EARNINGS WATCH-

Post for Investment sees top and bottom line grow over 30% y-o-y in 2023: Post for Investment saw its net income climb 32.4% y-o-y to EGP 664 mn in 2023, while its topline climbed by 30.7% y-o-y to EGP 1.1 bn during the same period thanks to strong performance of its portfolio companies, according to its latest earnings release (pdf).

CAPITAL MARKETS-

Another gold investment fund is on the way: A subsidiary of the National Bank of Egypt is applying to set up a gold investment fund in Egypt, according to the FRA Chairman Mohamed Faird in a cabinet statement yesterday. This would make for the third gold investment fund in the country, after Beltone Securities Holding and Evolve Holding launched Beltone Evolve Gold in January and Azimut and Evolve Holding launched the country’s first ever gold fund in May last year under the name AZ Gold. Around 103k individuals have so far invested in the two existing funds, he added.

SPEAKING OF GOLD- Egypt will host the first World Gold Council conference: Evolve Holding will host the first edition of the World Gold Council under the title Gold As An Asset Class and Financial Instrument in Egypt next Monday at the Marriott in Zamalek, it said in a statement (pdf).

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