Good afternoon, friends, and welcome to the second half of a shorter-than-usual workweek.

THE BIG STORY TODAY

The Smart Village Development and Management Company is planning to offer a 30-35% stake in an IPO on the EGX in 1H 2025, according to two separate disclosures by Naeem Holding and its real estate investment vehicle Reacap Investments (here and here). The offering is currently pending regulatory approval.

What we know so far: The company aims to raise approximately EGP 2 bn from the upcoming IPO, with proceeds earmarked for the development of a new Smart Village in East Cairo and to fund ongoing expansions in West Cairo, anonymous sources told Asharq Business. The offering will also be done through a capital increase, one of the sources said.

AND- Adenia Partners sets up shop in Egypt: Mauritius-headquartered private equity firm AdeniaPartners has opened a new office in Egypt, marking its eighth location across Africa and second in North Africa, it said in a press release. The expansion comes on the heels of Adenia’s USD 470 mn Capital V fund, its first pan-African vehicle targeting mid-sized companies, with Egypt singled out as a key target due to the size of its economy. Heba Hakky will oversee the new office as its principal.

Where’s the money headed? Adenia seeks to capitalize on investment openings in Egypt’s consumer goods, healthcare, education, and financial services sectors, according to Managing Partner Stéphane Bacquaert, who highlighted Egypt’s “expanding consumer base, young, well-educated population, and stable economic and financial environment with an abundance of interesting and fast-growing businesses.”

THE BIG STORY ABROAD

Our region of the world is once again dominating the international business press, with reports that Israel is deploying thousands more additional troops for its invasion of southern Lebanon — bringing the number up to around 20k. The big question and concern for diplomats and intelligence chiefs remains how Israel will do respond to Iran’s missile barrage last week, with Israeli Defense Minister Yoav Gallant traveling to Washington amid US efforts to rein back Israeli retaliation it fears could unleash a wider and more prolonged war.

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

  • 5G licenses for all: The National Telecom Regulatory Authority inked USD 450 mn worth of agreements granting 5G service licenses to Vodafone Egypt, Orange Egypt, and e& Egypt.
  • SFE is in line for a shakeup: In its first session back, the House of Representatives preliminary approved government-drafted amendments to the law regulating how the Sovereign Fund of Egypt operates.
  • A message from Vodafone: As global networks expand and technology excels, the need for reliable, high-quality infrastructure has become increasingly critical. In response to the dynamic shifts in global networks, we at Vodafone have joined forces with El Sewedy Group, signing a strategic partnership aimed at localizing advanced telecommunications equipment manufacturing in Egypt.

☀️ TOMORROW’S WEATHER- Stable temperatures are now skewing warm, with tomorrow’s temperature expected to reach a high of 34°C and a low of 22°C in the capital, according to our favorite weather app.

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