ValU, the biggest financial technology services firm in the Middle East and North Africa, and Karm Solar, a multi-utility company that generates and distributes renewable energy, signed a new collaboration agreement.
The agreement seeks to create a District 5 electric vehicle charging station network through Karm Solar’s recently launched subsidiary “Karm.”
This cooperation provides electric vehicle charging stations in District 5, including the residential complex, to enhance environmental sustainability. Karm Solar’s electric vehicle charging infrastructure platform, Karm, is investing to accelerate the green transportation transformation.
Commenting on this partnership, Walid Hassouna, CEO of ValU, stated that the company is committed to supporting the development of sustainable communities by providing customers with secure and easy-to-use financial solutions. Hassouna pointed out that the extended partnership with Karm Solar will result in the sustainable expansion of electric vehicle charging stations in one of the most promising residential, entertainment, and commercial projects in East Cairo. Hassouna emphasized the importance of this partnership in facilitating the provision of solar energy technology to the residents of the District 5 residential complex, promoting the adoption of environmentally friendly practices, and reducing carbon emissions
It is important to note that this collaboration is consistent with each party’s commitment to enacting constructive change and producing long-lasting value that takes local social and environmental norms into account.
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This will be accomplished by utilizing Karm Solar’s cutting-edge renewable energy solutions and ValU’s vast experience in financial technology services, hastening the shift to a more sustainable future.
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There has been a notable surge in the demand for electric car licenses in Egypt, with 13,192 electric vehicles licensed thus far.
For his part, Ahmed Zahran, CEO of Karm Solar, expressed his delight with this cooperation, affirming the company’s commitment to leading the advancement of emerging technologies to build a smarter and more sustainable future. Zahran added that the collaboration with ValU would enhance their ability to expand their operations in a new and developed community like District 5, aligning with their primary mission of maximizing positive impact on communities across Egypt and North Africa.
About ValU
Valu is the top fintech platform that enables a lifestyle, providing businesses and consumers with easy access to a wide range of financial services.
About Karm Solar
Karm Solar, goal is to provide turnkey standalone solar energy applications that are economically competitive with fossil fuels, as well as to develop novel solar energy solutions for both on- and off-grid applications.
