CORRECTIONs - A couple of Mia Culpas this morning with our apologies. First, a grave typo went out yesterday in our coverage of inflation report. Monthly inflation recorded 0.8% in June 2017 for both core and urban inflation and not 1.8% as we have said in the story. We would also like to clarify in our story on university tuition increasing 10%, we had said that the American University in Cairo collects half of its fees in USD or EGP equivalent, which is not the case anymore. AUC had amended its tuition payment policy in March to cope with the EGP float, whereby Egyptian students pay their tuition in EGP. We don’t like making excuses for ourselves, but if we had to, we pick the heat. h/t SE and DR
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Swvl is not dropping off of Nasdaq just yet, as company turns to the black in 2025
The company turned a profit last year, allowing it to…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…