The headlines from this morning

Missed this morning’s edition of EnterpriseAM? Here are the top stories in a nutshell:

• Talaat Moustafa Group (TMG) signed multiple agreements with the government, with the combined investments reaching about EGP 11 tn (c. USD 206 bn). The agreements are for developing four mixed-use projects in Madinaty, Alexandria, Abu Qir, and the North Coast. President Abdel Fattah El Sisi witnessed the announcement at the Egypt 2026 Forum in the New Capital;
• Egypt’s SME market is sending more graduates up to the main board. Tawasoa Factoring and Future Care for Medical Industries both made the jump this year, bringing the total to a dozen companies, by our math, and the EGX is working to widen the funnel behind them. Moving up starts with paid-in capital. Once it crosses EGP 100 mn, a company can apply to transfer; once a company goes above EGP 200 mn, the move becomes mandatory;
• The Oil Ministry is targeting 14 new exploration wells in the Mediterranean by the end of the fiscal year with potential reserves of up to 12 tcf of gas. The wells are part of a wider 101-well campaign with international companies, and they’re timed to line up with the first phase of a new offshore seismic survey, which starts in November. The Western Desert gets the bulk of the drilling with 67 of the 101 wells. Next come 14 offshore in the Mediterranean, nine in the Gulf of Suez, six in the Nile Delta, and five in the Eastern Desert;
• The European Bank for Reconstruction and Development (EBRD) and a group of development lenders have assembled up to USD 566 mn in debt for Nefer Minya, the 1.2 GWp solar plant with 600 MWh of battery storage in Minya that will be the largest in Egypt and Africa. The package covers about three-quarters of the project’s USD 764 mn cost, leaving the two sponsors to fund roughly USD 198 mn in equity, by our math.