Happy hump day and almost-THURSDAY-equivalent, friends. We’re nearing the end of this shortened workweek as we slide into our last long weekend for a while.

THE BIG STORY TODAY

Toyota Tsusho mulls establishing a car factory in Egypt: Japanese automaker Toyota Tsusho is set to establish two car factories in Africa — one of which could possibly be in Egypt — with a production capacity of 100k cars annually per factory, GAFI said in a statement. No further details were provided on the size or timeline of the possible investment.

THE BIG STORY ABROAD

The US banking crisis continues to lead the conversation in the international business press this afternoon, as the sector remains unassured after JPMorgan Chase agreed to buy the majority of First Republic Bank: CNBC | Reuters | Wall Street Journal | Financial Times

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

  • In the running for the SFE’s desalination tenders: The Sovereign Fund of Egypt has prequalified 17 consortiums to bid in its upcoming tenders for renewables-powered desalination projects.
  • Abu Qir Fertilizers + Sidpec to join the privatization list? The Madbouly government is reportedly considering selling secondary stakes in state-owned, EGX-listed companies Abu Qir Fertilizers and Sidi Kerir Petrochemicals.
  • Saudi retailer scraps plans to set up shop in Egypt: Saudi electronics retailer Extra, formally known as United Electronics Company, has shelved plans to establish a subsidiary in Egypt.

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 | Royal Ceramica

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.

🗓 CIRCLE YOUR CALENDAR-

PSA- Thursday is a national holiday in observance of Labor Day.

The NBA Basketball Africa League Nile Conference group phase kicked off last week andruns through 5 May at Hassan Moustafa Sports Hall in Sixth of October City. Six African teams will go head-to-head in Cairo to secure one of four slots in the playoffs and finals in Kigali, Rwanda in May, where they will face the top four teams from the Sahara Conference group phase that took place in Senegal in March, the NBA said.

☀️ TOMORROW’S WEATHER- Another sunny day: Our weather app suggests we’re going to see a daytime high of 32°C and nighttime low of 18°C.

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