HITC Sport understands that Zamalek have agreed a deal worth over £1million.
The 22-year-old Ivory Coast front-man has bagged eight goals for Killie this term, and is one of the most-talked about prospects in Scottish football.
But despite strong interest emanating from England with a number of Championship and League One clubs looking at him, he could be on his way back to his native Africa.
Souleymane Coulibaly in action at Tottenham
The one time Tottenham Hotspur youngster - who joined Killie in the summer from Peterborough United - was the subject of a bit from Al Ahly - as revealed on HITC Sports - but as is so often the case in Egyptian football, their main rivals Zamalek have now stepped in with a rival offer.
HITC Sport understands that Zamalek have offered a deal which could rise to over £1million, and now talks are ongoing between Coulibaly's representatives and the club.
Al Ahly are understood to still be keen on landing the player, but Zamalek are in pole-position to clinch Coulibaly's signature.
Ivory Coast's Souleymane Coulibaly celebrates scoring