Good afternoon, friends. We’re off to a slow-ish start to this new workweek, although we’re not rushing to chalk it up to a (very) belated summer slowdown.

THE BIG STORY TODAY

The Club + Cairo Stadium heading to the EGX? Youth and Sports Minister Ashraf Sobhy and EGX boss Ramy El Dokany discussed the possibility of listing state-owned, privately managed The Club Sports Club and the Cairo Stadium on the EGX, El Dokany told Al Mal. The potential listing of the two entities comes after Ghazl El Mahalla FC attempted to become the first publicly-traded sports club in Egypt last year, but was left unable to find buyers, forcing the club to abandon the sale.

THE BIG STORY ABROAD

It’s one of those Sunday afternoons where the international business press has no unifying story leading the conversation , leaving us with a handful of headlines to take note of:

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

  • Inflation accelerated at a record pace for the second month running in July , as surging food costs and the impact of a series of devaluations maintained upward pressure on prices.
  • The pundits were in overdrive late last week and into the weekend , with everyone from Moody’s (more threats of a downgrade) to Citi (no longer bullish on our debt) and Bloomberg (devaluation is inevitable) weighing in on where the Egyptian economy goes next.
  • The budget deficit came in lower than expected last FY: Egypt’s budget deficit narrowed to 6.0% in the 2022-2023 fiscal year that ended on 30 June.

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.

LISTEN TO OUR PODCAST-

MISSED OUR PREVIOUS FORUMS? The EnterprisePodcast has you covered : The Enterprise Podcast’s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum and Enterprise Climate Forum.

WANT TO LISTEN? Head to: Apple Podcast | Spotify | Google Podcast | Anghami.

IN THIS WEEK’S EPISODE- It’s the very first panel of the Enterprise Climate Forum: Egypt brought home major victories from COP27, signing framework agreements for about USD 85 bn worth of green hydrogen projects, and announcing more than USD 10 bn in funding for the Nexus for Food, Water and Energy (NWFE) program. While we have a long way to go before much of the wins from COP27 will be tangible to the private sector, the opportunities in green hydrogen and NWFE are “now.” Our panelists helped explain how these two can be made actionable. We were joined by Jorgo Chatzimarkakis, CEO of Hydrogen Europe, Khalid Hamza, Director and head of Egypt at the European Bank for Reconstruction and Development, and Khaled Naguib, CEO of Hydrogen Egypt.

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*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We look at what a shortfall in natural gas supplies — caused by a combination of lower output levels and higher demand during successive summer heatwaves — means for Egypt’s fertilizer industry.

☀️ TOMORROW’S WEATHER- The mercury is set to rise again tomorrow, hitting a daytime high of 40°C, before falling to an evening low of 24°C, according to our favorite weather app.

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