Good afternoon, friends, and happy hump day. All eyes are on the House of Representatives this afternoon as a session to discuss the anticipated cabinet reshuffle has been pushed to 4pm, delayed from the original 1pm time slot. We’ll have the full rundown of this afternoon’s events in tomorrow’s edition of EnterpriseAM.

THE BIG STORY TODAY-

📍 Beltone fully acquires Baobab: Beltone Holding has acquired digital finance and microfinance provider Baobab Group in a transaction worth EUR 197.6 mn, according to a press release (pdf). The acquisition will serve as an entry point for Beltone into Senegal, Côte d’Ivoire, Madagascar, Burkina Faso, Mali, Congo, and Nigeria.

What does Baobab do? The outfit is a micro and small business finance provider with a strong focus on digital solutions. Baobab caters to nearly 1.6 mn customers and manages a loan book of EUR 848.8 mn as of 3Q 2025, having disbursed around 4 mn loans to small businesses.

THE BIG STORY ABROAD-

🌐 UK oil giant BP shared its 4Q earnings report this morning, suspending share buybacks to “strengthen” its balance sheet, and revealing plans to cut costs by as much as USD 1.5 bn through the end of 2027. BP’s shares fell 5.4% in morning trading after the halt. This comes as lower crude prices weigh on the market and pressure mounts on the company to deliver on its turnaround efforts. The firm’s 2025 NP of USD 1.54 bn matched analyst expectations of USD 1.53 bn.

^^Read more on Bloomberg and CNBC.

Google parent company Alphabet is issuing CHF-denominated bonds for the first time, including maturities ranging from 3-25 years. The tech giant is also lining up banks to sell a rare GBP-denominated 100-year bond set to issue this week. This follows Monday’s record USD 20 bn US offering in a seven-part USD debt sale, upsized from the expected USD 15 bn on the back of strong demand.

^^Read more on Bloomberg and Financial Times.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • Consumers likely won’t see a hike in electricity bills until at least the end of the fiscal year in June, as the cabinet opts to hold rates steady to keep a lid on inflation. By keeping energy costs flat, the Central Bank of Egypt is given more breathing room and confidence to continue its monetary easing cycle;
  • Analysts polled by EnterpriseAM see a clear path for CBE to accelerate rate cuts. Of the 11 analysts we surveyed, nine are calling for an immediate reduction in the overnight deposit rate. Projections range from a cautious 100 bps to a more aggressive 200 bps move;
  • Allianz Trade upgraded Egypt’s short-term country risk rating to D3 in its 2025 Country Risk Atlas, reversing the D4 downgrade in the previous year’s report triggered by 2024’s liquidity crunch.

☀️ TOMORROW’S WEATHER- We’re in for cooler weather in the capital tomorrow, with the mercury set to peak at just 23°C before cooling down to 14°C, according to our favorite weather app.

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