Egypt's Future Care will build an EGP 100 million medical factory targeting exports to Africa and the Gulf.
TL;DR
Medical sterilization firm Future Care is planning a new EGP 100 million factory to expand its export capacity to Africa and the Gulf region.
The factory will be partially funded by an EGP 57.5 million capital raise that enabled the company's recent graduation to Egypt's main exchange (EGX).
Intelligence
Future Care spent 14 years on the SME board before nearly doubling its capital to clear the EGP 100 million threshold required for main board trading.
Future Care’s transition to the EGX main board and its subsequent export push reflects a growing trend of Egyptian manufacturers leveraging public markets to scale across the continent.
By targeting African and Gulf export markets, the company aims to secure foreign currency revenues to hedge against Egypt's macroeconomic pressures.
Watch for the company to announce its factory site and secure the remaining EGP 50 million in financing to kickstart phase one.
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