Good afternoon, wonderful people. Pat yourselves on the back for making it through the last work day of Ramadan — and nearly to the finish line of the holy month. We hope you all have a restful, enjoyable long weekend with family and friends.

Enterprise will be off starting from tomorrow through to next Tuesday, 25 April. Look for EnterpriseAM, Enterprise Climate, Enterprise Logistics, and EnterprisePM to return to your inboxes at the usual times on Wednesday, 26 April.

THE BIG STORY TODAY

Egyptian soldiers who were caught in the clashes in Sudan have been transported to Khartoum and will be handed over to Egypt soon, Sudan’s Rapid Support Forces said today. The soldiers were in the northern Sudanese town of Merowe for a joint training mission with their Sudanese counterparts when the fighting broke out over the weekend.

Want to understand the conflict in Sudan? We break down what’s happening in our neighbors to the south and the history behind the conflict in today’s Enterprise Explains, below.

FACT CHECK- The Kuwait Investment Authority is not involved in a potential stake acquisition in United Bank, the authority said in a statement. United Bank is part of the Madbouly government’s rebooted privatization program, that means to divest 32 state-owned companies, curb government involvement in the economy, and shore up much needed FX.

THE BIG STORY ABROAD

There’s no single story capturing the attention of the international business press this afternoon. Among the front-page headlines:

  • India overtakes China as world’s most populous country. (Financial Times)
  • Supreme Court action expected in abortion-pill case. (The Wall Street Journal)
  • More women describe enduring forced abortions in Nigerian Army programme. (Reuters)
  • B’naire Ray Dalio set to open branch of family office in Abu Dhabi. (Bloomberg)

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking place on Monday, 15 May. The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help Egypt build an export-led economy that makes us a magnet for foreign direct investment (FDI).

Why exports & FDI? In the wake of successive floats of EGP, exports and FDI have never been more important to our economy — or our businesses. We’re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what Egypt as a country can do to draw foreign investment and much-needed FX. Expect it to be heavy on lessons learned in Egypt and other global growth markets — and lots of success stories.You can learn more on our conference website here.

And what better place to discuss moving our goods than Egypt’s original logistics zone — the Nile. That’s why we’re looking forward to holding the event by the river’s vistas at the Four Seasons, Nile Plaza.

Some of the biggest names in business and finance are on board — are you? The Enterprise Exports and FDI Forum is taking place with the generous support of our friends, including:

Banking partners: Banque Misr | Al Baraka Bank | Emirates NBD | HSBC

Lead partners: DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr

Event partners: Beyti | Concrete | Global Corp | Grant Thornton | Hassan Allam Utilities

WANT TO BECOME A COMMERCIAL PARTNER? Ping a note to Moustafa, our head of commercial, here.

HAVEN’T REQUESTED AN INVITE YET? If you’re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please fill out the form here to signal your interest, letting us know your name, title and where you work.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • Egytrans is one step closer to acquiring NOSCO via a share swap: Egytrans’ board of directors approved the acquisition of trucking firm the National Transport and Overseas Services Company (NOSCO).
  • Zohr gas output slumps in 2022: Gas output from Eni’s giant Zohr gas field dropped 11% y-o-y to 2.5 bn cfd in 2022.
  • Eni is preparing to start drilling an exploration well at its Mediterranean North East Hap’y concession in September.

☀️ TOMORROW’S WEATHER- It’s going to be a pleasantly warm long weekend, with daytime highs ranging between 29°C tomorrow and Friday to 33°C and 34°C on Monday and Tuesday here in the capital city. Expect the mercury to fall to 14°C tomorrow evening and 15°C on Friday, before averaging at 17-20°C for the rest of the long weekend.

Tags: