Good afternoon, friends, we hope your week got off to a good start. The news cycle seems to be taking it easy today, and we’d suggest you do the same.

THE BIG STORY TODAY-

Banque du Caire, Safi + Wataneya to debut before IMF reviews: The government is planning to list stakes in Banque du Caire, Safi, and Wataneya ahead of the IMF’s delayed fifth and sixth loan reviews, two government sources told EnterpriseAM. The three IPOs are now expected to hit the EGX between August and September, one source added. The officials are pushing to wrap up at least four IPOs by the end of the year after the IMF merged its next two program reviews.

We’re likely looking at listing less than 30% in each of the companies, with the aim of broadening ownership after talks with strategic investors failed to reach agreement.

The government aims to drum up USD 5-6 bn in fresh investments by offering stakes in six companies on the EGX before 1Q 2026, one of the sources said. The plan is part of the broader structural reform agenda agreed with the IMF and is meant to bring in capital through the bourse.

Who else is on the list? Two maritime transport firms are on deck for listings, the source said. A sixth company is also in the pipeline, though details are still under wraps. Plans to list military-affiliated firms Safi and Wataneya date back two years, when they were named among 35 companies in the original privatization push. Both were added to the Sovereign Fund of Egypt’s pre-IPO fund last year for restructuring ahead of their listings.

THE BIG STORY ABROAD-

Trump threatens further tariffs: US President Donald Trump warned yesterday that he would impose a 30% tariff on all exports from two of his country’s largest trading partners — the European Union and Mexico — effective early August. Trump affirmed that any retaliatory tariff imposed by either party in response would be met with an equal increase on top of the established 30%. The US president had expressed his dissatisfaction with Mexico for not making sufficient effort to prevent fentanyl smuggling into the US, while noting that the US’ trade deficit with EU countries is unfair.

Countries react: European Commission President Ursula von der Leyen threatened appropriate countermeasures if necessary, emphasizing that the EU prefers negotiation. French President Emmanueal Macron called on the European Union to firmly defend the continent’s interests, adding that the bloc must be prepared to wage a trade war to confront the US president. Mexico also affirmed that its sovereignty is inviolable, and that the tariffs threatened by Trump represent an unfair deal. (Reuters | BBC | The Guardian | NBC | CNN)

enterprise

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We’re taking a look at how Egypt’s industrial zones are keeping up with Chinese demand.

☀️ TOMORROW’S WEATHER- It’s going to be another sunny day in Cairo tomorrow, with temperatures peaking at 36°C before cooling down to 23°C at night. Up north, we’re expecting relatively cooler weather, with a high of 28°C and a low of 25°C, according to our favorite weather app

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