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EFG Hermes unit acquires fintech company Paynas

valU, a buy-now, pay-later (BNPL) fintech platform in Mena region and a unit of EFG Hermes, said it has acquired Paynas, a full-fledged employee management and benefits company that offers financial services to micro, small and medium enterprises (MSME).

AfDB approves €145m loan for rail upgrade works in Egypt

AfDB approves €145m loan for rail upgrade works in Egypt 6 April 2021 (Last Updated April 6th, 2021 15:27) The African Development Bank (AfDB) has approved a €145m loan to finance key railway upgrade works in Egypt. Share Article The funding will be used to improve operational safety and boost network capacity on national rail lines. Credit: © 2021 African Development Bank. The African Development Bank (AfDB) has approved a €145m loan to finance key railway upgrade works in Egypt. The funding will be used to improve operational safety and boost network capacity on national rail lines under the Egypt National Railways Modernization Project (ENRMP). The ENRMP aims to install a train protection system on 950km of rail line along the busy routes that connect Alexandria in the north to Negh Hammadi in the south, and Port Said in the east.

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