{"id":354803,"date":"2026-07-30T04:40:10","date_gmt":"2026-07-30T04:40:10","guid":{"rendered":"https:\/\/www.europesays.com\/africa\/354803\/"},"modified":"2026-07-30T04:40:10","modified_gmt":"2026-07-30T04:40:10","slug":"spains-konecta-is-investing-usd-100-mn-to-build-its-ai-hub-out-of-cairo","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/africa\/354803\/","title":{"rendered":"Spain\u2019s Konecta is investing USD 100 mn to build its AI hub out of Cairo"},"content":{"rendered":"

Spain\u2019s Konecta<\/a> Group has officially opened its Middle East and Africa headquarters in New Cairo, backed by a USD 100 mn investment plan, according to a press release (pdf).<\/a> The unit will host the group\u2019s first global Center of Excellence for Generative AI, building the AI and agentic tools \u2014 including its Kolibri orchestration platform \u2014 that the company deploys globally. Konecta currently runs roughly 800 specialists out of Cairo and plans to nearly quadruple that to about 3k by the end of 2028, serving clients across the Middle East, Africa, Europe, and the Americas.<\/p>\n

Not a yes, not a no<\/p>\n

B Investments neither confirms nor denies earlier media reports<\/a> that a consortium it leads is looking to raise its stake in the Scientific Research, Education, and Development Company to 40%, up from 25%, according to a bourse filing (pdf)<\/a>. The EGX-listed investment firm said any additional investment in the entity behind the European Universities in Egypt \u201cwill be studied.\u201d B Investments first bought into the entity in April<\/a>, pledging EGP 560 mn, as it looks to double down on education assets.<\/p>\n

More time to weigh the bid<\/p>\n

The Financial Regulatory Authority has extended the New Construction Chemical-Escom consortium\u2019s voluntary tender offer for Spinalex to 13 August, according to an EGX disclosure (pdf)<\/a>. The bidders are looking to acquire up to 48.41 mn shares \u2014 a 13.42% stake \u2014 at EGP 15 apiece, according to the disclosure.<\/p>\n

REMEMBER- Full uptake would lift the consortium and related parties\u2019 holding to 33% from 19.58%, stopping just short of the 33.33% threshold that would trigger a mandatory offer for the remaining shares, as we reported earlier this month<\/a>. The targeted stake is valued at EGP 726.15 mn.<\/p>\n

Egypt, Madagascar ink five MoUs<\/p>\n

Egypt and Madagascar signed five MoUs<\/a> covering political consultations, maritime transport and port development, investment, AI and digital transformation, and youth and sports, according to Ahram News<\/a>.<\/p>\n

Why this matters: Cyclones Fytia and Gezani caused damage equal to 3.4% of Madagascar\u2019s GDP<\/a> in early 2026 and destroyed close to 70% of the housing stock in Toamasina, its second-largest city and main port. Madagascar received USD 225 mn in financing from the World Bank for urban reconstruction this July. Both countries also sit inside COMESA\u2019s freetrade area, and Egyptian contractors already have a foothold on the ground: the Egyptian consortium EGAAD was developing a USD 300 mn<\/a> road project in Madagascar, one of several African infrastructure wagers the group has made in recent years.<\/p>\n

More on our radar:<\/p>\n

Arabia Developments has secured approval to launch fractional real estate investment services and is preparing to list its first assets through the new CoWealth platform. The group set up a real estate fund and a separate promotion, underwriting, and fund-management arm to operate under the FRA\u2019s fractional ownership framework. (Company statement<\/a>)<\/p>\n

\n\tRelated<\/p>\n","protected":false},"excerpt":{"rendered":"Spain\u2019s Konecta Group has officially opened its Middle East and Africa headquarters in New Cairo, backed by a…\n","protected":false},"author":2,"featured_media":354804,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21],"tags":[143305,170787,1982,148594],"class_list":["post-354803","post","type-post","status-publish","format-standard","has-post-thumbnail","category-egypt","tag-also-on-our-radar","tag-b-investments","tag-egypt","tag-itida"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@africa\/117007091073060133","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/354803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/comments?post=354803"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/354803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/354804"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=354803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=354803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=354803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}