Latest News from Tahya Masr
Tahya Masr
11 hours ago
- Business
- Tahya Masr
Allianz Egypt Strengthens Strategic Partnership with the Egyptian Paralympic Committee to Empower National Champions and Elevate Their Global Presence
Allianz Egypt, a leading insurance provider and affiliate of the SanlamAllianz alliance, has reaffirmed its long-term commitment to the Paralympic movement by extending its strategic partnership with the Egyptian Paralympic Committee until 2028, under the umbrella of Allianz Group's global alliance with the International Paralympic Committee. This renewed collaboration underscores Allianz Egypt's ongoing dedication to supporting and empowering Egyptian Paralympic athletes, while promoting the values of diversity and equality in sports. As part of its broader sustainability agenda, the company places Paralympic sports at the heart of its corporate social responsibility framework, reinforcing its role as a responsible investor and trusted partner dedicated to creating real value for society. Dr. Hossam El-Din Mostafa, Chairman of the Egyptian Paralympic Committee, commented: "Since the inception of our partnership with Allianz Egypt, we have witnessed genuine and impactful support, extending beyond sponsorship into strategic, long-term development. This collaboration has created an enabling sports ecosystem that allows our athletes to compete at the highest levels and elevate the profile of Paralympic sports in Egypt." Charles Tawadros, Chief Executive Officer of Allianz Egypt and Managing Director of Allianz Life Assurance Company – Egypt, added: 'We recognize the transformative power of sport in fostering inclusive and resilient communities. Our commitment is demonstrated through strategic partnerships with leading sports organizations both nationally and internationally. Our ongoing collaboration with the Egyptian Paralympic Committee exemplifies this dedication, playing a significant role in nurturing and empowering Egypt's Paralympic athletes'. He continued: 'As part of this partnership, Allianz Egypt proudly supports five Paralympians across key disciplines, including Para powerlifting, swimming, and badminton. Notable athletes like Sherif Osman and Fatma Mahrous, who secured silver medals at the Tokyo 2021 and Paris 2024 Paralympic Games, highlight the success of our collective efforts. Beyond sponsorship, we're committed to providing the essential resources and a supportive environment that empower these athletes to train effectively and compete at the highest level'. Allianz Egypt remains committed to supporting athletes across all categories, extending its efforts to both Paralympic and Olympic athletes alike. In 2024, the company provided a personal accident insurance policy for the Egyptian Olympic delegation, offering comprehensive coverage that includes surgical procedures, physical therapy, and all sports-related injuries. This initiative reflects Allianz Egypt's leading role as a key sponsor of Paralympic sports in Egypt and reinforces its dedication to championing athletes at every level .
Tahya Masr
11 hours ago
- Business
- Tahya Masr
LG Egypt Launches "Better Home" Initiative Supporting Marriage Facilitation in Dakahlia Villa
– As part of its corporate social responsibility program 'Life's Good', LG Egypt has launched its new initiative in collaboration with Misr El Kheir Foundation titled 'Better Home', aimed at supporting underserved communities and enabling dignified, stable living conditions for Egyptian families. The initiative officially kicked off in Basat Karim El Din village, located in Sherbin district, Dakahlia Governorate, in direct support of Misr El Kheir's long-standing Marriage Facilitation Program. The program helps empower young couples to start their lives together in safe and stable environments. As part of the contribution, LG Egypt donated a selection of home appliances, including top-load washing machines and 43' smart televisions, some of the company's latest high-efficiency models designed with advanced technologies to provide reliable, user-friendly experiences for beneficiary families. This in-kind donation aligns with LG's vision of bringing the 'Life's Good' philosophy to life, delivering both tangible and emotional support to those most in need. The initiative reflects LG's continued efforts to enhance community infrastructure and contribute to long-term sustainable development across Egypt. Mohamed El-Gadawy, Marketing and Public Relations Director at LG Egypt, commented: 'The launch of 'Better Home' under our Life's Good slogan is a continuation of our commitment to initiatives that empower Egyptian families to build stable, dignified lives. The true meaning of Life's Good is about offering smart, human-centric solutions that create real value inside people's homes . From Misr El Kheir's side, Eng. Ahmed Youssef, Senior Director of the Direct Aid Program at Misr El Kheir, expressed his appreciation for the collaboration with LG Egypt, stating: 'Our direct aid programs run year-round, reaching deserving families in every governorate, and stem from our belief in the Foundation's vital role in uplifting communities. We value our ongoing partnership with LG Egypt, which has extended across multiple sectors within the Foundation, and we look forward to its continued expansion.' Youssef emphasized that the initiative aligns closely with Misr El Kheir's overarching mission to develop human capital and uplift human dignity. LG Egypt reaffirmed that this initiative marks only the beginning of a wider series of community engagement programs under the Life's Good slogan, with upcoming activations expected to expand across additional governorates in the near future — further strengthening the company's contribution to sustainable development in Egypt.
Tahya Masr
17 hours ago
- Business
- Tahya Masr
Manfoods–McDonald's Egypt is the Platinum Sponsor of 'Everybody Needs a Buddy' Campaign to Support Individuals with Autism
As part of its ongoing commitment to promoting social inclusion and supporting the most vulnerable communities, Manfoods–McDonald's Egypt, a leading company in the fast-food industry, has announced its platinum sponsorship of 'Everybody Needs a Buddy' campaign, in collaboration with the Egyptian Autistic Society. The initiative aims to integrate individuals with autism into society by building social bonds and encouraging the formation of friendships with members of the community. The initiative addresses one of the key challenges faced by individuals with autism: difficulty in forming social relationships. Through 'Autismania' Buddy System app, individuals with autism are paired with volunteers to participate in daily, educational, and recreational activities, as outings and academic support. This helps strengthen their engagement with society and creates a more inclusive and connected environment. To amplify the impact of the initiative, Manfoods–McDonald's Egypt will support the campaign's wider reach by raising awareness among its customers about the initiative and ensuring they receive the necessary information to participate easily. This will be facilitated by integrating McDonald's Egypt app with 'Autismania' app, ensuring broader access, deeper impact, and maximum volunteer participation. This collaboration marks a continuation of the strategic partnership between Manfoods–McDonald's Egypt and the Egyptian Autistic Society, which began a decade ago. Together, they launched in-store training program in McDonald's branches designed to prepare individuals with autism for integration into the labor market. The program offers a practical environment that considers trainees' needs and provides real employment opportunities. Over the past ten years, the program has successfully trained over 200 young men and women and empowered several to secure actual jobs at McDonald's restaurants, turning theoretical support into a tangible, sustainable impact. Alaa Fathy, General Manager of Manfoods–McDonald's Egypt, expressed his enthusiasm for the collaboration, stating: "Our support for individuals with autism is not just another CSR initiative, it is a deep long-term commitment we truly believe in. We are proud of our partnership with the Egyptian Autistic Society and honored to be the platinum sponsor of this important campaign that promotes social inclusion and fosters a supportive environment where individuals with disabilities can play an active and impactful role in society." It is worth noting that Manfoods–McDonald's Egypt places social responsibility at the core of its strategic vision. The company is committed to supporting vulnerable children and families and enhancing access to quality healthcare and education. It embraces a long-term vision for sustainable development through active partnerships with civil society organizations and encourages its employees to engage in volunteer work. One of the key pillars of this effort is Ronald McDonald House Charities – Egypt 'RMHC' through which the company delivers impactful projects and humanitarian initiatives to meet the needs of the community.
Tahya Masr
2 days ago
- Business
- Tahya Masr
EFG Hermes Concludes Advisory on EFG Corp-Solutions' EGP 2.65 Billion Issuance, Egypt's Largest-Ever Corporate Bond Issuance
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today the successful conclusion of Egypt's largest corporate bond issuance to date, a bond issuance valued at EGP 2.65 billion for EFG Corp-Solutions, a subsidiary of EFG Finance and one of Egypt's leading leasing and factoring companies. This transaction marks as the fourth bond issuance for EFG Corp-Solutions. The bond was issued with a credit rating of A- by Middle East Ratings and Investor Services (MERIS), with a 13-month tenor. Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes , commented on the issuance, saying, 'We are proud to have successfully advised on Egypt's largest-ever corporate bond issuance. This milestone reflects our commitment to delivering innovative financial solutions and supporting the growth of our clients. By leveraging our extensive network and expertise, we were able to fully cover the issuance through a diverse base of non-bank institutional investors—an achievement that reflects strong market confidence and the strength of the offering, with the issuance being completely covered from non-bank institutional investors. This broad appeal underscores the robust market position of EFG Corp-Solutions and highlights the synergies within EFG Holding.' Talal El Ayat, CEO of EFG Corp-Solutions , shares his enthusiasm, saying, 'This issuance marks a significant achievement for EFG Corp-Solutions and underscores our position as a leader in the leasing and factoring industry. The success of this bond issuance is a testament to the market's trust in our business model and our potential for sustained growth. We are excited about the opportunities this bond will create for our company and our stakeholders, and we look forward to leveraging this momentum to further expand our footprint and deliver exceptional value.' This transaction comes as the latest in a series of debt issuances advised by EFG Hermes in the region. Most recently, EFG Hermes advised on Bedaya's sixth securitization issuance worth EGP 1.64 billion. It also advised Valu on its 14th securitized bond issuance, worth EGP 463.3 million, as well as the fifth securitization for Bedaya, valued at EGP 1.78 billion. The firm also concluded advisory on Sylndr's EGP 300 million working capital facility, in addition to a short-term note valued at EGP 433 million for EFG Corp-Solutions. EFG Hermes acted as the sole financial advisor, transaction manager, book-runner, underwriter, and arranger for the issuance. Commercial International Bank (CIB) acted as the placement and subscription bank. Legal advisory services were provided by Dreny & Partners, while KPMG was appointed as the auditor for the issuance.
Tahya Masr
3 days ago
- Business
- Tahya Masr
Madinet Masr Reports Results for Q1 2025
Madinet Masr, one of Egypt's leading urban community developers, announced its consolidated financial results for the 3-month period ended 31 March 2025 (Q1 2025). Starting this quarter, the Company will report its consolidated financial results, including its subsidiaries operating across construction, real estate investments, and other related business lines. For the first quarter of the year, Madinet Masr reported a net profit of EGP 794.9 million on total revenue of EGP 2.6 billion, with contracted sales exceeding EGP 11.5 billion. Key Highlights • Madinet Masr booked gross contracted sales of EGP 11.5 billion for Q1 2025, down 22.9% year-on-year, amidst a real estate market correction period compared to record-highs last year. • The Company increased its unit deliveries during Q1 2025 to 1,013 units, up 623.6% year-on-year from the 140 units delivered last year, a significant increase compared to the same period last year. • Madinet Masr recorded total revenue of EGP 2.6 billion in Q1 2025, down 16.7% year-on-year, due to a decline of 23.4% in revenues from new sales compares to last year. This decline comes as the market normalizes from exceptional demand last year, when widespread economic uncertainty had fueled a sharp rise in real estate investments. • Madinet Masr's gross profit booked EGP 1.7 billion in Q1 2025, decreasing 30.9% year-on-year on the back of decreased revenues and higher operating costs. This quarter's gross profit margin came at 65.2%, compared to 78.6% during the same period last year. • Madinet Masr recorded an EBITDA of EGP 1.0 billion for Q1 2025, declining 33.5% year-on-year, yielding an EBITDA margin of 40.7%. • Net profit stood at EGP 794.9 million for Q1 2025, declining 32.6% year-on-year in line with the overall decrease in the top line, with its associated margin normalizing to 31.0% for the quarter. • On the balance sheet front, Madinet Masr closed Q1 2025 with a consolidated net debt position of EGP 675.3 million, an improvement of 19.2% in debt, compared to a consolidated net debt position of EGP 835.6 million at the end of FY 2024. • Notes receivable recorded EGP 3.4 billion as of 31 March 2025, up from EGP 2.4 billion at year-end 2024, yielding a receivables/net debt ratio of (5.07) for Q1 2025 versus (2.92) at the close of FY 2024. Total accounts and notes receivable, including off-balance PDCs for undelivered units, amounted to EGP 66.1 billion as of 31 March 2025 compared to EGP 57.7 billion as of 31 December 2024. • Cash collections increased by 1.7% year-on-year to EGP 3.4 billion in Q1 2025 from EGP 3.3 billion in Q1 2024, reflecting improved collection efficiency. • Madinet Masr deployed EGP 1.5 billion in construction and infrastructure CAPEX in Q1 2025, up 44.5% from EGP 1.1 billion in Q1 2024, as the Company accelerated project execution and deliveries across its developments. Management Comment As we kick off the new year, I am pleased to present another strong set of financial and operational results, which showcase the resilience of our business model and the continued attractiveness of our value proposition. Our performance for the quarter in part reflects a high base effect resulting from exceptional sales during the comparable three-month period of last year, when widespread economic uncertainty had fueled a surge in real estate investment. Amidst a sector-wide normalization, we have successfully sustained our market position supported by a growing and increasingly diversified portfolio which continues to effectively cater to our customers' evolving needs and tastes. Diving deeper into this quarter's performance, the key highlight for us was without a doubt the remarkable growth of 623.6% in unit deliveries, which surpassed the 1,000 units mark for the quarter. This noteworthy performance directly reflects a series of strategic initiatives undertaken over the past twelve months to boost construction and unit deliveries and capitalize on the robust demand for our developments. In line with this, CAPEX outlays for the period jumped 44.5% year-on-year to EGP 1.5 billion while our unrecognized revenues backlog continued to grow in Q1 2025, recording EGP 73.1 billion compared to EGP 64.9 billion this time last year. Despite the previously mentioned sector-wide normalization witnessed during the first three months of 2025, we reported encouraging financial results across the board, with margins remaining above our historical averages supported by a Company-wide strategy to optimize spending and boost operational efficiencies. While navigating a fluid macroeconomic environment to deliver on our short-term targets, we also took meaningful steps towards our long term vision. During the quarter, we continued to invest in our innovative solutions for real estate ownership, maintenance, and facility management: Touba, Theqa, and SAFE. We take pride in being a leader in transformative real estate solutions in the Egyptian market, providing existing and potential customers with all-rounded solutions that cater to their diverse real estate needs. Our solutions place us at the forefront of Egypt's innovative real estate landscape, aligning Madinet Masr with cutting-edge global technologies and emerging trends. Heading into the summer months, we remain confident in our ability to grow our developments and deliver on our commitments. With a strong project pipeline, a diversified subsidiary base, and a proactive approach to market trends, Madinet Masr is well-positioned to sustain growth and generate long-term value for all of its stakeholders. Abdallah Sallam Chief Executive Officer
