pace with this transformation but to lead it,” said Rashwan Hammady, CEO of Retail Banking, SMEs, and Financial Inclusion at CIB Egypt. “Our partnership with Talabat and Mastercard represents an important step in redefining the banking experience through a product that merges convenience, rewards, and innovation. Launching this card reaffirms CIB’s commitment to supporting financial inclusion and providing smart banking solutions tailored to the digital generation.” Khaled Al Fakesh, Chief Financial Officer at Talabat, said the partnership reflects Talabat’s strategy to integrate embedded finance into its ecosystem to enhance customer engagement. “Our collaboration with CIB and Mastercard enables us to deliver value beyond everyday ordering experiences, offering real rewards and benefits on daily spending. It’s another step toward our vision of fostering financial inclusion through technology,” he said. Meeti Gouni, Executive Vice President of Market Development for Eastern Europe, the Middle East, and Africa at Mastercard, emphasised the partnership’s alignment with Egypt’s Digital Egypt strategy. “We are committed to working with our partners to accelerate the growth of the digital economy in Egypt. This collaboration with CIB and Talabat exemplifies how strategic partnerships can deliver tangible benefits to consumers while expanding the base of electronic payment users through innovative and secure solutions,” she said. The launch marks a significant step in Egypt’s transition toward a digital-first financial ecosystem, empowering consumers with greater access, flexibility, and incentives in their everyday transactions.