Happy THURSDAY, ladies and gentlemen. For those of you reading us as you head up to the North Coast, we sincerely hope the roads are significantly less crowded than they were last weekend.

THE BIG STORY TODAY

Switzerland’s Smartenergy could invest USD 1 bn in green hydrogen facility in Egypt: Swiss-based private investment firm Smartenergy is reportedly in advanced talks with Egypt’s government to establish a USD 1 bn green hydrogen production factory, Asharq Al Awsat reports, citing Smartenergy CFO Rene Cotting. No further details were provided on when the company expects to sign agreements with the government, which Cotting said is “imminent,” or where the facility will be established.

THE BIG STORY ABROAD

There are three stories picking up traction in the international press:

  • A coup in Niger is featured on the landing pages of the BBC and Reuters, as soldiers have stated that they “dissolved the constitution, suspended all institutions and closed the nation's borders” reports the BBC. The current head of state, President Mohamed Bazoum, has been held by troops from the presidential guard in his palace from the early hours of Wednesday.
  • Kyiv’s big push in the conflict with Russia is headlining the front pages of the Associated Press and Financial Times, as Ukraine works to “dislodge Russian forces from the country’s southeast” coming as a part of their extensive counteroffensive which appears to center in Zaporizhzhia, reports the Associated Press, citing a Western official.
  • Ukraine’s drone effort received some attention from the Wall Street Journal , as it illustrates how the use of cheap first-person-viewer drones has made significant strides taking out expensive Russian tanks in the journal’s in-depth video.

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

  • Expect blackouts until the middle of next month: The Electricity Ministry expects the ongoing rolling blackouts to continue until the middle of August as pressure on the country’s power generation infrastructure continues amid the summer heat.
  • CMA CGM has its eye on a state-owned shipping company: French shipping giant CMA CGM is in early-stage talks with the government to acquire a stake in state-owned shipping firm National Navigation Company (NNC).
  • Our hotels are busy: Hotel occupancy rates across Egypt climbed to 80% in 1H 2023 from 65% in the same period last year.

MARK YOUR CALENDARS- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.

Do you want to become a commercial partner? Ping a note to Moustafa Taalab, our head of commercial, or fill out this form and we’ll be in touch.

STAY TUNED for more detail about our agenda.

DID YOU MISS THE ENTERPRISE EXPORTS AND FDI FORUM? Tune in to the Enterprise Podcast and listen for yourself : The Enterprise Podcast is back with another installment of our forum series, where we bring you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum, which took place in May.

WANT TO LISTEN? Head to: Apple Podcast | Spotify | Google Podcast | Anghami. We’re releasing a new episode every Sunday morning.

IN THIS WEEK’S EPISODE- We ask some of the biggest multinationals and suppliers operating here — namely, in logistics, e-commerce, and FMCG — what it is they’re looking for in a local partner, product or service and what are some of the pain points they’ve had to cope with. We were joined on that panel by Khaled Morsy, CEO of DB Schenker Egypt, Omar Elsahy, General Manager at Amazon Egypt, Tarek Kame l, Chairman and CEO of Nestlé Egypt and Sudan.

☀️ TOMORROW’S WEATHER- To nobody’s surprise, we have another hot day coming up with the mercury peaking at 41°C in the daytime and dropping to a nighttime low of 25°C, as per our favorite weather app.

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