Get to Know: AZ – Target Maturity Fund 2025🧐

Local Pickup🌇

Get to Know: AZ – Target Maturity Fund 2025🧐

Established by Azimut Egypt, AZ- Target Maturity is a low-risk savings & investment vehicle with plans to make periodical dividends.

What is a Target Maturity Fund🤨 A target maturity fund is a type of debt fund that has a specific maturity date. Generally, such funds carry lower interest rate risk & provide more predictive & stable returns.

This means that the fund will no longer be active when its maturity date is reached.

Subscription, Redemption & Dividends🤔 The initial subscription price is EGP 10, & the minimum number of certificates is 100 ICs.

Raya Holding Aims to Establish Micro-Insurance Arm📋

Raya Holding (RAYA) chairman Medhat Khalil said the company is studying the establishment of a micro-insurance company as a subsidiary of Aman Holding.

More Details🧐 RAYA’s subsidiary Aman Holding has a capital of EGP 615 million & is 76% owned by RAYA & 24% by the National Bank of Egypt (NBE). Aman provides a variety of financial services such as e-payments, consumer finance, & microfinance.

Why is this Important🤔 Khalil said that a micro-insurance company is in line with the RAYA’s plan to build a complete financial inclusion system. He added that RAYA aims to achieve an annual growth rate of “35-40%” in its non-banking financial services over the next three years.

Startup Spotlight💡 – Tawfeer Market Raises $500K in Seed Round🛒

Alexandria-based online grocery retail startup Tawfeer Market has raised $500K in its seed round led by Alexandria Business Angels Network.

More Details🧐 In a little over a year since launching in 2020, Tawfeer Market has been downloaded on more than 100K devices. The company has “tens of thousands of orders growing at a steady two-digit month-over-month growth.”

Tawfeer Market tries to offer the lowest prices by benchmarking its prices to match aggressive retailers like Carrefour, hence the “Tawfeer” part of the company’s name.

Why is this Important🤔 Tawfeer Market co-founder & CEO Ahmed Fasseeh said the Egyptian grocery retail market is valued at over $50 billion, but the Egyptian online grocery retail market share is way below global averages.

What else is Clapping👏

  • Taaleem (TALM) Reported Net Profits of EGP 71.87 Million in its Q1 FY-2022; a 23.6% Y-oY Increase

Global Pickup🌎

Facebook Meta One Step Closer to Losing Instagram & WhatsApp💔

Meta is facing one of the biggest challenges the U.S. government has brought against a tech company in decades, as court rules lawsuit aiming to break up Meta go ahead.

Backstory🔙 The Federal Trade Commission (FTC) saw its first complaint against Meta dismissed over the summer for its inability to prove that the tech giant was in fact a monopoly (Meta’s platforms have a combined 2.8 billion daily active users). This time around, the court approved the FTC’s revised lawsuit seeking to reverse Meta’s acquisitions of Instagram & WhatsApp. 

Why is this Important🤔 But, the dismissal of the first case was a confirmation of how difficult it is to prove that a company is a monopoly when its products are essentially free, like Google, Meta, etc. The judge who dismissed the FTC’s first lawsuit said that “market-share data doesn’t quite settle matters on its own, the FTC also has to show that Facebook’s alleged monopoly has been bad for consumers.”

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