Mahaseel Masr Secures Funding To Digitize Export Of Agric Produce
In order to support the growth of its electronic platform for regional and global agricultural crop trade, Crops Egypt, the first regional digital platform for exporting agricultural crops, and Emirates International Investment Company (EIIC), the strategic investment arm of the National Holding Company, have entered a partnership agreement.
The signing of this agreement supports providing the required medium-term financing, expanding the range of benefits from Crops Egypt’s expertise to enable its leadership in the global agricultural market, in accordance with international standards through techniques for documenting and coding farm features, and the possibility of tracking products, as well as securing payments and logistical operations and activating communicative transparency.
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Joseph Iskandar, Head of Investments at Emirates International Investment Company (EIIC), commented on the partnership: “In line with the Egyptian government’s strategic goals to double agricultural exports while attempting to reduce costs, as well as to maximise the value and improve the quality of agricultural crops, we see a positive transformation and significant potential for developing international agricultural trade. With an understanding of global expansion, we think Mahaseel’s digital platform will produce a quantum leap in the ability to respond to the demands of this dynamic sector, especially at a time when the world is experiencing significant fluctuations that threaten the stability of markets and global supply chains.”
For his part, Mohamed Abdel Rahman, CEO of Crops Egypt, stated, “The demand for safe, high-quality agricultural crops at competitive prices is growing strongly, driven by a rapid population increase and an increase in global awareness of the value of digital transactions as well as the immediate challenges facing global supply chains.”
He added, “The partnership with the leading company, EIIC, will achieve a set of the company’s primary goals, which are represented in geographical expansion, adding new technological and financial services, as well as simplifying supply chains by reducing the role of intermediaries, enabling simple farmers to join this growing digital world, and achieving qualitative advantages such as obtaining a fair price and joining To the world of digital services, which has become an integral part of the business.”
The platform is primarily founded on the premise of digitally connecting farmers with their clients both locally and globally, resulting in a digital boom on the size of the Egyptian and regional agricultural scenes.
Mahaseel Masr Mahaseel Masr
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
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