Good morning, and a warm welcome back after the long weekend. We’re kicking off the shorter-than-usual work week with an issue packed to the brim with energy news, diplomatic efforts, investment updates, and more.

But before we get started, we’re almost a week away from this year’s EnterpriseAM Finance Forum, taking place on Tuesday, 24 September, and we’re taking the lid off the agenda

Headlining the EnterpriseAM Finance Forum: We’ll be joined for the first time on stage by a senior government official, who’s joining us to outline a vision for where we’re going as a community and as an economy. The keynote interview will get underway at 9am sharp, and you won’t want to miss our exclusive networking breakfast from 8am.

Among the topics on the agenda, which you can view here:

  • Welcome to the hot seat — top industry CEOs set the tone by addressing the biggest (and toughest) questions of the day.
  • Looking from the outside in — what foreign investors and strategics think about Egypt right now.
  • The only asset class in town — It’s real estate or nothing. We’ll get into the ins and outs of the industry, how it’s financing itself, which areas (and price points) are next, and more.
  • Gazing into that crystal ball — The outlook for dealflow in 2025, from M&A and IPOs to securitization, FX and more.
  • A once in a generation opportunity? — A deep dive into the promise and pitfalls of the emerging energy economy.
  • Do we really love banking SMEs? — With NBFIs and fintech players staking their claims, banks are starting to take the SME market seriously.
  • The NBFI panel — The resilience of the Egyptian consumer is the business story of the decade. How are banks and NBFS players building sustainable businesses? What are the opportunities — and credit worries — in the B2B space?

Haven’t requested an invitation yet? Do it today — space is limited. Tap or click heretolet us know you’re interested.

** IMPORTANT NOTE — If you’ve already received your invitation on email, you *must* click through to confirm you’re attending.

PSA-

WEATHER- It’s a cooler than usual day in Cairo today, with a high of 33°C and a low of 24°C, according to our favorite weather app.

Temperatures are also down in Alexandria, with a high of 30°C and a low of 24°C.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

WATCH THIS SPACE-

Egypt prepares Ras Banas for Ras El Hekma-esque investment plan: The Madbouly government is in the process of drafting an investment plan to offer the Red Sea’s Ras Banas to private sector players in a transaction similar to ADQ’s Ras El Hekma USD 35 bn agreement, Housing Minister Sherif El Sherbiny told reporters on Saturday.

FX from foreign investors, EGP from local investors: Although investors from abroad will invest FX into projects, Egyptian investors will be able to use invest in EGP so as not to put further FX withdrawal strain on the Central Bank of Egypt and to avoid the blackmarket returning, El Sherbiny added.

HAPPENING TODAY-

The Egypt-UK investment conference is here: Our friends at HSBC, together with UK Export Finance and Egyptian-British Chamber of Commerce, are hosting the Egypt-UK Investment and Opportunities Forum in London today. The conference will showcase investment opportunities in Egypt across different sectors — including renewable energy, water, automotive, food processing, IT, and AI — to potential investors from the UK. It will also facilitate matchmaking between institutions of both countries, bringing together government representatives, business leaders, and senior executives.

On the agenda: The event will feature presentations by GAFI head Hossam Heiba on supporting a sustainable investment climate, SCZone head Walid Gamal El Din on the economic zone’s investment proposition, and Advisor to the Vice Finance Minister Nevine Mansour on economic reform. The presentations will be followed by two panel discussions with large local and international companies — the first of which will discuss Egypt's growth potential and infrastructure and the second focusing on investment opportunities and success stories. The event will also offer three hours for one-on-one meetings (which must be scheduled in advance) and networking.

HAPPENING THIS WEEK-

#1- BEBA is on a mission to seek out investments in the UK: The British Egyptian Business Association (BEBA) is leading a business mission to the UK from 18-20 September under the theme Invest in Egypt: Your Gateway to Growth. The mission will include Finance Minister Ahmed Kouchouk, Investment Minister Hassan El Khatib, SCZone head Walid Gamal El Din, ACUD Chairman Khaled Abbas, and Financial Regulatory Authority boss Mohamed Farid, who will take part in ministerial sessions that aim to highlight the country’s “economic progress and ongoing reforms.”

#2- How will the fresh tax incentives be implemented? The Egyptian Tax Authority will unveil the implementation mechanisms of the recently-announced package of tax incentives this week, advisor to the head of the Tax Authority Saeed Fouad told Asharq Business.

Remember: The Madbouly government last week announced the first batch of new amendments to the tax system, which aim to ease the burden on taxpayers and build greater trust in the tax system, from filing tax returns to resolving disputes and integrating the informal economy.

CIRCLE YOUR CALENDAR-

The tenth edition of Techne Summit Alexandria will be held from 5-8 October in what event organizers bill as an “international multi-industry focused investment & entrepreneurship event that aims to impact multiple sectors and stakeholders of the startup communities in the Mediterranean region.” The four-day event is expected to draw in over 30k attendees, 1k startups, 200 investors, and 400 speakers who will take part in a “a diverse lineup of panels, fireside chats, roundtable discussions, workshops, meet-and-greets, one-on-one mentorship, networking events, community activities, and exhibitions.” Secure your tickets here.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

THE BIG STORY ABROAD-

Business news is having a hard time getting ink on the digital front pages this morning as another possible Trump assassination late yesterday continues to dominate the global press. Republican presidential candidate Donald Trump was targeted in what appeared to be another assassination attempt yesterday while golfing at his golf course in West Palm Beach, Florida. Trump was deemed safe after US Secret Service agents attached to the former president spotted a rifle barrel in a bush and engaged the gunman in fire, before arresting a suspect later, who was identified as 58-year-old Ryan Routh.

Trump’s would-be assassins missed, but Harris’ attacks on his economic record seem to have hit on target, with US voters trusting the Democrat candidate to steward the US economy over her Republican challender a thin margin of 2 percentage points according to the latest FT-Michigan Ross poll, up 1 percentage point from last month, the Financial Times writes. Harris holds an even higher advantage among those that tuned into last week’s US presidential debate, with 48% saying that they trusted Harris more to manage the economy compared to Trump’s 42%.

WHILE IN BUSINESS NEWS- NYC-based VC firm Insight Partners is close to finalizing a new tech fund worth at least USD 10 bn in a sign that tech investors are tiptoeing back into what has been a very tepid VC market.

AND OVER IN THE MEDIA SPHERE- Berlin-based media giant Axel Springer may soon see an agreement to split up its profitable classifieds business — valued at USD 15 bn — and its media outlets, which include US news sites Politico and Business Insider in addition to German publications Bild and Die Welt.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We’ll be looking at the government’s plans to attract more international foreign students into Egyptian public, national, and private universities, and how doing so could affect the number of university seats available for local students.

Tags: