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Last night on the airwaves: A fresh package of incentives for industrial projects, the EGX30’s record-breaking performance yesterday, GERD, and the upcoming presidential election all received attention last night.
More measures to boost manufacturing: The latest package of measures aimed at supporting the manufacturing sector and drawing new foreign investment was one of the key talking points on the airwaves last night, with Ala Mas’ouleety (watch, runtime: 8:49), Masaa DMC (watch, runtime: 6:22) and Al Hayah Al Youm (watch, runtime: 5:31) all giving it airtime. We have more on the story in this morning’s news well, above.
Investors chime in: In an interview on Ala Mas’ouleety, Moharram Helal, head of the Egyptian Federation of Investors Associations, had little to say on the new measures, though he called for the government to equip land with the basic amenities and services before it is marketed to investors. This, he claimed, would fast-track the allocation of land to foreign investors (watch, runtime: 5:00).
Five new plants backed by UK investors ? Several British investors are planning to make investments worth USD 15-25 mn each before year end to establish five new factories in Egypt, with one of them for manufacturing cattle feed, Helal said, without providing further information (watch, runtime : 5:01).
A record-breaking day on the EGX30: Speaking on Masaa DMC, capital markets expert Wael Enaba claimed the rally in Egyptian shares yesterday, which drove the benchmark EGX30 index to a record high, was driven by the appointment of Ahmed El Sheikh to lead the bourse and Egypt’s inclusion in the Brics (watch, runtime: 3:34). We have more on this in What We’re Tracking Today, above.
GERD talks resume: All of the talking heads gave airtime to the new round of GERD talks between Egypt, Ethiopia and Sudan that started yesterday. We have more on this in the news well, above. Al Hayah Al Youm (watch, runtime: 1:08), Masaa DMC (watch, runtime: 0:51), and Ala Mas’ouleety (watch, runtime: 12:15) all had coverage.
Election 2024: The Congress Party and the Misr October Party are the latest to announce their support for President Abdel Fattah El Sisi’s expected reelection bid. This follows similar announcements last week from pro-government party Mostaqbal Watan and the Free Egyptians Party (watch, runtime: 2:10).
