Good morning, friends and happy Monday to you all. We have another busy issue for you this morning, led by some much-welcome updates on our privatization efforts, with sources telling us the state could list the Gabal El Zeit wind farm on the EGX before January. We also got word that our first ever local sovereign sukuk could hit the market this month.

PSA-

#1- The International Finance Corporation is inviting startups in Africa to take part in its Connecting Africa’s Entrepreneurs study, which will help it “better understand the needs and preferences of entrepreneurs, and how these align with investors and accelerators in the ecosystem.” Entrepreneurs who complete the 30-minute survey will get their hands on a tailored market insights report from the IFC that compares their company with similar startups and investor preferences and be invited to webinars led by IFC officials and sector leaders.

#2- Your regular dose of diplomacy news now in audio form: The Foreign Ministry has launched its very own podcast dubbed Diplocast, where it plans to shed light on various aspects of diplomatic and consular works, according to a statement from the ministry. The platform gives voice to ministry officials and Egyptian diplomats to share their personal and professional experiences in the field.

Keep an eye out for episode 1, where media personality Ramy Radwan interviews Foreign Minister Badr Abdelatty.

#3- The new GEM website is live: The Tourism Ministry launched the Grand Egyptian Museum’s (GEM) new website ahead of its grand opening on 1 November. The website allows visitors to purchase tickets online, and access information on events, services, visiting details and hours.

WEATHER- It’s another sunny day in Cairo, with a high of 31°C and a low of 18°C, according to our favorite weather app.

It’s more or less the same in Alexandria, which is looking at a high of 30°C and a low of 19°C.

WATCH THIS SPACE-

#1- Could we see more hospitality and tourism projects developed under the PPP framework? Prime Minister Moustafa Madbouly and Public Enterprises Minister Mohamed El Shimi met with the heads of the government’s Holding Company for Tourism and Hotels (HOTAC) and Emaar Misr to explore bringing in private players onboard to develop state-owned assets into tourism projects through the public-private partnership (PPP) framework, according to a statement. This comes as Egypt works to expand its hotel room capacity and double its number of annual tourists to 30 mn, in addition to boosting private sector involvement.

The meeting highlighted several historic buildings and other state-owned assets that could be developed under PPPs, including the Cosmopolitan Hotel in Downtown Cairo, the Omar Effendi buildings across Cairo, and buildings in Alexandria’s Saad Zaghloul square. The plan also includes a number of hotels ready for a revamp, land plots ready to host hotels, and Carnelia Beach in Marsa Alam.

The Public Enterprises Ministry has already presented these investment opportunities to a list of local and foreign investors.

ALSO- El Shimi met with Talaat Moustafa Group CEO Hisham Talaat Moustafa, where they discussed efforts to enhance cooperation in the hospitality sector. Talks touched on boosting partnership between the ministry’s HOTAC and TMG, as part of state efforts to enhance public-private partnerships in the sector.

#2- The Madbouly government is currently working to overhaul the export framework in a bid to develop an integrated export system in line with international best practices, the finance and investment ministries said in a joint statement. The move aims to streamline export procedures and increase the competitiveness of Egyptian products globally.

Under the plan, efforts are underway to enhance the efficiency of export procedures at ports by setting up advanced inspection and detection units. These units — operating at export ports — are slated to streamline operational and logistics services. The ministries will also work to digitize export procedures to speed up the documentation process and cut costs, the statement read. AI will be utilized to streamline customs workflow.

EGX WATCH-

EGX hits fresh all-time high: The Egyptian exchange hit new record highs during Sunday’s session, driven by strong demand from local institutions and “liquidity rotation” between EGX30 and mid-cap stocks, Al Borsa reports.

Also driving the momentum: Strong institutional buying continues to drive the market toward new record levels, Arabeya Online’s Bassem Abou Ghanima told the news outlet. Money flew from stocks that saw great purchasing momentum in past periods into the chemicals and real estate sectors.

The breakdown: The EGX30 rose 0.6% to 37,910 points at yesterday’s close, led by a 5.1% jump in EgyptAlum’s stock, Mopco rising 3.7%, and Palm Hills up 3.1%.

Looking forward: Traders anticipate that the market’s upward momentum will persist in the coming session, although some investors may eye partial profit-taking to realize gains. However, this move is unlikely to disrupt the broader trend.

HAPPENING TODAY-

#1- It’s the final day for investors to bid for 386 ready-to-deliver industrial units across the country offered up on the Egypt Industrial Digital Platform, spread across 12 industrial complexes in 11 governorates, according to an Industry Ministry statement.

The offering includes units ranging between 48-792 sqm for engineering, chemicals, food, textiles, ready-made garments, metals, plastics, and pharma activities. It includes facilities in Beni Suef, Sohag, Red Sea, Qena, Assiut, Minya, Fayoum, Luxor, Alexandria, Aswan, and Gharbia. Applicants can own or lease the units.

The government is also offering a 5% declining interest rate on loans and bank financing covering up to 100% of the unit’s value, along with financing for equipment and machinery, and the provision of technical and marketing support through the MSME Development Agency.

#2- It’s day two of the Arab-African Investment & International Cooperationsummit. The four-day event, organized by the Arab Women Investors Union in Cairo, focuses on sustainable development, international partnerships, and capital pathways for this year’s edition.

#3- The Aswan Forum is in its second and final day. Under this year’s theme of A World in Flux, A Continent in Motion: Navigating Africa’s Progress Amid Global Shifts, the event is gathering leaders from Africa and further afield to discuss “African-led solutions that reflect the continent’s aspirations for peace, development, and prosperity.”

What went down during day one? Foreign Minister Badr Abdelatty had a busy day yesterday, delivering the keynote opening speech — which was followed by recorded messages from President Abdel Fattah El Sisi and UN Secretary General Antonio Guterres, where they highlighted the timeliness of this year’s forum. The minister also took part in a number of panels alongside his African peers; the panels covered development in Sudan, the Red Sea and how it could help Arab-African economic integration, and restoring trust in international order.

During one of the panels, Abdelatty unveiled the Suez and Red Sea Initiative for Economic and Maritime Development, aimed at strengthening economic integration among countries bordering the Red Sea. The initiative stands as a roadmap to promote sustainable development in the region through four main pillars: the blue economy, infrastructure and port development, environmental protection, and deepening economic integration.

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ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at Egypt’s rapidly growing cement industry. Check out the story here.

THE BIG STORY ABROAD-

Israel has reinstated a ceasefire in Gaza after airstrikes killed 26 people in Gaza yesterday, prompted by an attack in Rafah that killed two Israeli soldiers. Israel had briefly halted the truce and stopped aid entry into Gaza, accusing Hamas of a “blatant” violation. Following US pressure, the Israeli side announced that aid will once again start entering Gaza. (Reuters | BBC | AP | The Guardian)

ELSEWHERE IN THE WORLD- Eight crown jewels were stolen from the Louvre Museum in Paris after four thieves broke into the museum during opening hours and robbed it. The thieves had targeted nine objects but dropped the ninth one during their escape. A specialized French police unit is currently investigating the robbery. (Reuters | AP | NYT | CNN | BBC)

*** 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 look at how educational facilities are becoming an integral part of real estate developments.

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