Good afternoon, wonderful people, and happy Sunday. We’re kicking off this week on a relatively calm note.

THE BIG STORY TODAY

Valu issued EGP 922.3 mn worth of securitized bonds as part of a new EGP 4 bn securitization program, according to a statement (pdf). The single-tranche issuance has a 12-month tenor and a Prime 1 (sf) rating.

THERE’S JUST ONE DAY TO GO- The Enterprise Finance Forum takes place tomorrow 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.

This invitation-only event begins at 8:00am with a standing networking breakfast and will end at 1:20pm both days.

** Registered attendees will receive their personal QR code today. Please bring this code with you both days to guarantee access to the venue.

There will be plenty of parking available at the venue for all those attending.

Tap or click here to view the FULL AGENDA with SPEAKERS.

What to expect: Join Karim Awad (group CEO, EFG Holding), Hazem Moussa (chairman, Contact Financial Holding), Tamer El Emary (group CEO, GB Capital), Todd Wilcox (CEO, HSBC Egypt), Leila Serhan (group country manager and senior vice president for North Africa, Levant and Pakistan, Visa), Pakinam Kafafi (CEO, Taqa Arabia), and many others for talks on everything from investing in uncertain times, to whether NBFIs are a bubble, and what the customers of financial institutions are saying about their bankers behind their backs.

** 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, FABMISR, HSBC, Mashreq, Banque du Caire, CI Capital, Global Corp, Visa, Hassan Allam Utilities, the IFC, and Post for Investment.

THE BIG STORY ABROAD

There’s no single unifying theme in the international business press this afternoon. Among the stories making the rounds:

  • The disappearance of the Chinese defense minister is putting global players on edge as they question President Xi Jinping’s strategy. (Reuters)
  • Rising interest rates are putting a damper on companies’ share buyback programs. (Financial Times)
  • The economic impact of the strikes in the US? Some 4.1 mn days of work were lost. (Wall Street Journal)
  • Airlines are concerned that higher costs are eating into their bottomlines. (CNBC)

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

  • Fresh wage hike, tax cut + social support as inflation bites: President Abdel Fattah El Sisi instructed the government to introduce further measures aimed at alleviating the impact of the economic crisis on vulnerable households.
  • Acdima to set up USD 165 mn factory in SCZone: The Suez Canal Economic Zone (SCZone) board on Thursday greenlit a decision allowing the Arab Company for Drug Industries and Medical Appliances(Acdima) to set up a USD 165 mn factory for the production of 28 active substances used in the pharma industry.
  • All about expats and FX at the weekly cabinet meeting: The Madbouly cabinet last week approved changes to two of its expat-focused FX-raising schemes — bringing back its initiative allowing Egyptians living abroad to import a new car to Egypt, and tweaking its citizenship-for-FX scheme.

enterprise

*** 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 the package of incentives the government is set to roll out for industrial players, including tax breaks and reduced land prices.

? CIRCLE YOUR CALENDAR-

Fintech players and tech + cybersecurity professionals are gathering for Digified’s event, Digital Identity Trends: A Vision for Tomorrow, this Wednesday, 20 September at the Greek Campus. The event will discuss the latest in identity verification technology trends, including industry leaders, innovative startups, according to a statement (pdf).

☀️ TOMORROW’S WEATHER- Can we safely say the heatwave is over? We can expect milder temperatures with a high of 37°C during the day, dropping to a cooler 22°C in the evening, according to our favorite weather app.

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