Good morning, friends, and congratulations on making it to the weekend. It’s been a rocky week in the press, but we’ve finally made it to shore. Celebrating Valentine’s Day tomorrow and still haven’t made any plans? We’ve got you covered.

🍿 With Ramadan fast approaching, there will be plenty to catch up on — including shows. For this week’s edition of The Enterprise Guide, we’re listing the Ramadan shows we’re looking forward to the most.

🗞️ LAST WEEK IN 3 MINS-

ECONOMY-

#1- The Monetary Policy Committee moved to reduce interest rates by 100 basis points at its most recent meeting, according to a statement from the Central Bank of Egypt. The committee lowered the overnight deposit rate to 19%, the overnight lending rate to 20%, and the central bank’s main operation rate to 19.5%. The discount rate was also reduced to 19.5%. Additionally, the CBE’s board of directors decreased the required reserve ratio for commercial banks to 16%, down from 18%.

The move is in line with the projections of the majority of analysts and economic experts polled by EnterpriseAM, and comes after annual urban inflation stood at 11.9% in January, marking its lowest level since September and a 0.4 percentage point drop from December.

#2- Consumers likely won’t see a hike in electricity bills until at least the end of the fiscal year in June, with the cabinet opting to hold rates steady to keep a lid on inflation. By keeping energy costs flat, the CBE is given more breathing room and confidence to continue its monetary easing cycle.

#3- Gov’t to overhaul non-tax revenue system: The Madbouly government is overhauling its non-tax revenue framework to boost collections currently lagging behind tax revenue growth. To address the imbalance, the upcoming budget will include changes to public finances, opening up fiscal space for more investment in education and healthcare.

#4- Oversight of profitable public enterprises is moving to the Sovereign Fund of Egypt and the cabinet’s State-Owned Enterprises Oversight Unit. The news follows the latest cabinet reshuffle and the dissolution of the Public Enterprises Ministry

CABINET WATCH-

The House voted for a cabinet shuffle that introduced 13 fresh faces and bid farewell to 11 others. Prime Minister Moustafa Madbouly will continue to head the cabinet, becoming one of the longest-serving prime ministers in the country’s history.

PRIVATIZATION WATCH-

#1- The gov’t aims to raise some USD 10.3 bn through the privatization of state-owned companies and assets by the end of FY 2026-27. Egypt requires around USD 6 bn to fulfill its commitments under the economic reform program. Securing these funds will bolster foreign reserves beyond the expected USD 55 bn mark.

#2- The government is set to finalize the sale of the 580 MW Gabal El Zeit wind power complex to UAE-based Alcazar Energy. The transaction, a cornerstone of Egypt’s state privatization program, is expected to close at a valuation exceeding USD 420 mn.

M&A WATCH-

Beltone Holding completed its largest transaction to date with the EUR 197.6 mn acquisition of 100% of Baobab Group. The acquisition marks Beltone’s first major cross-border expansion and sets the foundation for its evolution into a Pan-African financial services platform.

STARTUP WATCH-

#1- Egypt is no longer reliant on the equity-only venture model that defines much of the African tech landscape — securing over USD 595 mn in venture funding last year to rank third with a 15% share of the continent’s total funding.

#2- The newly launched Egypt Startup Charter sets out a plan to de-risk the ecosystem, targeting USD 5 bn in fresh VC inflows by 2031. The roadmap aims to enable 5k startups and cultivate five unicorns over the next five years, and will involve a USD 1 bn unified financing initiative to achieve the VC inflows target.

We’re hiring a technology reporter: EnterpriseAM is looking for a tech reporter to own the beat across Egypt, the UAE, Saudi Arabia, and beyond.

This is a reporting job — not a desk job. You’ll be working sources, breaking stories, and writing about trendlines (not just headlines) in our voice and with the authority our readers expect. AI and digital infrastructure are huge features of the beat, but our interests are broad: fintech, telecoms, regulation, SaaS, and the bajillion ways tech is reshaping how businesses operate across the region.

We want someone who can pick up the phone or WhatsApp, get people talking, and turn what they say into stories that senior decision-makers need to read. We also expect you to attend industry events and maintain relationships with PR folks across the industry without selling out. If you’ve got 2-3 years of experience and the hunger to build a beat from the ground up, we want to hear from you. We’re also interested in hearing from veteran reporters. Spoken Arabic is strongly preferred.

The role is based in Cairo, though we’re open to remote for the right candidate. If you’re reading EnterpriseAM, you know what we’re about: A no-BS daily news outlet that tells busy execs, investors, founders, and ambitious people what they need to know about the trends shaping business, economy, finance, regulation, and public policy across our region. We write stories that have impact — about issues that matter — for a global audience of decisionmakers.

Do we sound like the type of place where you want work? Send your CV and three clips to jobs@enterpriseamea.com. Also enclose a great cover letter that tells us who you are, what you do, and why you’d be a great fit for this job.

🌍 AROUND THE WORLD IN SEVEN DAYS-

It’s been a busy week in the global business press, with several stories dominating the digital front pages. Let’s dive in.

It was a rather rocky week for BTC, which plunged as low as USD 66k on Wednesday, falling below last week’s major drop to USD 69k. The record crash nearly halved BTC’s value, wiping out all gains since it hit a USD 127k peak last October.

In Japan, stocks rallied following Prime Minister Sanae Takaichi’s landslide victory in snap elections on Monday. Investors anticipating Takaichi’s agenda to increase spending and cut taxes propelled Japan’s Nikkei 225 benchmark to 5.7% — a record high. Gold prices also rose above USD 5k in response to the news.

… Gold then slipped as much as 0.6% in early trading on Thursday after surprisingly strong US labor data reduced the likelihood of imminent Fed rate cuts. January marked a sharp 4.3% drop in US unemployment with the addition of 130k jobs.

In other business news, UK oil giant BP shared its 4Q earnings report, suspended share buybacks to “strengthen” its balance sheet, and revealed 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 on Tuesday after the halt.

The tech sector also made headlines this week, with Alphabet announcing an issuance of CHF-denominated bonds for the first time on Tuesday, including maturities ranging from 3-25 years. The tech giant also set its sights on banks to sell a rare GBP-denominated, 100-year bond issue — all in a bid to finance its AI ambitions.

In tariff news, Big Tech is catching a break as US President Donald Trump announced on Tuesday plans to exempt companies like Amazon, Google, and Microsoft from an upcoming streak of levies on chips. The move would spare imports from Taiwanese chip manufacturer TSMC, whose major clients include AI hyperscalers.

AI tool launches continued to rattle markets — potential AI disruptions in the software sector rattled private credit lenders in light of Anthropic’s AI tools rollout. The launch of a tax planning tool from tech platform Altruist on Wednesday also shook financial firms, weighing their stocks down amid concerns over AI-driven disruptions to advisory and banking firms. Formerly disfavored sectors saw their equities rise — namely supermarkets, energy companies, and manufacturers.

AND- Just days after the Washington Post laid off a third of its staff, its CEO Will Lewis resigned on Sunday with the paper’s CFO Jeff D’Onofrio stepping in as his successor. Since taking over in January 2024, Lewis’ tenure was marked by instability and “difficult decisions.”

☀️ THE WEATHER THIS WEEKEND-

We’re in for another warm weekend in the capital. Today, temperatures are set to peak at a high of 27°C before cooling down to 16°C. It’s more of the same tomorrow, with a high of 26°C and a low of 15°C, according to our favorite weather app.

🎤 HAPPENING THIS WEEKEND-

A fan of animation art? Animatex, Egypt’s biggest animation event, is coming to AUC Ewart Hall, running this weekend until Sunday, 15 February. The festival celebrates 90 years of Egyptian animation, screening 15 feature films and 200 short films selected from Arab and international submissions in the annual Animatex competition — plus a packed program of talks, workshops, and masterclasses. Tickets are available on Ticketsmarché.

Got a big appetite for Thai cuisine? The Thai Food Bazaar is back in Zamalek’s Al Horreya Garden until Sunday, 15 February. Experience all the authentic flavors of Thailand including street food, cooking shows and live demos, and Thai drinks and sweet treats.

A Valentine’s night at the Cairo Opera House: Medhat Saleh takes the stage alongside pianist Amr Selim, led by maestro Ahmed Amer, tonight at the Covered Fountain Theater. You can book your tickets through Tazkarti.

Another live performance at the Grand Egyptian Museum? Count us in. This time, multi-platinum Canadian singer-songwriter Bryan Adams is taking over GEM nights tonight with a setlist of his biggest hits. Tickets are available on Tazkarti.

Don’t have plans on the 14th just yet? Legendary Egyptian composer and pianist Omar Khairat will be celebrating Valentine’s Day at the Cairo Opera House’s Covered Fountain Theater tomorrow. Doors open at 8pm, and tickets can be booked through Tazkarti.

How about a date with a pet? Meow Tours is putting a wholesome twist on Valentine’s Day tomorrow, inviting the singles to spend a day with a furry friend from its shelter at Ghurnata Community Center. The event runs from 11am to 8pm — you can head to their Instagram page for more information.

VeryNile’s Nile Parade is back for its third year on Qursaya Island tomorrow. The parade brings together artists and local fishermen to transform fishing boats into floating artworks inspired by the island and its inhabitants. Featuring art performances, live music, and workshops, the cleaning initiative invites you to celebrate a unique collaboration. The event will take place from 12-5:30pm, and you can register through the link in VeryNile’s Instagram bio.

Tags: