THIS EVENING: Private + int’l schools get clarity on this year’s tuition fee hikes

Good afternoon dear readers, and happy ALMOST-THURSDAY. We hope that you have been able to manage the heat, along with the increased traffic as schools are back in full-throttle.

THE BIG STORY TODAY

New adjustments to the cap on tuition fee increases in private + international schools : The Education Ministry has issued a decision imposing a tiered system for annual tuition fee increases for international and private schools, ranging from 6-25%, according to Ahram Online. Schools with tuition fees at EGP 35k and above will be allowed to raise fees by 6%, while those with tuition fees below EGP 5k per year will be allowed to hike fees by up to 25%.

If you haven’t already, it’s time to let us know you’re interested in attending the Enterprise Finance Forum.

COUNTDOWN- There are just 12 days until the Enterprise Finance Forum, which takes place 18-19 September (Monday and Tuesday) at the St. Regis Hotel on the Nile Corniche. This flagship forum is the latest in our must-attend series of invitation-only events, where CEOs, bankers, investors, founders, and corporate leaders will meet to discuss the trends shaping the future of banking, finance, NBFIs, and fintech — and of their clients.

You won’t want to miss this one: Join Basel El Hini (chairman, Housing and Development Bank), Hazem Hegazy (CEO and vice chairman, Al Baraka Bank), Ibrahim El Missiri (CEO, Somabay), Lamyaa Gadelhak (partner, Baker McKenzie), Ashraf Sabry (founder and CEO, Fawry), Dalia Wahba (CEO, Hassan Allam Utilities) and many others for talks on everything from how banks are transforming, to calling the future giants in fintech. Stay tuned for the unveiling of our full list of speakers in the coming days.

Tap or click here to REQUEST AN INVITATION or view the FULL AGENDA.

We are honored to count some of the region’s most important financial institutions as our partners for this special event. The Enterprise Finance Forum could not take place without the support of our partners including Banque Misr, Al Baraka Bank, FAB Misr, HSBC, Mashreq, CI Capital, Global Corp, Visa, Hassan Allam Utilities, and the IFC.

THE BIG STORY ABROAD

The international business press can’t seem to agree on the leading story today, but Big Tech is getting some heat. The EU’s Digital Markets Act has tagged Apple, Alphabet, Meta, Microsoft, and China’s ByteDance as “gatekeepers,” suggesting that they are restricting users from properly accessing services such as online searches, advertising, messaging and communications. (CNBC | Reuters | Bloomberg | Financial Times)

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

• Contraction in business activity stabilizes: Activity in Egypt’s non-oil private sector shrank at the same rate in August as the month before.
• Sanlam and Allianz move forward with their pan-African merger: South African non-banking financial services firm Sanlam and global insurer Allianz have received regulatory approvals to merge the bulk of their African operations, creating the largest pan-African non-banking financial services business on the continent.
• EFG Hermes once again topped the EGX’s brokerage league table in August, with a market share of 16.0%.

☀️ TOMORROW’S WEATHER- Summer’s not over yet: The mercury will rise again to peak at 43°C and will drop to 28°C in the evening, according to our favorite weather app.