Good afternoon friends, and happy almost-Thursday. We have a reasonably paced news day on our hands after the ballots closed yesterday in our presidential elections last night, and before we start the inevitable slide into the end-of-year slowdown.

THE BIG STORY TODAY

B Investments submits MTO for OFH: B Investments has submitted a mandatory tender offer (MTO) to acquire up to 90% of Orascom Financial Holding (OFH), B Investments said in a disclosure to the bourse (pdf) today. The acquisition would see the EGX-listed private equity firm acquire the stake in OFH via a share swap agreement.

Background: OFH’s majority shareholder OTMT Acquisition and minority shareholder Orascom TMT Investments have agreed to sell their combined 51.72% stake in the company.

THE BIG STORY ABROAD

COP28’s tumultuous end took over headlines in the international press today. After the summit was extended by one day due to backlash over the too-lax wording of a draft agreement that circulated on Monday, talks have finally come to a close. A new agreement was settled on that managed to keep both the nations pushing for curbing fossil fuel use, and top oil producers like Saudi Arabia, satisfied.

Bye bye fossil fuels? The final agreement calls for a transition away from fossil fuels in an attempt to reach global net zero emissions by 2050. Although mended, several small island nations still aren’t happy with the outcome, wanting more binding language in the text. (Bloomberg | Financial Times | Washington Post | Reuters | Wall Street Journal)

Want more details? Take a look at Enterprise Climate ’s coverage.

COME WORK FOR OUR ADVISORY ARM- Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region’s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE, and beyond. Egyptian and foreign nationals alike are welcome to apply, but native-level verbal and written English fluency is a must.

WHO YOU ARE- We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data — with a keen eye for details and accuracy.

INTERESTED IN APPLYING? To apply for the position, drop us a line at jobs@enterprisemea.com and mention “Enterprise Advisory” in your subject line. Please send a solid cover letter telling us a bit about who you are and why you’re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.

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

  • Election vote count begins as polls close: The National Elections Authority (NEA) has begun to count the ballots in this week’s presidential election, it said in a presser yesterday as polls across the country prepared to close following three days of voting.
  • An EBRD hat-trick: The European Bank for Reconstruction and Development (EBRD) is loosening its purse strings with an approved USD 50 mn loan to Elsewedy’s United Metals Company and two loans in the pipeline worth a combined USD 35 mn for aiBank.
  • Polaris Parks is getting serious about its New October industrial zone:Industrial real estate developer Polaris Parks has allocated EGP 6 bn (USD 194 mn) to establish an industrial zone in New October City.

HELP GAZA-

Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.

The folks at Talabat are processing donations for a range of Gaza relief appeals by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.

Or check out our list of charities to which you can make direct donations via bank deposit and / or Fawry.

☀️ TOMORROW’S WEATHER- A sunnier day with the mercury rising to 24°C and dropping to cooler 16°C in the evening, according to our favorite weather app.

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