Good morning, folks, we kick off the last week of the month with a busy issue, led by a dive into the future of Egyptian steel after the US hiked tariffs.

Here’s what we know: Egyptian rebar exports heading to the US now face a near 80% tariff after the US introduced an additional 29.5% countervailing duty this month. This accompanied with the EU pushing ahead with CBAM, local steel players appear to have a tough 2026 ahead.

Also in today’s issue: We have a latest update on the Orascom Construction-OCI Global merger — Orascom Construction’s shareholders signed off on the move but OCI Global continues to face regulatory hurdles; A first look at the upcoming parliamentary agenda; And a look into BMI’s crystal ball.

PSA- Today is 25 January Revolution and Police Day — but you likely still have work. Public and private sector workers are getting Thursday, 29 January — instead of Sunday, 25 January — as a paid holiday in observance of the 25 January Revolution and Police Day, Prime Minister Moustafa Madbouly announced last week.

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WEATHER- The brisk weather continues in Cairo today, with a high of 22°C and a low of 12°C, according to our favorite weather app.

It’s much the same in Alexandria, with a high of 22°C and a low of 11°C.

Watch this space

CUSTOMS — The Madbouly government is preparing to launch a fully automated export system on April 1, two senior government officials tell EnterpriseAM. Based on the Unified Consignment Reference (UCR) and integrated into the Nafeza platform, the system is designed to slash customs clearance times from the current average of eight days to just 48 hours — and eventually, to a matter of hours.

The move to say goodbye to paper-based procedures will bring 32 government entities, 130 customs entry points, 445 international shipping lines, and exporters onto one platform, one of the sources tells us. This integration will speed up approvals for the roughly 2k export certificates issued daily to just a matter of minutes, with exporters notified automatically on any updates, the source added.

The adoption of the World Customs Authority standard UCR system will provide customs officials with a single audit trail from order to border. The universal tracking ID for shipments that links commercial data to transport documents to provide a single and complete audit trail from the point of origin to the final destination is expected to accelerate clearance times by helping Egypt move toward risk-based inspections, instead of blanket manual checks, and reduce foul play.

Why it matters: If the government is to hit its ambitious USD 145 bn annual export target by 2030, it has to provide liquidity to exporters when they need it. Under the EGP 45 bn export support program in the current fiscal year, some exporters wait up to six months after the shipment leaves port before they receive any financial support, we were told. The new system — which we are told will also not result in additional fees for exporters — will enable export investments to be paid out immediately.

IPO WATCH — Gourmet is looking to raise up to EGP 1.3 bn by taking thecompany public, offering a 47.6% stake at an indicative price range of EGP 6.20-6.90 per share, according to an announcement (pdf) out yesterday. This gives the grocer a market cap of EGP 2.5-2.8 bn.

The final share price is expected to be announced next Sunday and we can expect trading to start “on or around Monday, 9 February.”

Institutional investors can compete for 80% of the 191 mn shares on offer between today and Thursday, when the institutional subscription round is expected to close. The subscription period for retail investors kicks off today and will extend until Wednesday, 4 February.

Gourmet listed on the EGX last week, under the ticker GOUR.CA.

REGULATION — Could we see the House ban teenagers from using social media? President Abdel Fattah El Sisi has urged lawmakers “to restrict mobile phone access for young age groups” during his Police Day address yesterday (watch, runtime:3:55:30). It is likely El Sisi was referring to a social media ban and not a restriction on children’s access to mobile phones in general — he cited Australia, which recently banned children under 16 from using social media, and the UK, which is mulling a similar move .

We didn’t see that coming, especially after a senior government official told us earlier this month that the CIT Ministry is taking the position that technology should be embraced for all ages in a positive way. The source said that some members of parliament have been kicking around the idea of restricting social media access, but it hasn’t been discussed by the government.

House is already working on it: The House Communications Committee is looking into drafting a legislation to restrict the use of social media and some video games by children under a “certain age,” Committee Chairman Ahmed Badawi told El Sora’s Lamees El Hadidi (watch, runtime: 6:18). The goal is to protect children from cyber-fraud, online gambling, and harmful or violent content. The legislation also aims to ban apps and games that pose an imminent danger to children or adults.

ALSO FROM EL SISI — Any Palestinian displacement will lead to mass migration to Europe: The President reiterated his stance regarding the displacement of Gazans, warning that any attempt to displace Gaza’s 2.5 mn population will result in a mass migration wave, with thousands heading towards Europe.

Happening today

US Deputy Secretary of State Christopher Landau is in Cairo today to kick off a multi-country tour of Africa, aimed at advancing the Trump administration’s commercial and security agenda, according to a statement from the US State Department. During his stop in Egypt, Landau will meet with senior government officials to discuss regional security cooperation and strengthening the bilateral economic relationship.

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The big story abroad

US President Donald Trump has threatened Canada with a 100% tariff if it strikes a trade pact with China, accusing Canadian Prime Minister Mark Carney of turning the US’ northern neighbor into a “Drop Off Port” for Chinese goods. The trade escalation comes days after Carney announced a partnership with Beijing — its second largest trading partner after the US — to mutually reduce tariffs on certain products, including Chinese electric vehicles and Canadian agricultural products.

Meanwhile, a massive winter storm is making its way through the US, triggering power outages and more than 4k flight cancellations. Over 22 states have declared a state of emergency as they brace for the cold.

ALSO WORTH READING THIS MORNING- Europe risks being overtaken by the US and China if it doesn’t spur business practices, business elites departing Davos have said, pointing the finger at the continent’s bureaucratic obstacles, over-regulation, and lack of consolidation in resources. (Bloomberg)

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