Skip to content Skip to Search
Skip navigation

Egypt plans €100m smartphone recycling centre

By Divsha Bhat
The global refurbished and used mobile phone market is forecast to grow from $50bn in 2022 to $172bn by 2033 Reurters/Luc Gnago
The global refurbished and used mobile phone market is forecast to grow from $50bn in 2022 to $172bn by 2033
  • Expat Egyptian behind project
  • ‘Hurdles cleared’ for start
  • Refurbished market worth $50bn

A €100 million smartphone refurbishment and recycling plant is being planned for the Suez Canal Economic Zone. 

The man leading the project is named by Daily News Egypt as Samuel Mathias, an expatriate Egyptian who is said to be a Paris-based electronics engineer and business owner. 

The newspaper said that Soha Gendi, Egypt’s minister of emigration and Egyptian expatriates affairs, met Mathias this week to discuss the venture.

Person, Electronics, Mobile Phone

Newsletter
Get the Best of AGBI delivered straight to your inbox every week

The ministry is said to have given the project serious attention. Gendi is reported as saying that coordination with Hossam Haiba, CEO of the General Authority for Investment and Free Zones, has cleared any hurdles for its start.

The smartphone recycling project is also said to involve collaboration with a “key” global communications technology company from France.

Gendi said the factory’s investment should pass €100 million within the next two years, thanks to its prime geographical position and abundant resources to enhance its economic impact.

The global refurbished and used mobile phone market is forecast by the research company Statista to grow from $50 billion in 2022 to $172 billion by 2033 at a compound annual growth rate of 11.9 percent.

Latest articles

Adult, Male, Man

Saudi Arabia open to joint mining ventures with China

Saudi Arabia is open to joint investments with Chinese mining companies, mineral resources minister Bandar Alkhorayef has said. The kingdom is seeking collaborations in processing and producing lithium used in electric vehicle (EV) batteries, as well as processing and refining copper, the state-run Saudi Press Agency reported. During a meeting with senior executives of General […]

Saudi hotel llicences. Hajj pilgrims from Indonesia at a hotel in Mecca. Pilgrimages form a large part of Saudi Arabia's tourism goals

Saudi Arabia scraps hotel licence fees to draw investment

Saudi Arabia has removed licensing fees for hotels and resorts in a further effort to increase tourism and improve the kingdom’s investment environment.  The Ministry of Tourism and Ministry of Municipalities and Housing said they would ask hotel establishments to reapply for operating licences online. The decision applies to hotels, hotel apartments and residential resorts.  […]

Mubadala Getir New York

Mubadala applies to take full control of Turkey’s Getir

The Abu Dhabi sovereign wealth fund Mubadala has formally applied to take full control of the Turkish grocery delivery startup Getir. Mubadala had taken a majority controlling stake in the company in June this year as part of a restructuring programme, with a capital injection of $250 million. The filing to take over Getir was […]