Good morning, all. We have a brisk issue for you this morning to ring in one of the last work days before Ramadan comes along.

PSA-

A new round of industrial land offerings goes live on 1 March: The Industry Ministry is offering 2.2k industrial land plots covering a cumulative 13 mn sqm across 22 governorates through the Industrial Digital Platform from 1 to 7 March, according to a ministry statement.

This round is set to see some changes: The ministry is launching the second phase of the platform’s development, with three additional services — building permits, validity statements, and industrial registration — added to the platform’s menu of services. Interested investors can also now apply for one primary and one alternative land plot, which will give them a higher likelihood of receiving a plot, according to the statement.

REMEMBER- The government has been trying to address a lack of industrial land — as well as widespread land hoarding — by offering significant swathes of land to investors via a newly launched digital platform amid a wider regulatory reset to ensure that industrial land is being used effectively. The Industrial Development Authority most recently offered over 2.6k land plots in December.

WEATHER- The temps remain chilly in Cairo today, with partly cloudy skies and a high of 16°C and a low of 9°C, according to our favorite weather app.

It’s much the same in Alexandria, with a high of 16°C and a low of 10°C amid mostly cloudy skies.

** 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.

ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at manufacturers’ priorities ahead of planned reforms to the customs regulations.

FROM THE DEBT MARKETS-

The Central Bank of Egypt sold EGP 89.8 bn in t-bills between Thursday and yesterday at average yields between 25.5-29.2%, according to data on the central bank’s website. The CBE auctioned off EGP 20 bn worth of one-year t-bills at an average yield of 25.54%, EGP 30.4 bn worth of six-month t-bills at an average yield of 27.66%, EGP 32 bn worth of three-month t-bills, and EGP 7.4 bn worth of nine-month bills.

HAPPENING TOMORROW-

#1- The Oil Ministry's international tender for 12 oil and gas exploration blocks in the Mediterranean and Nile Delta closes tomorrow. The tender, which includes 10 offshore and 2 onshore blocks, has attracted significant interest from companies, a high-profile government source told EnterpriseAM. The selected bidders will be announced in 1H 2025, the source added.

#2- Dar Al Handasah’s venture arm Dar Ventures will host the DarE Investors and Founders Dinner on Tuesday, 25 February at Novikov Doha Restaurant & Beach Club in Doha. The event features a gathering of investors and founders from the DarE program, which operates in architecture, engineering, and construction sectors. Attendees will network, exchange insights, and discuss sector opportunities during an evening meeting.

FROM THE HOUSE-

The House will vote on the Criminal Procedures Law today, wrapping up extended discussions. MPs cleared 63 articles yesterday, leaving just 13 articles to be discussed and voted on today before the entire bill is up for a final vote.

A major sticking point was Article 523, which mandates state compensation for wrongful pretrial detention, provided that the person seeking compensation has not been detained pretrial in other cases. Al Wafd Party’s Mohamed Abdelalim called for its removal, saying it complicates payouts and contradicts the constitution. House Speaker Hanafi Gebaly countered that the provision is a progressive step in line with constitutional rights.

Article 522 was amended to impose harsher penalties for revealing protected witness identities, with prison sentences and fines starting at EGP 50k. MP Ayman Mehasseb — who proposed the amendment — called it a critical step in strengthening witness protections and ensuring justice, Youm7 reports.

RED SEA WATCH-

More ships are rerouting through Suez Canal, says Rabie: Forty-seven ships changed course this month to pass through the Suez Canal instead of sailing around the Cape of Good Hope, Suez Canal Authority head Osama Rabie said at the Marlog conference. This follows Rabie’s ongoing charm offensive to encourage shipping giants to return to the canal.

REMEMBER- The SCA head sees Suez Canal traffic gradually normalizing by late March and fully recovering by mid-year. The canal also has recently completed an EGP 9 bn expansion that is expected to improve navigation through the canal by 28%.

THE BIG STORY ABROAD-

Germany’s critical elections are in the spotlight this morning: Center-right Christian Democrats came on top after snapping up 29% of the vote, with leader Friedrich Merz promising “independence” from an indifferent United States.

The bloc still needs one more coalition partner for majority, as far-right Alternative for Germany came in a close second with 21%, its highest share ever. Investors will be watching closely for government negotiations, hoping for a “debt brake” reform soon that will ease restrictions on fiscal spending and spur growth.

MEANWHILE- Israel has sent tanks into West Bank for the first time since 2002, saying it will not allow any displaced Palestinians to return. (CNBC)

*** 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 dive into the plans of a consortium of local, Emirati, US, and Canadian investors to funnel USD 100 mn into setting up five private schools in the country over the next five years.

Tags: