Good morning friends, we kick off today’s issue with news that 2026 is shaping up to be a big year for private equity, with Admaius Capital Partners selling its stake in cosmeceutical manufacturer Parkville Pharmaceuticals after just two years to Africa-focused private equity firm Adenia Partners.

Also in today’s issue is the Finance Ministry’s plan to lift export support allocations in the new budget, a one-on-one with HP MEA Managing Director Ertug Ayik, Deutsche Bank’s forecasts for the year ahead, Paragon looking to green credentials to unlock cheaper financing, a deep dive into the economic impacts of noise pollution, and much, much more.

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WISH THIS MORNING’S ISSUE was a podcast? We’ve got you. Tap or click here to listen to Morning Drive, a 10-minute version of today’s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or finally tackling that mountain of laundry that’s been judging you from the “clean” chair since Tuesday.
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Watch this space

RENEWABLES — Green energy use might be the thing to get your investment proposal over the line. The Industry Ministry gives preferential treatment to factory proposals that use new and renewable energy when choosing between investors for projects, Industry Minister Kamel El Wazir said, according to a ministry statement. The ministry does this to lessen the pressure on the grid, he explained.

The bar is higher for larger factories, especially in energy-intensive industries, with the minister adding that the Supreme Council of Energy’s sign-off is dependent on a large portion of their power being derived from renewable sources.

SHIPPING –– Analysts are on the look out after the Houthis affirmed their commitment to defend Iran in a statement released amid rising US-Iran tensions after the Pentagon said it was deploying naval assets to the region and made threats of airstrikes on Iran due to its violent crackdown on protestors.

Shipping companies are reconsidering their decision to return to the Red Sea, with CMA CGM signaling caution after it said it will reroute vessels on its French-Asia Line 1, French-Asia Line 2, and Mediterranean Club Express back through the Cape of Good Hope.

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Happening today

AmCham’s flagship real estate conference kicks off today at the Nile Ritz Carlton, with registration starting at 8:30am.

Patrick, our editor-in-chief, is moderating a panel on the market for real estate as an investment, with appearances by our friend Ibrahim El Missiri from Somabay, alongside Hazem Badran from Palm Hills Developments, and Tamer Nasser of City Edge Developments. Tap or click here to check out the full agenda orvisit this link to register.

Staying on target

Customs clearance times and costs fell by some 65% in just a year, Investment Minister Hassan El Khatib said in a pitch to the Swiss business community yesterday, according to a ministry statement. El Khatib’s remarks, which follow similar comments from the minister and others highlighting trade reform progress, place the savings from the new customs efficiencies at USD 1.5 bn.

Data point

USD 11.5 bn — that’s how much fresh and processed food exports brought in 2025, accounting for 24% of the country’s total export revenues, the Agriculture Ministry said in a statement.

PSA-

WEATHER- The mercury is once again set to fall in Cairo today, with a high of 20°C and a low of 12°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 19°C and a low of 11°C.

The big story abroad

It’s a mixed bag in the foreign business press this morning, with the USD’s slide, gas prices, and Trump’s latest tariff announcement all making headlines.

#1- Trump to hike tariffs on Seoul: US President Donald Trump announced he is hiking tariffs on South Korean autos, lumber, and pharma from 15% to 25%, blaming the country’s legislature for not implementing a trade agreement reached last November. The move strains Washington’s relationship with a major trade partner, as South Korea ranks among the top 10 sources of imports to the US, with over USD 150 bn worth of Korean goods heading to the US every year.

#2- The USD dipped to its lowest point since 2022 amid speculation about joint US-Japan efforts to boost the JPY, which jumped to a two-month high. Adding to pressure on the greenback are worries of another government shutdown and geopolitical tension pushing investors away from the currency and into safe haven assets.

#3- Musk’s X is in hot water with the EU: The European Union is investigating Elon Musk’s X following the generation of explicit images of women and children by its in-app AI chatbot Grok. The probe will ascertain whether or not the company properly mitigated risks of its chatbot’s functionalities in the bloc.

#4- US natural gas prices have soared to a three-year high after a major winter storm disrupted production across the country.

*** It’s Going Green day — your weekly briefing of all things green in Egypt: EnterpriseAM’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: We take a look at why noise is legally classed a pollutant in Egypt and how tackling it would be a boost to the economy.

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