Good afternoon, wonderful people. Hump day is bringing us a relatively brisk news cycle here on the home front.

Before jumping in, we want to start by thanking the 500 of you who joined us yesterday for the Enterprise Exports and FDI Forum. The day was stacked with insightful conversations with businesses and manufacturers who have successfully set themselves up as major exporters.

We’re exceptionally grateful to all of our friends whose generous support made yesterday possible:

Banking partners: Banque Misr | Al Baraka Bank | Emirates NBD | HSBC

Lead partners: DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr

Event partners: Beyti | Concrete | GlobalCorp | Grant Thornton | Hassan Allam Utilities | Royal Ceramica

THE BIG STORY TODAY

The European Investment Bank plans to invest over EUR 50 mn (USD 54.3 mn) per year in Egyptian VC firms to support fintech and digital transformation startups, reports Ahram Online. EIB is also particularly interested in investing in sustainable businesses, including fintech players that play a role in supporting environmental sustainability, Ahram Online quotes EIB Vice President Gelsomina Vigliotti as saying.

THE BIG STORY ABROAD

The international business press is giving us a mixed afternoon today as no singular story leads the conversation. Among the front-page stories:

  • Russian oil exports hit post-invasion high (Financial Times)
  • Default fears rattle Main Street investors (Wall Street Journal)
  • Biden, McCarthy to meet as US debt-ceiling talks come down to wire (Reuters)
  • Vodafone shares drop 7% after record 11k jobs cut as CEO says telco “must change” (CNBC)

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

  • Exports and FDI are the way forward — other countries have done it right and so can we: Egypt must combine its natural value proposition with clarity and focus to build exporting economies of scale, said Yasmine Khamis, chair of Oriental Group and Yassir Zouaoui, partner at McKinsey, during the opening panel — which set the tone for the rest of the forum — of the Enterprise Exports and FDI Forum yesterday.
  • National Investment Bank subsidiary NI Capital is preparing to sell stakes in seven state-owned companies as part of the government’s privatization program, two of which are expected to be complete by the end of the fiscal year in June.
  • Green SME-led projects to receive funding from IsDB: Al Baraka Bank Egypt will receive USD 30 mn in sharia-compliant funding from the Islamic Development Bank (IsDB) for on-lending to green projects.

WANT TO START A CAREER IN INVESTOR RELATIONS ADVISORY?Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region’s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE and beyond. Egyptian and foreign nationals alike are welcome to apply.

NEVER WORKED IN INVESTOR RELATIONS OR ADVISORY BEFORE? We have the Enterprise Advisory Development Program. The four-month program will see full-time, paid participants take part in workshops and lectures from veteran investor relations and advisory professionals, while also applying their knowledge in a practical setting. Those who successfully complete the program will be offered full-time positions on staff for a chance to work in a flexible and supportive — but still fast-paced — work environment that eschews micromanagement and rewards good work. Enterprise Advisory offers the chance to build a network of high-ranking individuals across some of the largest and most influential companies in the region through direct exposure to clients.

During the program, you’ll learn:

  • Finance for non-finance people;
  • How to analyze businesses, their business models, their strategic advantages, and their strategies;
  • How to take that information and then tell an audience of investors, journalists, and analysts a compelling and well-developed story;
  • How to frame individual companies’ stories within the wider macroeconomic environment.

Career switchers are very welcome.

Apply directly to jobs@enterprisemea.com and mention “advisory development program” in your subject line.

☀️ TOMORROW’S WEATHER- It’s warming up in the capital city, which is expected to see a daytime high of 38°C tomorrow and a nighttime low of 18°C.

Tags: