EDUCATION-

Al Ahly CIRA’s Saxony Egypt University to kick off operations for the academic year 24-25: Al Ahly CIRA — an EGP 2 bn education investment company set up by CIRA Education and Al Ahly Capital Holding in 2021 — will commence operations at the Saxony Egypt University of Applied Sciences and Technology (SEU) in September after it received the greenlight from the cabinet, CIRA Education said in a press release (pdf). The private technological university will offer two-year diplomas and four-year bachelor’s degrees and is expected to begin operations with six programs including automotive, nursing, management, public health, logistics and sports management. A further 50 specialized programs will be launched within five years.

What they said: “SEU represents the largest private sector initiative focused on bringing technological education to the forefront in Egypt. This innovative endeavor is set to be a game changer, empowering emerging industries and services in Egypt across various disciplines,” CIRA CEO Mohamed El Kalla said.

TELECOMS-

Vodafone faces EGP 20.5 mn fine after last week’s outages: The National Telecommunications Regulatory Authority fined Vodafone Egypt EGP 20.5 mn and directed the company to compensate customers affected by the mobile operator’s technical glitch on Tuesday, according to an authority statement (pdf). The glitch prevented Vodafone users from accessing 4G mobile or data services Tuesday mornings.

CAPITAL MARKETS-

FRA takes another step towards launching its voluntary carbon market: The Financial Regulatory Authority (FRA) has issued the registration and delisting rules for companies looking to sell certified carbon credits on the EGX, according to an FRA statement.

Remember: The state’s financial regulator last month authorized three bodies to verify projects that claim to reduce carbon emissions, as the government takes the necessary steps to launch Africa’s first voluntary carbon market — a plan which first saw the light in 2022.

LEGISLATION-

Draft law to cap pretrial detention: The House’s Legislative and Constitutional Affairs Committee greenlit the draft Criminal Procedures Law on Thursday, which reduces the maximum duration of pretrial detention and argued that it should be used as a precautionary measure and not as a punishment. The draft law will be presented to the House ahead of the next plenary session.

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