Egypt will announce in two weeks the joint lead managers and legal counsels of the USD 3-4 bn USD-denominated eurobond issuance set to take place in around a month, said Finance Minister Amr El Garhy. 22 international investment banks have put in their bids to become joint lead managers of the issuance, El Garhy said. “This interest reflects the confidence banks have in Egypt’s economy,” he tells Al Mal. It appears all the big names are vying for it, including HSBC, Goldman Sachs, JP Morgan, NATIXIS and Citi (the last three having managed the last issuance), government sources tell the newspaper. El Garhy also stated that some eight leading international firms have thrown their hats in the ring.

Foreign Minister Sameh Shoukry will visit Addis Ababa next week for talks with his Ethiopian counterpart. The pair will discuss issues relating to the Grand Ethiopian Renaissance Dam, Reuters notes.

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